So I just signed my loan modification docs! Yahoo! Thanks to everyone that helped! Now that my first has been modified will they automatically contact me about modifying my second (both are with Chase)? The terms of my first modification are:.
Extend my term to 2045 was 2037
Interest rate stays 6.75%
Principle forbearance of 91,000 that will be forgiven in increments over 3 years. Our principle will be 379,000 (was 469,000).
Payments lowered by 1000/month
We owe 38,000 on our second also with Chase. Interest rate at 8% and we have 10 more years to pay.
Anyone have experience with Chase modifying both mortgages? What were the terms? Did they contact you?
Ive read through the thread on here about getting your 2nd modified but I'm current on my payments and don't want to have to stop paying to get noticed. I was always current on my first as well. Also I was told my first modification would be voided if I missed any payments...does this include not paying on my second mortgage?