I was told by a real estate agent that HAMP 2 is a "sure thing". I have been desperately seeking a home loan modification for 14 months. I reapplied in February 2012. After jumping through the myriad of hoops they put you through, they sent me five letters. One that we can't help you because you don't live there. I made it abundantly clear that this is my primary residence. Another letter said that I can afford to make the outrageous mortage payments, still another that I don't make enough to qualify, another asking for documents that I already provided - and are current, another that they received all documents - nothing else is needed. In the end, they said, we're gonna just let you flounder in the water and drown.
So now I'm up the creek and need to know what to do if I have to default on the mortgage. Do I continue to pay my other creditors? What if they turn around and foreclose, what do I do then? I vaguely heard about bankrupcy; I'd like to find the ins and outs of what might happen and how to deal with it without reading 200 pages of rules, regulations or going to 20 different websites and trying to wade through this nightmare. I wish I had time for it, but I don't.