Bank of America – Case Result #007

Before Evaluation

Client came in 4 months behind with a monthly mortgage payment of $2,799 at 5.75%.

Case Result

Client received a modification with a new payment of $2008 and a stepped interest rate starting at 3.125% for years 1-5, 4.125% for year 6, and capping out at 4.75%. They have a monthly savings of $790.