Mortgage Forum

Mike

I am in the last and the most difficult step for the loan mod. Our loan adjusted in Jan. from 6% to 9% which we simply can not afford. after attempting to refinance just to find out we owe way more then house is worth, we called ASC in Dec. just before it changed to see if we could do a loan mod. The loan neg worked with me and kept working with me till she was able to get me approved for a loan mod with a trial period of 4 payments. I just made my last payment on March 31, I made early since my due date was for the 15th of April. When I called to make my last payment I was under the impression I would talk to another loan neg. and I have not yet. The first person was of no help he bascially told me to wait for someone to call, he did not even tell me to send in my paper work. I had to fax all my worksheet, my letter, my husbands pay stubs and proof of my babysitting, it took 3 faxes and me overnighting it before they recieved this week April 14. I just called today and it is still under review, I am concern because right now it shows my may 15 payment with all the late charges and huge amount to pay in order to get up to date, I have asked several people and they all say do not worry about that amount to keep saving for the 6% payment. When I called today she said to keep calling every other day to check status and that I should recieve a letter before may 15. What should I do if I keep calling and still by may 15 they do not have an answer do I pay the 6% or what? I am not comfortable not paying anything. Should I have been given a loan neg yet assigned to my case? I just started today with my log and getting the name and id#, I wished I began it in the beginning. does it sound like I am on the right track. Before all of this, we were never late with a payment, always on time since we had the loan in 2004, right now we are showing we are behind a month becaus ef the whole process.