San Diego, CA (PRWEB) March 27, 2013
LoanSafeMods.com offers the REST Report to those who are seeking foreclosure alternatives. The REST (Real Estates Services and Technology Report) is a third party analytics report that shows homeowners exactly what kind of loan workout programs they qualify for. This report can also be shown to banks and lending institutes to help speed the processing of a loan modification request.
The website offers a number of useful tools to struggling property owners, including a free property analysis and the benefit of not having to pay until results from the Report come back. This risk-free assessment has helped many homeowners to find solutions to their loan modification application problems.
A new video on the LoanSafeMods.com website shows real life examples of how the REST has helped to benefit homeowners by showing them exactly what they qualified for and, more importantly, showing those holding their loans exactly how the numbers made sense and why it would be a better idea to approve a mortgage modification than to foreclose on the property.
One example is from a loan held by Bank of America. The REST Report done for this homeowner calculated that, given the new terms of the modification that was qualified for, the homeowner would have their monthly Principal, Interest, Taxes, Insurance and Association dues reduced from $3,031.88 to around $1,855.67.
The REST Report was sent in with the modification request and Bank of America approved the application. The calculated new payment was off by just 21 cents, with the bank approving the new payments at $1,855.88. Overall the homeowner is now saving $1,176 each month, $14,112 each year, and $554,664 overall.
Another property owner with a loan held by Bank of America ran a REST report and found that they qualified for the modification that they were trying to get. The REST Results projected that the new payment would be reduced from $2,808.72 to just $1,547.00. The actual payment, once the application was approved, was $1,547.20; just 20 cents difference!
Now this California homeowner saves $1,259 every month, $15,108 every year, and will end up saving $604,320 over the course of paying for their home. All this thanks to the REST showing them exactly what modifications they qualified for and, more importantly, exactly why they qualified.
A third example is from a mortgage that is held by JPMorgan Chase & Co. This homeowner found that they qualified for a reduction in their monthly Principal, Interest, Taxes, Insurance and Association dues payment by about $1,539.33. The new payments were projected at $2,290.70 per month. The actual new payment per month turned out even less, at $2,215.48.
Now this homeowner is saving $1,614 every month, for a total of $19,369 each year, and a lifetime savings of $752,193. And these are just a few of the examples of people who were able to turn their situations around and keep their homes thanks to LoanSafeMods and the REST Report.
The website also features a number of testimonial videos from real life people who had struggled with their mortgage payments and modification applications prior to finding the REST. These reviews and other tools for homeowners can be found on LoanSafeMods.com.