LBPS Loan Modification Case Results

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LBPS - [ID: #0001]

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The borrower had a past due amount of $16,268.98 with an escrow shortage of $850.45 and was in active foreclosure. He had a fixed interest rate of 6.875% and his monthly mortgage payments were $2,050.43 (PITI).

Trial Loan Modification

The borrower received a three month trial loan modification with a temporary interest rate of 2.00% and a reduced monthly mortgage payment of $967.20 (PITI). Foreclosure was stopped.

Final Loan Modification

Borrower was granted a final loan modification with the new monthly mortgage payment of $967.20 (PITI)– a monthly savings of $1,083.23. His interest rate was reduced to 2.00% for the first 5 years and will be increased by 1.00% for three years thereafter, until it reaches 5.00%. At that time the interest rate will remain fixed for the life of the loan.

LBPS - [ID: #0002]

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This LBPS loan was 12 payments past due owing over $20,000.00 and the property was in foreclosure. Monthly mortgage payments were $1,386.62.


The loan was permanently modified, foreclosure is stopped, and the borrower has a fresh start with a new, affordable mortgage payment. New monthly mortgage payments are $1,003.16 PITI. The new interest rate is 2% for the first 5 years, 3% for the 6th year, 4% for the 7th year, 5% for the 8th year, and then a 5.125% fixed interest rate for the life of the loan.


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