Loan Modification Forum - LoanSafe.org - View Single Post

kcchica · 07-20-2009, 09:00 AM

Thanks for the reply, I appreciate the time and thoughts!

I don't understand the homesavers program at all either. Unless someone's financial issue is temporary. What good does paying less for only 6 months help someone unless they will be making more (which isn't our situation).

We are supposed to pay almost exactly 1/2 of our regular payment, but only for 4 months (not 6) and she did say the point was to show the investor that we were in default. She also mentioned that the default amount (= 2 full payments at the end of the forebearance) would be either due immediately or rolled into our new loan.

07-20-2009, 09:00 AM	#18 (permalink)
kcchica Member Join Date: Jul 2009 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Forebearance = trial period? Thanks for the reply, I appreciate the time and thoughts! I don't understand the homesavers program at all either. Unless someone's financial issue is temporary. What good does paying less for only 6 months help someone unless they will be making more (which isn't our situation). We are supposed to pay almost exactly 1/2 of our regular payment, but only for 4 months (not 6) and she did say the point was to show the investor that we were in default. She also mentioned that the default amount (= 2 full payments at the end of the forebearance) would be either due immediately or rolled into our new loan.