So I want to ask everyone with interest only loans who visit this forum a question. I've been back and forth with Countrywide regarding getting my loan modified....all that I'm asking for is to have our interest rate decreased on both of our loans to lower our monthly payments (we have two loans with two different interest rates). I have been told by
CW that they will only modify ARM and Sub Prime loans. Is anyone else in the same situation and if so have you had any luck with
CW in getting assistance with this.....we don't even qualify for the new Hope for Homeowner's program coming into effect on Dec. 1st because again it's for ARM and Sub Prime loans. Does anyone have any advice or experienced the same thing and maybe received assistance elsewhere? I feel like there's got to be something out there for people like us who are also experiencing a hardship, but maybe I'm just not looking in the right place. Any advice?