Up to date list of Success Stories

Indy Mac - Investor Loan Modification
Core Account

Old Payment $3,191/mo
New Payment $1,958/mo
Total Savings $1,232/mo

Robert had spent five months trying to modify his loan with Indy Mac. He was stuck with a mortgage payment over $3,000/mo and he could no longer afford that. Indy Mac had led him in circles and finally after having been denied for modification, he called us.

We had to start from scratch and begin the modification review process over again. It took about ninety days before we were able to establish a trial plan, and the trial plan lasted four months. Upon completion of the trial period, Robert was offered a permanant modification, and the monthly savings is incredible.

Continue reading “Robert W” »

Chase Debt Settlement
Collector: Frederick J Hanna & Assoc

Settlement Percentage Negotiated: 27%

Balance at Time of Settlement: $14,971
Settlement Agreed Upon: $4,000 (27%)
Fees: $2,194 (20% of savings)
Total Savings (after fees) $8,777 (41% Total Settlement)

Considering debt settlement to address your unsecured debt? The savings can be substantial but the downsides always need to be carefully considered.

We have a strong opinion on the debt settlement industry and we closely follow recent debt settlement regulation

Ocwen – HAMP Modification
Home Affordable Modification Program

Old Payment $3,160/mo
New Payment $2,703/mo
Total Savings $456/mo

Getting a loan modification approved is not always easy, even for loan professionals. This loan was sold from Saxon to Ocwen at the worst possible time, about a week after Saxon approved the initial loan modification. When the loan transferred to Ocwen the modification agreement was lost and Ocwen had no record of the plan that Saxon had offered. We had to start over from scratch and have the loan reviewed for loan modification again, this time with Ocwen.

The news was not all bad though, Ocwen is typically a much easier lender to work with than Saxon. They have one of the fastest loan modification review processes of all major lenders. They were quick to offer a HAMP trial plan and upon completion of the trial, a permanent modification was offered. Be sure to check out all the final details of this loan modification below.
Continue reading “Janette P” »

Bank of America Debt Settlement
Collector: Frederick J. Hanna

Settlement Percentage Negotiated: 30.09%

Balance at Time of Settlement: $17,944.99
Settlement Agreed Upon: $5,400
Fees: $2,509
Total Savings (after fees) $10,035.99 (44.07% saved)

Bank of America continues to offer incredibly low debt settlement offers throughout the summer of 2010. Check out these recent Bank of America Settlements.

We offer performance based debt settlement programs. As of October 27,2010 a new FTC regulation requires that all debt settlement companies stop charging advance fees. We’re way ahead of the game and have made the change a while back.

We have a strong opinion of the debt settlement industry and we don’t believe that charging advance fees is cool!

Continue reading “David N” »

BOA  In-House Loan Modification

Old Payment $3739/mo
New Payment $1602/mo
Total Savings $2136/mo

This loan modification will last for five years. It will remain as an interest only loan and he will save $128,160 over the next 60 months. With the hardship only expected to last a couple years, this modification will provide the short term relief that is needed.

Bank of America also deferred more than $16k to the back of the loan, bringing the loan current.

Continue reading “Uy E” »

Chase - Traditional Loan Modification
Fannie Mae Loan

Old Payment $3,332/mo
New Payment $1,752/mo
Total Savings $1,579/mo

We didn’t work on this loan from the start, we only helped with the process during the final stages. Shirley was referred to us from her son, after we finished up with his Chase loan modification. This modification was almost done when we got involved and we helped to explain how to correctly review and submit the final bits of loan modification documents to Chase.   

Check out the Loan Mod Resource Center if you need any specific Chase loan mod documentation. This site is totally FREE and it has editable templates to create your own income and expense worksheet, profit & loss statement, secrets, shortcuts, and much more.

Continue reading “Shirley B” »

Bank of America Debt Settlement
Collector: Client Services

Settlement Percentage Negotiated: 30.73%

Balance at Time of Settlement: $4,718.76
Settlement Agreed Upon: $3,268.76
Fees: $653.75 (20% of savings)
Total Savings (after fees) $2,615.01 (44.58% saved)

Check out more Bank of America Settlements

We offer performance based debt settlement programs. We do this because we have no problem earning our fees before we charge them, and it’s the best way for our clients to save as much in reserves as possible to settle their debts as fast as possible.

We have a strong opinion of the debt settlement industry and we don’t believe that charging upfront fees is cool!

We have compiled our debt settlement statistics, be sure to check them out.

Wells Fargo - Investor Loan Modification
Freddie Mac

Old Payment $1,912/mo
New Payment $1,812/mo
Total Savings $100/mo

When we first spoke to Jesse he was just recently denied for the Home Affordable Modification (HAMP), after making trial payments as Wells Fargo had instructed. We called Wells Fargo with him right away and we were able to determine that the loan had failed the NPV test. This test is used by lenders to determine the effects of extending a HAMP loan modification on the lender’s bottom line. The NPV test has been the nemesis of many homeowners trying to modify their loan with Wells Fargo.
Continue reading “Jesse J” »

Bank of America Debt Settlement
Collector: Budzik & Dynia, Inc.

Settlement Percentage Negotiated: 26.47%

Balance at Time of Settlement: $7,932.23
Settlement Agreed Upon: $2,100 (26.47%)
Fees: $1,400 (20% of savings)
Total Savings (after fees) $4,432.23 (44.12% saved)

Check out these recent Bank of America Settlements
Continue reading “Cecile P” »

Chase - Forbearance to Modification
Fannie Mae

Old Payment $2,468/mo
New Payment $2,490.41/mo
Total Savings $22.41/mo

Not every Fannie Mae loan will be eligible for the HAMP program. They will always be reviewed for HAMP initially but if the borrowers financial standing does not qualify, they will not be offered a HAMP loan modification. This is why it is very important to correctly calculate all income sources and monthly obligations.

This loan modification did not lower the monthly payments very much, but they rolled more than $26k to the back end of the loan and still kept his mortgage payments within reason. The interest rate will remain at a reasonable 6.5%.

Continue reading “James B” »