Nationstar is a leading non-bank residential mortgage servicer in the U.S. De Novo Law Firm has successfully modified numerous Southern California home loans in areas such as Corona, Norco, Temecula, Hemet & Moreno Valley. We recently obtained a Nationstar loan modification including a substantial principal reduction. The loan also changed from an interest-only loan to principal, interest, taxes and insurance.
Client: S. W. in Riverside CA
ORIGINAL LOAN DETAILS
Original Loan Terms: 30 yrs
Principal Balance: $356,601.37
Monthly Payment: $2288.00
Interest Rate: 4.75%
NEW LOAN MODIFICATION DETAILS
Loan Modification Terms: 21.5 yrs
New Principal Balance: $183,999.37
Loan Forgiveness: $172,602.00
New Payment: $1,583.30
New Interest Rate: 3.625%
This loan modification obtained by De Novo Law Firm was able to reduce the homeowners’ monthly payment by $700.00 making a very significant change in the their monthly payments. The principal balance was reduced by $172K saving the client a considerable amount of money.