| Re: Time is running out with AHMSI
Great news! Just got approved for loan modification. Just recv'd paperwork yesterday & we sent it out today. We had adjustable rate which one time was about 11% but it did go down past year to almost 9%. We have fixed rate starting at 4% & after 4 years will be 6% fixed for the remaining of our loan. However, they didn't put it back for 30 years, kept same term for 22 years. Is that common? I did request on my hardship letter for 30 years, at least pymnt will be lower but not complaining to much cuz we saved our house. Our house was about go into auction on 5/9/09. They also paid all our back taxes & half of this year which they set up escrow account, which is good, don't have to worry how to pay taxes anymore & our pymnt is more reasonable, just will be nice if could be a little lower to have more breathing room. Thanks for your support. Keep up with your great work! |