October 6, 2009
CLIENT/BORROWER: Stacey
LENDER: GMAC
TERMS: The lender will not modify loan but is willing to work out a debt settlement. The balance of mortgage is $96,000. Lender, spoke with Karen in Recovery has offered purchase of the home free and clear to our client of $35,000. If the client does not have $35,000 at this time, the lender will allow client to resume their normal monthly payment of $1,119.00 a month for up to twelve months and will not charge any interest. Client will only be paying principal on the original loan amount of $96,000. After twelve months, lender will consider and is open to re-negotiate the final pay off.
| October 6, 2009
CLIENT/BORROWER: Ava
LENDER: Bank of America
ORIGINAL PAYMENT: $1,459.69
MODIFIED PAYMENT: $1,446.25
MONTHLY SAVINGS: $13.44
TERMS: This client did not qualify for goverment program. The lender, spoke with Quinn ID# RJL was willing to include past due amount of $12,000 of 8 months of unpaid mortgage payments into new monthly payment plan starting on 11/1/09.
| October 7, 2009
CLIENT/BORROWER: George and Michelle
LENDER: Bank of America
ORIGINAL PAYMENT: $4,390.89
MODIFIED PAYMENT: $3,249.29
MONTHLY SAVINGS: $1,141.60
TERMS: Approve for three month MHA Trial Modification Program. If payments are on time for three months, the client will be reviewed for this to be a longer term modification program.
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October 7, 2009
CLIENT/BORROWER: Jason
LENDER: Bank of America
ORIGINAL PAYMENT: $1,756.00
MODIFIED PAYMENT: $1,396.09
MONTHLY SAVINGS: $359.91
TERMS: Approved for Three Month MHA Trial Modification Program. If mortgage payments are made on time for three months, the client will be reviewed for long term modification program.
| October 8, 2009
CLIENT/BORROWER: Annette and David
LENDER: Bank of America
ORIGINAL PAYMENT: $1,896.52
MODIFIED PAYMENT: $1,711.64
MONTHLY SAVINGS: $184.88
TERMS: Approved for trial modification. We are still working with lender trying to approve client for second long term program.
| October 9, 2009
CLIENT/BORROWER: Jim and Kimberly
LENDER: Marix Service
ORIGINAL PAYMENT: $2,703.04
MODIFIED PAYMENT: $2,001.68
MONTHLY SAVINGS: $701.36
TERMS: Approved for loan modification. Spoke with Beverly of Marix. Original Interest Rate was 8.87% ARM, new Interest rate will be 4% for twenty four months. After twenty four months Interest Rate will be fixed at 6.5% for the life of the loan.
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October 12, 2009
CLIENT/BORROWER: James
LENDER: Nation Point
ORIGINAL PAYMENT: $2,013.18
MODIFIED PAYMENT: $1,474.10
MONTHLY SAVINGS: $539.08
TERMS: Approved for three month trial modification. Called Lender, spoke with Patrick ID#YJPGN. Client was eleven months past due owing $22,144.98 not including attorney fees or late fees. The first payment is due on 11/1/09. The client had a sale date of 10/6/09. The lender suspended the sale.
| October 12, 2009
CLIENT/BORROWER: Yolanda
LENDER: Wells Fargo
ORIGINAL PAYMENT: $1,864.70
MODIFIED PAYMENT: $1,154.53
MONTHLY SAVINGS: $680.17
TERMS: Approved for Special Forbearance Program. After first three new monthly payments are made. The client will be reviewed for longer term assistance.
| October 12, 2009
CLIENT/BORROWER: Jay and Deanna
LENDER: Ocwen
ORIGINAL PAYMENT: $1,230.67
MODIFIED PAYMENT: $858.43
MONTHLY SAVINGS: $372.24
TERMS: Approved for Modification with following terms. Client needs to sign documents and send down payment of $991.00 by 10/23/09. The client was 6 months behind and in foreclosure. Their old Interest rate was 10%, their new interest rate is 3.95%. The first payment will not be due until 12/1/09 and the modification will last five years.
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October 13, 2009
CLIENT/BORROWER: Greg
LENDER: First Franklin
ORIGINAL PAYMENT: $1,815.63
MODIFIED PAYMENT: $1,134.64
MONTHLY SAVINGS: $680.99
TERMS: Approved for trial modification. Client was seven months behind owing $12,709.41, spoke with Chris ID# TK6 at lender and client is not in foreclosure.
| October 13, 2009
CLIENT/BORROWER: Landall and Karma
LENDER: Bank of America
ORIGINAL PAYMENT: $1,775.00
MODIFIED PAYMENT: $1,466.00
MONTHLY SAVINGS: $309.00
TERMS: The lender is offering a repayment modification plan pending updated documents from the client. Bringing current the $39,857.82 total of being 31 months behind.
| October 13, 2009
CLIENT/BORROWER: Grady and Teresa
LENDER: AHMSI
ORIGINAL PAYMENT: $1024.79
MODIFIED PAYMENT: $732.94
MONTHLY SAVINGS: $291.85
TERMS: Lender, spoke with Kris ID# 4EG, agreed to change Old Adjustable Interest Rate of 10.625% to New Fixed Interest Rate of 4.04%.
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