I am pretty much pulling my hair out at this point to find myself in this dreaded situation and wondering how we got here yet again. I'm hoping someone can offer some advice.
We have a 30 year fixed rate 7.5% mortgage. We have had problems with paying it for almost the entire loan. We have been on several repayment plans which are really a joke because if you can't pay $1300 a month, how can you pay $1700.
We had a loan modification a couple of years ago and then last year we had a partial claim. We are now in the same boat again, 6 months behind on our mortgage, but have been in contact with them the entire time. We have been on a couple of payment plans for the past 6 months that we can't keep because the payments are so high. What hurts us the most is when we get two months behind, they will no longer accept a regular payment which gets us further and further behind.
The problem is, on paper it looks like we can afford the note, but we are not very good at budgeting apparantly because we always end up in this situation. My question is, would it be possible for us to get another loan modification or partial claim are do the lenders only allow one. It is a FHA loan. Thanks..........