Mortgage Forum

Mike

Anyone had their past due "forgiven" to the back of the loan with ASC?I need help, I am still going through this...my lender ASC denied my first modification request. I have been four months past due when requested and still currently. When I submitted my information I had put that I had $300 extra a month as it looked like that is what was needed for "buffer" room. I never got to talk with the negotiator as I was never able to get her number after calls daily for like 6 months. I was sent a denial stating "my investor stated it was not in my best interest". They offered a short sale or lein prior to forclosure. I called and gave them the information and they put me on a repayment plan of which it showed I could not afford and advised it was my only option to try to get it each month, I actually showed negitive each month on what they gave me compaired to what I gave them. I then called back, as more expenses (gas, groceries, summer daycare) and they gave me till Sep 2009 but I still really can;t afford it. I gave them less than my bills so they would do a repayrment plan for me. Basically it amounts to I can afford the payment if it is reduced from my 10.5% to even a 9.5%, but not the past due tacked on. Do I send them this as an honest answer, with my financials? I am afraid if I do that they will opt to forclose and assume that I will not make these higher payments. Granted I can not afford to, but I am going month to month and trying to get another full or part time job just in case. Please let me know the best way to approch the financial worksheet. Do they have to have "buffer" room? If so any idea why I was denied??? Thanks, Anyone had their past due "forgiven" to the back of the loan with ASC?