Wells Fargo is one of the largest banks in the nation, thus many homeowners have mortgage loans with them. The real estate attorneys at De Novo Law Firm have worked with many homeowners in Ontario, Pomona, Corona, Rialto, Hemet and all of Southern California whose mortgage loan were with Wells Fargo. We recently obtained a loan modification were we changed the payment from interest only to principal, interest, taxes and insurance with Wells Fargo Bank.

Client J.C. in Highland, CA

Original Loan Terms:

Principal Balance: $500,000

Monthly Payment: $3,000.00

Interest rate: 5.75%

Loan Modification Terms:

New Principal Balance: $415,826.70

New Payment: $2,396.32 (Principal & Interest payment)

New Interest Rate: 4.00%

This loan modification obtained by De Novo Law Firm was able to make a huge change in the homeowners monthly payments. Not only was the monthly payment amount reduced but it was also changed from interest only to principal and interest payment. The principal balance was also reduced by about $75,000 saving the client a considerable amount of money.

If you or anyone you know are having difficulty making the monthly payments please contact our office today so we can discuss your options, call us at (951)801-5570.

 

One Response to Riverside Loan Workout Attorneys – Wells Fargo Modification with Principal Reduction

  1. Benjamin Yrungaray says:

    Awesome article, great information.