Loan Modification Forum - LoanSafe.org - View Single Post

Schnelle · 01-12-2009, 03:35 PM

LHarveyMadman,

Thank you for your very informative and coherent feedback.

A modification of my loan to:
1^st loan: 4% for 30 years (principal and interest)
2^nd loan: 5% for 30 years (principal and interest)

will bring my net cash flow of 170 a month. I am very confident that with these terms, my husband and I will be able to maintain our payments. Our income is also expected to increase once I graduate this coming May.

My husband and I have maintained excellent credit rating currently above 760 all these years. It will be a shame to loose our good credit rating only because we could not refinance due to lack of equity in our home.

I will be revising my letter to Countrywide taking into account all your suggestions. Thank you so much for taking the time to respond.

01-12-2009, 03:35 PM	#9 (permalink)
Schnelle Senior Member Join Date: Dec 2008 Posts: 119 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Modification rejected so hired lawyer LHarveyMadman, Thank you for your very informative and coherent feedback. A modification of my loan to: 1^st loan: 4% for 30 years (principal and interest) 2^nd loan: 5% for 30 years (principal and interest) will bring my net cash flow of 170 a month. I am very confident that with these terms, my husband and I will be able to maintain our payments. Our income is also expected to increase once I graduate this coming May. My husband and I have maintained excellent credit rating currently above 760 all these years. It will be a shame to loose our good credit rating only because we could not refinance due to lack of equity in our home. I will be revising my letter to Countrywide taking into account all your suggestions. Thank you so much for taking the time to respond.