Servicer: Countrywide Home Loans
|James E.||Old Loan||Modified Loan|
|Loan Type||Adjustable 5 Year||Fixed For 5 years|
Includes Principle, Interest, Taxes and Insurance
Includes: Principle, Interest, Taxes and Insurance.
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,718.44 for our client and amounts to an estimated savings of over $577,000 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan. After the 5 years at 3.50%, the interest rate will adjust to the then-current market rate for a 30 year fixed loan. This new rate will be fixed for the life of the loan.
Click here to view the actual loan modification.