[dos81]

Like Calli09, I too experienced the same phone call as I spoke to Chase analyst today. I am in 30-yr. 6.25% fixed loan and have not been late on my payments. They told me that I would have to do forebearance and beasically not pay for 3 months while they work on my mod. As I have good credit standing, I am leary about taking the hit on my credit. I think that MollyM has good points indeed. If all Fannie Mae is doing is just stretching out the loan to 40 years with a slightly lower interest rate, doesn't that just cost the borrower more money through the long-term because they will be paying more interest. It appears that the banks have found a way to write even better loans for themselves at the expense of the struggling homeowners. Am I off base here?