baffled by the BS

[ridesnropes]

I'm having a tough time getting my head around all this forclosure stuff, I have people telling me that the government passed a law to allow modifications to all homeowners in pre forclosure or forclosure, the mortgage company is telling me reinstatment is the only option. I recieved a letter from the mortgage company saying that Fannie Mae has a modification program available if I qualify ( I don't understand the 38% requirement).
I was making my living on home pre-sale improvements or remodeling after the sale. Now my market has evaporated as well as my income and ability to pay my own mortgage.
I had my house on the market for 6 mos. with only one ridiculous offer.
The property was in forclosure with an auction sale date for 2/3/09. I was unable to come up with the 35% reinstatment down payment that was handed to me @ 5:30 PM on a Friday night 3 days prior to the sale. For some crazy reason the attorneys have postponed the sale for thirty days. I need to get educated and moving in the right direction fast. PLEASE HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!! ridesnropes

[Moe Bedard]

Who is the servicer?

[ridesnropes]

metlife formly first horizon

[Moe Bedard]

If the investor on the loan is FannieMae then they are most likely letting you know about the Streamlined Modification program.........ask them if you can apply for this program...............

here is the link for the info so you can see if you meet the initial criteria..............
http://www.fhfa.gov/webfiles/169/new...MENT111108.pdf