Rate reduced from 9.2% to 1.11%!!
Payment reduced from $545.00 to $143.25.
Modification after Chapter 7 bankruptcy discharge
Payment reduced from $1486.19 to $1185.85
Payment reduced from $3053.68 to $494.13
Debt settled from $107,000 to $11,000 . 10% net settlement ~ 90% discount!
Payment reduced from $1040 to $883.83
even though client had two previous modifications
Rate reduced from 6% to 4.25%
Partial waiver on past due payments
60 Months Delinquent
Rate reduced to 2%, foreclosure sale date halted twice
Payment reduced from $345.99 to $266.50
Modification after Chapter 7 Bankruptcy
Payment reduced from $1165 to $850.58
Original balance was $51,000.00
Settled for $10,500!
Original balance was $27,691.00
Settled for $7500!
LOAN MODIFICATION AFTER CHAPTER 7 BANKRUPTCY
Homeowner filed Chapter 7 on 8/25/10 and discharged all of her mortgage debts. Regular payments were $4529 on a loan amount of almost $650,000 originally with Aurora Loan Servicing. This borrower had no success on her own attempting to complete a loan modification with two previous law firms. Homeowner was almost 3 years behind on payments and required contribution income and multiple banking regulatory complaints to be filed for completion. Her new payment is $2764.42 at a 2% rate for the first 5 years of the loan. The rate will go up 1% each year thereafter and cap at a 4.7% for duration of the loan, with an incentive of a principal reduction if payments are paid on time.
OLD PAYMENT = $3,270
NEW PAYMENT = $2,081
Client came to our office after working with a law firm for over five months with an option arm mortgage with Wells Fargo. Client was over 12 months past due and self employed. Client owed more on home than it was worth with a payment of $3,270 that was modified to a fixed payment amount of $2,081 by Wells Fargo based on 31% of client’s gross income.
OLD PAYMENT = $2,363
NEW PAYMENT = $1,697*
*INCLUDES ESCROW PLUS $90K PRINCIPAL REDUCTION
Client came to our office with a breached modification with Bank of America. Client was over thirty-nine months past due and self employed. Client had received a loan modification through First Franklin before loan was sold to Bank of America where the modification did not transfer with the loan. The loan was ultimately modified to a fixed payment amount of $1,697 from $2,363 to include a $89,896 principal reduction in Bank of America’s permanent loan modification.
OLD PAYMENT = $5,253
NEW PAYMENT = $2,438
Client came to our office three months past due on the mortgage with Midland Mortgage. Client is a cosmetic surgeon and was experiencing a slow time in business. Client owed more on the million dollar home than it was worth with a payment of $5,253 that was permanently modified to a new payment in the amount of $2,438 by Midland Mortgage.
The client saved $800 per month on their payments!
Client was 52 months past due
Old Payment = $1556.00
New Payment = $778.91
Old mortgage payment was over $6100.00!
Old Payment = $1493.00; rate 4.9%
New Payment = $859.00; rate 4.34%
Completed a deal with a second mortgage debt buyer.
Client came to Fresh Start late November 2011, with a sale date for 12-16-11. We negotiated postponement of the sale date and completed the modification before the end of the year.
Orignal Payment = $865.00; rate 6.5%
New Payment = $613.00; rate 4%; 30 year fixed
28k behind on payments moved to the back of loan
$88,900 Principal Balance Reduction
Rate Lowered from 7.5% to 4.25%
$108,000 Principal Balance Reduction
Original Payment = $1,437
New Payment = $958
Client was 30 payments past due, yet saved his home.
2nd Mortgage was Completely Forgiven
Original Payment = $2,677
New Payment = $1,973
Original Payment = $3,200
New Payment = $2,544
Original Payment = $2,271
New Payment = $1,324
Original Payment = $1,858
New Payment = $1,168
Client was more than 22 months late,
and foreclosure sale date was 3 days away.
Original Payment = $1,830.23
New Payment = $1,355.21
Past Due Over $17,000 moved to the back of the loan.
Original Payment = $2,120
New Payment = $940
Payments cut in half
Original Payment = $2800.00
New Payment = $982.93
Original Rate = 9.65%
New Rate = 2% for the LIFE of the loan!
Original Payment = $5487.32
New Payment = $3438.35
15% reduction in payments
12 months of past due payments recapitalized
This client had her home built in 1995. Delinquent 10 months. Ocwen gave her a loan mod last year and then they canceled the agreement FOR NO REASON.
Original Payment = $559
New Payment = $394
Original Payment = $1,578
New Payment = $859
Original Rate = 8.875%
New Rate = 3.875%
$49,872.50 moved to back of loan
First payment pushed out 2 months
Original Payment = $2,851
New Payment = $1,529
Old Payment $1555.23
New Payment $1241.15
Nine months behind on mortgage payments
$15,000 moved to the back of the loan.
This modification was achieved after the borrower had the mortgage debt DISCHARGED UNDER CHAPTER 7.
This is a BIG milestone to overcome.
The client was in adjustable rate mortgage that reset from $1200.00 to $2000.00 per month. This case was opened up on 02-24-12 at Fresh Start Legal Network. Borrower had fallen behind 1 year and had a sale date for 02-29-12. We successfully negotiated and postponement the sale as well as a reduction of payment to $1295.28
Another ABSOLUTELY SATISFIED CUSTOMER!