Current Case Studies

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CASE STUDIES

Below is just a sample of our Loan Modifications our attorneys have been able to achieve.

The average result obtained is between 2% and 6% with a 30 year fixed term. 

We encourage our representatives to work closely with their Homeowners throughout the entire Loan Modification process to allow us to capture the results. The attorney / client relationship is confidential, so the best way to build our parameters for expectations is to publish success stories for future clients to evaluate.

Lender / Servicer not disclosed not disclosed
Loan Balance $187,154.80 $149,723.84
Interest Rate 8.00% 5.75%
Loan Type NegAm Arm Fixed
Monthly Payment $1,769.77 $1,113.92
Summary: Client was $7,800.00 in arrears. They received a $37,430.96 principal reduction, back payments and fees were waived. The client saved $655.85 per month.
     
  Prior to Modification After Modification
Lender / Servicer not disclosed not disclosed
Loan Balance $576,714.88 $576,714.88
Interest Rate 7.75% 2.75% (yr 1-5) 5.0% remainder
Loan Type NegAm Arm 5 years, then fixed
Monthly Payment $4,075.00 $2,458.23
Summary: Client was current at the time of modification. Interest rate was reduced to 2.75% for 5 years and then fixed for the remaining 25 years at 5.0%. Monthly savings is $1,616.77.
     
  Prior to Modification After Modification
Lender / Servicer not disclosed not disclosed
Loan Balance $223,558.87 $184,500.00
Interest Rate 10.125% 4.82%
Loan Type ARM Fixed
Monthly Payment $1,830.79 $1,113.92
Summary: Client was scheduled for foreclosure. Foreclosure was stopped, principal was reduced by $39,058.87 and the client saved $1,005.31 per month.
     
  Prior to Modification After Modification
Lender / Servicer Ocwen Ocwen
Loan Balance $129,480.95 $129,480.95
Interest Rate 10.38% 0.75% not a typo!
Loan Type Fixed Fixed
Monthly Payment $1,152.84 $402.32
Includes  Principal & Interest Principal & Interest
Amount Delinquent N/A N/A
Term 360 months 360 months
Summary: Payment reduced by $750.00 per month and new rate fixed at 0.75% for the life of the loan.
 
  Prior to Modification After Modification
Lender / Servicer Wachovia Wachovia
Loan Balance $324,947.29 $292,434.73
Interest Rate 8.25% 2.5% (yr 1)
    3.125% (yr 2)
    3.75% (yr 3)
    4.375% (yr 4)
    5.0% (yr 5)
    then fixed 5.625%
 for remaining term
Loan Type NegAm Arm Step Fixed
Monthly Payment $1,501.61 $732.06
Includes  Min. + Taxes & Insurance Principal, Interest, Taxes
& Insurance
Amount Delinquent 4 months Current
Term 360 months 360 months
Summary: Savings of $769.55 per month vs. NegAm payment. $32,512.55 principal balance reduction. After 5th year, loan is fixed for the life of the loan. Cut payment in half and client keeps home.
     
  Prior to Modification After Modification
Lender / Servicer Litton Litton
Loan Balance $214,093.38 $223,558.87
Interest Rate 10.13% 4.82%
Loan Type Arm Fixed
Monthly Payment $1,830.79 $825.48
Includes  Principal & Interest Principal & Interest
Amount Delinquent $9,465.79 Current
Term 480 months 569 months
Summary: Avoided foreclosure. Extended term and savings of $1,005.31 per month. Fixed for the term of the loan.
     
  Prior to Modification After Modification
Lender / Servicer Saxon Saxon
Loan Balance $671,000.00 $671,000.00
Interest Rate 7.875% 6.00%
Loan Type 2/28 Arm Interest Only:
in adjustment period		 5 year fixed: Amortized
Monthly Payment $5,220.56 $4,171.40
Includes  Interest, Taxes & Insurance Principal, Interest, Taxes
& Insurance
Amount Delinquent $8,812.92 Current
Term 30 Year Balloon 27 year Full Amortized
Summary: Payment reduced by $1,049.00 per month vs. Interest Only Arm. New payment includes $800.00 + per month going to principal. Net savings of $1,800.00 + per month. Loan current and fixed for the next 5 years.