1 / 25

Approved Loan Mods

Keeping thing simple Approved Loan Mods Load Modi {Ms.Evelyn Campbell} Multiple Investment Properties Negative Rental Income {Loss} Nature of Hardship 1. Shutting down of business 2. Difficulties in renting Properties Lender AHMSI & Citimortgage 01 AHMSI {Investment Property}

salena
Download Presentation

Approved Loan Mods

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Keeping thing simple Approved Loan Mods

  2. Load Modi {Ms.Evelyn Campbell} • Multiple Investment Properties • Negative Rental Income {Loss} Nature of Hardship 1. Shutting down of business 2. Difficulties in renting Properties • Lender AHMSI & Citimortgage 01

  3. AHMSI {Investment Property} • 378 Myrtle Avenue • TAT :- 40 Days • Efforts :- Package Sent, 3 calls & without Negotiations deal is approved & Package sent to the Borrower. • Case Strength :- • 1. Borrower Past Due for 3 payments {90 days} • 2. Declining House Price by 20% • 18 Arverne Terrace • TAT :- 30 Days • Efforts :- Package Sent, 3 calls & without Negotiations deal is approved & Package sent to the Borrower. • Case Strength :- • 1. Borrower Past Due for 3 payments {90 days} • 2. Decline in House Price by 20% 02

  4. Citimortgage {Investment Property} • 59 Girard Avenue • TAT :- 25 Days • Efforts :- Package Sent, 5 calls & Updated Financials over the phone, deal is approved & Package sent • to the • Borrower. • Case Strength :- • 1. Borrower Past Due for 3 payments {90 days} • 2. Decline in House Price by 25% ……………………………………………………………….............................................................. The deal that we got !!!! • Step up Program with AHMSI on both the properties with the Rates capping at 6.25 % for Life of the • Loan rate starting from 2% • Citi has put her on Trial Payment PITI of $ 1,850.00 & has promised that the payments will be in that • range,earlier payment was $ 2,722.00 03

  5. 04

  6. Loan MOd 2 Dawn Franco • Nature of Hardship • Separation • Loss of Job • Drawing Unemployment • DTI 200% ……………………………………………………………….............................................................. Wachovia {Paimary Residence} • 8 Pine Ave • TAT :- 15 Days • Efforts :- Package Sent, 2 calls updated the Financials over the phone, send the most updated income • proof. • Case Strength :- • 1. Borrower Past Due for 5 payments {150 days} • 2. Decline in House Price by 20% • 3. ARM Loan 05

  7. Old Terms:- • Principal Amount $324,394.00 • PI Payments $2,087.24 • Rate of Interest 7% The Deal THAT WE GOT!!!! 06

  8. 07

  9. Load Mod 3 {Adriana Marmalejo} Nature of Hardship 1. Single Mother 2. Reduced Income 3. DTI 150% ……………………………………………………………….............................................................. Chase {Primary Residence} • 157 Jackson St • TAT :- 60 Days • Efforts :- Package Sent, many calls to the lender, updated the Financials over the phone. • Case Strength :- • 1. Borrower Past Due for 5 payments {150 days} • 2. Decline in House Price by 25% 08

  10. Old Terms:- • Principal Amount $369,671.00 • PI Payments $3,270.96 • Rate of Interest 7% The deal that we got !!!! 09

  11. 10

  12. Loan Mod 4 Christan Jomoc • Nature of Hardship • Reduced Income • Loss of Job • DTI 55% ……………………………………………………………….............................................................. Indymac {Primary Residence} • 1363 ManzanaWay • TAT :- 10 Days • Efforts :- Package Sent, 1 call & the Mod was approved • Case Strength :- • 1. Borrower Past Due for 2 payments {60 days} • 2. Decline in House Price by 35% 11

  13. Old Terms:- • Principal Amount $343,898.00 • Payments $2,006.08 • Rate of Interest 7% interest only. 12

  14. 13

  15. Loan Mod 5 Margaret Belton • Nature of Hardship • Reduced Income • Loss of Job • DTI 70% • Spouse Passed Away ……………………………………………………………….............................................................. Nationstar {Primary Residence} • 685 Haxton Avenue. • TAT :- 35 Days • Efforts :- Package Sent, Many calls made & the Mod was approved • Case Strength :- • 1. Borrower Past Due for 4 payments {120 days} 14

  16. Old Terms:- Principal Amount $316.356.00 Payments $2,040.08 Rate of Interest 6.75% interest only. 15

  17. 16

  18. 17

  19. 18

  20. 19

  21. 20

  22. 21

  23. 22

  24. Contact Us Rhombus Technologies Inc. 82-36, 259th St., Floral Park, New York, 11004 Contact Person: Rekha Singh (Rebecca) Tel: 1-877-869-7950 Fax: 1-800-309-6316 Email: rebecca@rhombustech.net Url: www.rhombustechnologies.com 24

  25. Rhombus Technologies Pvt.Ltd. 601,Dhanthak Plaza,Makwana Road,Marol .Andheri(East),Mumbai 59 | T: +91 22 2850 1416 | F:+91 22 6692 6600 82_36 259 St Floral Park NY 11004 | T:866-833-6840 | F: 800-579-4118z Keeping thing simple

More Related