IndyMac – Case Result #006

Before Evaluation

Client came to our office 3 months behind on their mortgage. They had a monthly payment of $1,539 at 6%.

Case Result

Client received a modification with a new monthly payment of $1,168.17, which saved them $370 a month. The new interest payment is stepped starting at 2.75% for years 1-5, 3.75% at year 6, and caps at 4.625% for years 7-27.