Principal Reduction Can Happen

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.

Related posts:

1. More Success With Countrywide (Bank of America)
2. An Example of How a Loan Modification With IndyMac Can Help
3. Countrywide/Bank of America Provides Homeowner Significant Savings
4. Success with Indy Mac and American General
5. Successful Loan Modification with Citi Group