I have a question as I am trying to research this one and need help I am comming up with nothing!
I am going through a HAMP mod trial payment I recived an offical HAMP trial package I returned it last week. Our income is now 3400 including my unemployement so my trial payment is 1054.12 this is P.I.T. vs 1553 P.I.T. My current APR rate is 9.5% so I calculated my trial rate to be 5.5% this is welcome news. Now I hear that after 5 years they add on another 1% till you CAP at Year 10. wondering what that CAP rate is I sure hope it is not 10.5%
Also I have 132 in HOA fees I am also hearing some count it some dont.