Indymac 2nd time around for Loan Mod

[Cali5]

Does anyone know if I can apply again for loan mod? I was approved in September 08. I wasn't happy with my payment but I still accepted it. I am paying $2830 at 3.8% for 5 years. This is still not affordable to us but have been trying to pay. I contacted Indymac and was told I'm not qualified for loan mod 2nd time around since we aren't late. Do we have to be late again to qualify for loan mod? But if I become late again, I wonder if I will break my agreement with them for my 1st loan mod. I was also told to wait for Obama's plan to make mortgages affordable.

[Moe Bedard]

The announcement and contact info to get started can be found here....

https://www.indymachls.com/auto/Affo...cement_LP.html

The guidelines state:

Borrowers who are delinquent on the mortgage for their primary residence and borrowers who, due to a loss of income or increase in expenses, are struggling to keep their payments current may be eligible for a loan modification.

[Cali5]

You are wonderful and godsend! Thanks

[Moe Bedard]

Here is the link to the payment estimator and the FAQs about the program so that you can check your eligibility there..........

Making Home Affordable - Payment Reduction Estimator

[Cali5]

I wonder what are my chances for reapplying for loan mod. I am now 60 days late. And due to the California budget cuts, my hours at work are cut or lessened. The Financial analysis area on the Indymac/One West website where I update my income and expenses is no longer there. I am getting ready to fax my application. I emailed my original contact John Olinski and surprisingly he emailed me back. He will have someone call me tomorrow. I am so nervous. I hope I get approved. We would really love to be able to afford the house. But paying $3k a month isn't affordable. And the house is now $180K underwater. Anyone out there going throught the same thing?