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Denbeaux & Denbeaux - Attorneys at Law
Loan Modification Articles

Basics of Loan Modifications

ByJoshua Denbeaux March 19, 2018May 8, 2025

Loan Modification Representation

We can reveal your eligibility for a loan modification with a specific lender along with the terms and payment amounts to provide more successful outcomes.

Clients have found this helpful in order to make short term and long term financial decisions related to servicing their mortgage debt. We have the resources to research the specific trust, investor or servicer and identify the specific modification programs available to you by your lender and know the terms of that offer.

How it Works

We do an analysis of your eligibility for a loan modification based upon information about your loan.

We will be able to tell you :

  1. Who actually owns your current loan.
  2. What other loans exist within your pool.
  3. See characteristics of the loan pool.
  4. Loan history what loan terms for which you may be eligible.

From this information we can draw conclusions and make strong predictions about what the lender has offerred to borrowers in the past. We will be able to see if they are dealing with you fairly when they make the offer of the modification. Also we will be able to ascertain if the loan modification terms will be able to help your situation.

Benefit to Homeowners of Proactive Loan Modification Representation

If the loan modification application is not properly administered you have the right to bring a federal lawsuit against mortgage servicer and their attorneys.

We do all the work necessary to have the legal basis to protect your rights and bring a lawsuit if it comes to that. Often clients have started the loan modification process on their own and run into problems and misfortune such as losing their home due to loan servicing errors in handling their file. By having legal representation from the outset we are able to compile an accurate record of exactly what the loan servicer is doing and hold them accountable. If they have violated the law we can bring a suit against them.

Loan Modification Homeowner Rights

If the loan servicer neglects to administer the loan modification application carefully then they may be subject to penalties under the law know as The Real Estate Settlement Procedures Act (“ RESPA”) and the Truth-In-Lending Act (“TILA”).

  1. The loan servicer upon receiving a complete loan application must issue a decision within 30 business days from the date of receipt.
  2. If any documents are missing or if the servicer needs additional documents they must advise the borrower within 5 business days after receipt of the application.
  3. While a complete application is being reviewed the loan servicer must stop all actions in a foreclosure.
  4. Provide information properly requested e.g. RFI about ownership of note and mortgage under TILA within 10 business days; and
  5. Provide information properly requested about loan payments, loan history, and other loan information within 30 business days.
  6. Provide payoff or reinstatement figures within 7 business days of receipt of written request.
  7. If a servicer violates these regulations, there can be liability under Regulations X and Z for statutory damages, attorney fees, and compensatory damages e.g. legal fees, loss of credit and other losses.

When Denbeaux and Denbeaux provides the representation for your loan modification we hold the lender accountable for following the these rules and document violations that can be used to sue the loan servicer and their attorneys. The primary benefits for the borrower of Denbeaux and Denbeaux involved are :

  • stopping the foreclosure process
  • getting you more time to arrange your finances
  • securing a loan modification

Our attorneys and experts have worked with loan modifications for our clients with these and other lenders:

  • Bank of America
  • Caliber
  • Chase
  • Citibank
  • Ditech
  • Fay Servicing
  • Federal National Mortgage Association (Fannie Mae)
  • Federal Home Loan Mortgage Corporation (Freddie Mac)
  • Federal Housing Authority (FHA)
  • Greentree
  • Nationstar
  • Ocwen
  • PennyMac
  • PNC
  • Rushmore
  • Selene Finance
  • Seterus
  • Shellpoint
  • Specialized Loan Servicing (SLS)
  • US Bank
  • Wells Fargo
Joshua Denbeaux

Attorney

Joshua Denbeaux is a Partner at Denbeaux & Denbeaux, concentrating his practice on financial consumer rights issues and foreclosure defense. He has substantial experience in legal matters related to foreclosure, loan modification, debt collection, and the prosecution of cases related to predatory lending. Mr. Denbeaux received his law degree in 1994 from Seton Hall University after completing his undergraduate work at The College of Wooster. Mr. Denbeaux is licensed to practice in the United States District Courts for New Jersey.

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Denbeaux & Denbeaux - Attorneys at Law

Denbeaux and Denbeaux is a family-run law firm that represents the under-represented. The firm primarily practices mortgage, consumer protection, automobile, and repossession litigation.

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372 Kinderkamack Road, Suite 5
Westwood, NJ 07675

(201) 970-6534

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  • About
  • Practice Areas
    • Foreclosure Defense
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    • Bankruptcy
    • Debt Defense
    • Illegal Repossession
  • Resources
    • NJ Foreclosure Guide
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