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James E.

Servicer: Countrywide Home Loans

James E.Old LoanModified Loan
Interest Rate7.50%3.50%
Loan TypeAdjustable 5 YearFixed For 5 years
Monthly Payment$4,708.18
Includes Principle, Interest, Taxes and Insurance
$2,989.74
Includes: Principle, Interest, Taxes and Insurance.

TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,718.44 for our client and amounts to an estimated savings of over $577,000 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan. After the 5 years at 3.50%, the interest rate will adjust to the then-current market rate for a 30 year fixed loan. This new rate will be fixed for the life of the loan.

Click here to view the actual loan modification.