Nonprofit Alliance of Consumer Advocates helped a Homeowner get caught up on her mortgage and get a lower interest rate
Loan Modification is a great option to save your homeownership if you are behind on your mortgage.
COSTA MESA, Calif., June 1, 2022 /PRNewswire-PRWeb/ -- If someone is in a position where they cannot make their regular mortgage payments, a Loan Modification is a great way to save their right to homeownership and improve their financial situation. While forbearance may be a short-term solution, a loan modification will permanently modify their existing terms. For example, a lower interest rate, extended repayment period, and lower monthly payments may be the perfect solution for their financial situation.
The goal of a Loan Modification is to lower the amount of money a homeowner owes to their Lender while preventing Foreclosure.
A Loan Modification is a common option for homeowners who cannot afford their payments. A successful applicant can be represented by a professional and experienced Loss Mitigation expert who will assist in modifying both Government-Backed and Conventional Loans for FREE, that's right, ZERO cost out of pocket.
Through their Federal Governments 501C3 credential, the Lender receives the Nonprofit Clinic full Loss Mitigation file for both State and Federal Law mandates. There is an immediate cease and desist on all foreclosure activity, even if the Trustee Sale auction is only several days away.
Like various other homeowners, Joanne Gallon worked with numerous attorneys and agents that were unsuccessful in securing a Loan Modification.
The Nonprofit Alliance of Consumer Advocates, Loss Mitigation Clinic focuses on Homeownership Preservation and Affordable Housing and has been helping homeowners with their loan modifications and other more aggressive and complex expert loss mitigation strategies through its current Senior Legal Services Director, Attorney Fernando Leone, for over a decade.
Ms. Joanne Gallon reached out to the Nonprofit Alliance of Consumer Advocates when her Lender refused the loan modification with the unpaid principal balance of $462,570.93. She was delinquent $173,699.16 with a total mortgage payment of $4,559.45 a month.
The Nonprofit Alliance of Consumer Advocates helped reduce their interest rate from an adjusting 9.125% to a low fixed 3.875% and lowered their mortgage payment to $4,047.81 while resolving her delinquent amount and, more importantly, taking her out of Foreclosure.
Ms. Joanne Gallon is grateful to work with the Nonprofit Alliance of Consumer Advocates. They helped her with the loan modification and got caught up on her mortgage, which like so many others, she was behind due to the COVID19 situation.
The Nonprofit Alliance of Consumer Advocates main mission is "Consumer Advocacy" and providing legal homeownership preservation services to help a homeowner to save their home and provide them with enough information and resources to make the best long-term decision for their family. For assistance, call (855) 622-2435 or visit them at https://NACAlaw.org.
Media Contact
Mr. De La Vega, Nonprofit Alliance of Consumer Advocates, 1 8556222435, [email protected]
SOURCE Nonprofit Alliance of Consumer Advocates
Share this article