In July I completed my 3rd trial payment for my in house mod with Chase. After a year and a half I can say it is finally over. Let me just say that we were not underwater but that we had incrued a large amount of bills due to medical issues. My husband and I are both fortunate to have steady stable jobs but just could no longer make ends meet and would do anything to save our home (we have 2 small children).
With that being said......all chase did was extend our mortgage from the 11years we had left to 40years, thats the "kind of" part. Our monthly payment went from $2467 including our insurance & taxes to $1656.32. They did not forgive anything or lower our interest rate. BUT at this new payment we were able to save and will still be able to save to pay off our debt. Hopefully in about a year or so we will be able to refinance with a shorter term & lower interest rate.
Please remember persistence does pay off !!! We were denied for hamp & in house mod first time around !! i found this site while we were going through the process the second time and it has been a wealth of information and support !!!
Good luck to all !!!!!