Loans, Debt & Credit - View Single Post

lallen · 05-05-2008, 12:59 PM

I just spoke with Nationstar and got some not so great news. Our loan mod has been approved --- for 6 months. AND we are only allowed 1 modification for the life of the loan. So this is it.

I know we should count our lucky stars to be getting anything at all, but honestly, we dont feel 6 months is going to solve our problems and allow us time to refinance/sell (our goal). Our interest rate is currently 8.5% and will be 6.5% until November. Then revert back to 8.5% and adjust every six months thereafter.

We have an appointment with NACA this Friday so hopefully they will give us something to hope for!

05-05-2008, 12:59 PM	#3 (permalink)
lallen Member Join Date: May 2008 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Nationstar Mortgage Loan Mod I just spoke with Nationstar and got some not so great news. Our loan mod has been approved --- for 6 months. AND we are only allowed 1 modification for the life of the loan. So this is it. I know we should count our lucky stars to be getting anything at all, but honestly, we dont feel 6 months is going to solve our problems and allow us time to refinance/sell (our goal). Our interest rate is currently 8.5% and will be 6.5% until November. Then revert back to 8.5% and adjust every six months thereafter. We have an appointment with NACA this Friday so hopefully they will give us something to hope for!