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Joanna Jensen's Blog

By Joanna Jensen | Real Estate Pro in 94566
  • Obtained a $250,000 Principal Reduction with Chase on a 4 plex 2.5% for the entire life of loan

    Posted Under: Market Conditions in Hayward, Financing in Hayward, Foreclosure in Hayward  |  June 21, 2012 9:24 PM  |  741 views  |  2 comments

    We recently negotiated a successfull  Principal Reduction Alternative Loan Mod.  On a 4plex  rental!

    Goal was to get piti payment to 31% of gross income.   Succedded 

    Now homeowners are cash flow positive $1,000 per month. 

    I know word on the street is that loan modifications do not happen and definat4ely principal reductions dont happen. 

    The servicer runs a Waterfal analysisl, with the goal of  getting your payment on the first loan, principal  taxes insurance , hoa to get to 31% of your gross incme. 

    If your loan is upside down you may qualify for a principal forebearance or forgiveness.

    If your working on a loan modification or sort sale you need to know your Net Present value  as well as the current market value of your loan. 

    For a free evaluation please call 

    925 699 5041

    JoAnna Jensen 
  • Principal Reduction Alternative Loan Modificaiton Approval with Chase Potential Money for select homeowners who qualify

    Posted Under: Market Conditions in Hayward, Financing in Hayward, Foreclosure in Hayward  |  June 3, 2011 11:26 PM  |  1,069 views  |  No comments
    I have a Permanent Loan Mod approval for a client from Chase with a Principal Reduction Alternative. 

    Additionally I know California is considered one of the Hardest hit states and may have money available for homeowners who are facing a financial hardship.

    some lenders are helping with specific programs:

    The folloiwng needs to apply:

    the home needs to be your primary residence
    you can not own a second home
    the first loan needs to be $729,950
    your income needs to be within specific guideliens

    Saxon Mortgage is offering help for potential principal reduction, and ohter programs 

    We are happy to help obtain this additional income if available when working on a loan mod or short refi. 

    When I call from our Law Firm I am always able to speak to a manager and get return phone calls. 

    Because I know the guidelines I have been able to get approved.  I have also been able to stop clients foreclosure sales. 

    JoAnna Jensen
    Legal Assistant
    Volo Law
    925 699 5041

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