Loan Modification Sample Results - Successful Loan Modifications

SAMPLE LOAN MODIFICATION RESULTS

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Currently behind 3 months, 8.63% interest rate on 1^st  and 9.375%  on 2^nd  (Select Portfolio Servicing & Ocwen)

• 1^st Mortgage- Negotiated $86K principal reduction.  Rate reduction to 6.28%, extended term to 40 years. Savings of $855/month
• 2^nd Mortgage- Negotiated rate reduction to 3.95% for the next 5 years.  Savings of $416/month
• OVERALL monthly savings of $1,271

Balloon payment loan at an unaffordable rate of 8.55% (Wells Home Equity)

• Negotiated rate reduction to 2% and no longer has balloon payment. 
• Monthly savings of $78O

Client was 6 months behind.  NOD was already filed.  Rate was an unaffordable 7.7% (Litton Loan Servicing)

• Negotiated a principal reduction of $121K, interest rate reduction to 6.07% and term extension from 30 years to 48 years. 
• Monthly savings of $1,402

Client was 8 months behind.  NOD was already filed.  Unaffordable rate of I0% (American Home Mortgage)

• Negotiated rate to 5.625% with capitalized delinquent amount.
• Monthly savings of $1,181/month

Client was on an unaffordable rate of 8.875% and 6 months delinquent (Litton Loan For HSBC)

• Negotiated principal reduction of $51K, rate reduction to 5.14% fixed for 30 years.
• Monthly savings of $828

Client had a HELOC at a rate of 6% payment of $618.00/month (Indymac Bank)

• Negotiated rate to 0% for two years.
• Monthly savings of $413.00

Client had a rate of 6.875% delinquent 9 Months (Bayview Loan Servicing)

• Negotiated step program to 4% for two years, increasing 1% yearly with a cap of 7%.  Recapitalized delinquent amount.
• Monthly savings of $175.00, got a fresh start.

Client was delinquent 7 months with a rate of 7.542% (Litton Loan Servicing)

• Negotiated principal reduction of $113K, interest rate reduction to 5.18%, 30 year fixed.
• Monthly savings of $1327

Client was on a negative amortization loan with a rate of 7.I 25%, and was delinquent 8 months (Wachovia Mortgage)

• Negotiated step program 2% first year, 4% following year. Capitalized delinquent amount.
• Monthly savings of $751.55.

Client was 30 days from foreclosure, and in 6.55% interest payment loan (Indymac Bank)

• Negotiated postponement of sale date.  Step program 3% for 5 years, 1% yearly after first 5 years capping at 5.5%. Now paying principal and interest. 
• Monthly savings of $649.00.

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 Oscar Morante - Portland, Oregon - 971-222-3734

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