Sample Loan Modification

 

HERE IS A REAL LIFE EXAMPLE OF HOW A HOMEOWNER CAN SAVE TENS OF THOUSANDS OF DOLLARS

 

Before After
Mortage Balance $338,246 $338,246
Interest Rate 9.125% 6% IO
P&I Payment $2,752 $1,692
Months Behind 5 0
Averages $21,061 0
Total Monthly Savings $1,060
 

As you can see in the current sample, the homeowners will save $1,060 per month for the life of the loan. That equals savings of $12,720 over one year $63,600 over 5 years and $381,600 over a 30 year term. Also, the mortgage balance remains the same and the past due balance (arrearages) are forgiven.

jzaccardoSample Loan Modification