6. What happens now? You refinance: CURRENT MORTGAGE: Loan Amount Interest Rate Monthly Payments 1 st Loan $350,000 7.5 % $ 2,447.00 2 nd Loan $ 50,000 9.0 % $ 402.00 Total Loan $400,000 $ 2,849.00+ T/I NEW MORTGAGE ESTIMATES: Current Market Value (CMV) / Broker Price Option (BPO): $ 250,000 Loan Amount Interest Rate Monthly Payments Loan $225,000 (90% CMV) 6.25 % $ 1,385.36 + T/I Instant monthly savings = $1,463.64 Eliminate $150,000 of NEGATIVE EQUITY! You Gain 10% Instant Equity
7. What’s in it for you? Your old mortgage payment $2,849+T/I / month Your NEW mortgage payment $ 1,385.36 + T/I / month* You Save $1,463.64 month That’s $17,563.68 / year *BASED ON 6.25 % INTEREST
8.
9. Regardless of… Loan To Value High Debt To Income Ratio’s Notice of Default Notice of Trustee Sale Alternative Income Allowed
10.
11.
12. How much? NEGATIVE EQUITY ONLY $1,595.00 N.O.D. or N.O.S. ONE TIME PROGRAM FEE OF $500
13. Getting Started 1003 Uniform Loan Application Contractual Agreement Borrowers Authorization Statement of Information Sheet Client Information Work Sheet