Bank of America – Case Result #009
Before Evaluation
Client came in current with a monthly mortgage payment of $2140 at 5.94% interest rate.
Case Result
Client received a HAMP loan modification with a new payment of $1,429 and a stepped rate starting at 2% for years 1-5, 3% for year 6, 4% for year 7, 5% at year 8, and capping at 5.125%. Client saved $710 a month.