I applied for HAMP last year and 6 months later it was approved. That alone was a blessing and how God decided to move on our behalf. I had a wonderful, wonderful person at AHMSI. I know sounds weird huh? Like I said that was a blessing.
We are still current and we are doing well. However this year my second mortgage is back at 5 percent. The man that was working on my HAMP gave me a one year ordeal where my second mortgage will be at 2% so that I can catch up on my bills. It wasn't an in-house mod either, only temporary. So here it is, went back up and made my mortgage jump another 100.00 or so.
I called them and ask politely to see if I can get a in-house Mod and if they mind looking into that for me.
She put me on hold and came back and said yes. She is sending out the package. I will be filling out an in-house mod for the second mortgage, but what I am afraid of is that step rate. We can't refinance because we are under. Step rate will only put me back where I was... At least the hamp is for 5 years.
Any thoughts, ideas, suggestion? Should I even go through with it? I want a fixed rate for the life of the loan.
Thank you. Blessings. Think positive, keep at it, be personable, ask God for favor, don't be mean over the phone, and slowly it will pay off. That 6 month of waiting for my HAMP to be approved it changed my life and my outlook on life. It was one of those trials in my life that I will always remember.