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Review 3/21/2010
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These guys saved my life! I was literally two weeks away from being evicted from my house (where I have lived since I was 3 years old) when I got the call from my mortgage lender that my load modification app had been accepted and I became one of 9% of homeowners nationwide that applied for a load mod and actually got one. And I can't thank Magnus Financial enough, especially a gentleman by the name of Ulises Lopez who personally handled my case.
Like many others affected by the failing economy and a skyrocketing adjustable rate mortgage I watched in horror as my monthly mortgage payment went through the roof. I was recovering from back surgery, out of work with no health insurance and my debts were rising. I had borrowed money from my friends and family members but was still unable to make the higher monthly house payments and after three short months I was officially in foreclosure.
At first I tried to apply to the various rescue programs offered through HUD and the government, but I never got a call back. When I appealed to my lender for help they simply gave me an 800 number to call and would answer no more of my questions because I was technically "in foreclosure". The 800 number they gave me turned out to be for HUD, the same number I had already called.
I was at the end of my rope when I decided to try contacting one of those loan modification companies and after checking on the BBB website I decided to contact Magnus Financial as they were one of the few outfits who did not have a single complaint filed against them.
For eight long months they acted as my advocate, delaying the foreclosure process, coaching me through the legal process and providing a shoulder to cry on when time after time I was turned down by my lender. But they never gave up and continued submitting proposals to my lender at key points in time when congress was arguing for homeowner assistance or the White House was announcing bailout measures for the banks and Fanny Mae.
Then at the 11th hour, success! And what did I get for the eight months of hard work that Magnus did on my behalf? How about;
1) $111,000 in principle forgiven off the top of the loan
2) Mortgage payment reduced from $2,400 to just $900 per month
3) Loan converted from adjustable APR to 40 year fixed rate
4) Eleven months of past due payments erased from credit report
5) The loan starts out like new again, with payment No. 1.
Magnus Financial treated me with respect and kept me informed of everything they were doing behind the scenes throughout this long process. They acted as both my agent and protector and kept a human face on my situation as they repeatedly fought for me against the 'mortgage lending machine'. Thanks to them I not only was able to survive, I now have the ability to thrive and get on with my life.
Thank you Magnus and Mr. Lopez for standing by me during the worst of times and saving my home!
P.S. - I am not writing this review as some sort of advertisement or promotional gimmick as there are other companies out there who can also help you in these situations and are not rip-offs. But for anyone who is going through the same type of headache that I just went through I would want them to know that they do have options and based on my experience Magnus is one of those players who can and did make a difference.
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