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    • Bankruptcy for an Individual
    • Bankruptcy For Small Business
    • Bankruptcy Help For Creditors
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      • Beyond the Paperwork: It’s Not Just Filling Out Forms, and Understanding The Attorney’s Role
      • Arizona Exemptions (download)
      • Federal Exemptions (download)
      • Chapter 7 Flowchart (download)
      • Chapter 13 Flowchart (download)
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      • How to Protect Your Social Security
      • Superior Court Process & Helpful Links
      • Important Chapter 7 & 13 Deadlines
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Category: Loan Modification

A loan modification amends the original loan agreement. The terms of the modification must be agreed to by the parties.

  • 2017 – New Loan Modification Program for FNMA & FREDDIE Mac

    Published On: March 21, 2017

    Fannie, Freddie Create New Mortgage Loan Modification Program By Geoff Walsh, a staff attorney at the National Consumer Law Center (NCLC) who focuses on foreclosure prevention, consumer bankruptcy, and other consumer credit issues.  An active [...]

  • student loan

    Nationstar Mortgage to Pay 1.7M For Failure to Report Accurate Loan Data

    Published On: March 20, 2017

    Nationstar Mortgage fails to report accurate mortgage transactions Nationstar to pay 1.75 Million for failure to report accurate loan data. The Consumer Financial Protection Bureau (CFPB) took action against Nationstar Mortgage LLC for [...]

  • foreclosure sign

    Another Loan Workout Nightmare, plus Resources for Saving Your Home: Arizona

    Published On: April 26, 2015

    Hundreds of thousands of people try to save their homes are defrauded by “mortgage modification” and other scams. Desperate people find themselves and their family on the street after trying [...]

  • house made of money

    CFPB Issues Guidance on Housing Counselor Requirements

    Published On: April 15, 2015

    Why Do Some Law Firms Act Like Used Car Sales Lots? The Consumer Financial Protection Bureau (CFPB) (4/15/15) issued a final interpretive rule on how to provide mortgage applicants with a list of local homeownership [...]

  • foreclosure, auction and eviction

    Fannie Mae Auctions “Sour” Mortgage Loans

    Published On: April 4, 2015

    Fannie Mae clearing books of non-performing loans. Is this the beginning of a new foreclosure cycle? Why Do Some Law Firms Act Like Used Car Sales Lots? According to Bloomberg News: Fannie Mae will begin [...]

  • foreclosure

    Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help

    Published On: July 25, 2014

    'CFPB Files Suits for Operations that Used Deception and False Promises to Collect More than $25 Million in Illegal Fees from Distressed Homeowners. This is just a drop in the bucket compared to the amount [...]

  • Feds Announce Litigation Against Law firms for Deceptive Loan Modification Practices

    Published On: July 25, 2014

    Litigation against law firms, greedy attorneys, affiliated companies and others that claimed to perform work on behalf of homeowners struggling to pay their mortgages. The other day a caller said "I used a document preparer [...]

  • $16.2 Million Jury Verdict Against PHH Mortgage for Botched Loan Modification

    Published On: July 19, 2014

    PHH suffered one outrageous atrocity after another on the homeowner. Jury disgusted and awarded a $16.2 million. The other day a caller said "I used a document preparer or bankruptcy petition preparer. Certainly they have [...]

  • HAMP Program – New Defaults Coming as Interest Rises

    Published On: March 13, 2014

    HAMP report indicates that nearly 30 percent of those who qualified for HAMP relief have defaulted again. The other day a caller said "I used a document preparer or bankruptcy petition preparer. Certainly they have [...]

  • real estate

    FHA’s Back to Work Program for Home Buyers

    Published On: December 27, 2013

    For several years I have been explaining that no one can predict the length of time that FHA, Fannie Mae or HUD, or a specific lender will require a homeowner to wait to qualify for a new home loan after a prior foreclosure, short sale or bankruptcy.

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5 / 5

They are compassionate truth-tellers who educate and empower

They are compassionate truth-tellers who educate and empower. M.R. Diane and Jay are caring and competent professionals who have helped so many people through difficult legal processes. They are compassionate truth-tellers who educate and empower as much as they provide legal assistance. Highly recommend. [...]

5 / 5

There will never be a way to repay all you did for us

"There will never be a way to repay all you did for us." J & P I thought lawyers were all greedy. You made sure we could afford your fees which allowed us to keep our car. There will never be a way to repay all you did [...]

5 / 5

thank you for all of your help

"thank you for all of your help" C.S. As difficult as this entire process was emotionally and physically bringing everything together my experience with you has been amazing and much easier than I thought it would be thank you for all of your help. [...]

5 / 5

Communication is key when entering into a bankruptcy

“Communication is key when entering into a bankruptcy” K.H. I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the [...]

5 / 5

Mrs. Drain is very direct and clear

"Mrs. Drain is very direct and clear." Anonymous When my wife and I first considered bankruptcy we contacted one of the TV advertised law firms that specializes in bankruptcy law. On our appointment we met a group of the most inept people I have ever met. It was exactly [...]

5 / 5

thank you for helping me keep my car and some self respect

"Thank you for helping me keep my car and some self respect." G. Diane – thank you for helping me keep my car and some self respect. This was so hard to do. I did feel a sense of relief once I saw you and we actually were [...]

5 / 5

e were amazed at how accessible Diane was

"We were amazed at how accessible Diane was." Robert We were amazed at how accessible Diane was. Weekdays or weekends at all times of the day it didn’t matter. She was quick to respond to our questions or needs. In short Diane did a great job for us [...]

5 / 5

Filing for bankruptcy can be a stressful life event

“Filing for bankruptcy can be a stressful life event” R.A. Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people [...]

5 / 5

I can not imagine being treated with more professionalism

"I can not imagine being treated with more professionalism!" S. I want to express my appreciation to you and your assistant Jay for all your hard work. I can not imagine being treated with more professionalism and respect that you did. Going to the entire bankruptcy process [...]

5 / 5

I am glad that Diane was the person to lead me through it

"I am glad that Diane was the person to lead me through it." T. I wish that I did not have to file for bankruptcy protection; nevertheless, having to go through the process I am glad that Diane was the person to lead me through it. Diane definitely [...]

5 / 5

Diane and Jay are very knowledgeable, and they guided me from beginning to end.

“Diane and Jay are very knowledgeable, and they guided me from beginning to end.” M.M. Diane and Jay are very knowledgeable, and they guided me from beginning to end. They were so organized, that each step was calculated. They are very nice, compassionate and professional. Thank you, [...]

5 / 5

I have a much clearer understanding of my choices and that has made the financial challenges much easier to deal with

I have a much clearer understanding of my choices and that has made the financial challenges much easier to deal with. T.P. Feeling the questionable unease of financial hardship can be one of life’s most serious challenges; not knowing where to turn for information, who to trust, [...]

5 / 5

I feel better mentally and physically, just like you said I would

"I feel better mentally and physically, just like you said I would!" M. Thank you once again for your incredible knowledge and persistence with these people. Ever since we have done the filing, I feel better mentally and physically, just like you said I would. [...]

5 / 5

Diane and Jay are extremely attentive and thorough

“Diane and Jay are extremely attentive and thorough.”  W.R. I want to thank you so much for assisting us in getting this squared away. Diane and Jay are extremely attentive and thorough in getting things taken care of. Merry Christmas  W.R. […]

5 / 5

You folks are the BEST OF THE BEST in Arizona

“You folks are the BEST OF THE BEST in Arizona” M.H. You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process [...]

5 / 5

Diane Helped me Maneuver the Process of Bankruptcy Through an Unusual Situation

“You can feel confident in her ability to provide you with any and all answers that may arise.  ” D.L. I can’t say enough about the professionalism for Diane Drain and Jay. She helped me maneuver the process of Bankruptcy through an unusual situation. I highly recommend Diane [...]

5 / 5

her greatest goal is her clients best interests

“her greatest goal is her clients best interests” R.M. Diane called me today and kindly took 45 minutes of here very valuable time to determine the best course of action for my financial problems. Turns out bankruptcy and her chance for a legal fee were ruled out [...]

5 / 5

She was more interested in my welfare than in charging a fee

She was more interested in my welfare than in charging a fee. L.B. I cannot tell you how grateful I am that Diane Drain took my call. I was desperate and she made me feel that I could sleep through the nite. She explained all my options [...]

Law Off of D.L. Drain P.A., Arizona Bankruptcy Lawyer | "Helping You Get Your Life Back on Track"

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We are a debt relief agency; we help individuals and small businesses through the bankruptcy process. Attorney Advertising. This website is designed for general information only. Any information you obtain from this website should not be construed as legal advice, nor as grounds for forming an attorney-client relationship. You should consult an attorney for information on obtaining formal legal advice.

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