Impact 5: Veteran receives $327,000 principal reduction

JUPITER, Fla. - Harry O'Brien's four-year fight to save his North Jupiter home was almost over when we first met him. The 20-year Army veteran showed up at our Impact 5 town hall meeting in Port St. Lucie in dire need of help.

"The house goes on the auction block in Palm Beach County tomorrow. The bank don't want to negotiate," Harry O'Brien told the crowd.

Six weeks later, that's all changed.

"As long as you make your payments on time for three years you'll receive a $327,000 principal balance reduction," Paul Baltrun told O'Brien

"Whoa I've seen some, but not like that," O'Brien said.

The Homeowner Assistance Division of the Paul Krasker Law Firm negotiated a mortgage modification for O'Brien, through the government's Making Home Affordable Program.

"One of the main reasons Harry wasn't getting the help was because the person who was making the decision didn't have all of the facts in front of them. Once that was done we were able to produce just an unbelievable response," Baltrun said.

In addition to the principal reduction, O'Brien's payments are dropping by two-thirds and his interest rate is now 2-percent.

O'Brien said he couldn't have done it without the Homeowner Assistance Division, a partner of the Impact 5 initiative.

"Both of our organizations are working towards the same goal and that is to get info out to homeowners to let homeowners know there are options, but even more importantly there are good people out there that maybe able to help you," Baltrun said.

"This has been a big impact on my life. I've been down and up, down and up, and now it's up and I hope we can keep it up."

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