Posted on: 03rd Sep, 2009 11:10 am
Hi,
I wanted to know if I can maintain monthly payments at 6.5% for at least 3 years and longer, isn't that better than going for a loan modification? Currently, no late payments but hardship in a sense as I use my savings due to laid-off.
As I am optimistic in getting a new opportunity soon where I can keep up with the monthly payments for 3 years and longer. Based on the scenario above and what is being discussed on loan modification, I think I am not offsetting the difference.
I wanted to know if I can maintain monthly payments at 6.5% for at least 3 years and longer, isn't that better than going for a loan modification? Currently, no late payments but hardship in a sense as I use my savings due to laid-off.
As I am optimistic in getting a new opportunity soon where I can keep up with the monthly payments for 3 years and longer. Based on the scenario above and what is being discussed on loan modification, I think I am not offsetting the difference.
is this like that old cheer: 2 bits, 4 bits, 6 bits, a dollar?
if you can maintain payments, then there's no reason, i agree, to seek a modification. the modification is only a temporary fix (it appears), at least based on what others have testified.
if you can maintain payments, then there's no reason, i agree, to seek a modification. the modification is only a temporary fix (it appears), at least based on what others have testified.