Loan Modification Forum - LoanSafe.org - View Single Post - Is there still no one with a modification offer on the dec. 1???

Mickeyfickey · 01-13-2009, 04:47 PM

Hey Alikeith,

I got the 10 year step increase int. only mod offer also. It says that they will tack on deferred interest onto the principal. So basically you will be paying interest on the interest! Does not sound very good to me

After 10 years my principal would probably double...no thank you.

01-13-2009, 04:47 PM	#23 (permalink)
Mickeyfickey Senior Member Join Date: Jan 2009 Posts: 81 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Is there still no one with a modification offer on the dec. 1??? Hey Alikeith, I got the 10 year step increase int. only mod offer also. It says that they will tack on deferred interest onto the principal. So basically you will be paying interest on the interest! Does not sound very good to me After 10 years my principal would probably double...no thank you.