REST Report Provides Mortgage Loan NPV Analysis; Now Available to Consumers from getRESTreport.com

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getRESTreport.com makes the facts and figures used by the banks in determining eligibility for HAMP and other programs available to homeowners. Proprietary software system generates reports so millions of borrowers can access net present value (NPV) data before contacting their bank.

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The document compares the various financial outcomes that would result from modifying a mortgage compared to the costs of foreclosure. This document empowers homeowners to make sound decisions based on facts.

getRESTreport.com today announced the availability of the REST Report to the general public. Designed to help distressed homeowners by providing NPV information, each personalized, 11-page REST report provides loan disposition data used by banks and the United States Treasury Department to determine if the qualifications set forth in President Barack Obama’s HAMP program have been met.

In addition, the report evaluates in-house modification numbers to assess if there is a legitimate claim to reduce the rate or principle, or extend the term of the loan. Borrowers that don’t qualify for one of these programs can use the report when considering a short sale, deed-in-lieu, or returning the property to the bank.

Previously, only banks and financial institutions had access to this sophisticated loan disposition analysis software. With getRESTreport.com, consumers have access to up-to-date information, which empowers them to make effective decisions.

“Before getRESTreport.com, homeowners turned to friends, family members, self-proclaimed specialists, and attorneys to determine the best way to approach the banks,” said Corvi Urling, Executive Assistant, getRESTreport.com. “Or worse, they entered into a trial modification with their lender only to be told after several months that they actually don’t qualify for the program.”

With a copy of the REST Report from getRESTreport.com in hand, homeowners can determine if they qualify for any of the available programs before they invest time and money in the process. They can use that data to prepare a package that explains to the lenders and servicers why makes financial sense to modify the loan.

“Whether the loan is held by Bank of America, Wells Fargo, Citibank, Wachovia or one of hundreds of smaller institutions, the 11-page REST Report from getRESTreport.com analyzes the financial institution’s requirements, the specifics of the property, and the borrower’s current financial situation,” said Urling. “The document compares the various financial outcomes that would result from modifying a mortgage compared to the costs of foreclosure. This document empowers homeowners to make sound decisions based on facts.”

The REST Report is significantly different than many of the “free” reports available to the public because it shows all of the facts and provides borrowers with the definitive data they need to face the banks in court.

“Whether a homeowner attempts to negotiate with their lender or servicer on their own, or retains an attorney or other third party to represent them, they need substantive facts about the possible dispositions of that loan proving that it is in the best interests of investors to approve the modification or short sale,” said Urling.

About getRESTreport.com
getRESTreport.com provides homeowners with access to information, tools and knowledge that may help in the negotiation of a loan modification and in dealing with other debt related issues. Armed with this information, consumers are empowered to determine if they qualify for HAMP or an in-house modification before spending time and money to pursue that option. Homeowners that qualify can use the information in the report during negotiations with their lender or servicer. Those that don’t can make decisions based on the facts.

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Corvi Urling
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