I was denied modification while on workman compensation

[misterb66]

In April of 2006 i somehow managed to get a home loan . In short I have bad credit ..the loan was for 148,000 & i financed 133,000 at 8.4 % Adjustable in 2 years. I figured i would fix my credit score & before the interest went up ..i would refinance. Well in March of 2007 i was badly injured at work & went on workmen compensation. We were barley able to keep up with mortgage & the utilities etc. I have tried talked an endless amount of times with Option one & now American Home Mortgage Services & all they tell me is that they do not count Workmen Compensation as income to be able re-do or modify my loan. I have supplied them with all the information they requested & still The only choice they gave me was to pay the amount i was behind & as well as keeping current or they would spread the amount behind over a 6 - 8 month period which would make my payment somewhere around 1400 a month ..there was no way i could afford this. Also they would not allow me to do the "Second Chance" thing where they just take the amount behind & put on the end of the loan...& keep you in your house as long as you stay current. In short i feel there has to be some hope for my family > I feel like im going to get slammed with 133,000 + debt that i can never re-pay. All because Option One / American Home Mortgage would not work with me just because I was on Workmans Comp. This is wrong ! What now ?

B

[schwefls]

Hi misterb66 welcome to our forum:

I wanted to top in say hello and assure you, you are not alone. Shortly someone will be reaching out to you with some sound advice/suggestions. In the interim please hang in there and know that we are here for you.