Loan Modification Attorneys in Miami

Is your mortgage upside-down? Is the threat of foreclosure looming? At the Law Offices of Daryl L. Jones, we believe that the ideal solution for both you and the lender is for you to stay in your home and continue to make your mortgage payments. Of course, if your mortgage payments are no longer affordable, loan modification will be necessary. Our experienced and trusted loan modification attorneys in Miami are here to help with that complex process.

If you are behind on your mortgage payments, it may be time to consider whether a loan modification is the right option. A loan modification, if you are eligible, can help you avoid foreclosure and help put your life back on track. However, it is important to understand that a loan modification is not for everyone, and the details involving your particular situation should be discussed with a knowledgeable loan modification attorney in Miami. At the Law Offices of Daryl L. Jones, P.A., we can help you find the best solutions to your home and mortgage concerns.

A loan modification allows the lender to change the original terms of an existing loan if the borrower is eligible under certain circumstances and requirements. Modifying the terms of a mortgage loan can provide the borrower with financial relief. The terms and changes to a mortgage loan can be temporary or permanent, depending on the situation. Above all, approval of a loan modification can help a homeowner avoid foreclosure and help them keep their home. A homeowner does not necessarily need to be in default to qualify for a loan modification, but they must demonstrate that default is looming. In other words, the potential for default must be high in order to be eligible to apply for a modification.

Some may believe that a loan modification is the same as refinancing. In reality, the two are different. A loan modification is not the same as refinancing. Refinancing involves the process of replacing an original mortgage loan with a new mortgage loan. A loan modification changes the terms of the original and existing mortgage loan. Modifying a loan can result in extending the length of the loan term, lowering the interest rate, or changing the variable interest rate to a fixed rate. The terms of the modification are up to the discretion of the lender and will depend on each unique borrower circumstance. If you’re interested in a loan modification, it is recommended to consult with a loan modification attorney in Miami. A professional Miami loan modification attorney can help guide you and assess whether a loan modification is the right option for you.

Loan Modification Eligibility

Not everyone who is in default or behind on payments is eligible for a loan modification. Loan modifications are mostly available to borrowers who are dealing with a hardship. The hardship usually deters the borrower from making adequate on-time monthly payments; thus, a modification can be feasible. A hardship can be loss of employment, illness or medical issues, death in the household, disability, or anything that affects paying your monthly commitment. It is highly recommended to seek the advice of a Miami loan modification attorney to verify eligibility and address any questions on how to apply.

Loan Modification Options

A lender usually has an array of loan modification options available to their borrowers in case they fall under a hardship and are likely to default on payments or foreclose on their home. Not all options may be available to the borrower, but the most common loan modification options a borrower may qualify for include the following:

  • Principal reduction: If approved for a principal reduction, the lender eliminates a portion of your loan. Therefore, a borrower would repay much less than initially borrowed. Getting approved for a principle reduction is extremely difficult, but it is done. You should consult a Miami loan modification attorney about the stipulations and requirements involving a principal reduction.

  • Lower interest rate: A lower interest can reduce your monthly payments, but it is important to understand the terms of your modification. Sometimes, a reduction in the interest rate is temporary.

  • Extended-term: The extended term option will extend the life of your loan. However, this can result in more interest payments since the life of the loan is longer.

  • Fixed-rate loan: Under this option, your lender switches your loan from an adjustable-rate to a fixed-rate, saving you from unaffordable interest payments.

  • Postponed payments: If you are unable to temporarily make payments, you may be able to postpone payments. The missed payments are usually added to the end of the loan.

Seeking Professional Help

If you have a complicated situation and/or do not understand the application process of a loan modification, it would be wise to consult with a loan modification attorney in Miami. Everyone’s situation is unique. A knowledgeable attorney can help you determine whether a loan modification is the best option, or if other measures are better suited for your needs. If a loan modification is the right path, your Miami loan modification attorney will help you throughout the process and make sure that all documents, forms, and requirements are properly submitted. Enlisting the assistance of a loan modification attorney in Miami to help you with your loan modification will significantly improve the approval of your application. At the Law Offices of Daryl L. Jones, P.A., we have years of experience with loan modification while helping clients keep their homes.

We Know How To Work With Banks

Our law firm’s founder, Daryl L. Jones, is not only an experienced lawyer, a former Florida state senator, and a retired U.S. Air Force colonel who flew the F-4 Phantom II and F-16 Falcon fighter jets, but also a board member at a community bank. This is important because it means we know how banks work, and more importantly, we know how to work with banks.


Much of what our loan modification attorneys in Miami do is about packaging. We have created a business model that allows us to demonstrate to lenders that we are helping them retain a quality client. We make mortgage modification agreements a win-win proposition. Through our careful method, we have successfully reduced mortgage payments by hundreds of dollars a month. We have reduced the principal mortgage amount on many occasions. We have even helped people pay off second mortgages for pennies on the dollar.


We are well-versed in the Home Affordable Modification Program (HAMP). We also have an in-depth understanding of mortgage forbearance agreements and other options.

Do Not Attempt A Do-It-Yourself Loan Modification

Lenders are not eager to modify loans. On the surface, it means a financial loss for them. If they are willing to negotiate with you, they may not be willing to offer the best terms. If you are going to have your loan modified, you need to know that the new terms will truly be based on your income and ultimately help you stay in your home permanently.


Our lawyers work with banks every day. We know how to negotiate with banks to achieve substantial and noticeable modifications, not just minor changes.

Foreclosure Attorneys in Miami

Do you believe that a mortgage forbearance agreement can help you? You should discuss your situation with our experienced foreclosure attorneys in Miami first. At the Law Offices of Daryl L. Jones, we can educate you about the strengths and weaknesses of forbearance. Our foreclosure attorneys in Miami have only one goal: to keep you in your home.


Forbearance is an agreement between a homeowner and lender to delay a foreclosure. A forbearance agreement typically gives the homeowner the opportunity to catch up on payments within a certain time frame. The terms of the agreement can vary. The payment amount and the time frame will depend on the situation.

Forbearance is not a long-term solution

It is important to understand that mortgage forbearance is typically granted to homeowners faced with short-term financial difficulties. If your mortgage is upside-down and you cannot keep up with your payments, forbearance may not be a workable solution. You may need a permanent loan modification. Our lawyers know all of the available options and can guide you toward the one that is most appropriate based on your situation.

Contact Our Miami Attorneys To Discover Your Options

To learn more about your options, call (305) 969-3602 or send an email to schedule a comprehensive consultation with our experienced loan modification attorneys in Miami


MIAMI, FL 33176
PHONE: (305) 969-3602


PHONE: (305) 969-3602


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