| Re: New Loan Modification program
Mr. Smith, sounds like we have the same loan terms, mine is 30 years, interest only for the first 10 with the pay option fixed rate of 6.5%. They didn't tell me who the lender is, do you know who yours is? As I stated they would not disucss any option with me other than the extended repayment plan. She flatly said they do not modify fixed rates, but I've read here that they have so perhaps there is more to it then simply the lender.
I'll be sending my hardship letter this week, but I intend to be straight with them and explain that the fair market rental value of this property is $1600, but my pmnt is $3800 and if they can't see a way to work with me than foreclosure is the next step. We shall see.
Yes they call me every other day and just sent a another late notice that says I am in default. Allthough it doesn't indicate that this is a notice of default. Thay also emailed a customer statisfaction survey after I spoke with home retention. I guess they wanted to know how I enjoyed the experience of not being helped! Haven't checked credit but I'm sure it sucks. |