Loan Modification Forum - LoanSafe.org - View Single Post - Anyone had any luck with getting a better modification?

SueVee · 09-04-2008, 01:49 PM

I have an 2 year ARM that is set to adjust November 1st. I called the home retention number and talked to a supervisor and was told that I couldn't do anything until 60 days prior to it adjusting. I told her that although we hadn't made any late payments, we could not afford the payments to increase, and we have had our house on the market for what we owed, and couldn't sell it. SHe did take some rough numbers over the phone and because our outgo of bills was about the income we made, she said that we wouldn't qualify for any loan modification.

My husband and I have had good credit, and I explained to her that the exact same house was for sale for 125K LESS than ours, and it wasn't selling, and we didn't want to walk away, but needed some help on the 7.50% rate we were paying... She said there wasn't anything they could do, and to call government agencies and see if they could help.

I have read some threads that looked like they got further than I did on the phone, but I don't know where to start. Can you offer the best place to start, email or phone- and to whom? I am so stressed out about this, and want to get this ball rolling to see where it takes us ASAP!

Thanks for this forum!!

09-04-2008, 01:49 PM	#1 (permalink)
SueVee Junior Member Join Date: Aug 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Anyone had any luck with getting a better modification? I have an 2 year ARM that is set to adjust November 1st. I called the home retention number and talked to a supervisor and was told that I couldn't do anything until 60 days prior to it adjusting. I told her that although we hadn't made any late payments, we could not afford the payments to increase, and we have had our house on the market for what we owed, and couldn't sell it. SHe did take some rough numbers over the phone and because our outgo of bills was about the income we made, she said that we wouldn't qualify for any loan modification. My husband and I have had good credit, and I explained to her that the exact same house was for sale for 125K LESS than ours, and it wasn't selling, and we didn't want to walk away, but needed some help on the 7.50% rate we were paying... She said there wasn't anything they could do, and to call government agencies and see if they could help. I have read some threads that looked like they got further than I did on the phone, but I don't know where to start. Can you offer the best place to start, email or phone- and to whom? I am so stressed out about this, and want to get this ball rolling to see where it takes us ASAP! Thanks for this forum!!