Loan Modification Forum - LoanSafe.org - View Single Post

pbharris4 · 06-11-2009, 02:58 PM

We had a sub prime then they modified us in late 2007 or early 2008 into a 5 yr ARM. (Payments went up $800/mo!) Nothing like refinancing from one bad loan to another. (DH had lost his job and took a paycut) When we sent paperwork in late 2008 they said we didn't qualify because they already modified. Then March rolled around and they called us saying we now qualified and next day FedEx delivered the packet. Been waiting since.

Personally, I think they were waiting until we missed a payment to do anything.

That's interesting about you including it in the BK and haven't paid and they haven't foreclosed on you. It's so confusing to me. So I wonder if I include it in the BK if we have to surrender the house? Couldn't we live in it until they modify the loan? If they do not modify the loan then we could walk away from it and not be liable for any monies? We haven't personally met the lawyer..we've talked to him and his paralegal several times and they are super busy. All our paperwork is ready to go in case of an emergency filing..as of now we are waiting. He'll meet with us right before we actually file.

06-11-2009, 02:58 PM	#64 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 101 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WaMu/Chase Mod Moving Forward We had a sub prime then they modified us in late 2007 or early 2008 into a 5 yr ARM. (Payments went up $800/mo!) Nothing like refinancing from one bad loan to another. (DH had lost his job and took a paycut) When we sent paperwork in late 2008 they said we didn't qualify because they already modified. Then March rolled around and they called us saying we now qualified and next day FedEx delivered the packet. Been waiting since. Personally, I think they were waiting until we missed a payment to do anything. That's interesting about you including it in the BK and haven't paid and they haven't foreclosed on you. It's so confusing to me. So I wonder if I include it in the BK if we have to surrender the house? Couldn't we live in it until they modify the loan? If they do not modify the loan then we could walk away from it and not be liable for any monies? We haven't personally met the lawyer..we've talked to him and his paralegal several times and they are super busy. All our paperwork is ready to go in case of an emergency filing..as of now we are waiting. He'll meet with us right before we actually file.