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Originally Posted by sandyg  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!! |
Got Fed-X today from BOA on the forbearance!!!!!!
The paperwork is also due today!!!!!!! Of course!!! Morans!!!
It is a 3 months forbearance without payments. Who knows why. I am waiting on the phone now with NACA.
It says the dollar amount that I am behind and all the late fees. I think that they are saying they will give me 3 months to come up with the behind payments. What a joke!
But the Fannie site does say that they will give you a forbearance and then it will be followed with a mod. I want the NACA mod so I can move on with my life with an affordable loan.
Pray for me, please!