Our Loan Modification Results – Homes Saved
At HOWARD | NASSIRI, we have helped numerous California homeowners save their homes from the brink of foreclosure by securing them a mortgage payment they can afford through our loan modification program. We have proudly represented California homeowners since this crisis began; and as a result, many families have avoided foreclosure. Over the years, several companies and law firms have gone to great lengths to target distressed California homeowners to offer false promises of being able to modify their home loans. Most of these companies and law firms have gone out of business because of the changes in the law or because state or federal authorities have shut them down. At HOWARD | NASSIRI, we still remain as leaders in the industry. If you are serious about saving your home, contact us today. Click on the names below to see some of our results:
Arsyal P.
Servicer: Ocwen Loan Servicing
| Arsyal P. | Old Loan | Modified Loan |
| Interest Rate | 7.125% | 2.0% for 5 years, then 3% for year 6, then 4% for year 7, then 5% for year 8 and then fixed at 5.25% for the life of the loan. |
| Loan Type | Option ARM | Adjustable Fixed Rate Loan |
| Monthly Payment | $3,729.99 Includes Principle, Interest, Taxes and Insurance | $2,292.47 Includes: Principle, Interest, Taxes and Insurance. |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,437.52 for our client and amounts to a estimated savings of over $482,000 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan. After the 8 years at an Adjustable Step Rate Program, the interest rate will adjust to a 5.25% fixed rate the life of the loan.
Click here to view the actual loan modification.
Alfred S.
Servicer: Saxon Mortgage
| Alfred S. | Old Loan | Modified Loan |
| Interest Rate | 9.99% | 4.50% |
| Loan Type | Sub Prime 2/28 | Fixed |
| Monthly Payment | $3,839 Includes Principle, Interest, Taxes and Insurance | $1,982.22 Includes: Principle, Interest, Taxes and Insurance. |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,936.71 for our client and amounts to an estimated savings of over $482,000 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan. The 4.50% interest rate will be a fixed rate the life of the loan.
Click here to view the actual loan modification.
James E.
Servicer: Countrywide Home Loans
| James E. | Old Loan | Modified Loan |
| Interest Rate | 7.50% | 3.50% |
| Loan Type | Adjustable 5 Year | Fixed For 5 years |
| Monthly Payment | $4,708.18 Includes Principle, Interest, Taxes and Insurance | $2,989.74 Includes: Principle, Interest, Taxes and Insurance. |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,718.44 for our client and amounts to an estimated savings of over $577,000 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan. After the 5 years at 3.50%, the interest rate will adjust to the then-current market rate for a 30 year fixed loan. This new rate will be fixed for the life of the loan.
Click here to view the actual loan modification.
William L.
Servicer: Litton Loan Servicing
| William L. | Old Loan | New Loan |
| Interest Rate | 9.25% | 6.05% |
| Loan Type | Adjustable Rate | 30 Year Fixed |
| Monthly Payment | $2,101.28 | $1,231.62 |
| Principal Balance of Loan | $277,439.21 | $198,284.23 |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $869.46 per month and a principal reduction in the amount of $79,154.98. This results in an estimated savings of over $370,000 off the amount financed over the life of the loan. All delinquents payments were forgiven as well.
Click here to view the actual loan modification.
Leslie D.
Servicer: America's Servicing Company ("ASC")
| Leslie D. | Old Loan | New Loan |
| Interest Rate | 7.99% | 5.001% |
| Loan Type | 5 Year Adjustable Interest Only | 30 Year Fixed |
| Monthly Payment | $2,674.68 Includes Principle and Interest | $1,794.66 Includes: Principle, Interest and Taxes |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $880.02 for our client and amounts to an estimated savings of over $290,000 off the amount financed over the life of the loan. All delinquent payments and delinquent taxes were capitalized into the principle balance of the loan and the second mortgage was deferred until Leslie D. can financially afford the second mortgage payment or until she refinances or sales the property.
Click here to view the actual loan modification.
Israel and Jasmin D.
Servicer: Wachovia Mortgage
| Israel D | Old Loan | Modified Loan |
| Interest Rate | 6.85% | 5.459% for year 1 5.584% for year 2 5.709% for year 3 5.834% % for year 4 5.959% for year 5 6.084 % for year 6 6.50% fixed until 2049 |
| Loan Type | Interest Only | Adjustable Fixed Rate Loan |
| Monthly Payment | $1,850 Interest Only | $1,571.56 Interest Only |
| Principal Balance of Loan | $421,292.16 | $355,459.17 |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $278.44 for our client and a Principle Reduction of $65,833, which amounts to an estimated savings of over $149,223 off the amount financed over the life of the loan. All delinquent interest and late fees have been waived and reduced from the principle balance of the loan. After the 6 years at an Adjustable Step Rate Program, the interest rate will adjust to a 6.50% fixed rate the life of the loan
Craig and Sherri B.
Servicer: Bank of America dba BAC Home Loan Servicing
| Craig & Sheri B. | Old Loan | Modified Loan |
| Interest Rate | 6.50% | 3.00% for 2 years, then 3.50% for year 1, then 4.00% for year 1, then 5.00% until maturity 2036 |
| Loan Type | 30 Yr. Conv Jumbo Arm | Step Rate IO and impounds |
| Monthly Payment | $3,607.10 Includes Interest, Taxes and Insurance | $1975.89 Includes Interest Only, Taxes and Insurance |
TOTAL SAVINGS: This loan modification resulted in a Total Monthly Savings of $1,631.21 for our client and amounts to an estimated savings of over $508,937.52 off the amount financed over the life of the loan. All delinquent interest and late fees have been capitalized to the principle balance of the loan.