What is a loan modification?
A Loan Modification is when your current lender modifies your current mortgage. A new closing is not required. This is not refinancing your loan. A loan modification can change your interest rate, balance of loan, delinquent fees owed, and term of loan. Usually a loan modification was only performed when a borrower was past due. Currently it is being used before or after someone is past due. Loan Modification can be your best way to avoid foreclosure. Banks don't want you to go into foreclosure. Our goal is to give you a payment you can afford for the long term. Just call us at or click the see if you qualify button on the left.

Should I do this myself?
Of course you can negotiate with your mortgage company yourself. There are some people who wish to act as their own attorneys.  It is your right to do so, and if you are ultimately successful, you save paying an attorney. 

Meanwhile, there is a lot of work involved for you to do to make the possibility happen.  The bad news is that you are likely nothing more than a loan number to your lender.

Reasons not to do it yourself are several.  Dealing with your lender means being passed around the loss mitigation department from person to person, not knowing who may have even looked at your file.   Further, imagine the learning curve to understanding the legal and lending terms. 
In representing you, the OLC law office applies Patience, Persistence, and Experience with your lender’s loss mitigation policies and procedures to make loan modification legal services work for you. 

Does Optima Law Center offer any service to you that you cannot perform for yourself?
Not if you will learn what your lender’s loan modification plan means, what you need to do to show you qualify for consideration for a loan modification, and then be willing to call continuously for months to contact the person who might have found a possibly positive response for you.  When you call your lender, you will typically be speaking to a lower level employee.  That person will most likely inform you that there is nothing that can be done in your case.

What are some of the best reasons to hire an attorney?
Having Optima Law Center represent you shows your lender that you are serious.  Your loan modification package is professionally prepared, and we know who to ask for when we call.  Not only do we know who to speak with, we also know the loan modification limits that they are reasonably willing to go.  The savings you can gain are  years of affordable mortgage payments.  Years’ worth of those dollars saved are huge compared to the relative proportion that are our fees

Will the bank agree to my loan modification?
They would rather modify your loan than have it go into foreclosure.  If a mortgage company forecloses on a property, it almost always loses money, but, on the other hand, your lender will want to be comfortable that you are capable of keeping up with the new terms.

More than ever, your lender is trying to cut their losses. True, modifying your loan might help them with that, but they have also been eliminating jobs.  And that is making it more difficult for the unfamiliar home owner to speak to the right person.

Is it too late?
It could be, but if your home hasn't been sold yet, then there's still hope. Contact us immediately.  Should starting  a loan modification process not be practical, however, OLC will refer you to other counsel to explore for other means to save your home.

Why not just let my place go, and rent?
One reason to keep your home is to maintain the opportunity to control your own destiny.
Another is that the net, out of pocket cost to keep your home, including the favorable tax consequences, may turn out to be similar to the cost of moving and renting a residence with comparable amenities and location.
Still another reason not just to walk away without some modification of loan terms is the credit derogatory effect of foreclosure.  Even if your rental application is acceptable, the landlord has the right to make higher than normal the total of the deposits necessary to secure the landlord of payment.
But the Best Reason to Modify is that Mortgage payment loan modifications are made only if the new payment makes continuing home ownership affordable.  That includes staying within the monthly budget you will have made for your living expenses.  A lender will not reduce the existing mortgage payment plan it has with you if, after a possible reduction, the borrower will still not have enough to meet his or her living expenses.

Are there any reasons why I cannot do this myself?
Yes, several reasons exist why it is difficult, but not impossible for a home owner to do it.
As a matter of fact, when we interview a possible new client we ask if they have tried to obtain a loan modification themselves, and if not, why not. We suggest that you do try to do it your self if you are at all so inclined. 
We tell you to try it yourself first because so many of our clients have tried the process before deciding to hire our law office to represent them.  What those clients told us their lender did (or did not do) explain their disappointment.  Some report being told   “you are current in your payments, there is nothing we can do for you,”, or “we can’t talk to you about a loan modification unless you‘re 90 days late… (or) … until notice of default is filed.”   Others say their lender suggested to “get a second job”, or “rent out a room”.
Legal representation by the Optima Law Center puts professional education, training and experience on the side of our clients.  Seeking loan modifications is what we do, and all we do.

I've negotiated with my bank and failed. What can you do?
This is what we do, California loan modifications. You failed because you don't specialize in loan modifications. Give us a call and let our team analyze your eligibility to obtain the results you were unable to get, and then get them for you.

I'm already in bankruptcy, is that a problem?While it is not possible to negotiate
While it is not possible to negotiate your mortgage until it is  dismissed from bankruptcy, we can advise you on what can be done when it is out of bankruptcy.

Are there any legal services OLC offers that is beyond loan modification legal services?
No.  We do not file law suits or engage in litigation.  Nor do we provide bankruptcy counseling or filing.  However, should a loan modification client or possible new loan modification client need other legal services, including divorce services, we will refer you to experienced counsel at your request.

What kind of loan can be modified?
Just about any loan secured by real property can be modified.


How long will it take to get my loan modification, and what do I do in the meantime?                      
Our experience is that it is now taking from an average of about twelve (12) to twenty-six (26) weeks from the time the loan modification application is received.  Of which delivery of your file at your lender, OLC obtains a verification.  Because each client’s circumstances is unique to them, the actual time it takes will vary.  Also, for the same reason of unique circumstances, advice about your specific rights and responsibilities cannot be generally given.