AHMSI Loan modificaiton with a ballon payment

[renocampbells]

I'm not sure if this is a good thing or not? Current balance $317K. Agreement offers lower monthly payment but a huge balloon payment at the end of the maturity date. New pricipal balance of $267K, that will be amortized over a period that will extend 240 months beyond the maturity date. (THIS IS WHAT I AM CONFUSED ON!!) Deferment amount of $50k that will not accrue interest and will not be amortized. Total balloon payment of $223K which consists of the portioin of the Amortizing amount that remains unpaid on the maturity date plus the deferment amount.

[car67]

Please try to explain a little better

Whats old payment?
Whats proposed current new payment?
When is balloon payment due what year?
How long do you plan on keeping the property?
How much does rent for a comparable property in the area run?
thanks