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Originally Posted by JJsFrustration  It sure seems like I may have to go this route and stop making payments. I'm hoping that since this person said she was sending it to Loss Mit, that I'll get some positive news on my next call, but I'm sure not counting on it. I made the October payment on 10/30 so I have the rest of this month to figure out if I should stop making payments. My problem is that if we are unable to modify the loan, we are going to have to sell the house and there's a little bit of equity. I'd hate to have to get involved in the whole foreclosure mess. |
Depending on what state you are in, foreclosure doesn't become an issue until you miss 3-4 payments. If you don't make the payments save as much of them as you can so that if you don't get a mod you will at least be able to handle a repayment plan to pay back the payments you defaulted on. Home Affordable has a refi program too, how come you can't refinance? Don't wait on Chase to get back to you, keep in contact with Freddie or contact your local HUD office as Chase hasn't done anything for you to this point. The lender uses your paystubs for your income so unless you make a pitiful check per month you should qualify for something.