Success Story

When Mr & Mrs DiDominico came to NHS on May 2012 moved to reduction of income to save their home. Both self-employed were affected by the economy slowdown.

They tried for several months to request their lender a reduction on the mortgage monthly payment that would highly help them not to have the need to used credit card to cover the monthly expenses, but no one help because they were current and the mortgage payment.

They said be advised to not make the payment to qualify for a loan modification. This would destroy their credit rating for no reason. After Eastbay NHS counselors work on the client budget to create an action plan to submit a successful loan modification application and contact Sovereign/Santander bank to negotiate on behalf of the DiDominicos.

" Finally in October of the same year our client received a permanent loan modification with a principal reduction for 9% of mortgage, in addition a reduction of the interest rate to 2.5% that will increase in 5 years to 3.5% and then fix for the remainder 35years. Their PITI monthly mortgage payment went from $3,200 to $1,800, " ~ a significate 44% reduction.