Mortgage Forum

Joel Fraser

Ok.. im back.. about another property...this one is my mothers, which i also own.. i touched on this months ago .im goingto start the mod process with countrywide for her 1st mtg.. her rate right now is 4.5% P &I.. gotta try to keep that for another few years at least!!! SHE HAS NEVER EVER BEEN LaTE WITH THIS ONE .. now the dilemma.. she is a few months behind on her heloc... with etrade.. serviced by clc consumer services... im trying to make payments here and there but its not enough and its just interest on $90K!!!!Ive tried to talk to CLC and nothing , they said Etrade does not do any modifications..period.. and the rep im dealing with will not help me bc he said he has tried to reach out to us earlier a few time, which ive spoken to him several times..but if i dont have the money i dont have the money.. i treid to etrade today and it was no in their system, and they ended up transferring me to that rep! who hates me and is just not nice..both my credit and my moms is now horrible.. i was told we can try to get a principal reduction as well as modify the loan to P &I fixed rate .. there is equity in the home.. but if the payments go up she wont be able to afford it anyway... (etrade /clc wont do it anyway)so my question is ... how the heck do i get this resolved.. we cant refi.. credit is too damaged right now... and they wont work with us??? or should i try thru countrywide to refi everything???? hoping to keep the payment in the same range???what kind of letter can i send etrade/clc ?? funny thing i noticed that both loans were done thru eloan??? did anyone else use them?