This was a 2nd mortgage defaulted and in collections. She was looking at possibly having to sell her home or foreclose, because her interest rate was going up.
Sally is still in the home. She had 125k equity in her property including both 1st loan and 2nd (defaulted loan). This makes it extremely hard to settle when there is this much equity in a home. However in just one week with the CiQ team we were able to settle with Wells Fargo Mortgage for 10%.
This amounts to a savings of $43,148.42.
We were also able to remove the lien on the property (2nd mortgage). She now only has 1 mortgage.
Now she can refinance her home from a rate of 5.7% to a 3.5% 30 year fixed loan – saving her $425.00 per month.
So this was a blessing to her as she would have had to sell her home and rent an apartment.
Another Happy Client for Life!