Not only is California ranked fourth in the nation for the highest foreclosure rate, but San Bernardino County has one of the highest rates in the state. RealtyTrac reported that 1 in every 95 homes in San Bernardino County received a foreclosure filing in December 2009. Fortunately for distressed homeowners, loan modifications are becoming more prevalent and regulated. HomeStart is accredited by the BBB and provides loan modification services to the many who qualify.
Now more than ever, lenders are willing to renegotiate the loan terms. Not only do lenders save more money by modifying a loan than foreclosing on a property, but President Obama’s new Homeowner and Stability Plan (HASP) further incentivizes lenders to offer loan modifications. These loan modifications entail permanent adjustments to the loan terms that can allow homeowners to maintain their mortgage payments and keep their homes. HomeStart will determine if you qualify for a loan modification and get the process started with no upfront fees.
Why choose HomeStart?
HomeStart has a success rate of nearly 90% of submitted loan modification applications. HomeStart has been able to achieve this by taking the time to work on loan modification applications that most other firms won’t bother with. With HomeStart you can expect a higher degree of professionalism and customer service, with the ultimate goal of keeping you in your home!
Here is an example of a recent loan modification performed by HomeStart:
Property in California
Total monthly savings of $1,132.38/month
- Primary Residence:
Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of $2,445.30.
- Modified to:
Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.
For more information please visit www.YourHomestart.com