Coast to Coast helps homeowners with loan modifications

The last place many would expect to see a person’s loan documents is hanging on the front window of a business, but at Coast to Coast Consulting Services, these documents hang high.

The owners of the Maricopa business advertise their success on their storefront, as the documents display homeowners, with names and other sensitive information redacted, who have had their mortgage payments reduced through the services offered at Coast to Coast.

“Many people think they are not eligible for a loan modification, but that is not the case,” said Courtney Hannon, owner of the business that specializes in loan modifications, short sales, bankruptcies, credit repair and other financial services. “By walking by our window and seeing the people we have been able to help, it lets them know we might be able to help them also.”

While the real estate fallout has hit Maricopa hard for the past couple of years, Coast to Coast has been helping people through foreclosures for the past seven.

Hannon and her husband, Will Younghans, got their start in the financial service industry almost nine years ago, when they were working for a company very similar to the one they operate today.

“That company folded and we saw a need to continue offering these types of services, so we started C2C,” Hannon said.

Since starting Coast to Coast, Hannon said her company has seen a bevy of success stories, modifying almost 90 percent of the files taken in.

“We have one guy whose interest rate we just got reduced from 8 percent to 3 percent fixed for the life of the loan,” Hannon said. “It will save him $1,000 per month.”

Hannon said their clients benefit from the couple’s connections in the industry and a lack of connection to the homes on which they are trying to modify payment terms.

“Normally when a homeowner calls a bank, the bank knows the person on the other end of the line has a vested interest in the home,” Hannon said. “They (the bank) will try to use that interest against the homeowner, but they cannot do that with us.”

The price on a loan modification is not fixed, but typically varies from $600 to $1,200 with payment plans available.

Although the couple has lived in Maricopa for almost five years, this April they finally decided to open a storefront for their business.

“We were just growing so large that we needed the extra space,” Hannon said.

To celebrate the new location, Coast to Coast will be holding a grand opening ceremony at 5 p.m. Saturday.

The event will allow people to get free 20-minute consultations and will also include a raffle for a Nintendo Wii, iPod Nano and gift cards to Mando’s Mexican Food.

Business Details
Name: Coast to Coast Consulting Services
Address: 20928 N. John Wayne Parkway
Phone: 1-800-501-0907
Web site: www.nofaultdefault.com
Hours: 8 a.m.-5 p.m. Monday through Friday

Photo by Michael K. Rich