Nov
28
Written by:
Mayra Lema
11/28/2011 12:00 AM
IL – If you are looking to convince your lender to approve your loan modification, then here is a tool you might find useful.
Here is a sample calculator you can use to convince your lender to approve your loan modification.
The numbers below are an example. You can get your home value from an experienced short sale realtor, or an appraiser.
Current Home Value: $240,000.
Current Prevailing Interest Rate on a 30 year mortgage: 4.02%.
Current monthly payment on a $240,000 mortgage at 4.02% interest over 30 years: $1,148.57.
What I am offering to repay monthly on my loan modification: $1,400.
$1,400 over 30 years will repay a $292,538 mortgage at 4.02%.
That means
your bank will actually make $52,538 by approving my loan modification.
Do you think that calculation will make it easier to get your loan modification approved by your bank? I think so. Use it in your negotiations with your lender.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at info@realtyonegroupinc.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (773) 427-9200
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Jorge Romero.
Jorge is a Real Estate Broker at Realty One Group Inc. Short Sales Realtor:
Phone: (773) 427-9200. info@realtyonegroupinc.com.
View My homes for sale at www.RealtyOneGroupInc.com.
Jorge Romero and Team specializes in loan modification assistance and short sales in Chicago Illinois. Chicago Loan Modification Help, Chicago Short Sales. Chicago Short Sale Realtor IL Short Sales. Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
This information on Realtor Has Good Success Using Stop Foreclosure Institute Short Sale Negotiation Strategy is provided as a courtesy to our viewers to help them make informed decisions.