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Another Example Of Just How Lousy A Bergen County Loan Modification Is For You
Bergen County NJ – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home?
People have a hard time grasping how difficult it is to get a loan modification that is fair. These banks just do everything they can to squeeze homeowners for as much money as possible.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is an example of a homeowner that accepted a forbearance agreement with their lender. The homeowner was desperate to keep his home and just accepted the first offer his lender made.
Today, he is paying $4,400 monthly. The sad thing is that it would cost her about $2,500 a month to rent a comparable home.
He could save $1,900 monthly if he moved out and rented a similar home. But, even worse is how much money this will cost him over the long term.
I project that it will take 19 years for his house to appreciate back to what he originally paid for the house. He will overpay his lender by $433,200 over the next 19 years while him and his family wait for the housing ... more

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