Success Stories

 

Raphael - Dallas, TX
Raphael lost his job and had to take a position with a lower pay. His mortgage had a balance of $299,142.06 at a 9.95% interest rate. His property was only worth $238,000. Raphael was unable to make payments for over 8 months and was deep in the foreclosure process.
He was able to reduce his principal balance to $213,516.23 including the arrearage he had from not making payments, reduce his interest rate to 4.64%, and convert it to a fixed rate for the life of the loan. Raphael’s mortgage payment went from $2523.77 per month down to $1146.41 per month.

Ollie - Columbia, MD
Ollie was in a loan with an 8.63% interest rate that was fixed for 30 years. With having his work hours cut and his wife's loss of her job completely, they were unable to afford the current payment once they ran out of their savings.
Ollie was able to reduce his interest rate to 6.50% and extend the term to 40 years to accommodate their new financial abilities and help them maintain the home they loved.

Downs - Rosedale, MD
Mr. Downs had a 2nd mortgage with a balance of $47,119.00 at a rate of 11.50%. His monthly payment was $554.56 and it was a monthly adjustable mortgage.
Mr. Downs was able to modify the 2nd mortgage by reducing the principal balance down to $11,082.00, converting the interest rate to 4.50% fixed for the life of the loan, thereby reducing the monthly payment to $250.27!

Holts - Braford, TN
Mr. Holts had an interest of 7.10% fixed for the life of the loan, however due to a loss in income; he was unable to accommodate the payment any longer.
He was able to reduce his interest rate to 5.25% fixed for the life of the loan which was extended to 40 years, to accommodate his new financial ability.

Dean - Miramar, FL
Dean and his wife were 5 months behind on their mortgage due to a temporary hardship, with an interest rate of 7.5% on an adjustable interest rate; their situation was only going to get worse.
Dean was able to forbear the arrearage along with reducing the interest rate to 5.75% fixed for the life of the loan, allowing Dean to get back on his feet and not have to worry about any future adjustments.

Theresa - North Miami Beach, FL
Theresa was in a bad situation with a Home Equity Line of Credit that was at an interest rate of 12.80% on a $40,560 balance, creating a monthly payment of $442.00. Her property depreciated well below the total outstanding combined mortgage balance. Theresa's goal was to close the HELOC with a one time lump settlement.
She was able to settle the HELOC for a one time payment of $5000.00, negotiating off $35,000 worth of debt.

Diana - Wisconsin
Diana was in an adjustable rate mortgage at 6.45%, she was current on her payments and able to afford the current payment. Her fear was that an upcoming adjustment would make the payment harder to accommodate.
She was able to convert her adjustable rate into a fixed rate for the life of the loan even though she was current on her payments.

Irma - Colorado
Irma was in a forbearance agreement where she was paying back 8 months of payments in arrears. Her interest rate was 7.5% adjustable rate with a monthly payment of $1898.00 she was unable to maintain the monthly mortgage payment.
She was able to forbear the arrearage along with modifying the interest rate to a 5.75% fixed for the life of the loan, yielding a monthly mortgage payment of $883.53 and cancelling out her previous forbearance agreement.

Michael – Cherry Hill, NJ
Michael was originally 6 months behind on his mortgage payment; his payment was $3802.06 per month with an interest rate of 9.875% on an adjustable rate mortgage which was nearing adjustment again!
He was able reduce his interest rate to 6.25% for the 1st year, 6.50% for the 2nd year, 6.75% for the third year, 7.25% for the 4th year, and 7.25% for the 5th year and the life of the loan. Reducing his monthly payment by over $700 per month along with ridding of any adjustments!

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