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Old 07-27-10, 04:16 PM
DanieH's Avatar
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Default Modified loan

Right now, I'd be happy w/ seeing a glare at the end of the tunnel. For 5 months now, Ive been working w/ the mortgage company to get our payments lowered since DH is on disability. I had to reapply since they closed it b/c they couldnt get a hold of anyone....whatever. Finally got a call from the counselor whos working on my case. Im SO hoping they modify our loan. Our interest rate is over 7%. Currently, its over 4%. Any back payments will get reworked into the loan. Yes, it sounds great! I really hope they go through w/ this. My concern is what happens when DH goes back to work, since he's due to go back in 2 wks? Its frustraing that while DH is on disabilty weve been struggling and now when/if we get approved, hes due to go back to work! A friend of his got him an interview and DH mentioned to him and the boss that hes on disability. The boss told him to as much time as he needs, youre hired. DH got his urine test and last weekend he took his toolbox out of the old place. Anyone know if they will contantly want documents to prove expenses from the mortgage company? Im afraid to ask them. They know its not permanent disability, so I would assume over time they would put it back where we have it? I really hope not. Im just hoping the new modified loan sticks and we can finally be caught up again!
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Old 07-28-10, 11:01 AM
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I'm not sure since it's not permanent but we have a friend that is disabled and single and he's been going through the same thing for months now and it looks like it's about to finally be permanent. I hope the same is true for you guys!
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Thank you savannah33!
DanieH (07-28-10)
 
Old 07-29-10, 01:17 PM
DanieH's Avatar
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Yay! We got approved to modify...out interest rate will be 4.5% and drops our payment to about $400 less. With DH getting this better job, we should be able to afford everything now...still little uneasy til it plays out, but at least the slate is wipe clean and everything is rolled back into the loan.
 
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Old 07-29-10, 01:22 PM
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Sounds good! Hope it all works out! We just refinanced our home loan to get a better rate and are saving about $100 per month. Every bit helps!
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Old 07-29-10, 01:40 PM
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Great news!
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Thank you savannah33!
DanieH (07-29-10)
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