Modification: Interest rate reduced from 8.75% to 3.00%.  Monthly payment was reduced by $890.19/mo.  The delinquency was capitalized.  (Added to the back of the loan.) One of the homeowners had suffered a back injury at work and had not been able to work for many months.  Eventually they exhausted their savings and fell behind on the mortgage.  They were 7 months behind when the modification was obtained.

American Home Mortgage 1st

Modification: Interest rate reduced from 9.25% P&I to 5.00% I/O for five years.  Monthly payment was reduced by $2,270.28/mo. The interest rate had adjusted from 7.75% I/O to 9.25% P&I and the payment had jumped over $1,000.00/mo.  The co-borrowers employer had cut back her hours and they had fallen behind on their payments.   

America’s Servicing Company 1st

Modification: Interest rate reduced from 10.625% adjustable to 7.25% fixed rate for life of loan.  Payments were reduced over $400.00/mo. The interest rate had adjusted from 8.05% to 10.625% and the homeowner had fallen behind 3 months on payments. The delinquency was capitalized and junk fees were eliminated.

America’s Servicing Company 1st

Modification: Interest rate reduced from 10.59% adjustable to 7.00% fixed rate for life of loan.  Rate had adjusted from 6.50% to 10.59% and the homeowner had fallen over 6 months behind on payments when we accepted his case.  The delinquency was capitalized and junk fees were eliminated.

America’s Servicing Company 2nd Forbearance: Delinquency was spread across 11 payments instead of a 4 payment plan that the homeowner had negotiated on his own.  This reduced his monthly payment by $210.46/mo on a $56,524.00 2nd mortgage. This plan was achieved in conjunction with a modification of the 1st mortgage.

Aurora Loan Services 1st

Forbearance:

Aurora Loan Services 1st

Forbearance:

Carrington Mortgage Services 1st Modification: Interest rate reduced from 8.50% adjustable to 5.50% fixed rate for life of loan.  Monthly payments were reduced by $535.05/mo.The rate had adjusted from 5.95% to 8.50% and the homeowner had fallen behind 1 payment. He was struggling to get by as his monthly income had dropped while his monthly mortgage payment increased.

Carrington Mortgage Services 2nd

Modification: Interest rate reduced from 9.30% fixed rate to 3.00% fixed rate for life of loan. Monthly payment was reduced by 46% from $662.70/mo to $357.73/mo. A savings of over $100,000.00 over the life of the loan.

Chase Home Finance 1st

Modification: Interest rate reduced from 11.149% fixed to 4.25% for 5 years and then adjusts to 6.25% fixed rate for life of loan.  (Modified loan balance of  $109,519.23.) Monthly payments were reduced by 45% from $986.73/mo to $544.85/mo for 5 years.  ($660.85/mo after 5 years for life of loan.)  Total savings to the homeowner of over $115,000.00!

Chase Home Finance 1st

Modification: Interest rate reduced from 8.75% adjustable to 6.125% fixed.  (6.125% for 5 years & then 6.25% for the life of the loan.)  The monthly payment was reduced by $733.05/mo for the next 5 years & by $691.37/mo for the remaining 32 years.  The uncertainty of an adjustable rate was replaced with a fixed rate and the delinquency was capitalized.  These homeowners initially negotiated on their own behalf and were only able to secure a proposal of 7.625% fixed after months of struggling with Chase.  By hiring American Loan Modification Services to negotiate better terms they saved over $100,000.00 over the life of the loan.

Countrywide Home Loans 1st

Modification: Pay Option ARM (Negative Amortization Loan) was modified to a 5.25% fixed rate. (Rate fixed for the life of the loan.) The payments were converted to 5.25% I/O for 2 years and then 5.25% principal and interest for the remaining life of the loan.  This homeowner was current on payments but was really starting  to understand the poor position she had put herself in by accepting the terms of a negative amortization loan.  The background interest rate was adjusting monthly and was over 8% at the time of the modification.  Each month her loan balance was growing as she made the minimum monthly payment;  she couldn’t afford the interest only payment at a rate of over 8% !  Because we were able to negotiate her terms to an affordable fixed rate she averted the disaster of her loan balance reaching the re-cast amount.  If you have this type of loan & have questions about the “re-cast” value & how it affects you please email us at

Modification: Interest rate reduced from 10.875% ARM to 6.95% Fixed. (Fixed for life of loan.)  Monthly payment reduced by $619.00/mo and is now principal & interest instead of interest only.  The homeowners now have a secure fixed rate loan at a very affordable payment for the life of the loan.  

Countrywide Home Loans 1st

Modification: Interest rate reduced from 9.72% to 3.25% I/O for five years.  The monthly payment, including taxes & insurance was reduced from $3,699.07/mo (High rate and escrow shortage.)  to $1,410.19/mo. Monthly payment reduced by $2,288.88/mo! Delinquent interest and escrow shortage were capitalized. All junk fees eliminated.   

Countrywide Home Loans 1st

Modification: Interest rate reduced from 9.95% ARM to 6.95% Fixed Rate. (Fixed for life of loan.)  The homeowner’s payment was reduced by $560.95/mo and the threat of additional rate changes every 6 months was removed.  The delinquency was capitalized.  The homeowners had attempted unsuccessfully to negotiate on their own prior to obtaining our services.

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Modification: Pay Option ARM (Negative Amortization Loan) was modified to a 6.00% fixed rate for five years. The homeowners consistently made the minimum payment each month and their loan had reached the “re-cast” figure.  They were no longer allowed to make the minimum payment and were required to make an interest only payment at an interest rate of 8.85%; rate adjusting monthly.  They were also delinquent 4 months at the time of the modification.  Their new payment at 6.00% is fully amortizing and is $587.31/mo less! The delinquency was capitalized.

First Federal Bank of California 1st

First Franklin Loan Services 1st

First Franklin Loan Services 2nd

First Franklin Loan Services 1st

GMAC 1st

GMAC 2nd

GreenTree 1st

Homecomings Financial 1st

Homecomings Financial 1st

HomEq Servicing 1st

HomEq Servicing 1st

HomEq Servicing 1st

Indymac Bank 2nd

Litton Loan Servicing 1st

Litton Loan Servicing 1st

OCWEN 1st

OCWEN 1st

OCWEN 2nd

Popular Mortgage Servicing 1st

Resurgent Capital 2nd

Select Portfolio Servicing 1st

Wachovia/World Savings 1st

Wilshire Credit Corp. 1st