my success with ahmsi

[jsoncb]

im in the same boat as most of you, bought a house for 375000 with a 3 year fixed rate at 5.05%. After the 3 years it became adjustable. I have been trying to refinance since last august with no success since i am upside down on my house. Finally my loan guy gave up and turned me over to his friend who does loan mods. The fee he charges in 3000 if he can get me a mod i approve of. Well it only took him a month and i got a loan mod of 2% the first year,3% the second year,4% the third year, and 5% for the remaining life of the loan which will be 23 years by that point. im pretty happy with the results. i guess i could have fought it out myself but after reading all the horror stories on this site, im just glad to have it done. Recieved a packet from UPS on friday with all the details. Just got to sign and return. The one draw back is ahmsi charged me two months of payments tacked on to my original loan of 375000 for july and august but i have never missed a payment ever. i do get to skip august but my july payment seems to have been a waste. I guess its a small price to pay for the relief of getting this thing taken care of after 10 months.

[Evan Bedard]

Hi jsoncb welcome and thank you for joining the forum.

Congratulations on your success with AHMSI you have achieved a great modification!

[LNLIBRA]

Hello Everyone: Well today I have received confirmation on my LOAN MOD. This is my second loan modification. I had one in December but then lost my job. I am ecstatic to say the least.
I am on the step interest rate program starting Sept. 1st. First year 2%, 2nd year 3%, 3rd year 4%, 4th year 5.20%. My payment has gone down 60%. Yes, there is deferred principal and a ballon payment but I do not care. We can now breath and live like normal people again. We love our house and want to stay here. We are $200,000 upside down but now we can re-establish good income and pay more on the principal as we increase our new salaries. THANK YOU THANK YOU for this web site. My mod was done through Jeanne Drake's office and I had an excellent negotiator. This is a GOOD DAY!!!!!!!!!!

[Evan Bedard]

Congratulations Libra!!!

[Moe Bedard]

Awesome!! Thanks for joining and sharing your success story and Libra, CONGRATULATIONS!

Thanks for saying thanks and I wish you the best!

[Hank123]

Congrats!!!!

I'm so glad it all worked out for you.

That's awesome news.

[dorim]

I'm new here just joined today. It is so encouraging to hear that there are success stories out there. I am also battling with American Home. I have a 48 year 9.25 ARM that started at about 6% and adjusted after 2 1/2 years. Terrible. We signed the refi to save my husband business ( HE was behind on rent)and with this economy his business is now closed. We are in bad shape but very hopeful.