Loans, Debt & Credit - View Single Post - Emc chase denied load mod after 9 months of waiting!!!

Stressed_EMC_Customer · 08-04-2009, 07:14 PM

Our net income per month is $4,600 and the mortgage payment is $4,100. They gave us an interest only loan in the amount of $417,000 and a second mortgage in the amount of $81,000 2 years ago. We were making less at the time the mortgage was written.

Our monthly expenses are $2,400 without the mortgage therefore we are in the negative by at least $2,000 per month (which is the total debt we incur each month on the credit cards for the past 2 years). We were praying that we were going to be modified then were going to file bankruptcy on the credit cards.

He didn't say what rate he was trying to reduce to.

08-04-2009, 07:14 PM	#7 (permalink)
Stressed_EMC_Customer Senior Member Join Date: Jun 2009 Posts: 49 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Emc chase denied load mod after 9 months of waiting!!! Our net income per month is $4,600 and the mortgage payment is $4,100. They gave us an interest only loan in the amount of $417,000 and a second mortgage in the amount of $81,000 2 years ago. We were making less at the time the mortgage was written. Our monthly expenses are $2,400 without the mortgage therefore we are in the negative by at least $2,000 per month (which is the total debt we incur each month on the credit cards for the past 2 years). We were praying that we were going to be modified then were going to file bankruptcy on the credit cards. He didn't say what rate he was trying to reduce to.