These results should not be taken as a guarantee, as each case is unique.
Previous mortgage payment of $2,346.86. Property was in foreclosure with a sale date of 07/23/09; borrower was 9 months behind.
Trial plan with 2 consecutive $2,346.86 payments. After 2nd payment modification is being referred to Obama's Making Home Affordable Plan.
9% ARM. Account was past due 23 months and $80,180.93. Active foreclosure.
Trial plan to modify. Three monthly payments of $2,080.37, monthly savings of $663.93.
2nd Mortgage: Monthly payment $818.68. Past due 6 months ($5,212.08), interest rate 10.85%. Balance of $90,987.19.
New payment $0.00. Loan settled for one payment of $7,000.00.
Six months past due.
Home Afforable plan begins with 2% interest for 5 years, then increases to 5.125%. Savings of $1,486.61.
Borrower was in foreclosure with a sale date. Payments were 9 months past due. PITI payment $1,237.82.
Approved for President Obama's plan. Sale date was canceled. Borrower completed a 3 month trial plan. New monthly payment is $865.48, saving $372.34 per month. Interest rate 2.125% for 4 years, then steps up 1.0% per year to 5.0% in the 7th year and for the remaining life of the loan, permanently 5.0% interest.
Monthly PITI payment $2,864.00. Twelve months past due and in foreclosure with a sale date. Borrower owed $35,000 plus attorney fees for foreclosure proceedings.
Approved for a 3-month trial plan with payments of $2,264.68, saving $599.32 per month.
Borrower was 11 payments past due, owing $8,275.73. Monthly payment of $661.26 with 9.87% adjustable interest rate (ARM).
Final modification payments $357.81, saving $303.49 per month. Total about past due $8,275.73 was forgiven.
Monthly payments of $2,744.30, with 9% adjustable interest rate. 23 months past due, owing $80,180.93 and in foreclosure.
Three month plan with payments of $2,080.37, saving $663.93 per month.
Final modification with 2% interest for 5 years and monthly payments of $2,080.37, 6th year the interest increases to 3%, 7th year 4%, and for the 8th year and the remaining life of the loan, 5% fixed interest rate.
Monthly payments of $1,816.71 PITI with 6% adjustable ARM interest rate.
New payment $790.29 PITI, with interest rate fixed at 2% for 6 years. Interest rate will then increase 1% per year to 4.80% fixed for the remaining life of the loan.
Borrower making principal and interest only payments and was past due $6,963.85. Monthly PITI payment was $4,160.41.
Approved for three month trial plan toward a traditional modification with monthly PITI payments of $2,140.29. Borrower is saving $2,020.12 per month.
Original monthly PITI payment was $1,466.08 with 8.5% interest rate. Borrower was 21 months behind, owing $47,787.04 and in foreclosure.
Making Home Affordable trial plan with monthly payments of $801.35, saving $665.00 per month.
Great final modification! Interest rate fixed for 5 years at 2.00% and steps up to 5.00% fixed for the remaining life of the loan. Final monthly payment will be $1,070.07 with a total savings over the life of the loan of $249,652.92
Monthly PITI payments were $1,521.50. Borrower was past due $18,283.25 and in active foreclosure.
Making Home Affordable trial plan with monthly payments of $897.47, saving $624.03 per month.