Hello, I am new here. I wanted to share my story as an encouragement to those that are currently going thru the loan modification process.
We became late on our mortgage in Aug. I sent in my w2's hardship letter, bankstatements, etc. to them and they recieved it. I didn't get a call back from a lady who said she would call me on Halloween, but instead she went on VACATION. I was very peeved. She was not helpful at all. Never picked up her phone either....
Fast forward one week later my I got a phone call saying that my docs was forwarded to a gentleman. He will be taking care of it from here on out. I must say he is wonderful and the best thing ever that happen to AHMSI LOL.
We were constantly in touch with eachother. He always picked up the phones when I called. He was just very good over all. He told me that I would hear back at the end of the month. He asked that I make a payment to my first mortgage only $1000.00. I said Oh no problem! I asked him if I needed to make anymore payments here on out while in Loan Mod. process he said no. I said what is the likelyhood of it getting approve he said that it will get approve otherwise we wouldn't have gotten this far. I said true and thanked him.
By the end of the month I still have not heard back he gave me a call and said about 2 more weeks. Ok, no biggie! Fast Forward, 2 weeks later. Dec 15 I got a called. He said it had been approved! He said that the 2 payments I was behind would be put to the back of my loan. I thought oh wow great news. I thought ok that is it then huh. He said nope there's more!.
He told me that I do not need to make a payment till february! woohoo! He said that my first loan rate has been adjust for the first year to 4.0%, second year 4.5. third year 5.0 and fourth year 5.5 and it will stay at that. It will be fix principle and interest only. I could not breath I tell you. I was so ecstatic!
He then continue to tell me that my rate after 5.5 will stay that way forever and will not change unless I decide to refi! My oh My what great news. Our payment has been cust almost in half our interest rate was 7.625
After 3 years living in this house and the hardhsip we have faced God has really heard our prayers and have been on our side every step of the way. There is no way I can repay him back! This is just one of the many answer prayers I have recieved this month.
This loan modification process is to show you that it can be done. it is possible don't lose hope. I did all the paper work myself with noones help whosoever. It was by the grace of GOD it got approved.
Please be encourage. Hang in there everyone.
BTW, happy early bday present for me. This is the best present byfar!
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