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.