I am so glad that I have come upon this site. I am so glad that I am not the only one out there with this problem. Not that I feel any better, but just knowing that I am not alone, does help.
I have been in modification for 14 months now. I called them before any of this transpired and asked if I could get a payment deferred, I was advised that they did not do that. I have been with Chase for 8 yrs and I must say that I was NOT late on my payment not one single time. It is very hurtful that they could not work with me during this time when my other lendors, whom I had been late on just to make sure I got my house payment paid on time, would and did defer payments. How messed up is that? I was advised to stop making payments, so that Chase would work with me.
Now my credit is completely ruined, I have been turned down for modification one time, stating that my income was not enough to cover my dept....well you think? I have recently married since the purchase of my home 8 yrs ago, but my spouse has a mortgage too. The house is only in my name, but he can show that he can contribute to me each month, but we do not want to put that he can contribute a certain amount and it be too much and my payment is only reduced by a small amount or it be too small and I am denied again. Can anyone help with what the percentage, amount, etc....is advice?
We are both self employeed, so we never know what our monthly income is going to be, but we know on an average. My house is 41 years old and it is home to me and to my daughters ages 3, & 11. I do not want to loose my home, but cannot afford $1900 amonth with an interest rate of 7.5%. Which I am litterally only paying 1 payment a year and the rest is going to interest. Its sad....we know what we can afford with all of our bills and want our payment around $1000-$1200(at the most), but do not want to keep going through all of this process over and over again, as I have for the past 14 mos!! I can not sleep and it is killing me mentally & physically.
Any help would be greatly appreciated. I am so tired of feeling out that 4506T form, I could puke! I know I have faxed over 200 papers and had to pay my accountant to do P&Ls so many times, it is ridiculous and everyperson tells you something different! Im just ready for some peace & understanding....Im a good person, always paid my bills until this and I WANT my home!