I feel like an advertisement but I'm stoked about his and have to share. Nick and I found out today that we are initially qualified for (and in a trial period of) a loan modification. Our interest rate was dropped so that our home debt/income is 31%. It is saving us $435/month! We have a 3 month trial period, during which time we have to make our payments on time (which we never stopped doing), and probably send in documentation of the information I gave them over the phone. Then, this new interest rate will be fixed for 5 years. After 5 years, it will be fixed at whatever the rate is now (lower than the 6.75 we're currently at, she said something about 5 something).
It feels so good to have actually qualified for something. After all my woes about the government only helping people who are financially irresponsible and NOT making payments, there is finally a program that will work for me. Yeah Obama!!
For more information go to http://makinghomeaffordable.gov/
Subscribe to:
Post Comments (Atom)
2 comments:
That's so awesome. Maybe we can see if we qualify too.
Glad you guys got something worked out. I dont want to see anyone else move out of the ward!
Although, I wish they would do something for irresponsible people too. I made the irresponsible decision to start up a business after paying almost half a million for a house... and I am still waiting for them to "hand me" some sort of deal. I think you have to be SUPER SUPER DUPER irresponsible to get handouts. And if you are the opposite and Super Duper responsible you have to kick and scream to get what you are entitled to. So backwards sometimes.
Glad this worked out for you guys!
Post a Comment