Our office recently obtained a loan modification with GMAC bank. Although GMAC has since filed bankruptcy, we were able to save our client a significant amount monthly while keeping him in the home. GMAC filed bankruptcy and has now sold its loan servicing division to Green Tree financial and OCWEN. De Novo Law Firm has successfully obtained loan modification with GMAC, OCWBN, and Green Tree. For more information about the modification, continue reading below.
Client T.B. in Twentynine Palms, CA
Before Modification:
Mortgage Payment: $964 (Principal, Interest, Taxes, and Insurance Payment)
After Modification:
Mortgage Payment: $737
Interest Rate: 2.25%
Monthly Savings: $227
Percent Savings: 24%
Through a loan modification, De Novo Law Firm was able to save the client’s home and reduce their monthly payment by 24%. Because the client was on a small monthly budget, the savings of $227 a month represents a huge savings for the client. For more information about a modification or your options, contact a loan modification attorney today at (951) 801-5570.