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SLS Mortgage

D.K. and K.K bought a house as a fixer. They were willing to pay a 9.5% rate because they were going to turn the property for a profit. The mortgage payment, including taxes and insurance were over $1,700 per month, which was okay because they were temporary. Unfortunately the Great Recession set in and values dropped. They were stuck. They rented the house to a friend for $795 per month. The $900 per month negative cash flow started to mount up. They tried on their own to get a modification but were turned down. They came to me.

It is not as easy to negotiate modifications on rental properties. Lenders handle them differently. They are tricky. However, SLS agreed to a trial payment program with payments of $1,248 per month and an estimated interest rate of 5.26% per year. If D.K. makes his four trial payments on time, he will get his modification.

D.K. wrote me this letter:

Finally!!  A skilled Attorney who feels the same urgency, in dealing with our legal problems, that we ourselves do.

James seems to have that perfect balance of legal expertise and common sense that allows him to connect with us personally and understand our sense of injustice, while still being able to maneuver through the legal system and gain a victory.

We found out about James from 2 people who had had success in having wrongs set right, very quickly.

So, if you are in a legal fight, James is a good man to have in our fox hole.

DK & KK

Read the trial payment plan here.

Read the final modification here.

One Comment

  1. Hello, I have a loan, first and second that comes to a little over 400,000. The house is worth around 220,000. Monthly payment with SLS is 3000 per month. I live in Brentwood, ca 94513. I do make the paymentS, but barely, it doesn’t make business sense to continue down this road. Suggestions?

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