Here are a few scenarios that will let you better understand how our programs may work for you.
- Property Located in Mission Viejo, CA
- Property purchased in April 2005, for $465,000
- Valued in October 2011 for $310,000
- Amount owed on 1st TD - $325,000 with a monthly payment of $2412.00 PITI – Mtg with Wells Fargo
- Amount owed on 2nd TD - $80,000 with a monthly payment of $450.00 – Lender was Wells Fargo
- 9 months delinquent on payments, NOD filed in June of 2011 and a Trustee Sale Date of Nov 18, 2011
- Client engaged the services of ASCENT on November 7th, 2011
ASCENT was able to postpone the Trustee Sale Date of property, on Jan 26, 2012, (less than 3 months after the client engaged the services of ASCENT) a loan modification was approved on the 1st TD, lowering the clients payment to $1501.26 or a monthly savings of $910.74. The mortgage is now current, the home is no longer in foreclosure and ASCENT is currently working on modifying the 2nd TD as well to obtain additional savings for the client.
- Property located in Henderson, NV
- Property was purchased in September 2003 for $268,000
- Valued in December 2009 for $198,000
- Amount owed on 1st TD was $389,000 with a monthly payment of 2855.00 PITI – Mtg was with Aurora Loan Servicing
- 16 months delinquent on payments with a Trustee Sale Date Scheduled for March 1st, 2010
- Client engaged the services of ASCENT in January 2010
ASCENT was able to get this file into review for a Loan Modification prior to the Trustee Sale Date of March 1, 2010, thus the Trustee Sale Date was postponed. Approval for a Loan Modification came in June of 2010 lowering the client’s monthly mortgage payment to $1579.35 per mo, saving the client $1275.65 per month. The client has kept the mortgage current, the home is no longer in foreclosure and ASCENT has begun working on restoring the clients credit scores which were damaged due to the late payments on both the mortgage and credit cards and the client has experience a 95 point credit score increase due to the Credit Restoration Services offered by ASCENT as well.
Case Study 3:
- Property located in Colorado Springs, CO
- Property was purchased in June 2007 for $379,900
- Valued in Feb 2011 for $205,000
- Amount owed on 1st TD was $303,000 with an interest only payment of $1516.50 – Countrywide was the mortgage company for the 1st TD
- Amount owed on 2nd TD was $76,000 with a monthly payment of $639.00 – B of A was the mortgage holder of the 2nd TD
- Taxes and Insurance per month on property were $212.50
- 7 months delinquent on both 1st and 2nd TD and there were delinquent property taxes due for 2009 and 2010
- Trustee Sale Date was set for March 22, 2010
- Client engaged the services of ASCENT the first week in March 2010
ASCENT was successful in getting the Trustee Sale Date postponed. Approval for a Loan Modification on the 1st TD was obtained in November of 2011; the payment (including taxes and insurance) was $1332.45. Also in Jan 2012 an approval for the 2nd TD was given by B of A and the monthly payment for the 2nd TD is now $280.91 making the total monthly housing expense $1613.36 or a monthly savings of 754.64! The home is now out of foreclosure all loans on the home are current, the taxes, late fees, penalties, and costs were “rolled” into the loan and the client has been able to stay in his home. ASCENT is now starting to help rebuild and re-establish the credit scores for this client as well.
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