I received a step loan mod in 2007 with ahms. Our income has since dropped, our payment has adjusted to 6 and now they are escrowing for insurance. Oh and my husband just had a heart Attack.
I came back to the site last week (after 3 yrs) and was very optimistic from recent posts. I have the paper work ready to submit... But I just noticed everyone is discussing ballon payment on the end of the mortgage. Is this consistent across the board? On my first modification there was no ballon.
I would love to hear from others regarding this ballon situation....
Thank you all!