This final modification was secured for one of our clients after they had successfully made three trial plan payments. The original payment was $4300 so this was a substantial difference.
Principal Balance:$592,390.20
Years: 1-5
Interest Rate: 2.0%
Monthly Principal and Interest Payment: $1759.54
Year: 6
Interest Rate:3.0%
Monthly Principal and Interest Payment: $2044.17
Year: 7
Interest Rate:4.0%
Principal and Interest Payment: $2344.62
Year: 8
Interest Rate:5.0%
Monthly Principal and Interest Payment:$2658.45
Years 9-40
Interest Rate: 5.125%
Monthly Principal and Interest Payment: $2698.15
This post was written by Aubrey Feriante
