Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
This homeowner retained our firm in November 2012. Although he had some trouble getting the required documents together for the loan modification, our staff was able to obtain a trial loan modification for him within 4 months.
The homeowner completed the 3-month trial payment successfully, and received a Department of Justice permanent loan modification. His mortgage payment was lowered to a much more affordable monthly payment of $1,960.18 (a monthly savings of $1,415.76). His principal balance was reduced by $102,715.99!
This loan modification is not just significant because the monthly mortgage payment was nearly halved and the principal was reduced by over $100,000; it is also significant because it only took four months to obtain a modification. Bank of America's Home Loan department is infamous for drawing out loan modification cases. Many homeowners have lost their homes to foreclosure while waiting on a loan modification from Bank of America. This shows why it's important to hire a knowledgeable foreclosure defense attorney to help you obtain great loan modification results.
Bank of America Loan Modification Overview | |||
|---|---|---|---|
| July 2013 | Before | After | |
| Monthly Payment | $3,375.94 | $1,960.18 | |
| Interest Rate | 6.50% | 7.25% | |
| Foreclosure | No, but 16 months past due. | Threat of foreclosure averted. | |
| Benefits to Homeowner | $102,715.94 Principal Balance Reduction Monthly payment reduced by 42%, saving $1,415.76 per month |
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At Amerihope Alliance Legal services, our goal is to provide legal counsel that will help homeowners avoid foreclosure or have their best chance at a more secure financial future. We have helped over 5,000 distressed homeowners save their homes since 2008, and we are looking forward to assisting even more people in the future.