[snp304]

first off, love the forums, what a wealth of information. That being said, this is a very stessfull and confusing process that it looks like many are trying to go through. I have browsed many threads here and still have some questions...

I currently reside in Florida. Bought the house in Aug 07, did a streamline refi (VA loan) in Dec 07 due to the taxes being calculated wrong. Our payment was going to increase by about $300 a month. Have a 30 year fixed at 5.5%. Mortgage if for about 256k and house would probably appraise at about 190K right now.

I called my lender, GMAC, and inquired about the Hope For Homeowners program. I was given a # to call. When I called it was Hope Now. I went through the counseling process and it was recommended that the loan be modifed and to refi the house for 90% of current market value. Was told that Loss Mitigation dept of GMAC would contact me in 7-14 business days.

About 4 days later GMAC called. Was told that because I am current on my mortgage that they had no programs at the time to assist me. Was told to call back in mid February as they would have more options avaiable and may have a program that could help me at that time.

That is the story in a nutshell. I really don't know what next step I should take or if there is a next step for me to take. Any ideas/suggestions would be appreciated. I can provide more personal info if needed. Thanks in advance for any help...


Mike