We may have an answer!

[kymmer116]

I finally heard from our negotiator today, his name is Louis very nice polite and helpful with question's. He said we should have our answer by today (finger's crossed) He also said we should qualify for the Obama plan. As of right now our motrgage is 50% of my husbands take home. If it does go down to 2% and is only 31% of his income, we will be good. I hope this happens, I'll keep you posted.

Quick question to those that have been approved and are in the trial period, do you have a "grace" period before your first payment is due?? I have been seeing that and I wanted to find an answer.

[Evan Bedard]

Hi kymmer116,

I finally heard from our negotiator today, his name is Louis very nice polite and helpful with question's. He said we should have our answer by today (finger's crossed) He also said we should qualify for the Obama plan. As of right now our motrgage is 50% of my husbands take home. If it does go down to 2% and is only 31% of his income, we will be good. I hope this happens, I'll keep you posted.

Quick question to those that have been approved and are in the trial period, do you have a "grace" period before your first payment is due?? I have been seeing that and I wanted to find an answer.

They will usually give you at least a couple weeks before the first payment is due for the trial period..

[kymmer116]

OMG the waiting now is killing me! He said he'd have an anwser within the hour, that was 3 hour's ago. They also ran a credit report, I didn't think they did that with a loan modification????

[Evan Bedard]

OMG the waiting now is killing me! He said he'd have an anwser within the hour, that was 3 hour's ago. They also ran a credit report, I didn't think they did that with a loan modification????

Yes with all modifications they will run your credit. Your lender will want to see all of your outstanding debts when figuring the modification..