De Novo Law firm has worked with many banks to acquire loan modifications for homeowners in Riverside, Rancho Cucamonga, Corona, Norco, Eastvale, and all of Southern California. We recently obtained a loan modification were the overall principal balance was reduced more than $100,000. De Novo Law Firm was successful in obtaining the loan modification with Chase bank.
Client F.G. in Corona, California
Original Loan Terms:
Principal Balance: $532,238
Monthly Payment: $3,167.79
Interest rate: 6.025%
Loan Modification Terms:
New Principal Balance: $393,975.57
Loan Forgiveness: $138,263
New Payment: $2,509.29
New Interest Rate: 3.375%
Through the loan modification our office was able to save our client over $650 monthly on their mortgage payments. Also, the interest rate was lowered by almost three percent. Further, the principal balance was lowered by $138,263 saving the client a considerable amount of money.
If you or anyone you know is struggling to make their mortgage payments contact our office today so we can discuss what options you may have, call us at (951) 801-5570.