Posted on: 09th Jul, 2010 02:34 pm
I need advice. I stopped paying my mortgage last year in Feb. I have made payments since then, but I am 28000.00 behind. I did a very stupid thing. I tried to do a modification, but i paid 3500.00 to do so. The guy ended up leaving me with no modification loan. My mortgage company says i don't qualify, but all i want to do is get to a fixed income instead of a adj one. I don't want to lose my house, but I don't have 28000.00 just sitting around either. My house is not worth what it once was thanks to the economy. Any advice?
Keep calling your lender and ask them why is it that you dont qualify? they need to give you more options. When your loan is modified, they add whatever you owe to the loan amount. Today they have the home affordable plan modification (2%) available and if you receive help from your family to pay your mortgage or you rent a couple of rooms you can count that income to qualify. Please do no stop fighting for your home, you need to be very aggressive with your lender and keep insisting. Most of the time the customer service people that answer the phone are very incompetent and if you don get the right person to answer your call you lose your home. It is sad but true. By law, they have to let you know about the options available. Please do give up.