Upload
selina-keetch
View
224
Download
2
Tags:
Embed Size (px)
Citation preview
Approved Loan Mods
Keeping thing simple
Load Modi {Ms.Evelyn Campbell}
• Multiple Investment Properties
• Negative Rental Income {Loss}
Nature of Hardship
1. Shutting down of business
2. Difficulties in renting Properties
• Lender AHMSI & Citimortgage
www.rhombustechnologies.com
01
AHMSI {Investment Property}
www.rhombustechnologies.com
02
• 378 Myrtle Avenue• TAT :- 40 Days• Efforts :- Package Sent, 3 calls & without Negotiations deal is approved & Package sent to the Borrower.
Case Strength :- 1. Borrower Past Due for 3 payments {90 days} 2. Declining House Price by 20%•18 Arverne Terrace• TAT :- 30 Days• Efforts :- Package Sent, 3 calls & without Negotiations deal is approved & Package sent to the Borrower.
Case Strength :- 1. Borrower Past Due for 3 payments {90 days} 2. Decline in House Price by 20%
Citimortgage {Investment Property}• 59 Girard Avenue• TAT :- 25 Days• Efforts :- Package Sent, 5 calls & Updated Financials over the phone, deal is approved & Package sent to theBorrower.Case Strength :- 1. Borrower Past Due for 3 payments {90 days} 2. Decline in House Price by 25%
www.rhombustechnologies.com
03
The deal that we got !!!!• Step up Program with AHMSI on both the properties with the Rates capping at 6.25 % for Life of the Loan rate starting from 2%• Citi has put her on Trial Payment PITI of $ 1,850.00 & has promised that the payments will be in that range,earlier payment was $ 2,722.00
………………………………………………………………..............................................................
www.rhombustechnologies.com
04
Loan MOd 2 Dawn Franco
www.rhombustechnologies.com
05
Nature of Hardship• Separation• Loss of Job• Drawing Unemployment• DTI 200%
Wachovia {Paimary Residence}• 8 Pine Ave• TAT :- 15 Days• Efforts :- Package Sent, 2 calls updated the Financials over the phone, send the most updated income proof.Case Strength :- 1. Borrower Past Due for 5 payments {150 days} 2. Decline in House Price by 20% 3. ARM Loan
………………………………………………………………..............................................................
Old Terms:-
www.rhombustechnologies.com
06
• Principal Amount $324,394.00
• PI Payments $2,087.24
• Rate of Interest 7%
The Deal THAT WE GOT!!!!
www.rhombustechnologies.com
07
Load Mod 3 {Adriana Marmalejo}Nature of Hardship 1. Single Mother 2. Reduced Income 3. DTI 150%
www.rhombustechnologies.com
08
Chase {Primary Residence}• 157 Jackson St• TAT :- 60 Days• Efforts :- Package Sent, many calls to the lender, updated the Financials
over the phone. Case Strength :-1. Borrower Past Due for 5 payments {150 days}2. Decline in House Price by 25%
………………………………………………………………..............................................................
Old Terms:-• Principal Amount $369,671.00
• PI Payments $3,270.96
• Rate of Interest 7%
www.rhombustechnologies.com
09
The deal that we got !!!!
www.rhombustechnologies.com
10
Loan Mod 4 Christan JomocNature of Hardship• Reduced Income• Loss of Job• DTI 55%
Indymac {Primary Residence}•1363 ManzanaWay• TAT :- 10 Days• Efforts :- Package Sent, 1 call & the Mod was approved Case Strength :-1. Borrower Past Due for 2 payments {60 days}2. Decline in House Price by 35%
………………………………………………………………..............................................................
www.rhombustechnologies.com
11
Old Terms:-• Principal Amount $343,898.00
• Payments $2,006.08
• Rate of Interest 7% interest only.
www.rhombustechnologies.com
12
www.rhombustechnologies.com
13
Loan Mod 5 Margaret BeltonNature of Hardship• Reduced Income• Loss of Job• DTI 70%• Spouse Passed Away
www.rhombustechnologies.com
14
Nationstar {Primary Residence}• 685 Haxton Avenue.• TAT :- 35 Days• Efforts :- Package Sent, Many calls made & the Mod was approved
Case Strength :-1. Borrower Past Due for 4 payments {120 days}
………………………………………………………………..............................................................
Old Terms:-
Principal Amount $316.356.00
Payments $2,040.08
Rate of Interest 6.75% interest only.
www.rhombustechnologies.com
15
www.rhombustechnologies.com
16
www.rhombustechnologies.com
17
www.rhombustechnologies.com
18
www.rhombustechnologies.com
19
www.rhombustechnologies.com
20
www.rhombustechnologies.com
21
www.rhombustechnologies.com
22
Contact Us
Rhombus Technologies Inc.
82-36, 259th St., Floral Park, New York, 11004
Contact Person: Rekha Singh (Rebecca)Tel: 1-877-869-7950Fax: 1-800-309-6316Email: [email protected]: www.rhombustechnologies.com
www.rhombustechnologies.com
24
Keeping thing simple
Rhombus Technologies Pvt.Ltd.601,Dhanthak Plaza,Makwana Road,Marol .Andheri(East),Mumbai 59 | T: +91 22 2850 1416 | F:+91 22 6692 660082_36 259 St Floral Park NY 11004 | T:866-833-6840 | F: 800-579-4118z