We got a call from SPS today, telling us we would receive a new mortgage-contract because we "wouldn't be approved for HAMP".
Are you kiddin' me? Half a year after our approval and making modified payments? AND although we have a written and undersigned (by the lender) agreement (see my sig)?
They told us they made "mistakes" during the process and that would entitle them to void the current agreement. I share a different POV, especially with a loan signed by both parties.
They told us we would "basically" get a similar offer but I can already tell you that if it's only a tiny little bit worse than the current deal, we won't accept it. And I do believe we are in the driver's seat now.
This is a country where written contracts have a value, right? If not...well, everybody who already received a HAMP should be very worried...