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 Bayview and a repayment plan with SPS:
Our Bayview Loan Servicing client was $12,123.66 past due on their mortgage, but now has a trial loan mod with $56.85 cheaper payment! The first of three payments is due June 1, and we anticipate a final loan modification to be in writing by September.
Our client was $22,614.15 past due on their mortgage with SPS, and rejected several loan modifcations over the past 4 years because they didn't like the offered payments. He has now accepted a 12 month partial repayment plan with a balloon that will be due when he sells his home. Due to increasing property values, he is more than satisfied with this option, and very happy to be keeping his home!