First Lender: GMAC
Principal Balance: $265,223.11
Monthly Payment: $1981.17
Interest Rate: 7.5%
After the modification:
Monthly Payment: $884.08
Interest Rate: 4%
Total Savings: $65,825.40
This Loan Modification took 4 months to complete.
The homeowner was unable to make the full payments of $1981.17. After we negotiated with the bank, we were able to get an interest only payment of $884.08 (before taxes and insurance). Our goal is to make your monthly obligation as low as possible. From there, you can pay down the principal if you are able to, but you are not required to.
If you would like to see more examples of what we have been able to do for our clients, or if you would like to explore doing a loan modification, please don’t hesitate to give us a call: (480) 389-5199
Keller Williams Arizona Realty