DIY Loan Modification Software :: Loan Modification Real-life Examples

Examples

Loan Modification Examples

The scenarios below are examples of actual loan modifications. However, these examples are in no way meant to predict future outcomes or guarantee results.

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	Results are not Guaranteed!
	We do not Estimate or Predict any Specific Outcomes!

Lowest Saved: $22,328.40
Average Saved: $234,447.11
Most Saved: $892,302.04

Example 1:

Lender:	Litton Loan Servicing
Monthly Savings:	$2093.09
How Much Will I Save in just 60 Months?	$125,585

Click Here to See the Actual Documentation

Example 2:

Lender:	IndyMac Bank
Monthly Savings:	$1833.47
How Much Will I Save in just 60 Months?	$110,008

Click Here to See the Actual Documentation

Example 3:

Lender:	Wells Fargo
Monthly Savings:	$1486.25
How Much Will I Save in just 60 Months?	$89,175

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Example 4:

Lender:	US Bank
Monthly Savings:	$1444.22
How Much Will I Save in just 60 Months?	$86,653

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Example 5:

Lender:	Wells Fargo
Monthly Savings:	$978.15
How Much Will I Save in just 60 Months?	$58,689

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Example 6:

Lender:	National City Mortgage
Monthly Savings:	$500
How Much Will I Save in just 60 Months?	$30,000

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Example 7:

Lender:	First Federal Bank
Monthly Savings:	$458.12
How Much Will I Save in just 60 Months?	$27,487

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Example 8:

Lender:	Countrywide Home Loans
Monthly Savings:	$385.20
How Much Will I Save in just 60 Months?	$4622

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Example 9:

Lender:	Ditech
Monthly Savings:	$230.39 (25% reduction in payment)
How Much Will I Save in just 60 Months?	$13,823

Click Here to See the Actual Documentation

Example 10:

Lender:	Chase
Before:	Rate - 11.250%, Payment - $884.33, 3 mos. Past Due
Loan Modification Agreement:	Rate - 2.250% for 5 years, Payment - $396.25, $482.19 for 1 year, and $573.81 for remainder of term.
After:	Rate - 2.250%, 4.250%, 5.500% P&I Payment
Monthly Savings:	$488.08 (year 1-5), $402.14 (year 6), $310.52 (year 7-21 of 30)
Total Savings:	$29,284.80 + $4,825.68 + $78,251.04 = $112,361.52

Click Here to See the Actual Documentation

Example 11:

Lender:	GMAC
Before:	NOD (Notice of Default) Filed and Trustee's Sale Date had been set.
Loan Modification Agreement:	Rate - 3.000% for remaining 28 years
After:	Rate - 3.000%, PITI payment - $1,530.97 -- Saved Home!
Monthly Savings:	$ Data not available
Total Savings:	$ Data not available

Click Here to See the Actual Documentation

Example 12:

Lender:	Aurora Servicing
Before:	Rate - 7.375%, P&I Payment - $3,851.07
Loan Modification Agreement:	Rate - 4.000% for remaining 339 mos.
After:	Rate - 4.000%, P&I payment - $2,585.03
Monthly Savings:	$1266.04
Total Savings:	$429,187.56

Click Here to See the Actual Documentation

Example 13:

Lender:	Indymac Bank
Before:	Rate - 6.500%, 30-yr Fixed w/ P&I Payment - $3,008.23
Loan Modification Agreement:	Rate - 5.750% for 27 years
After:	Rate - 5.750%, 30-yr Fixed w/ P&I Payment - $2,792.16
Monthly Savings:	$216.07
Total Savings (60 mos):	$70,006.68

Click Here to See the Actual Documentation

Example 14:

Lender:	American Home Mortgage Servicing
Before:	Rate - 7.375%, Adjustable, 2 mos Past Due, P&I Payment - $2,240.61
Loan Modification Agreement:	Rate - 5.000% yr 1, 5.250% yr 2, 5.500% yr 3, 5.750% yr 4, 6.000% for remainder of term.
After:	Rate - 5.000% - $750.54, 5.250% - $769.50, 5.500% - $788.13, 6.000% - $824.87
Monthly Savings:	$157.81 (year 1), $138.85 (year 2), $120.22 (year 3), $83.48 (year 4 - 27)
Total Savings:	$1,893.72 + 1,666.20 + $1,442.64 + $24,042.24 = $29,044.80

Click Here to See the Actual Documentation

Example 15:

Lender:	GMAC
Before:	Rate - 7.375%, Balance - $654,103.63, P&I Payment - $4,517.73
Loan Modification Agreement:	Rate - 3.500% for remainder of time, term extended to 40 years
After:	Rate - 3.500% for 461 mos w/ Payment of $2,809.56
Monthly Savings:	$1,935.58
Total Savings:	$892,302.94

Click Here to See the Actual Documentation

Example 16:

Lender:	Countrywide
Before:	Rate - 8.625%, P&I Payment - $3,695.83, 7 mos Past Due!
Loan Modification Agreement:	Rate - 4.250% for 5 years
After:	Rate - 4.250%, Interest Only payment - $2,515.83
Monthly Savings:	$1,180.00
Total Savings (60 mos):	$70,800.00

Click Here to See the Actual Documentation

Example 17:

Lender:	Countrywide
Before:	Rate - 5.125%, P&I Payment - $1,947.24, Current
Loan Modification Agreement:	Rate - 3.500% for remainder of time, term extended to 40 years
After:	Rate - 3.250%, P&I Payment - $1,381.62
Monthly Savings:	$565.62
Total Savings:	$183,260.88

Click Here to See the Actual Documentation

Example 18:

Lender:	Specialized Loan Servicing
Before:	Rate - 8.125%, P&I Payment - $537.96, 2 mos Past Due
Loan Modification Agreement:	Rate - 4.000% for remainder of term
After:	Rate - 4.000% w/ P&I Payment of $413.02
Monthly Savings:	$124.94
Total Savings:	$34,483.44

Click Here to See the Actual Documentation

Example 19:

Lender:	Countrywide
Before:	Rate - 8.125%, Interest Only Payment - $2,240.61
Loan Modification Agreement:	Rate - 3.250% for 5 years w/ $15,000 Principal Reduction
After:	Rate - 3.250%, Interest Only payment - $1,023.53
Monthly Savings:	$1217.08
Total Savings (60 mos):	$73,024.80

Click Here to See the Actual Documentation

Example 20:

Lender:	Wells Fargo Home Mortgage
Before:	Rate - 5.375%, P&I Payment - $1,243.14
Loan Modification Agreement:	Rate - 3.375% for 40 years
After:	Rate - 3.375% w/ P&I Payment of $818.35
Monthly Savings:	$424.79
Total Savings (60 mos):	$137,631.96

Click Here to See the Actual Documentation

Example 21:

Lender:	OCWEN
Rate Before:	6.125%
Payment Before:	$1542.82
Loan Mod Agreement:	3.950% for 5 years
Rate After:	3.950%
Payment After:	$1143.24
Monthly Savings:	$399.58
Total Savings:	$23,974.80

Click Here to See the Actual Documentation

Example 22:

Lender:	Litton
Rate Before (1st):	10.125%
Payment Before (1st):	$2497.73
Loan Mod Agreement (1st):	4.530% for 30 years
Rate After (1st):	4.530%
Payment After (1st):	$1405.68
Monthly Savings:	$1092.05 x 360 = $393,138
Rate Before (2nd):	12.700%
Payment Before (2nd):	$196.18
Loan Mod Agreement (2nd):	4.530% for 30 years
Rate After (2nd):	4.530%
Payment After (2nd):	$79.20
Monthly Savings:	$116.98 x 360 = $3509.40
Total Savings:	$396,647.40

Click Here to See the Loan Mod Worksheet 1st / 2nd

Example 23:

Lender:	OCWEN
Rate Before:	8.000%
Payment Before:	$1187.24
Loan Mod Agreement:	3.950% for 5 years
Rate After:	3.950%
Payment After:	$815.10
Monthly Savings:	$399.58
Total Savings:	$22,328.40

Click Here to See the Actual Documentation

Example 24:

Lender:	Litton
Rate Before:	9.890% Adjustable
Payment Before:	$3152.68 PITI
Loan Mod Agreement:	4.600% for 30 years
Rate After:	4.600%
Payment After:	$1969.97
Monthly Savings:	$1182.71
Total Savings:	$425,775.60

Click Here to See the Actual Documentation

Example 25:

Lender:	Litton
Rate Before:	6.680% Adjustable
Payment Before:	$4569.00 PI
Loan Mod Agreement:	4.580% for 30 years
Rate After:	4.580%
Payment After:	$3261.12
Monthly Savings:	$1307.88
Total Savings:	$470,836.80

Click Here to See the Loan Mod Worksheet

Example 26:

Lender:	Countrywide
Rate Before:	11.875% Fixed
Payment Before:	$2034.48
Loan Mod Agreement:	6.375% for 30 years
Rate After:	6.375%
Payment After:	$1079.81
Monthly Savings:	$954.67
Total Savings:	$343,681.20

Click Here to See the Loan Mod Worksheet

Example 27:

Lender:	Carrington Mortgage Services
Rate Before:	9.600% Adjustable
Payment Before:	$4275.31
Loan Mod Agreement:	6.500% for 30 years
Rate After:	6.500%
Payment After:	$3377.95
Monthly Savings:	$897.36
Total Savings:	$323,049.60

Click Here to See the Loan Mod Worksheet

Example 28:

Lender:	Central Mortgage
Rate Before:	8.380% Adjustable
Payment Before:	$3803.00
Loan Mod Agreement:	2.000% for 2 years ($925.83), 3.000% for 2 years ($1388.74), 4.000% for 2 years ($1851.66), and then Fixed at 5.250% ($3477.04) for the life of the loan.
Rate After:	2.000% - 5.250%
Payment After:	$925.83 - $3477.04
Monthly Savings:	$2877.17 - $325.96
Total Savings:	$69052.08 + 57,942.24 + 46,832.16 + 7823.04 = $181,649.52

Click Here to See the Loan Mod Worksheet

The scenarios below are examples of actual loan modifications. However, these examples are in no way meant to predict future outcomes or guarantee results.

	Results are not Guaranteed!
	We do not Estimate or Predict any Specific Outcomes!

Examples

Loan Modification Examples

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