| AHMSI - second rate increase - need to readjust
Good Morning - the other day I was notified that my ARM would increase, so I tried to call then Option One (now AHMSI) to request a freeze on my interest rate (8.5%). No luck, all the numbers kept getting voicemail that would never be returned. Finally I got a person of Hindu descent who told my wife that our mortgage payments were too high (duh) and that we should move immediately. That was not the support we wanted to hear so I fired off a letter to Mr. Ross (new owner of AHMSI). I never figured that I would get a reply from his legal department but much to my surprise the head of the HPO told me to submit some documents and that they could surely help me. By that time, the mortgage rate had already increased and like the idiot I am, I did not answer the mail. That was the first increase, we are now on our second adjustment and that, combined with our first adjustment equal close to $1200.00. I can make the payments but it will burden us greatly, and when we finally hit our 14% adjustment, it will actually....well, we'll be long gone from the home before that happens. I did not reply because I thought it was fruitless to attempt since the adjustment had happened anyways.
Now (current adjustment), we have called a few times an spoken with AHMSI with positive results - Amy Jasmen is working with us to get either a freeze or a reduction in interest or some type of assistance. We will be discussing this today and hopefully we can get some decent plans on the table for discussion. I have sent all our paystubs in, I have sent in the bank statements, as well as the initial hardship letter. Hopefully, this story will have a equitable outcome - I know AHMSI would rather have some type of payment than no payment at all (I would like to think).
I'll update this after we have our discussions with Amy today.
Good site - thanks for the forum.
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