Loan Modification Forum - LoanSafe.org - View Single Post - Behind in payments, seeking Loan Modification

Jim B. · 02-18-2009, 04:49 PM

Am I wrong in thinking that the new program the President is rolling out will benefit my predicament? I have had a loan mod before, however I now qualify for another loan mod with Bank of America's program they rolled out at the 1st of this year. I am going on 2 months behind in my house payment and one month behind on my Home equity Loan. With about
100K loss in equity over the last year, I want to see if the President's new program will allow C/W to reduce my principal and interest rate, allowing a more affordable payment. I can wait if the new Housing Stimulus will get me closer to my goal.

Anyone??

02-18-2009, 04:49 PM	#34 (permalink)
Jim B. Senior Member Join Date: May 2008 Posts: 34 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Equity Deficit, What Now? Am I wrong in thinking that the new program the President is rolling out will benefit my predicament? I have had a loan mod before, however I now qualify for another loan mod with Bank of America's program they rolled out at the 1st of this year. I am going on 2 months behind in my house payment and one month behind on my Home equity Loan. With about 100K loss in equity over the last year, I want to see if the President's new program will allow C/W to reduce my principal and interest rate, allowing a more affordable payment. I can wait if the new Housing Stimulus will get me closer to my goal. Anyone??