Quote:
Originally Posted by Rumor  Sandy,
I thought it might be the "mod" that they gave us back in march bringing us current and raising our payment.
Melanie,
Thanks for the info  I'll make sure not to ask questions like that anymore on here in fear of offending someone. |
I sure hope not! You go for a mod cause paymts. are too high and then they give you a higher payment than your origional one
. I do understand that it will stop my sale date though, hopefully.
The fannie sites states that "
forebearance is a temporary reduction or suspension of pymts. which must be immediately followed by an arrangement-either a repayment plan or a Home Savers Advance to cure the delequency." A Home Savers is the crappy mod
CW gave me origionally that raised my payments using a seperate loan for the past due balance. Rumor I think that's what you got too. Here is the site that Moe gave me.
www.efanniemae.com/sf/servicing/pdf/loanworkoutfactsheet.pdf
Interesting that NACA told me they were offering a 3 mo. forebearance not a 6 like it mentions on the site. So I guess they can predict the future and they think this is atemporary financial situation.
I thought last night what Fannie might be thinking is that... I have a 2nd. mtg. And that if I file BK and that the 2nd goes away...
that the origional 1st mtg. paymt. is close to the dollar amt. that NACA submitted for me on both loans. So I think they are trying to push me into BK so I only keep the 1st mtg at ahigher interest 7.25%. Because if I got a MOD for both loans and then filed BK that the 2nd mtg would go away and I would be sitting with one loan. And they don't want to mod me before that BK since they know I could afford the paymt. Hope you can understand that babble!!