Loans, Debt & Credit - View Single Post

need2savemyhome · 10-08-2008, 11:31 AM

Ok, I haven't heard from ALS yet. I did hear from my 2nd Saxon and they approve our mod. He faxed the 1 page of the mod. He wants it signed and faxed back ASAP. Our second loan was for $143,000.00 at 9.3% with a ballon payment at the end of the 15 yrs. The monthly payment was $1206.00

NOW, our loan new loan is at 4.9%, extended to 28 yrs and the new payment will be $800.00. Savings of $400.00.!!!!!! Our loan was extended for 15 more years but at least we don't have the huge ballon payment anymore.

No payment for Octuber and the new payment will be in November. Since we were current, the neg said it would not be marked in our credit history that we don't pay the October payment.

I couldn't believe it when the neg called me to say it was approved and he had the terms for us and faxed the mod in 5 minutes. So tonight, my husband and I will sign the paper and fax it back to the neg.

THANKS SO MUCH LOANSAFE.ORG and everybody in this forum. We couldn't have done it without this site. I am so grateful I came across this site and gave me helpful information.

Now, we are waiting for Aurora Loan Services on our first mortgage. I hope we get some modification also.

Again to all those waiting to hear sometime, don't give up. Keep praying and calling until you get an answer.

10-08-2008, 11:31 AM	#31 (permalink)
need2savemyhome Member Join Date: Jul 2008 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Not behind on mortgage but need a mod. Ok, I haven't heard from ALS yet. I did hear from my 2nd Saxon and they approve our mod. He faxed the 1 page of the mod. He wants it signed and faxed back ASAP. Our second loan was for $143,000.00 at 9.3% with a ballon payment at the end of the 15 yrs. The monthly payment was $1206.00 NOW, our loan new loan is at 4.9%, extended to 28 yrs and the new payment will be $800.00. Savings of $400.00.!!!!!! Our loan was extended for 15 more years but at least we don't have the huge ballon payment anymore. No payment for Octuber and the new payment will be in November. Since we were current, the neg said it would not be marked in our credit history that we don't pay the October payment. I couldn't believe it when the neg called me to say it was approved and he had the terms for us and faxed the mod in 5 minutes. So tonight, my husband and I will sign the paper and fax it back to the neg. THANKS SO MUCH LOANSAFE.ORG and everybody in this forum. We couldn't have done it without this site. I am so grateful I came across this site and gave me helpful information. Now, we are waiting for Aurora Loan Services on our first mortgage. I hope we get some modification also. Again to all those waiting to hear sometime, don't give up. Keep praying and calling until you get an answer.