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GreatViewFinancial.com
What is a Loan Modification?What is a Loan Modification?
The “nickname” is “Loan MOD”
(So if you hear that it means the same thing)
GreatViewFinancial.com
Loan Modification:Loan Modification:
Procedure where by a Procedure where by a loan’s payment plan is loan’s payment plan is
changed due to a hardship changed due to a hardship of the borrowerof the borrower
GreatViewFinancial.com
A payment plan consists of A payment plan consists of several parts:several parts:
•TermTerm•Interest RateInterest Rate•PrincipalPrincipal
GreatViewFinancial.com
The The TermTerm is the length of time is the length of time you make payments.you make payments.
(AKA amortization schedule)(AKA amortization schedule)
Typically that Typically that is is
30 years30 years
GreatViewFinancial.com
Interest is the Rate you pay Interest is the Rate you pay on the borrowed amount.on the borrowed amount.
Loans are set up with either an Adjustable Rate or Fixed
Rate
And some are a combination of both.
GreatViewFinancial.com
The Principal is the amount The Principal is the amount you borrowed.you borrowed.
In some cases this may be adjusted also.
GreatViewFinancial.com
How does a How does a Loan Modification Loan Modification
affect the parts?affect the parts?
GreatViewFinancial.com
Affects on Interest RateAffects 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)
GreatViewFinancial.com
Affects on the TermAffects 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
GreatViewFinancial.com
Principal (amount you owe)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.
GreatViewFinancial.com
By Making Changes to Each By Making Changes to Each Area Your Payment can be Area Your Payment can be Adjusted so that you CAN Adjusted so that you CAN
afford to stay in your home.afford to stay in your home.
These changes can add up These changes can add up to to several hundredsseveral hundreds of of $dollars$ per month$dollars$ per month
GreatViewFinancial.com
At Great View Financial We At Great View Financial We Are Here To HelpAre Here To Help
Hi, My Name is Yates Harrison. My Partner, Don Johnson and I
understand exactly what you are going through.
We Understand that Good People have Been Caught Up In The Housing Mess
Through NO Fault of Their Own.
GreatViewFinancial.com
Our Guarantee…Our Guarantee…
We Will Give You a Refund If We Can’t Get Your Loan Modified !!!
GreatViewFinancial.com
Let’s See If You QualifyLet’s See If You Qualify
Call TodayTo See if You Qualify to
Reduce Your Payment by HUNDREDs of Dollars
per Month
(636) 489-1439
GreatViewFinancial.com
Call Today … Call Today …
Don, Can Determine with Just a Few Questions if You
Qualify For This Exciting Loan Modification Program
(636) 489-1439