Posted on: 12th Feb, 2010 10:39 pm
Approved for the Obama home modification plan through lender. Recieved papers from SPS on Jan 29, 2010. Enclosed letter stated return by Jan 30, 2010. I read the document refused to sign. SPS wanted another 300,000 for this property of which I have lived in for 22 years, 18 years with SPS. Since I refused to sign, lender has offered me a short refi price of $70,000. have stable income. will this be hard to do? poor credit score, no time to fix it. Where do I look?
it's going to be difficult to refinance with a poor credit score, leaving you no other option except to accept the modification presented by sps.
i don't understand what you mean by "sps wanted another $300,000 for this property". didn't you enter an agreement with them prior to them sending you the paperwork on jan 29?
sps doesn't care that you've been with them for 18 years. they only care about you making your monthly mortgage obligation on time for the entire duration of your note. it's a business relationship and they're not emotionally involved.
i don't understand what you mean by "sps wanted another $300,000 for this property". didn't you enter an agreement with them prior to them sending you the paperwork on jan 29?
sps doesn't care that you've been with them for 18 years. they only care about you making your monthly mortgage obligation on time for the entire duration of your note. it's a business relationship and they're not emotionally involved.