Posted on: 15th Sep, 2009 12:49 pm
Help! Have a 8.9% 5 year arm loan and a 13.1% loan on a 512K home. The payments are $5200.00 monthly. The loan is 65% of my total income. Tried three times to get it modified without ANY luck from the loan Services. Please advise? PS - Tried with no avail to see the house.
Hi lifegifts!
Welcome to forums!
Did the lender give you any reason as to why he cannot modify your loan? You can contact an attorney and let him deal with your lender. He may negotiate with the lender on your behalf in order to get a loan modification for you.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Did the lender give you any reason as to why he cannot modify your loan? You can contact an attorney and let him deal with your lender. He may negotiate with the lender on your behalf in order to get a loan modification for you.
Feel free to ask if you've further queries.
Sussane
Need to know more. What is your loan balance and how much is the home worth NOW?
i think that the high debt ratio is a severe drawback to getting your loan modified. as sussane noted, you should have been advised why they wouldn't do it.
