Mortgage Loan Modification, Restructuring, & Principal Reduction
Mortgage Relief Services
Deed-in-Lieu of Foreclosure
Foreclosure & Predatory Lending Defense
Mortgage Relief Attorneys
Learn about your options.
See what you can save.
Contact Us Today.
Mortgage Relief Attorneys
Learn about your options.
See what you can save.
Contact Us Today.
Let Us Help You!
Get Your Free Consultation
Why Should I Use a Loan Modification Attorney?
Why YOU Need a Loan Modification Attorney
New York, you’ve probably all heard of a Loan modification or loan restructuring by now. If you are experiencing a financial hardship that has affected your ability to make your monthly mortgage loan payments or if your home is underwater (negative equity) then our loan modification, mortgage settlement, & foreclosure defense lawyers may be able to help you. We can negotiate the terms of your existing mortgage loan to make the payments more affordable for you. This can mean a variety of changes such as:
- Lowering your interest rate
- Converting your loan from an adjustable rate to fixed
- Extending your repayment term
- Eliminating or reducing delinquent payments
- Negotiating a discounted pay-off for Underwater Homes
- Any combination of the above!
Trust Our Loan Modification Attorneys
A loan modification is not the same as a refinancing. With a modification, a bank does not issue a new loan, but instead, we renegotiate the existing home loan that you already have to more beneficial and affordable terms for you. Most time, we can get a modification for you whether you are delinquent on your payments or not.
Loan modifications or loan restructurings can be a great way to prevent a foreclosure on your home as they will immediately bring your loan back to current status as long as you make all required payments.
Dramer Law is a mortgage & debt relief law firm. We have a team of lawyers that specialize in negotiations for loan modifications, short sales, and deed-in-lieu-of-foreclosure. Additionally, we have lawyers that deal with foreclosure defense, predatory lending, and even bankruptcy. We offer multiple options, all to help you avoid foreclosure.
Benefits of a Loan Modification
Save Your Credit
By working out a loan modification with your lender you’ll get back up to date with your payments, you will avoid foreclosure, and you will prevent further damage to your credit.
Save Your Home
Once your loan has been modified, you will no longer be at risk of foreclosure by your lender. If your rates and loan payments are lowered, paying will be easier going forward.
In addition to lower interest rates and monthly payments, we have been able to reduce the principal balance of many mortgage loans, saving millions of dollars for our clients!
View Real Loan Modification and Mortgage Settlement Results
Any mortgage settlements shown are represented as a percentage of the debt paid back.
For example, a 20% settlement means that 20% of the mortgage loan is paid back and 80% of the balance is forgiven.
Are you looking for professional advice?
Let Us Help You!
If you or another company have been unsuccessful in modifying your existing mortgage loan, one of our Mortgage Relief Attorneys may still be able to help.
We can evaluate your case and see if maybe there was a slight error on your part that caused your denial, and can then resubmit a request for you properly.
Alternatively, if your lender denied you even though your proposal was accurate, then perhaps instead we can help avoid foreclosure with either our Foreclosure Defense Litigation, Short Sale Negotiation, or Deed in Lieu of Foreclosure Negotiation Services.
One way or another, we can help!
How Dramer Law Handles Our Loan Modification Cases
Read More by Expanding the Below:
Free Consultation, Fact Finding, & Financial Analysis
When you call our firm, we will want to know how and when your financial hardship began as well as what the current status is, to get a better understanding of what you are experiencing. Our staff is trained to ask the right questions to make sure that no stone in your financial picture goes unturned. Any representative that will speak with you will have a minimum of 10 years experience
We analyze your current financial situation including your assets and liabilities as well as your current cash flow, allowing us to narrow down our services more specific to what you can afford. This step is critical in any of our processes as we ensure that whatever service we recommend will be within your budget and therefore you’re more likely to succeed.
Full Disclosure, Recommendation, & Customization
There are multiple options for each problem we encounter so based on your analysis; we will then tailor fit the best option to the individual needs of your budget. We will explain in great detail all aspects of each process including the risks & fees – not just how much money you can save. Nothing will be hidden from you as we are a full disclosure law firm.
Our Relief Specialists are NOT Paid a Commission so there will be no sales pressure at our law firm. There is no obligation to retain our services. You will be given all the facts you need, and then you will be given plenty of time to think things over. Debt relief is an important decision, and we won’t rush you! We have worked hard over the years to earn the reputation we have by giving honest advice to those in need rather than the advice that benefits our bottom line!
Limited Power of Attorney & Authorization to Communicate
Lenders are Sent Notice of our Representation
Once retained, we immediately send a copy of our Limited Power of Attorney to your mortgage lender, their debt-collectors or attorneys. Sending notice of representation is the first step in curbing any creditor or collector calls you may be receiving. We do not want you to be harassed – we’ll take over the calls for you.
The Fair Debt Collection Practices Act (FDCPA)
Once any third party servicer, debt collector, debt purchaser, collection attorney, foreclosure attorney, etc. receive our Limited Power of Attorney, they are obligated to contact us directly on your behalf. Failure to do so is a violation of the FDCPA, and we will sue them for you. There is no fee charged to you if we do not win your case, and if we do win, you can win up to $1,000 per violation, and the collector in violation will pay our attorney fees for you. It’s basically free money!
We Get the Job Done!
We are Incentivized to Perform
Our mortgage negotiation services are offered a fee structure as such that you pay part of the fee when retaining our firm and part of the fee only if we’re successful. The success fee helps ensure we are incentivized, so you’ll know we have your best interests in mind. We don’t benefit from getting you to hire our law firm, but instead, we benefit when we get the job done for you. You pay for our performance – and that’s what we do – we perform! We never agree to anything without first consulting with you and getting your approval. It is your debt and your money, so you have the final say in all of our negotiations
We Work Efficiently & Quickly
The combination of our experience, well-trained representatives, long hours, and state of the art software, allow us to accomplish more in any given day than most other firms only dream about. This can be said for ANY service we offer from negotiations to litigation to bankruptcy. We work quickly on your behalf as the longer you delay with a deed in lieu of foreclosure, the more fees your lender will charge. We will be in touch with you throughout the process to keep you informed and are available when you need us.
Why Choose Dramer Law for Your Mortgage Debt Relief Needs?
Debt is Our Specialty
Other companies and law firms offer debt relief – we specialize in it! We do not offer any services that aren’t strictly related with clients that are struggling financially so our clients have unique needs, compared to those of other law firms, that we can cater to. We offer all debt relief options and we service our clients like family. You should never settle for less when trying to settle for less!
Since our clients don’t have tons of money to spare like attorneys that practice in other areas of law, we charge low fees making our services affordable for anyone that needs help. Unless your case involves one of our attorneys having to go to court, our negotiation service fees are flat fee based not charged hourly.
One on One Client Service
All of our client relationships are One on One. You’ll have one individual client service representative that will be your point of contact and you’ll build a relationship with them so they’ll know exactly what you are going through. Aside from treating you with the upmost care possible, this means you won’t have to deal with multiple people and re-explain your situation to a different person each time you call. This saves time for you and eliminates any extra stress for you as time is money and being stress free is just as important as being debt free!
Client Service Response Time
All of our attorneys, paralegals, and negotiators are dedicated to providing the best possible experience, while achieving results. We are available long hours but should we happen to be unavailable for any reason we pride ourselves on returning calls and emails right away, not several days later like most attorneys.
Many companies do nothing for the high fees they charge. We have heard many horror stories. These companies aren’t proactive, they put no effort into negotiations, they don’t even return your calls let alone calls from collectors! These actions cause collectors to seek other measures to collect, often meaning lawsuits. We typically work repeatedly with the same companies and are known for resolving accounts so therefore have a great reputation with industry lenders and collectors. This benefits you when we contact these companies on your behalf, they know the accounts will get resolved and therefore we are usually able to avoid legal action!
Many times, when we successfully modify our clients’ mortgage loans, they still need assistance with other areas of their financial life. We offer many different services for those struggling with debts including Business Debt Relief, Consumer Debt Relief, Tax Relief, & Student Loan Relief. When Debt is the Problem – We Have the Answers!
The court proceedings were annulled, and agreeable working terms were consolidated with my creditors
I wouldn’t go anywhere else.
Very sharp and on point. Their price is very reasonable.
“Like most people bankruptcy never crossed our mind. My husband and I owed a lot of debt due to closing of our business, but we still tried to payoff debtors little by little. Until we got hit with a summons from the court ( for over 100K lawsuit). We research all over the internet and called many law firms and layers. Many of them ask what we want to do?.. We wouldn’t of call if we know what to do. And some offered hardship /debt relief or settle your debt for less.. no matter what you call it at the end you still have to pay the creditors, the debts collectors and the lawyer. In our case there is no way we can payoff everything. Many random phones calls later, we were fortunate to come acrossed Mike, he has explained to us bankruptcy doesn’t mean we will lose our house or car. As couple we are able keep certain amount of assets. We were also worried about our credit score, the bankruptcy record will stay in your record for 7 years ( our score were poor anyway). There aren’t that many reviews on the internet about them and like most people we’re not sure if we can trust them. Give Mike a call and a chance, his very sharp and on the point. Their price is very reasonable. Bankruptcy was the best choice we made and the cheapest way out. Now half year later we are debt free, no need to worry from phone calls from debts collectors. Get to keep our house and car, even our credit score went up. Don’t understand why we didn’t do it sooner I guess we were like a lot others going day by day try to be nice by paying off little by little. Thanks!” JC, Queens, NY. 7-7-2017
They were extremely professional and made the process easy
“The Law Offices of Kenneth H. Dramer P.C Attorneys at Law were efficient in handling by bankruptcy case. They were extremely professional and made the process easy! I highly recommend them.” – Jamie M. Seaford, NY 5-30-2017
They're highly recommended
It has been an absolute pleasure working with you
“I just wanted you to know it has been an absolute pleasure working with you. You never made me feel harried, pressured or overly anxious about paying off my bills. I wish everyone would be like that. Thank you again & i hope you don’t mind if i touch base with you the future, just to give you updates on how things are going. Be well.” Mary R. Bayshore, NY 4-30-2018
I would highly recommend Dramer Law for your debt settlement needs
“I would highly recommend Dramer Law for your debt settlement needs. A few years ago my husband and I had accrued entirely too much debt and no matter how hard we worked or how much we tried, we were unable to keep up with our bills and making the minimum payments was getting us nowhere. The best decision we could have made was to begin the debt settlement process. Most of the debt was in my name so I contacted Dramer Law . I have been extremely pleased with the efficient, attentive, reliable service provided by Michael Sininsky. I was initially hesitant to enter into any debt settlement program but now, without hesitation, I will say it was the best decision I could have made . From the initial consultation and throughout the entire process ,Michael patiently and fully explained everything. Any questions I had were addressed rapidly and any messages I left were returned promptly. I/we started out with $87,555.84 total debt and ended up paying back $26,020.71. That’s a savings of $61, 000.500 , or a 70% discount off our balances. I’m so happy we decided to go with Dramer Law and cannot thank Michael enough for all his hard work and professionalism. Any fees paid to Dramer Law were very fair and minimal compared to what I was paying to the credit card companies each month. Being debt free is such a relief- now we can move forward and put our money toward our kids college educations and save for our future.I am happy to recommend them and am so glad I contacted them a few years ago. Sincerely, Susan M.” Commack, NY 3-27-2018
We would highly recommend their services for debt reduction and settlement rate negotiations
Your promptness, efficiency, and trustworthiness have always been beyond my imagination.
“Thank you very much. Your promptness, efficiency, and trustworthiness have always been beyond my imagination. Perhaps I will be like that one day (in another life).” Peter L Valley Stream, NY 3-2-17
Thanks for being so helpful
Not only did you get me out of debt but you gave me a freedom that can’t be described.
Thank you so much for your help. I’ve said it once, and I’ll say it again – you are greatly appreciated!!
“When I initially called, I spoke to Mike. I want to say, he immediately put my mind at ease. He explained your retainer fee; that costs for filing papers; phone calls, and other incidentals, would be deducted from that fee and, if any fees were due at the end of the process, I would be liable for those additional fees. Mike was able to work with me, keep me calm and focused, and I have gone from being in foreclosure to NOT being in foreclosure!! I’m so relieved. Mike spent time communicating with me either by e-mail or phone. He kept me up-to-date about the process of this whole mess I got myself into and he was truly a comfort to me these past few months. I hope other staff in your office are as efficient and compassionate as Mike is. He’s truly an asset to your business. Mike – Thank you so much for your help. I’ve said it once, and I’ll say it again – you are greatly appreciated!!” – Susan F. Copaigue, NY. 6-13-16
I was very pleased…
I am very grateful….highly recommended
Very extremely effective in working with me to reduce my consumer debt
Excellent, excellent service. Highly recommended.
Please accept our gratitude for all your help
I’m very happy
“I think you and the company basically do a good job and I appreciate it. As I mentioned before the only thing is I’m interested to see when the payments I’ve made start showing up on my credit report as it’s still very low. Overall, though, I’m very happy.” Mike S. Baldwin, NY 8-3-15
I would highly recommend this firm to anyone going through financial difficulty and need good advice.
“I was so happy to have been represented by the law firm of Kenneth H. Dramer. They were so helpful at a very difficult financial time in my life. They advised me every step of the way through the difficult process of bankruptcy. If I had any questions or concerns they would answer any questions very quickly and patiently. I would highly recommend this firm to anyone going through financial difficulty and need good advise. ” Lillian L. Queens, NY 7-20-2015
I thank the company and Michael for giving me peace of mind at this point
Thank your law firm for helping us get out of debt and back on track
“To Whom It May Concern , We would like to thank Michael Sininsky and your law firm for helping us get out of debt and back on track . Michael was always professional and courteous as well as efficient . Any email or phone call was returned immediately with answers to each question or concern we had . We would like to say Michael Sininsky is an asset to your company . We were thankful that he had our account . Sincerely , Robert & Michele A. Whitestone, NY 5-25-2015”
I would like to express my gratitude
Thank you from the bottom of our hearts for all of your efforts in getting us through this!
“Dramer handled my case very professional. They were patient and very helpful with my case. Recommended!” Alex M. Floral Park, NY 12-24-14
Resolved a 15 year matter in 2 weeks unfroze our accounts and saved us more than we could of imagined
“I would like to open by saying how grateful I am to Michael Sininsky for helping me with my legal problem. I was beside myself when I spend a hit letter from an attorney who.informed me that I was in debt for a very large amount of money that was owed 15 years ago I thought the matter had been resolved through my divorce, but to.my dismay it wasn’t and had accrued an astronomical amount of late payments and finance charges, they froze our bank accounts , but through the expertise of Mr.Sininsky he resolved a 15 year matter in 2 weeks unfroze our accounts and saved us more than we could of imagined I recommend the Dramer Law firm highly and lifted a great deal of stress for us. sincerely Mr & Mrs. Vogel”, NY 12-15-14
We are so pleased with the results.I know we could not have been successful without their help
Frequently Asked Loan Modification Questions
Q: What is a Loan Modification?
A Loan Modification is a procedure in which the terms of a loan, such as the interest rate, the monthly payment, or the duration of the loan, are changed to meet the current situation of the homeowner. All of this requires the approval of the lender. We will negotiate with your lender to try and change the terms of your loan, allow for you to have a lower monthly payment, keep your home, and save your credit.
Q: How much time do I have before they sell my home?
Every situation is different. The entire foreclosure process typically takes about three to six months depending on your location and other factors. The sooner we start the loan modification process, and the more time we have to work with your lender, the greater the likelihood of success.
Q: How is a Loan Modification different from refinancing?
A refinance involves taking out a new loan and using those funds to pay off the existing mortgage on your property. In today’s economy, it is difficult to get approved for a refinance, usually due to poor credit scores, lack of equity, debt to income ratios, and a host of other market factors. Current home values have been dropping to all-time lows which combined with stricter bank requirements, has made it difficult to refinance. A modification is a renegotiation of the mortgage loan that you already have. The interest rates, payments, and principal balance may change but the bank is not lending any new money nor are they paying off your existing loan with a new loan.
Q: Will I have to meet with my Bank/Lender?
No! We will take care of all the paperwork for you after you fill out your initial application. Once your application is complete, we will have all the necessary documents to negotiate and speak with your bank on your behalf.
Q: Is a Loan Modification for me?
If you are one of the millions of Americans with an adjustable rate mortgage (ARM) that recently reset or is about to reset to a higher monthly payment, then Loan Modification is probably right for you. Many homeowners currently have adjustable rate mortgages or interest-only mortgages that have little or no equity in their homes. Therefore, it will be impossible for them to refinance. A short sale or forbearance is not a good option because they often come with negative tax and credit history consequences. In most cases, a loan modification does not affect your credit, nor does it come with negative tax consequences unless we can reduce your principal mortgage balance.
Q: Can anyone qualify for a Loan Modification?
Unfortunately, not everyone will qualify for a loan modification. People that have waited too long to act and take charge of their situation might not be eligible for a loan modification. There are, however, other options available for you, and our consultants will explore every possibility to keep you in your home and save your credit.
Q: How long does the Loan Modification Procedure take?
It depends. Fortunately, most lenders will take only a few months to approve a loan modification once they have received the necessary information. Many lenders will postpone the sale of your property if they have received a complete package at least two to three weeks before the sale date. If a government guaranteed loan (e.g., FHA) is involved, forbearance plans will generally take two to three months. However, some government loans may take longer to work out.
Q: Can I do a Loan Modification by myself?
It is not a requirement that you hire an attorney to negotiate a loan modification or a pay rate reduction on your mortgage, however, many borrowers find that they get resistance from their mortgage lender and the process can be time-consuming and confusing. We have attorneys and real estate finance professionals on staff with decades of experience in dealing with mortgage lenders and financial transactions. Through our experience, we know what it takes to deal with different lenders and will do everything in our power to try to find a way for your Loan Modification to be successful. We have the means and the infrastructure to work with lenders to help you reach your goal.
Q: Why should I use an attorney?
There are several reasons why you should use an attorney. Our attorneys have extensive experience negotiating with banks and legal entities and they understand the nuances of state laws, federal law, and lending regulations. An attorney can also threaten the recession of a loan, which would force the lender to return all unjustifiable fees. They can also use the Truth in Lending Act (TILA) and Real Estate and Settlement Procedures Act (RESPA) to the borrower’s advantage. Our attorneys will use these laws to put the servicers and lenders on the defense and correct your loan.
Q: Why should I choose The Dramer Law Firm?
The Law Offices of Kenneth H Dramer, PC is an industry-leading law firm that is fully dedicated to your success. Our attorneys are experts in the laws that govern the credit industry and govern your creditors. We have teams of mortgage relief attorneys and specialists that have the necessary knowledge, understanding, and experience in dealing with every facet of the of the industry. We are not affiliated with any bank or other lending institution and are here to work exclusively for you.
Since The Law Offices of Kenneth H Dramer, PC is an actual law firm, unlike many others in this industry, we have a fiduciary and legal responsibility to do the prudent thing for our clients. We offer many different services that will educate you and help you reach your financial goals. If you find yourself in a financial struggle and are looking for help and a way out, put the power of The Law Offices of Kenneth H Dramer, PC on your side.
Q: How do I know if your company is legitimate?
The Law Offices of Kenneth H Dramer, PC is a law firm, and as such, we follow all ethical rules that govern the legal profession. It is illegal for us, as your attorneys, to withhold anything from you. If we do anything unethical, we could face disbarment from the State Bar. If you would like to confirm that we are a law firm in good standing or would like to look into any of the partners of the firm, please feel free to check with the New York State Bar Association by clicking here.
We have an A+ rating with the Better Business Bureau Profile which you can view by clicking here.
You can also use the internet and simply search for “Dramer Law Reviews” and read away!
We are constantly seeking new ways to improve as we move forward. We are very proud of our law firm and would never do anything to jeopardize the reputation that has taken us years to build.
Q: Do you keep my information confidential?
Yes, all of your information is kept 100% confidential. We only disclose information to those persons that you have authorized us to do so. Any bank, lender, or servicer that you wish for us to negotiate with will be contacted and advised that you have retained us to represent you. Any information given to us is held in strict confidence at all times and will only be shared with your creditors, with your permission, and when it is necessary to perform our services.
Q: How can someone apply for help?
There are two ways that you can apply for help with The Law Offices of Kenneth H Dramer, PC. You can either fill out the request form, and we will contact you shortly, or even better, call us toll-free at 888-314-1722 for a free consultation.
After speaking with a counselor, we will do an analysis of your financial situation and discuss all of your available options. We will help you determine which processes you qualify for and will help you make the best decision for your financial future. There is never any obligation, and everything we discuss is kept strictly confidential. After your free consultation, if you choose to move forward with The Law Offices of Kenneth H Dramer, PC, we will then send you a comprehensive package for your review.
Getting Started is Easy…
Call Now for Your Free Consultation
Call today for your free consultation with an experienced member of our team who will ask the right questions to determine the best course of action. They will go over each option that will make sense for your situation and will be sure to discuss in detail the pros and cons of each.
See How Much Money We Can Save You
Each option will have its own savings potential. Keep in mind the greater the downsides a choice may have the greater the potential for savings. Our debt relief representatives will be sure you understand the cost benefits and will be sure to disclose our fees fully.
Retain Our Law Firm and Let the Savings Begin
Once retained, we waste no time in taking action. We will work quickly and efficiently to bring a successful resolution to your situation. You will be assigned a specific member of our team that will be in constant contact with you throughout the process.
You have nothing to lose except for your debt!
Keep up to date — get updates with latest topics.
*Individual results may vary based on consumer’s earnings, assets, and current mortgage loan situation. Our law firm does not assume or pay your mortgage, nor provide credit or tax advice about any forgiven amounts. Mortgage assistance does not obtain immediate repayment arrangements. Mortgage assistance is not available in all states.
*The Law Offices of Kenneth H. Dramer P.C. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
*Be wary of any company that tells you not to pay your mortgage loan as it may have a negative impact on your credit report and other consequences. For example, your mortgage loan may continue to accrue late fees and penalties; you also may receive calls from your lender and/or their collectors, you could even be sued for non-payment. If your lender obtains a judgment against you, then you may lose your home. Make sure you choose a company that explains the benefits and consequences of each mortgage relief option.
*The information provided on this site is for general information and educational purposes only. The information presented should not be considered legal advice, and should not be misconstrued as such, and should most definitely not be acted upon without first consulting with an attorney. The information is subject to change without notice. Consult a debt relief lawyer licensed in your jurisdiction for specific advice.
*We provide Debt Relief services and are a debt relief agency, as defined by the U.S. Congress. We proudly assist people filing for bankruptcy relief under the Bankruptcy Code as well as various other services to help avoid bankruptcy.