Loan Modification Forum - LoanSafe.org - View Single Post

sarge · 06-18-2009, 07:38 AM

Panther,

My mod was from an interest only loan to a fixed. They lowered the interest rate added an insurance policy required here in a coastal county of NC(wind and hail) to the escrow and my payment went up minimally. I look at what it saved me though as my payment was set to go up $500 in 2013 and it will save me $120k over the life of the loan.

06-18-2009, 07:38 AM	#5 (permalink)
sarge Senior Member Join Date: Mar 2009 Location: Coastal NC Posts: 307 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification not what I expected Panther, My mod was from an interest only loan to a fixed. They lowered the interest rate added an insurance policy required here in a coastal county of NC(wind and hail) to the escrow and my payment went up minimally. I look at what it saved me though as my payment was set to go up $500 in 2013 and it will save me $120k over the life of the loan.