THIS is what my status shows as updated. I'm really confused as to what it all means. a few questions i have are, is the new rate 2% for the life of loan? is the new payment 1907 a month? and is that without insurance? the home owners assoc shows 0 $ a month should be 220. Am i wrong or is the monthly payment only principal and interest? man, i'm not sure about this. i dont know if i can afford it. can someone try to make sense of this for me? thank you in advance.
Proposal Received from Servicer
Submitted Date: 05/06/09
Congratulations on becoming a NACA Member and participating in our Home Save Program. NACA is recognized as the largest and most effective program in achieving long-term affordable mortgage payments for many thousands of homeowners with an unaffordable mortgage. Stated below is the status of your file.
- We are pleased to provide you with a solution from your Sericer/Lender. We have not reviewed this proposal. Given the difficulties with some the Servicers the first proposals may not be acceptable. IThe proposed mortgage payment should be close to that requested through the NACA Submission which is shown below. Your solution from the Servicer should be the following:
- NACA Restructure - This is if you have stable income. The mortgage payment should be locked in for the existing term of the mortgage without any increase.
Provided below is the proposal from your Servicer. Please review. You have the option to accept, reject or request a follow-up from a NACA Negotiator. If the proposal is not acceptable, we will continue to advocate for your long-term affordable solution.
If there are signifcant changes with your Affordability Budget please make a phone counseling appointment with a NACA counselor to update your budget and make a revised submission to your Servicer.
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not sure what to do now. i mean, if i add home owners assoc and insurance it'll be close to 2500 a month....wow (actually MORE) 
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