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chazkeepahoma · 06-21-2009, 02:28 PM

Got my loan mod doc's for my HELOC last week and my 1st loan mod doc's this week. On my HELOC they offered to add my missed payments to the balance, no fees, and lower interest to prime + 0% (currently prime + 2.25%). On my 1st loan they offered to add my missed payments to the balance, no fees, lower interest to 3.875% first year, 4.875% 2nd year, and back to original 5.875% on 3rd year on a 40 year loan. This saves me about $500 yr. 1, $330 yr. 2, and about $165 thereafter. I am surprised they offered me a mod being unemployed. I'm also wondering if they get me to sign the doc's it reaffirms them after I filed BK 7 last year and owe nothing. Not to be greedy but I think I'm going to ask them to sharpen their pencil a bit. I'm not to fond of a 40 yr. loan. Has anyone had success with a counter offer?
Happy Fathers Day!

06-21-2009, 02:28 PM	#11 (permalink)
chazkeepahoma Senior Member Join Date: Jan 2009 Location: California Posts: 39 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New story. Don't know where to start. Got my loan mod doc's for my HELOC last week and my 1st loan mod doc's this week. On my HELOC they offered to add my missed payments to the balance, no fees, and lower interest to prime + 0% (currently prime + 2.25%). On my 1st loan they offered to add my missed payments to the balance, no fees, lower interest to 3.875% first year, 4.875% 2nd year, and back to original 5.875% on 3rd year on a 40 year loan. This saves me about $500 yr. 1, $330 yr. 2, and about $165 thereafter. I am surprised they offered me a mod being unemployed. I'm also wondering if they get me to sign the doc's it reaffirms them after I filed BK 7 last year and owe nothing. Not to be greedy but I think I'm going to ask them to sharpen their pencil a bit. I'm not to fond of a 40 yr. loan. Has anyone had success with a counter offer? Happy Fathers Day!