Pro City Loan Modification Gets Interest Cut Almost In Half

It does not get any better than this. This is a modification of a non-owner occupied property. The modification request was initially submitted on 8.8.2009. The file was declined and re-submitted to lender several times and the negotiated outcome was outstanding. These are the terms:

• First payment on 4.1.2010.
• Payment is $4990.81 which includes taxes, insurance, principal and interest, a savings of $1208.19 a month over the old payment.
• $71,000 in delinquent payments were capitalized to the end of the loan.
• Rate is 3.25% for the life of the loan. The old rate was 6.375%.

Pro City Loan Modification Gets Principle Reduction of $200,000

Lender requested documents numerous times but would not assign the loan to a negotiator. We were able to get through to the manager and get the modification completed.

Client had an Option ARM loan with a principal and interest payment of $3683.50.
New Principal and interest payment $1616.77 a savings of $2066 a month.
Interest rate is fixed at 2% for 36 months then at 2.33% for the life of the loan
Principal reduction of $200,000

Pro City Loan Modification Saving $3500 per month

Modification request was initially submitted to lender by Pro City on 6.25.2009. The existing loan terms are: loan amount $902,000, adjustable rate mortgage, with a payment of $8405 per month. When Pro City undertook the modification the loan was delinquent over $66,000.

Lender denied the modification two times because of the substantial delinquency.
Pro City continued to push the lender basing our argument on the marketability of the property and past payment history prior to the borrower's financial hardship.

On 2.23.2010 borrower was approved for a modification.
The new terms offered the following:

• 2.25% fixed for 5 years from 8.5%. Rate will go back to market rate after 5 years.
  PITI payment is $5023.57 from $8504.42, saving of $3500 per month.
• Down payment due of $10,161.69 to cover lenders administrative costs and foreclosure fees
• 1st payment is due 05/01/10

Pro City Loan Modification Saving $2650 per month

Pro City initially submitted the loan for a modification on 3/2/09. The client’s loan was a negative amortization loan with a payment amount of $4865.00 including taxes and insurance. During the course of our work, the modification request was denied at least two times and the lender continued to tell Pro City and the client that their decision was final. In October of 2009 Pro City was able to convince the lender to begin negotiations to alleviate our client’s financial hardship.

On 3.16.2010 Pro City was able to obtain a modification. The terms of the modified loan are:

The new payment is $2201 principal, interest, taxes and insurance. This represents a savings of over $2650 per month. The lender has committed to a 2% rate for 5 years and will consider capitalizing the delinquent payments at that point.

$8000 First Time Home Buyer Tax Credit End Soon!

If you are planning on taking advantage of the $8000 first time home buyer tax credit, you need to act now. This federal tax credit expires on 4-30-2010. Visit www.procitymortgage.com/current_promo.php for mor info.

Pro City Customer Satisfaction Survey Website

Pro City Mortgage Corporation has launched a dedicated customer satisfaction survey website where Pro City customers can submit feedback about their experience with any of the Pro City companies. Visit www.procitysurvey.com

New Pro City Customer Testimonial Website

Pro City Mortgage Corporation launches customer testimonial website where you get a chance to see and here for yourself what other Pro City customers have to say. You can even submit your own testimonials for others to read.

Visit www.procitytestimonials.com

Pro City Industry News

Pro City Mortgage Corporation launches it own industry news website where you can get the latest news surrounding the industries of the Pro City companies.

visit www.procitynews.com

Pro City Mortgage Official Blog

Pro City Mortgage Corporation has just launched the official Pro City Information Blog @ www.procityblog.com

Here is where you can stay up to date as Pro City journals the growth and expansion of the Pro City Companies.

Pro City Mortgage Corporation adds Pro City Real Estate

Pro City Mortgage Corporation has expanded to include Pro City Real Estate. See for yourself @ www.procitymortgage.com/realestate

As a leader in the industry, our name is our way of business. The professionals at Pro City have taken a simple appoach of being the best in the industry when it comes to achieving your real estate needs. At Pro City, we believe the integrity of our firm and the professionalism of our agents will result in you being a happy and satisfied Pro City home owner.

New Pro City Mortgage Website

Pro City Mortgage has launched it's new website @ www.procityonline.com