Aurora Bank HAMP Trial Loan Modification Obtained for Homeowner in Ramona, CA

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The Law Offices of Michael Gaddis obtained a HAMP trial loan modification for a homeowner located in Ramona, CA.  Aurora and Wells Fargo are the two most difficult lenders to work with on loan modifications.  While the personnel at Aurora are very friendly their interpretation of underwriting guidelines is extremely rigid.  The trial payment represents a nearly $500 reduction from the payment the homeowner was making prior to becoming late.  As always, Michael Gaddis and his staff will continue to monitor the trial period until a final loan modification is obtained.

To view a copy of this loan modification please click the following link:  http://californialoanmodificationattorney.com/wp-content/uploads/2012/03/Aurora-Modification-Ramona.pdf

Bank of America HAMP Trial Loan Modification Obtained for Homeowner in Fontana, CA

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Michael Gaddis received a HAMP trial modification for a homeowner in Fontana, CA.  This HAMP trial modification was a little bit of a surprise because this particular property had a little bit of equity.  Usually, equity counts against a homeowner’s chance of obtaining a loan modification because equity can contribute to NPV failure.  In this case, the trial was a pleasant surprise, even more so because the homeowner’s 10 year old son has some severe medical issues.  The trial payment is nearly $500 a month lower than what the homeowner’s old payment was.

Michael Gaddis and his staff will continue to monitor the trial period in order to ensure that a final HAMP loan modification is obtained.

To view a copy of the loan modification please click the following link:  http://californialoanmodificationattorney.com/wp-content/uploads/2012/03/B-of-A-Modification-Fontana.pdf

Bank of America Department of Justice (“DOJ”) Trial Loan Modification Received for Homeowner in Santa Ana, CA Proposed Principal Reduction of $315,205

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The Law Offices of Michael Gaddis received a Department of Justice (“DOJ”) trial loan modification for a homeowner in Santa Ana, CA today.  The trial payment is considerably lower than the homeowner’s old payment and promises a principal reduction of $315,205 upon successful completion of the trial period.  This file had to be resubmitted 4 times before this trial plan was offered.  The underwriting criteria was strict and the process laborious.  However, Michael Gaddis and his staff work very hard to ensure that all files are properly reviewed by lenders, no matter how long it takes.

Michael Gaddis and his staff will continue to monitor the file during the DOJ trial period in order to ensure that a final loan modification is obtained.

To view a copy of the final loan modification please click the following link:  http://californialoanmodificationattorney.com/wp-content/uploads/2012/03/B-of-A-Modification-Santa-Ana.pdf

 

Homeowner in Oceanside, CA receives a $91,854.44 Principal Reduction from Bank of America Loan Modification

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A homeowner working with The Law Offices of Michael Gaddis received an offer to reduce the principal on their loan balance by $91,854.44.  The principal reduction is contingent upon the homowner completing a three month trial.  The loan modification file was submitted by The Law Offices of Michael Gaddis on December 15, 2011 and the homeowner received the modification offer on March 13, 2012.  The Law Offices of Michael Gaddis will continue to monitor the progress of the trial as well as to ensure that the final loan modification documents are received and uploaded into Bank of America’s system properly.  Click on the link below to view the actual offer letter from Bank of America.

Bank of America Modifcation Approved Oceanside

 

Fallbrook, CA: Homeowner Receives a $175,536 Principal Reduction from Bank of America Loan Modification

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A homeowner working with The Law Offices of Michael Gaddis received an offer Bank of America to reduce the principal on their loan balance by $175,536.44.  The principal reduction is contingent upon the homowner completing a three month trial.  The underwriting process was extremely difficult and somewhat lengthy.  The homeowner was self-employed with several different types of income.  The investor on the loan had extremely rigid guidelines and underwriting criteria.  However, in the end, Michael Gaddis was able to obtain a loan modification proposal acceptable by both parties.  The Law Offices of Michael Gaddis will continue to monitor the process during the trial period to make sure that the final modification paperwork is received by the lender and that the loan modification is uploaded properly by Bank of America.  Click on the link below to see the actual offer letter from Bank of America.

Bank of America Modification Approved Fallbrook