[Moe Bedard]

Unfortunately a partial claim can not be used along with a modification............if you already have a partial claim in place..........that may be why you would be required to pay 12 months before applying for a modification.

The terms of a Partial Claim are not bad terms...........these promissory notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.


FHA has limited modification options..........so the partial claim option that you were offered would have been the only option at that time, so turning that down would have put the property in foreclosure.........the programs for FHA loans are not the same as the modification programs being offered on conventional FannieMae/FreddieMac loans.


Go to the counseling session to see what options there are at this time......


For an FHA-insured loan:

Your lender has to follow FHA servicing guidelines and regulations for FHA-insured loans. If your lender is not cooperative, contact FHA's National Servicing Center toll free at 1 (888) 297-8685.