Carrington mortgage services - Modification Success Stories

Carrington Mortgage Property Owner was 22 month past due.
Original monthly Principal, interest, taxes, and insurance payment was $1,313.00, with 8.75% interest.

First the owner was approved for Trial Loan Modification.
After three month trial loan modification plan with monthly payments of $939.00 and a monthly savings of $376.60 the borrower completed trial loan modification.

Finally they received Permanent Loan Modification.
The new monthly Principal, Interest, Taxes and Insurance payment was $995.31 with fixed 4.875% interested and monthly savings of $317.69.


PNC - Modification Success Stories

After trying to work with the lender for months, the owner was 14 months past due with PNC Mortgage and foreclosure proceedings had been started.

Original monthly Principal, Interest, Taxes and Insurance payments were $1,706.42 with a fixed 7.375% interest rate.

After working with the network partners, they were given a Traditional Loan Modification.

The new monthly payments were reduced to $1,372.11, a monthly savings of $317.69 and the interest rate was lowered to 4.75% for the life of the loan, and foreclosure was dismissed.


Wells Fargo - Modification Success Stories

Wells Fargo informed the owner that they were $65,444 past due on mortgage at 8.25% interest rate.

They were thrilled with their Final Loan Modification after working within the network.

With a new interest rate of 3.5% with a monthly savings of $512.55
and our network partner defense attorney was able to get their foreclosure case dismissed.


Chase - Modification Success Stories

Owner was $65,635.71 past due on mortgage with Chase Mortgage $970.91 monthly payment and a high 8.25% interest rate.

Finally after the network processors helped with getting Chase Mortgage the correct documents, they received a Permanent Loan Modification.

The new monthly payments were reduced to $783.70, a monthly savings of $187.25.
With a permanent low interest rate of 3.5% and a very happy owners!


Bayview - Modification Success Stories

Owner was 42 months behind and $90,000 past due on their FHA mortgage.

Through the network of partners, a permanent Modification was negotiated with Bayview Servicing.

With a payment reduction of $776.46/month!
Taking their new payment to $1,443.57, from a whopping $2,220.


Flagstar - Modification Success Stories

Owner was 26 months past due on two mortgages with Flagstar and in foreclosure.

Through Negotiations and with the assistance of our Network Foreclosure Defense Attorney.

The First Mortgage was brought current by extending the term of the loan to 40 years, helping them to keep their home and to begin again with Flagstar.

The Second Mortgage was also settled giving the owner actual equity, with $73,000 owed and payments that were over 2 years past due.  After negotiations the second mortgage settled for just $2,000.


Bank of America - Modification Success Stories

The Owner was behind about $6,000.00 with Bank of America and had two prior modifications.

Their original monthly payments were $1,654.25, and the interest rate 7.95%.

They worked hard to make sure they worked with the Distressed Property Solutions Team and that all of their Trial HAMP II Loan Modification payments were on time. 

After three month trial loan modification with Bank of America with monthly payments of $921.86 and a monthly savings of $732.39 the borrower completed trial loan modification.

With all trial payments on time, they were granted a Final HAMP II Loan Modification.

Their new interest rate is 3.125% and they have only 18 years remaining on the loan. $15,000.00 of the principal balance will be forgiven in 5 years if all payments are made on time.


OCWEN - Modification Success Stories

This Ocwen loan was past due $31,664.38 and foreclosure proceedings had been started. Original monthly mortgage payments of $2,123.73 and a 5.04% interest rate.
Homeowners also had an escrow shortage of $6.552.52.

After making sure the paperwork showed qualifying income and expenses a Making Home Affordable trial plan started.

The new monthly payments were reduced to $1,337.72, a monthly savings of $786.11. The trial payments were made permanent by Ocwen and the homeowners received a new low interest rate of 2% for 5 years, which will increase 1% every year until it fixes at 4.875% for the life of the loan.

Homeowners will also have $35,101.51 of their principal balance forgiven every year they successfully make their mortgage payments for 3 years, for a total principal reduction of $105,303!


Ditech - Modification Success Stories

Owner was 15 months and $34,000 past due to Ditech.

Not knowing what to do, after a lot of hard work with the networks document processing department, they were finally given a HAMP Loan Modification.

Monthly savings were $701.32 and they were able to keep the exact same payments as the trial for the next 30 years.


Rushmore Loan Services - Modification Success Stories

Owner was in foreclosure after falling three years behind on his mortgage with Rushmore Mortgage.

Distressed Property Solutions Networks partners worked together and were able to have a loan modification approved and at a $591 lower monthly payment!

One of the networks foreclosure defense attorney’s was able to defend the foreclosure case, use the mortgage investors own mistakes to help with the approval process The owner is now in a permanent modification and the foreclosure case has been dismissed. Everyone at Distressed Property Solutions that helped in the process is happy they are back on their feet financially.


Citi - Modification Success Stories

Owner was 6 years behind and in active foreclosure with CITI. Principal balance was $501,225.40. Original mortgage payment was $4,036.80 with a 8.48% interest rate.

A Permanent Modification was negotiated with CITI.

One of the networks foreclosure defense attorneys jumped into the case and handled the court proceedings,   That bought the processing department time to  negotiate a Trial Loan Modification with payments of $2.357.48 for a savings of $1,679.32.

The Final Loan Modification Shared Appreciation Modification (SAM Permanent Loan Modification) with monthly payments of $1,120.35 and a principal reduction of $357,336.88!

A Great loan modification after SIX years of not paying a mortgage. We are so happy that they were able to keep their home — and afford it!


Seterus - Modification Success Stories

Owner was past due $62,976.89 and in foreclosure and fighting Seterus every step of the way.

Through Negotiations and with the processors of our Network Foreclosure Defense Attorney.

After 22 months of defense by one of the networks foreclosure defense attorneys the property was saved from foreclosure. A permanent modification with Seterus payments of $1,805.92 per month giving the owner a monthly savings of $867.22.


Ditech - Modification Success Stories

A foreclosure judicial sale date was scheduled by Greentree for this property and the owners were behind $18,612. Original monthly payment was $2,093.76 with a 6% fixed interest rate.

Property Saved from SALE!
A Trial Modification, then a permanent modification with Greentree.
 

After three month trial loan modification plan, The homeowners received a permanent loan modification with a new payment of $1,697.17.

Totaling– $396.59 monthly savings and a 3.00% fixed interest rate.
The foreclosure sale date was immediately cancelled.


Chase - Modification Success Stories

Homeowners were past due $32,948.94 to Chase with a monthly payments of $2,228
With an interest rate of 5%.

Chase owner received a monthly savings of $807.95 and could finally get back on their feet.

After over a year in court with one of the networks foreclosure defense attorneys defending the case, A Trial Loan Modification under HAMP with a new monthly mortgage payment of $1,420.05, saving them $807.95 per month of finalized.

After successfully completing the trial loan modification payments, a Permanent Loan Modification with a monthly mortgage payment of $1,420.05 and a 2% interest rate for the first 5 years that will be fixed at 4.625% after the 7th year for the life of the loan.


Bank of America - Modification Success Stories

Homeowner came to the network 3 ½ years behind on their Bank of America mortgage payments.

The original monthly payment was $1,811.75 with a 6.50% adjustable interest rate.
Their case was in active foreclosure with a scheduled foreclosure sale date and the borrowers had previously been denied a modification even after completing a trial plan.

Bank of America actually finalized a principal forgiveness of $153,224.91.

The foreclosure case was put on hold and negotiated with BOA attorneys to stop a scheduled foreclosure sale date. First they received  a Making Home Affordable Trial Loan Modification with payments of $1,187.54 for three months.

Then the Final Loan Modification, Principle Reduction and Case Dismissed.

The new total mortgage payment of $1,187.54, saved the owner $624.21 per month.
The interest rate was 2.00% and will increase to 3.875% fixed after 7 years.
Over three years, the principal will be forgiven for a total of a $153,224.91 principal reduction.

Additional Benefit Each month for 5 years, the borrower will earn a benefit of $83.33 ($999.96 per year) which will be applied to the principal balance of the mortgage annually.


Mr Cooper - Modification Success Stories

Owner was 30 months behind on their mortgage and had been served with foreclosure documents.

Mr. Cooper (formerly Nationstar) finally approved after three attempts by owner on their own a permanent modification with several partners in Distressed Property Solutions network working to help.

The new interest rate is 5% lower with a monthly savings of $390.87 and one of the Distressed Property Solutions network partner defense attorney’s was able to get their foreclosure case dismissed.


Citi - Modification Success Stories

CITI Mortgage payments were 30 payments past due.

What was accomplished.

The Citi owner now has a permanent loan modification with $590.01 lower monthly payment and an interest rate that was lowered from 6.875% to 3.750%!


PHH Mortgage - Modification Success Stories

PHH allowed the owner to become 33 months past due and $95,089 behind in mortgage payment with PHH mortgage.

Eighteen Months after meeting with a Distressed Property Solutions advocate they were protected in court, no sale date was ever assigned and they now have a permanent modification with PHH.

After one of the network partner foreclosure defense attorney’s defended them in court for 18 months, not only did they have time to clear up almost all of the debt other than the mortgage, but they walked away with monthly savings of $289.07 on their mortgage. 


Fifth Third - Modification Success Stories

Owner was 61 months and $99,939 past due on mortgage with Fifth Third Bank.

Fifth Third fought a good fight, but in the end the owner received a permanent modification, principal forgiveness of $59,007 and a payment $171.99 less than their original payments.