Has anyone had an experience with doing a modification successfully with Penny Mac?
My loan was just transferred/bought by them from my other crappy service provider, MoreEquity.
And of course my loan is not Fannie or Freddie, but I still sometimes questions that, but that is another discussion.
PennyMac says I make too much money, so I am considering withholding my mortgage payments to see what that will trigger and take the risk of hurting my credit. Essentially the idiots at customer service said that is really my only option.
I just don't know how long it will take for someone to call me and offer help and if I can even get help.
Its just unbelievable that I have to trash my credit to lower my interest rate of 8%!!!
Any insight to your experience would be helpful, thank you!!!
Also I am new to this forum, and I know my situation is not half as bad as most of the people in this situation, at least i still have a job at this point. Any help or insight would be appreciated.
I saw an article last night that said Penny Mac has not done any load modifications, just not sure if that is with the MHA plan or all together.