Seattle and Tacoma Loan Modification Attorneys

Welcome to the Loan Modification Department of Dickson Frohlich, Attorneys at Law. In handling paperwork and aggressively negotiating with banks on your behalf, our main goal is to keep you, the homeowner, in your home.

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Loan Modifications

A loan modification is a process in which the lender and the borrower of a loan negotiate to modify the terms of the loan outside of the original contract terms. Loan modifications can be extremely beneficial to a borrower in that a loan modification may reduce the interest rate, reduce some of the principal, reduce late fees or other penalties, or even lengthen the term of the loan. Because a properly modified loan may allow a borrower to remain in his home and avoid foreclosure, loan modifications are becoming more and more appealing to homeowners who are struggling to make their mortgage payments each month and who do not want to lose their homes. Read more.

Loan Modification Practice

Dickson Frohlich’s attorneys possess an immense understanding of the loan modification process and procedures. Our attorneys assist clients throughout Seattle, Tacoma, and the Puget Sound region in their individual loan modification matters and have extensive experience in working directly with lenders. Because the loan modification process is often confusing and time-intensive, seeking professional legal help is your best bet. Dickson Frohlich’s experienced attorneys stand ready to represent you in your loan modification needs.

The Loan Modification Process

Seeking a loan modification is never an easy process. Besides the necessary documentation required in negotiating a loan modification, modifying a loan can be time-intensive and confusing. Often, a borrower must work with a lender that is dealing with thousands of other homeowners who are attempting to save their homes through the loan modification process. The unfortunate result is that many homeowners are forced to wait for a substantial period of time before being helped, or they are left without any help altogether.

Although loan modification requirements will vary from lender to lender, the documents needed to negotiate a loan modification are generally the same. These required documents may include, but are not limited to, your most recent tax return, a statement of your complete income, your recent pay stubs, and a written affidavit describing the hardship you are experiencing in meeting your financial obligations. Because a loan modification requires many of these documents, the earlier you start, the better.

In addition to the required documents, there are three central factors that a lender takes into consideration in determining whether to grant a loan modification: 1) the financial hardship of the borrower; 2) whether the borrower is currently delinquent on mortgage payments or is at risk of becoming delinquent in the immediate future; and 3) the borrower’s debt-to-income ratios. After reviewing and analyzing these three central factors, a lender will then determine whether to grant a loan modification to the borrower. Keep in mind that this process takes time and generally is not simple. With borrowers being forced to wait substantial periods of time before being helped, the loan modification process can be overbearing to an individual who is attempting to work one-on-one with a lender.

As previously stated, in determining whether to grant a loan modification, there are three central factors that a lender takes into consideration: 1) the financial hardship of the borrower; 2) whether the borrower is currently delinquent on mortgage payments or is at risk of becoming delinquent in the immediate future; and 3) the borrower’s debt-to-income ratios. While the first two factors seem relatively straightforward, understanding your debt-to-income ratios is oftentimes confusing and may seem complex; yet understanding your debt-to-income ratios is very important.

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    Attorney Thomas L. Dickson

    Thomas L. Dickson

    Tom is an experienced litigator and the founding partner of the Dickson Frohlich. For over 30 years, he’s helped clients prevail in their real estate, construction, and business law matters.

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    Attorney Robert P. Dickson

    Robert P. Dickson

    The core of Rob’s legal practice is civil litigation, with an emphasis on construction, real estate, and business law. He represents a wide range of clients, from large construction companies to individual homeowners.

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    Attorney Daniel J. Frohlich

    Daniel J. Frohlich

    Dan’s legal practice focuses on civil litigation, real estate law, business law and probate law. He has more than 10 years of experience as an attorney serving clients throughout Western Washington.

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    Attorney Mark S. Johnson

    Mark S. Johnson

    Mark’s legal practice focuses on civil litigation, real estate law, business law and family law. He works tirelessly to help his clients achieve the outcome they are looking for.

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    Attorney Daniel E. Pizarro

    Daniel E. Pizarro

    As an associate at Dickson Frohlich, Daniel is active in the firm’s civil litigation department. His practice is mainly centered around real estate law, landlord-tenant law, construction law, and probate law.

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    Attorney George Knight

    George Knight

    As an associate at Dickson Frohlich, George is active in the firm’s civil litigation and transactional departments. His practice is mainly centered around business law, real estate law, construction law, employment law, and probate law.

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    Attorney Chris J. Lindemeier

    Chris J. Lindemeier

    As an associate at Dickson Frohlich, Chris practices in a wide range of areas, including business law, real estate law, civil litigation, and intellectual property law.

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    Attorney Alexander J. Wisbey

    Alexander J. Wisbey

    Alexander Wisbey comes to the firm with 5 years of experience as a litigator and trial attorney. He has first chaired several jury trials and has extensive experience handling arbitrations, mediations, depositions, and settlements.

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    Attorney Jennifer Yoo

    Jennifer Yoo

    Jennifer is an associate attorney at Dickson Frohlich where her current practice focuses on real estate law, contract and commercial disputes, and business law.

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    Attorney Cambria A. Queen

    Cambria A. Queen

    Cambria is an Associate with Dickson Frohlich PS in the civil litigation department, where she practices primarily real estate and probate law.

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    Attorney Alex J. Britain

    Alex J. Britain

    Since becoming an attorney, Alex Britain has practiced extensively in the areas of estate planning, probate, and civil litigation, especially related to probate issues.

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    Attorney Katherine E. Baals

    Katherine E. Baals

    As an associate at Dickson Frohlich, Katherine practices in a range of areas, including real estate, construction, business, and civil litigation.

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    It’s a pleasure to work with the guys at Dickson Frohlich. One of the first things that stood out to me was how down to earth and friendly everyone at the firm is. I would definitely recommend them.

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