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Can I modify my investment property mortage in NY?

If a person owns investment property in New York and it's subject to a mortgage, the same principles of loan modification apply that if the bank and the owner agree to a change in the terms, which usually means a reduction in the monthly rate of payment. Yes, you can have a modification. It always requires the agreement unless you're in bankruptcy court, and then the bankruptcy judge can do certain things, but outside a bankruptcy, you need an agreement of the two parties. I'm Carl Person, a New York lawyer and a fighter to keep people in their homes.

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attorney: Carl E. Person