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Home Loan Modification Program

Principal Reduction Can Happen

Posted By: Nick under Success Stories | February 6th, 2009

While it’s true that principal reduction is not an easy-to-achieve outcome in a loan modification, it does happen with the help if a skilled negotiator.

Our loss mitigation department recently won a case that dropped a client’s principal balance by $50,924.71. The interest rate dropped from 8.35% to 3% on a 274 month term. The monthly payment dropped by $434.48.

The lender in this case was Chase and it was a second mortgage.

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*AMLG mitigates files with No Advance Fees in the following states:
Alaska, Arkansas, California, Connecticut, Georgia, Hawaii, Iowa, Kentucky, Louisiana, Maine, Michigan, Mississippi, Missouri, Montana, New Hampshire, New York, North Dakota, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Washington D.C., Wisconsin, Wyoming.

AMLG does not conduct any loan modification services in the following states:
Alabama, Arizona, Colorado, Delaware, Florida, Idaho, Illinois, Indiana, Kansas, Maryland, Massachusetts, Minnesota, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington, West Virginia

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