Posted on: 28th Apr, 2010 10:08 am
i am trying to modify a loan to reduce payment amounts because of financial hardship. i applied with citi to modify my loan using the ham program in october 2009, after sending all trial payments and documents i am now being told that ham will not make any modifications to an a6 loan!, therefore not allowing the loan to be modified. i am looking for any clarification, i do have information from the texas occc, stating " a lender may modify a home equity loan by reducing its interest rate and changing the payment amounts and/or the number of monthly payments without going through all of the steps of a loan refinancing"
any help would be appreciated. thank you and god bless.
any help would be appreciated. thank you and god bless.
the rules say they must send you a letter stating exactly the reason for denial so you can dispute -- you have 31 days to dispute -- call HUD and they can create a conference call to help push for a workout --