Stop Foreclosure and Lower Your Mortgage Payment
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If you are behind on your mortgage or facing foreclosure in Staten Island, Brooklyn, Queens, Manhattan, the Bronx, or New Jersey — you may have more options than you think. The Law Office of Jay Meyers has helped hundreds of New York and New Jersey homeowners modify their mortgages, stop foreclosure, and keep their homes through skilled negotiation, lender litigation, and the powerful EDNY Loss Mitigation Program.
With over 30 years of experience and deep knowledge of both NY and NJ mortgage law, Jay Meyers fights for homeowners at every stage — from initial delinquency to active foreclosure proceedings.
Act Now — Don't Wait. The earlier you contact us, the more options you have. Once a foreclosure judgment is entered, options narrow significantly. If you have missed even one payment, call us today for a free consultation.
What Is Mortgage Modification?
A mortgage modification is a permanent change to your loan terms — not a temporary forbearance. Modifications can include:
⚠ Time Matters
The longer you wait, the fewer options you have. A bankruptcy filing stops all collection activity immediately — the same day you file. Creditors cannot call, sue, garnish your wages, or foreclose while the automatic stay is in effect. Call now →
- Interest rate reduction — often to as low as 2–3%, fixed for the life of the loan
- Term extension — stretching the remaining loan over a longer period to lower monthly payments
- Principal reduction or deferral — reducing what you owe, or moving a portion to the end of the loan
- Capitalization of arrears — rolling missed payments into the loan balance to bring you current
The result: a new, lower monthly payment that you can actually afford — and your home stays yours.
The EDNY Loss Mitigation Program
The Eastern District of New York Bankruptcy Court developed a Loss Mitigation Program that is one of the most powerful tools available to homeowners in financial distress. Here is why it matters:
“Jay gave me reassurance and hope. He helped me understand that there is a life past all of this — and he delivered. I will forever be grateful.”
Ray Levato — Bankruptcy Client • Read All Reviews →
- It compels your lender to negotiate in good faith under court supervision
- It sets court-enforced deadlines — the lender cannot simply ignore your modification request
- It puts the power of a federal judge behind your negotiation
- It can be combined with Chapter 13 bankruptcy to simultaneously stop foreclosure and reorganize other debts
We have used the EDNY Loss Mitigation Program successfully for numerous Staten Island, Brooklyn, and Queens homeowners who had been ignored or stalled by their lenders for months or years.
Foreclosure Defense in New York & New Jersey
Where modification is not possible — or while a modification is pending — we actively defend against foreclosure in court. Our foreclosure defense strategy includes:
Forensic Loan Analysis
We review your original loan documents, chain of title, and servicing records to identify lender violations, predatory lending, wrongful servicing, or standing issues that can be used as defenses or counterclaims.
Filing Counterclaims
If your lender violated RESPA, TILA, or engaged in wrongful servicing practices, we file counterclaims seeking damages — turning the lender's lawsuit into a two-sided fight.
Dismissal Motions
Many foreclosure complaints contain procedural defects. We review every foreclosure action for grounds to file dismissal motions, which can buy time and leverage for modification negotiations.
Bankruptcy + Loss Mitigation
Filing Chapter 13 bankruptcy immediately stops a foreclosure via the automatic stay — even if a sale has been scheduled. Combined with the EDNY Loss Mitigation Program, this gives us the framework to negotiate your modification under court supervision.
Meet Daniel Volis — Modification Manager
Our firm employs a dedicated Modification Manager, Daniel Volis, who holds a B.A. from CUNY and an M.A. from NYU and speaks fluent Russian. Daniel is hands-on with every modification file — he has cultivated personal contacts at many leading New York lenders and servicers and has obtained numerous modification approvals that other attorneys could not.
The Modification Process — Step by Step
- Free consultation and case analysis — We review your loan, income, and arrears
- Lien and judgment search — We identify any other liens on the property that need to be addressed
- Document preparation — We prepare your complete modification package: financials, hardship letter, and all required forms
- Lender submission and follow-up — We submit and actively follow up, using court programs where appropriate
- Trial modification — If approved, you make reduced trial payments for 3 months
- Permanent modification — After successful trial payments, the new terms become permanent
Ready to Take the First Step?
One phone call can change everything. We will tell you exactly where you stand — no jargon, no pressure, no obligation. Most clients feel better after the very first conversation.
Confidential • No obligation • Habla Español • We come to you if needed
Related Legal Topics
- Bankruptcy & Chapter 13 — Chapter 13 can stop foreclosure immediately and reorganize mortgage arrears.
- Reaffirmation Agreements — What happens to your mortgage if you file Chapter 7?
- NJ Mortgage Modification — Facing foreclosure in New Jersey?
- Our Case Results — See how we have helped other homeowners in foreclosure.
Mortgage Modification FAQ
How long does a mortgage modification take in New York?
The process typically takes 3–6 months, though it can take longer depending on your lender and the complexity of your file. Using the EDNY Loss Mitigation Program in bankruptcy can significantly speed up the timeline by compelling lenders to engage within court-set deadlines.
Can I get a mortgage modification if I am already in foreclosure?
Yes. In fact, many lenders are more receptive to modification when foreclosure has already begun. We use foreclosure as negotiating leverage and can file counterclaims and dismissal motions to slow the process while a modification is reviewed. The sooner you call us, the more options are available.
What documents do I need for a mortgage modification?
Lenders typically require 2 years of tax returns, 2-3 months of bank statements, recent pay stubs or proof of income, a hardship letter, a monthly income/expense worksheet, and mortgage statements. We guide you through the entire documentation process.
Will my interest rate actually be lowered?
In many cases, yes. Modifications often result in interest rate reductions, sometimes to as low as 2-3%, with the rate fixed for the life of the loan. Some programs include principal reduction or deferral of arrears to the end of the loan. Results vary by lender and program.
What is the EDNY Loss Mitigation Program?
The Eastern District of New York Bankruptcy Court developed a Loss Mitigation Program that creates a court-supervised framework for mortgage modification negotiations. It compels lenders to participate in good faith negotiations under court-set timelines — making it an extremely powerful tool for homeowners in bankruptcy.