New ASC Loan Modification Approval 2% interest & $189,000.00 Off Balance

OK new approval this time it's ASC taking in the you know what! Here is what the Borrower had and now has!

OLD TERMS

$387,490.62 Principal Balance

6.225% Interest Rate 

$2,263.91 PITI -Payment included taxes and insurance

NEW TERMS

218,500.00  Principal Balance

2.225% for the first 5 years

4.00% is the cap or the highest the interest rate can go.

$957.42 PITI - New Payment includes taxes and insurance

 $1117.74 PITI -New Payment includes taxes and insurance after 6 years!

Bank will forgive $189,459.20 of the total balance of $407,959.20 if the borrower does not miss a payment for the next 3 years! 

Check out the APPROVAL HERE! 

2nd Mortgage (Line Of Equity) Bank of America Approval

Client had a 2nd Mortgage with Bank of America and he owed $101.935.19 with late charges and all.  Here is the approval we got the bank to settle for $20,000.00 even.  That's about 19% of the balance that was owed.
Client will save over $244,000.00 since that's what he would have paid back over the life of the loan! Call today 800-208-4753 Let us settle your debts for you!
DOWNLOAD THE ACTUAL APPROVAL BELOW
http://www.mediafire.com/file/5xt6xc5k53jv2h6/BOFA%202ND%20MTG%20APPROVAL%209%2020110001.pdf

Washington's debt-ceiling deal may have made things worse for the U.S. economy, says Mohamed El-Erian

US BANK New Loan Modification Approval

Here is a new loan modification approval with US BANK. My client had an adjustable arm loan with no escrow included in the payments. Borrower is saving over $20,004.60 just in the first 5 years! Check out the approval here.

OLD TERMS

5.875% Adjustable Interest Rate
$2,437.14 Principal and Interest
348.00 Taxes and Insurance
______

$2,785.14 Total Principal and Interest Taxes and Insurance

NEW TERMS


4.25% Fixed Interest Rate for 5 years
$2,103.73 Principal and Interest
$348.00 Taxes
______.

$2,451.73  Total Principal and Interest Taxes and Insurance

NEW TERMS

4.875% Fixed Interest Rate for remaining term of 22 years 

$2,226.67 Principal and Interest 

$348.00 Taxes 

______.

$2,574.67  Total Principal and Interest Taxes and Insurance

Borrower is saving over $75,000.00 over the life of the loan

Obama Administration Defends Housing Bailout

Will Banks Be Forced to Reduce Loan Principal?

It's the Inequality, Stupid

A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.

 

 Read the rest of the file HERE

Get Started today Refinance Interest Rates starting at 4.50% - 4.75% 

Loan Modifications We Deal with All Lenders Interest Rates starting at 2.50% 

 

Turning the Tables: Philadelphia Man Forecloses on Wells Fargo Office

A feud between a homeowner and his mortgage company ends with an order to seize property – but it's not in the order you might expect.
Patrick Rodgers is taking his frustration all the way to the bank – literally. When he was fed up with Wells Fargo's lack of answers, he sued them. When they still paid him no heed, he foreclosed on the company's local office.

Read more: http://newsfeed.time.com/2011/02/18/turning-the-tables-philadelphia-man-forecloses-on-wells-fargo-office/#ixzz1EKhh04IZ

Refinance

Purchase Loans

Short Sales

Loan Modification

New Loan Modification Approval Central Mortgage Company!

This new approval is from Central Mortgage Company.  The borrower had a pay option arm which is the worse possible loan you could have since the balance keeps going up every month. To make matters worse the interest rate was adjustable at 6.875%.  Also there comes a time in this type of loan that you will not be allowed to pay just the minimum payment and you will have to pay the full Amortized Payment (Principal, Interest, Taxes & Insurance) in order to stay current on your mortgage.   Here is the Loan Modification terms from Central Mortgage Company below:

NEW LOAN MODIFICATION TERMS

$229,403.70 LOAN BALANCE
4.0% Interest Rate for first 2 Years $764.68 Interest Only
2% Interest Rate on the 3rd Year $1009.07 Principal and Interest
3% Interest Rate on the 4th Year $1119.19 Principal and Interest
4% Interest Rate on the 5th Year $1231.41 Principal and Interest
4.75% is the Interest for the remaining loan term (20 years) $1316.10 Principal and Interest 
ACTUAL APPROVAL 



OLD MORTGAGE TERMS

$229,403.00 LOAN BALANCE
6.875% Interest Rate
Pay Option Loan -No Principal or Interest were being paid towards the loan so the borrowers
balance kept going up every month. 
$1020.69 Minimum payment which ($375.00) was Property Taxes and Insurance.
Fully Amortized at 6.875% would have been $1,882.02 with Property Taxes and Insurance
best case scenario if the Interest Rate would have been a Fixed Rate which it was not.



Benefits of New Loan Terms

The New Loan Terms are that the Borrower will now be able to see their Mortgage Balance  reduced every month with each mortgage payment made.  The Interest rate is fixed
and the loan is impounded also.  The fully Amortized Rate of 4.75% after all adjustments are at
current market interest rates

Feel free to contact me with any questions you may have regarding loan modifications.  Start today
Save your house and your money! Banks are doing loan modifications