Loan Modification Forum - LoanSafe.org - View Single Post - countrywide modification on already fixed loan

mthomas · 04-12-2009, 01:52 PM

I have been working with Acorn. Here is what CW said after 5 months.

One loan for 330k , new balance is $342k amortized over 30 years again.

1st year - 4.25%,
2nd year 5.25%,
3rd year 6.25% (same as now).

Does any one know if CW would offer a better deal if I said no.

Honestly, I can afford the payemnts at 4.25% ($1660). However, I wish $1660 would stay this for remaining years.

I want to keep the house, and don't want them to start the forclousre process if I rejected the offer. any advise.

04-12-2009, 01:52 PM	#7 (permalink)
mthomas Member Join Date: Dec 2008 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: countrywide modification on already fixed loan I have been working with Acorn. Here is what CW said after 5 months. One loan for 330k , new balance is $342k amortized over 30 years again. 1st year - 4.25%, 2nd year 5.25%, 3rd year 6.25% (same as now). Does any one know if CW would offer a better deal if I said no. Honestly, I can afford the payemnts at 4.25% ($1660). However, I wish $1660 would stay this for remaining years. I want to keep the house, and don't want them to start the forclousre process if I rejected the offer. any advise.