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.

 

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