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Mr. Thompson visited the Greater Sacramento Urban League after missing 18 mortgage payments that resulted in a pending sale date. He had heard about our affiliate from word of mouth and was on the brink of losing his home. Unfortunately, he had become disabled at work after over 40 years of service at Pacific Gas and Electric. Prior to becoming disabled, Mr. Thompson had an excellent history of paying his mortgage on time.
Our counselor was able to get the sale postponed after escalating the file to his servicer’s executive office. He was then approved for a modification with a principal reduction of $27,000, received a rate reduction from a 6% ARM to a 3% fixed rate, had late fees reversed and received a term extension for the loan. Additionally, Mr. Thompson was able to save almost $700 per month on his payments, and subsequently was able to retain his home!
If you or anyone you know needs help saving their home, contact our local Urban League near you!
