Monday, November 28, 2011 / by Lynn Horner Baker
Here is a sample calculator you can use to convince your lender to approve your loan modification.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
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 Lynn@HornerBakerPartners.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 770 579-4060
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our North Metro Atlanta 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, Lynn Horner Baker.
Lynn is a Real Estate Agent and owner of Horner Baker Partners. North Metro Atlanta Short Sales Realtor:
Phone: 770 579-4060. Lynn@HornerBakerPartners.com.
100% Released From Your Mortgage or We Will Pay You $1000.00!
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