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klynn72 · 07-20-2009, 10:44 PM

Well it has been 10 long months and 2 modifications offered by BofA that we rejected, but we finally got a modification that we can work with. 5 year interest only at 3% then it converts to principle & interest at 5.25% for the remaining term of the loan (which will be about 20 years). They also split the late fees with us. I couldn't have rented for cheaper than my mortgage is now......plus we get to stay put.....it works!!! Kind of a little funny thing......when we went to have the documents notorized, the notary looked at us as we walked in and said "loan mod???" to which we replied yes and she said she is notorizing about 20 a week(there are about 10 notories within 10 miles of my house)!!!! So for those of you still trying....be persistent!!!

07-20-2009, 10:44 PM	#10 (permalink)
klynn72 Member Join Date: Mar 2009 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: A Bit Baffled by CW here in CA!!!!! Well it has been 10 long months and 2 modifications offered by BofA that we rejected, but we finally got a modification that we can work with. 5 year interest only at 3% then it converts to principle & interest at 5.25% for the remaining term of the loan (which will be about 20 years). They also split the late fees with us. I couldn't have rented for cheaper than my mortgage is now......plus we get to stay put.....it works!!! Kind of a little funny thing......when we went to have the documents notorized, the notary looked at us as we walked in and said "loan mod???" to which we replied yes and she said she is notorizing about 20 a week(there are about 10 notories within 10 miles of my house)!!!! So for those of you still trying....be persistent!!!