Quote:
Originally Posted by scarylarry  Garry,
My last payment was May 14th. My current interest rate (option ARM) is 3.0%.The "customer service" people tell me they are not in a hurry to give me a loan mod because I already have a low rate and it doesn't recast/reset for over 1 yr and I am not in danger of a shock payment but I have an Option ARM and a reduction in income.
I owe $564k on a 1st, no 2nd
(property tax appraisal for 2009 $259K)
With any length loan my payment will be high especially for my remaining term of 26 yrs 4 months. With MHA at least it could be extended out to 40 yrs and make it actually affordable until the market could come back like in 10 years and i could sell it and downsize.
My biggest frustration now is not knowing what is really going on over at B of A and not getting a fair shake at the MHA mod.
I am going to keep fighting but if it doesn't work out I might be better off starting over because I am so far underwater.
thanks
helpsave and garry |
I think they may still be taking people on a priority basis for the MHA, so hopefully things will start moving along better for you.
