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HomEq Loan Modification Case Results

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Lender: HomEq - [ID: #0001]

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Before

Payment was $525.40, interest rate 9.875%.

After

New payment $346.00, 5.00% fixed rate for 5 years.

Lender: HomEq - [ID: #0002]

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Before

Payment was $2,471.28, 9.5% interest rate.

After

New payment $1651.23, 5.875% interest rate.

Lender: HomEq - [ID: #0003]

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Before

Current payment was $2,225.41 PITI with 9.125% adjustable interest rate. Nine months past due with a sale date scheduled.

After

New payment is $2,074.67 PITI with 5 year fixed interest rate of 7.125%.

Lender: HomEq - [ID: #0004]

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Before

Borrowers were 35 months ($45,154) past due and foreclosure proceedings had been started. Original interest rate of 7.99% and a monthly payment of $1,088.51 PITI.

After

Borrowers received 4 month forbearance with a monthly payment of $758.54 PITI ($329.97 savings) and a down payment of $13,600. The remaining $38,000.00 will be moved to the back of the loan and a new interest rate of 2% will be given for 5 years, after which the rate will remain at 3.5% for the life of the loan.

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