Bank of America – Case Result #004
Client was 2 years behind on payments and owed $34,848. Their monthly payment was $1,452 with a 6.13% interest rate.
Client received a new modification with a payment of $1,495 and interest rate at 4.25% for years 1-5 then capping at 4.75%. Their payment stayed the same, but the modification brought them back to current instead of having to pay the $34,848.