“Your 2nd Chance is Our 1st Priority”1

JILL BERNI – Broker/Owner

“Celebrating 30 years of Customer Service”

At OakTree, we are dedicated to helping homeowners keep the American dream alive by helping them with a Loan Modification, Forbearance, Advocacy, or Short Payoff.

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SHORT SALE or LOAN MODIFICATION?

…YOU DECIDE.

Wants to modify their mortgage, or get out from the burden of their house payment.

Has a source of income

And Is behind on their mortgage payment Has had a hardship OR perceives there will be a

hardship in the future Whose rate is adjusting causing “payment

shock” Is upside down in the property Has the desire and will take action to get caught

up on payments that are presently in arrears

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A loan modification can mean many things. The classic definition: “A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan that allows the loan to be reinstated.”

Modification actions may include-- arrears repayment program interest rate reduction principle balance reduction

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A lender might be open to modifying a loan because the cost of doing so is less than the cost of default. If a bank takes back a home in a foreclosure, they have to maintain it, insure it, and market it . . . until it sells.“

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If the lender was willing to do a loan modification for the same homeowner, say lowering the principal to $283,000,

they would eliminate the $102,000 cost and have an asset which produces income in the future..

Current Proposed

Loan Balance $419,000 $283,000

Interest Rate 8% 5%

Term 30 year 30 year

Payment $3,074.47 $1,519.21

Interest EarnedOver Life Of

Loan0 $263,911.42

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24Hr Recorded message gives details: 1 866 866-6662 x5555 JILL BERNI – Broker/Owner “Celebrating 30 years of Customer Service”

SHORT SALE or LOAN MODIFICATION? …YOU DECIDE.