homeowner affordability stability plan - Loan Modification Forum

TRACYV · 07-27-2009, 01:48 PM

Has anyone had any experience with this option? I am currently in the "obama" plan, our interest rate is 9.7 and will only go down about 1 point under this plan, which only saves $265 a month, was looking for a lower interest rate to stay in home, which is also worth less than owed.

Moe Bedard · 07-27-2009, 02:51 PM

Maybe you need a non-profit to submit or look into this for you? You must make the case that you cant afford this new payment and you may want to look at your financials to make sure there were no mistakes.

9.7 is high and so is 8.7%. They must think that is what you can afford.

TRACYV · 07-27-2009, 03:32 PM

Thanks for response. I saw this information on Citi's website and didn't know if anyone had gotten in this plan.

07-27-2009, 01:48 PM	#1 (permalink)
TRACYV Member Join Date: May 2009 Posts: 27 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	homeowner affordability stability plan Has anyone had any experience with this option? I am currently in the "obama" plan, our interest rate is 9.7 and will only go down about 1 point under this plan, which only saves $265 a month, was looking for a lower interest rate to stay in home, which is also worth less than owed.

07-27-2009, 02:51 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: homeowner affordability stability plan Maybe you need a non-profit to submit or look into this for you? You must make the case that you cant afford this new payment and you may want to look at your financials to make sure there were no mistakes. 9.7 is high and so is 8.7%. They must think that is what you can afford. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

07-27-2009, 03:32 PM	#3 (permalink)
TRACYV Member Join Date: May 2009 Posts: 27 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: homeowner affordability stability plan Thanks for response. I saw this information on Citi's website and didn't know if anyone had gotten in this plan.

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