October 13, 2009
CLIENT/BORROWER: Edmond
LENDER: Chase
TERMS: They will not do a modification on a second mortgage but are willing to a repayment plan affordable to client's budget.
| October 14, 2009
CLIENT/BORROWER: Linda and Mike
LENDER: Beneficial
ORIGINAL PAYMENT: $408.95
MODIFIED PAYMENT: $205.00
MONTHLY SAVINGS: $203.95
TERMS: The Lender, spoke with Jeremy Will ID#31397 agreed to lower interest rate and bring client current. The client is five months behind and owes about $2500 on this second mortgage. The Old Interest Rate was 14.77% and the New Interest Rate will be 5.75%. The lender will activate this agreement with a down payment of $408.95 from client.
| October 14, 2009
CLIENT/BORROWER: Jean and Charles
LENDER: Citimortgage
ORIGINAL PAYMENT: $1,645.63
MODIFIED PAYMENT: $844.61
MONTHLY SAVINGS: $801.02
TERMS: Approved for President Obama's HAMP Program. Lender, spoke with Wanda ID#TH9405, agreed to lower rate for five years and after five years the rate will become market value. The Old Interest RAte was 10.4% and the New Interest Rate is 2% locked at 5% for five years.
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October 14, 2009
CLIENT/BORROWER: Manuel
LENDER: Citimortgage
ORIGINAL PAYMENT: $3,197.00
MODIFIED PAYMENT: $2,753.89
MONTHLY SAVINGS: $443.11
TERMS: Approved for three month MHA Trial Modification. If three months are made on time the client will be reviewed for a longer modification.
| October 15, 2009
CLIENT/BORROWER: Charlotte
LENDER: Citimortgage
ORIGINAL PAYMENT: $829.00
MODIFIED PAYMENT: $662.09
MONTHLY SAVINGS: $166.91
TERMS: Approved for a traditional modification. The Lender lowered client's Old Interest Rate is 7% to a New Interest Rate of 4.87% for the life of loan.
| October 15, 2009
CLIENT/BORROWER: Beverly
LENDER: Saxon
ORIGINAL PAYMENT: $926.00
MODIFIED PAYMENT: $835.07
MONTHLY SAVINGS: $90.93
TERMS: Approved for Five Year Modification Program. The Client's Old Interest Rate is 9.25% and the New Interest Rate is 6.625%. After the five years client can reapply or refinance.
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October 15, 2009
CLIENT/BORROWER: Daniel and Patrice
LENDER: Citimortgage
ORIGINAL PAYMENT: $3,119.62
MODIFIED PAYMENT: $2,016.31
MONTHLY SAVINGS: $166.91
TERMS: Approved for the Making Home Affordable Program for five years at 2% interest rate and it will increase 1% each year, but not to exceed 5%. Previous Interest Rate was 5.75%.
| October 15, 2009
CLIENT/BORROWER: Christopher
LENDER: National City
ORIGINAL PAYMENT: $1,613.00
MODIFIED PAYMENT: $1,333.67
MONTHLY SAVINGS: $279.33
TERMS: Approved for Three Month Forbearance Program. After three months of payments are made will be reviewed for permanent modification.
| October 15, 2009
CLIENT/BORROWER: Debra
LENDER: Bank of America
ORIGINAL PAYMENT: $2,517.94
MODIFIED PAYMENT: $1,661.59
MONTHLY SAVINGS: $856.35
TERMS: Approved for the Making Home Afforadable Program.
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October 16, 2009
CLIENT/BORROWER: James and Michelle
LENDER: ASC
ORIGINAL PAYMENT: $1,955.34
MODIFIED PAYMENT: $1,062.09
MONTHLY SAVINGS: $893.25
TERMS: The lender, spoke with Maranda ID# RYK approved a modification with a down payment of $1,955.34 due on 10/28/09. The client was twelve months behind owing $14,864.16. The Old Interest Rate of 6.75% was lowered down to the New Interest Rate of 5%. The first new mortgage payment is not due until 12/1/09.
| October 16, 2009
CLIENT/BORROWER: Lynda and Leon
LENDER: MGC Mortgage
ORIGINAL PAYMENT: $1,556.30
MODIFIED PAYMENT: $1,417.25
MONTHLY SAVINGS: $139.05
TERMS: Approved for forbearance plan. After making new lower monthly payment for three months. The client's payment will be lowered again to $1317.67 while being reviewed for permanent loan modification.
| October 16, 2009
CLIENT/BORROWER: Stephen
LENDER: Wells Fargo
ORIGINAL PAYMENT: $1,591.65
MODIFIED PAYMENT: $1,582.55
MONTHLY SAVINGS: $166.91
TERMS: Approved for three month MHA Trial Modification. The Client was 31 months behind. If new lower monthly payment are made on time. The client will be review for permanent loan modification.
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