October 1, 2009
CLIENT/BORROWER: Eric and Maya
LENDER: Countrywide
ORIGINAL PAYMENT: $2,304.65
MODIFIED PAYMENT: $1,403.96
MONTHLY SAVINGS: $900.69
TERMS: Approved for President Obama HAMP Program
| October 1, 2009
CLIENT/BORROWER: Donette
LENDER: Bank of America
ORIGINAL PAYMENT: $1,767.77
MODIFIED PAYMENT: $705.44
MONTHLY SAVINGS: $1,062.33
TERMS: Three Month Modification Trial Program. If Client makes monthly mortgage payment on time for
three months they will keep new mortgage rate of 2% for five years.
| October 1, 2009
CLIENT/BORROWER: James and Catherine
LENDER: Citimortgage
ORIGINAL PAYMENT: $1,746.53
MODIFIED PAYMENT: $1,721.15
MONTHLY SAVINGS: only lowered $25.38 but included the $19,211.83 of missed mortgage payments in new payments
TERMS: Approved for Supplemental Modification where the client 11 months of past due payments are rolled into new monthly payment.
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October 1, 2009
CLIENT/BORROWER: Kerry
LENDER: Bank of America
ORIGINAL PAYMENT: $2,604.18
MODIFIED PAYMENT: $2,527.28
MONTHLY SAVINGS: $76.90
TERMS: Approved for Three Month MHA Trial Modification. This client had already been modified earlier this year but was not satisfied and lender had refused to modify again for client. We used our forensic program for client. Through a forensic evaluation loan was remodified again.
| October 1, 2009
CLIENT/BORROWER: George
LENDER: Citi Financial
ORIGINAL PAYMENT: $2,137.92
MODIFIED PAYMENT: $2,067.72
MONTHLY SAVINGS: $70.20
TERMS: Qualified for President Obama's HAMP Program. Original Interest Rate was 5.25%, the new interest rate was lowered to 2.25%. The client was 15 months behind owing $35,302.23. The lender spoke with Leanne ID# T00, lender is not requesting any down payment.
| October 1, 2009
CLIENT/BORROWER: Luanne
LENDER: HFC
ORIGINAL PAYMENT: $2,033.23
MODIFIED PAYMENT: $1,628.59
MONTHLY SAVINGS: $404.64
TERMS: Qualified for two year modification program. Original interest rate was 7.5%, now lowered to new interest rate of 5.25% for 6 months. After first new payment is made, the client will be granted an additional 18 month extension of this new monthly mortgage payment.
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October 2, 2009
CLIENT/BORROWER: Edward
LENDER: Greentree
TERMS: Approved for three month trial period only. Lender was moving this loan into collections and was NOT going to modify. The lender is now not moving loan into collections and will allow us to modify if borrower makes three monthly mortgage payments on time. The lender will then allow us to renegogiate a lower monthly payment.
| October 2, 2009
CLIENT/BORROWER: Luanne
LENDER: HFC 2nd Mortgage
ORIGINAL PAYMENT: $138.88
MODIFIED PAYMENT: $90.55
MONTHLY SAVINGS: $48.33
TERMS: Qualified for two year modification program. New payment for next 6 months. After first new payment is made, the client will be granted an additional 18 month extension of this new monthly mortgage payment.
| October 2, 2009
CLIENT/BORROWER: David
LENDER: Citimortgage
ORIGINAL PAYMENT: $1,888.00
MODIFIED PAYMENT: $1,598.92
MONTHLY SAVINGS: $289.08
TERMS: Approved for MHA Modification Program. Original Interest Rate was 6.375%, new lowered Interest Rate is 4.25%. IF first three new lower mortgage payments are made on time, client will be locked into this new payment for five years.
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October 2, 2009
CLIENT/BORROWER: Karen
LENDER: Wells Fargo
TERMS: Approved for a Moratorium Modification Program. Client is being put on payment plan of $100 a month starting October 31,2009. This will give her time to get caught up on all other expenses. While making these payments client is being reviewed for a longer term modification program that will start after 6th payment.
| October 2, 2009
CLIENT/BORROWER: Victor and Yovanny
LENDER: Chase
ORIGINAL PAYMENT: $1,335.58
MODIFIED PAYMENT: $1,217.76
MONTHLY SAVINGS: $117.82
TERMS: Approved for trial modification program. After first payment is made on 11/1/09, the lender will be put into a permanent modification program.
| October 5, 2009
CLIENT/BORROWER: Arturo
LENDER: Bank of America
ORIGINAL PAYMENT: $2,143.66
MODIFIED PAYMENT: $2,064.94
MONTHLY SAVINGS: $78.72
TERMS: The client has been approved for this modification through lenders HOPE department. The interest rate is still remaining at 8.25%. This modification will last the life of the loan.
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Your results may vary depending on several factors such as lender, terms of original loan, personal hardship, value of underlying property, number of months in arrears, and geographic location of property.
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