What is Mortgages and Foreclosures
This community is for concerns, problems, and challenges relating to mortgages and foreclosures. The significant downturn in the housing market, including the widespread drop in ho...
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banks taking there time.
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We started having trouble at the begining of the year. we called them and ask to take part in a plan to help us stay in the house. the 1st time thet said it would be 30 -45 days. they turned us down because they had our income wrong. they said it would be anothe 30 -45 days. last week a fed ex came with the deal.
They lowered or payment to 760.00 a month from $1,200. We will pay 760.00 for 5 years then it will go up 1% a year not more than 5.5%. We worked with our bank and when they sent paper work it got done right away. The program is for people with fannnie may mortgages. it kinda a interest only for 5 years but it will let us stay and see what the future brings. Work it out with your bank tell them you want to loo into the fannie mae program it make sence to keep yoou in the house then for them to take the loss on a forcloser. mike Posted on 08/20/09, 11:08 am |
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