2nd mortage mod package recieved today!!

[givemeabreak]

I just got my 2nd mortgage mod pkg. sent via regular mail today. My second is with Sovereign Bank and I did this on my own by following Moe's advice here on loansafe.. Thanks MOE!! I submitted my paperwork on 09/24/09. I am still waiting for my 1 st mortgage restructure with Wilshire submitted on the same week by NACA.

Present 2nd loan originated May 2005 (along with my first) terms = 12.00 % 15 year fixed rate with a 97,000 balloon. 951.45/ month. I was 2months behind on both my mortgages.

Modification terms = 5.99% 101,000 fixed rate in "240 equal consecutive monthly payments of 742.02 each, the first payment being due on Nov. 30, 2009 and each succeeding payment being due on the same date on each following month until the balance due on the note is paid in full"
I now have a 20 year fixed rate loan with no balloon!! saving 229.00 month.

Now I wait action on my first.. I had a medical hardship that involved my son's permanent condition . I hope this is a good sign for my first too. Thanks again to loansafe without this site I would have been clueless where to turn.

[Evan Bedard]

Congratulations on the loan modification givemeabreak!