Posted on: 12th May, 2010 08:22 am
i have been approved for the loan modification program with my bank, bank of america, when i applied for the program, i was current on my mortgage, however, currently i am 2 months behind and cannot catch up. i was unemployed for 6 months and now that i have a position, it pays less than the one i held. i have been trying to play catch up since last august. my current interest rate is 5.820, with late charges my past due balance is $3,404.40. is there any help out there to help me catch up on my loan? can i refinance without having to pay a lot of costs? please help. i want to keep my family in our home.
Welcome stbrown,
You have mentioned that you were approved for a mortgage modification program. It would have helped you in catching up your payments. If the lender has rejected your request, then you should once again apply for it. If the lender accepts loan modification and gives you a principle reduction, you would be able to become current on your mortgage dues.
You have mentioned that you were approved for a mortgage modification program. It would have helped you in catching up your payments. If the lender has rejected your request, then you should once again apply for it. If the lender accepts loan modification and gives you a principle reduction, you would be able to become current on your mortgage dues.