Bank of America – Case Result #016

Before Evaluation

Client was 5 months and $10,000 behind on their mortgage. Their monthly payment was $1,845 with a really high interest rate of 7.5%.

Case Result

Client received a in-house loan modification with a new payment of $1,775 and a stepped interest rate of 2.6115 for years 1-5, 3.611% for year 6, capping at 3.625% for the remainder of the loan.