http://realtordonjohnson.com/donjohnson/loanmod.jsp What is a loan modification and how can it help you with your monthly mortgage payment. Call Don Today 636.489.1439
1. RealtorDonJohnson.com What is a Loan Modification? The “nickname” is “ Loan MOD ” (So if you hear that it means the same thing) (636) 489-1439
2. Loan Modification: Procedure where by a loan’s payment plan is changed due to a hardship of the borrower RealtorDonJohnson.com (636) 489-1439
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4. The Term is the length of time you make payments. (AKA amortization schedule) Typically that is 30 years RealtorDonJohnson.com (636) 489-1439
5. Interest is the Rate you pay on the borrowed amount. Loans are set up with either an Adjustable Rate or Fixed Rate And some are a combination of both.
6. The Principal is the amount you borrowed. In some cases this may be adjusted also. RealtorDonJohnson.com (636) 489-1439
7. How does a Loan Modification affect the parts? RealtorDonJohnson.com (636) 489-1439
8. Affects on Interest Rate Your rate will be lowered. And if you have an Adjustable rate it can be switched to a Fixed Rate (In some cases to as low as 3-4% fixed) RealtorDonJohnson.com (636) 489-1439
9. Affects on the Term The term will be adjusted to reduce the payments. This is accomplished by changing how long you make payments which can be changed to 40 years RealtorDonJohnson.com (636) 489-1439
10. Principal (amount you owe) Principal in some rare cases can be lowered. Sometimes if you have missed payments and have penalties, that amount will be added on to the end of your loan amount instead of paying it now. RealtorDonJohnson.com (636) 489-1439
11. By Making Changes to Each Area Your Payment can be Adjusted so that you CAN afford to stay in your home. These changes can add up to several hundreds of $dollars$ per month RealtorDonJohnson.com (636) 489-1439
12. RealtorDonJohnson.com (636) 489-1439 Don Johnson Can Help You! Don understands exactly what you are going through. He has been working with homeowners just like you for many years. He Knows that Good People have Been Caught Up In The Housing Mess Through NO Fault of Their Own. (636) 489-1439 RealtorDonJohnson.com
13. Don’s Guarantee… He Will Give You a Refund If We Can’t Get Your Loan Modified !!! RealtorDonJohnson.com (636) 489-1439
14. Let’s See If You Qualify Call Today To See if You Qualify to Reduce Your Payment by HUNDREDs of Dollars per Month RealtorDonJohnson.com (636) 489-1439
15. Call Today … Don, Can Determine with Just a Few Questions if You Qualify For This Exciting Loan Modification Program (636) 489-1439 [email_address] RealtorDonJohnson.com (636) 489-1439
