
Free Initial Consultation
552 S. Washington Street
Ste 224
Naperville, Illinois 60540
Conveniently located
Downtown Naperville
Loan Modification
When dealing with an underwater mortgage where the loan amount significantly exceeds the value of the home, a loan modification becomes an attractive option. We are at the forefront of foreclosure litigation and have seen a dramatic shift in behavior and attitude of lenders concerning loan modifications. Our clients have received exceptional modifications with lower interest rates and monthly payments.
Favorable loan modifications include the following:
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Romeoville, Illinois
Coordinated with loan servicer to prevent filing of foreclosure action for twelve months and successfully secured a loan modification decreasing the monthly payment by 24% and reducing interest rate from 6% adjustable to 3.25% fixed.
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Aurora, Illinois
47% principal balance reduction from $111,148.14 to $58,800, resulting in monthly mortgage payments reduced by $837.99, from $1,312.27 to $438.28. Adjustable interest rate reduced from 8.5% to 2% fixed
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Naperville, Illinois
Residential mortgage from Ocwen Financial Corporation. Principal balance reduction in the amount of $102,960 from $339,960 to $237,000. Interest rate reduction from 10.125% to 3.53%.
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Homer Glen, Illinois
Worked closely with the loan servicer to prevent the filing of a foreclosure complaint for twenty months. Obtained a loan modification that forgave $231,108.39 of principal.
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Bloomingdale, Illinois
Monthly payment reduced from $4,307 interest only to $2,614.80 Principal and Interest. Interest rate reduced from 6.875% to 2% for the first five years.
There has never been a better time than now to seek a loan modification. Whether you are current with your payment, or behind and are facing foreclosure, we can help you through all the stages of a loan modification.
Success Stories
Batavia, Illinois August 2019
Client defaulted on rental property.
Extensive work with lender resulted
in significant loan modification. Payment reduced from $3,389 to $2,083.32.
Interest rate reduced from 4.625%
to 2.625%.