Graham Legal, P.A.
814 Ponce de Leon Boulevard Coral Gables, Florida 33134
Phone: (305) 445-9185 URL of Map

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Massive Principal Reduction Loan Modification for Florida Homeowner Facing Foreclosure

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Graham Legal, P.A., recently obtained a principal reduction loan modification for a Miami, Florida homeowner that cut her mortgage by nearly 55%. When the homeowner met with foreclosure defense attorney, Dillon Graham for a free consultation; she was facing losing both her primary residence and her investment property. The homeowner’s first, out of three, trial modification payments was in September 1, 2012. As of December 1, 2012 the homeowner has entered into a permanent loan modification with Ocwen Loan Servicing, LLC and her court case has been dismissed. Here are the numbers:

 

Old Principal Balance: $420,322.59

New Principal Balance: $190,570.00

Percentage Savings: 55%

Old Principal & Interest Payment: $2,802.50

New Principal & Interest Payment: $1,193.94

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