Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week with SLS & Ocwen:
18 months and $24,516 past due on mortgage with SLS, our client has a HAMP II loan modification with $508 cheaper monthly payment and an interest rate that dropped from 7% to 3%!
(Read more: Life After HAMP Part II: In-House Modifications are Still a Great Option)
Our client was in foreclosure, 22 months and $35,417 past due on mortgage payments to Ocwen, but now has a 2 month in-house trial loan modification plan!
Two month trial plans may be more common now that HAMP has ended and lenders or servicers are crafting traditional loan modifications.
(Read more: 3 Common Ocwen Loan Modification Problems)