| Don't be surprised!!!!
Just realized something., which I assume pertains to almost everyone in here.
1) As this trial program drags on and on, my payments are just sitting there at chase and are not considered mortgage interest. Since my I/O loan payment is about $4k a month, over the last 6 months I have not accrued $24K in mortgage interest, which means I will bve paying the old IRS a nice chunk next year.
2) If I don't get the mod, then I will owe the back mortgage debt (which I can;t pay), will go back to the old payment (which I can't pay), then get probably a $5-6k extra tax debt owed to the IRS.
3) To top it off, they have been reporting me as late (which they shouldn't be, so I am now fighting an additional battle with Chase), which has destroyed my credit, which has led to jacked up CC rates. To rub salt in the wound, my wife's car lease is up in January, so now I get to go car (clunker) shopping and look forward to a nice competitive rate of 14-20% if I even get approved at all.
Where is the government debt relief program?
Give us access to the current mortgage rates
Give us access to competitive auto rates
Give us access to being able to consolidate our credit cards. I can;t get a debt consolidation loan because they either want a home equity line (which we all have used up), or a personal loan which is based on credit history and usually has a small limit.
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