I allegedly “qualified” to your And then make Family Affordable program, and you can our bank, Bank https://clickcashadvance.com/installment-loans-al/memphis/ off The usa, offered you a special, modified payment. I provided the called for files, etc, to our financial, and about what I’ve read everywhere, after you “qualify” and are generally with all this the new monthly payment, the one and only thing that you have to perform under control and come up with it a permanent arrangement is to try to improve (purportedly 3) demonstration money on time.
We now have not just made three punctually money, however, a total of 16 of those “trial” financing repayments. We constantly ask for status and are generally informed that individuals are “below review” and you can given the runaround.
However, back into your own question: One of the greatest treasures on the mortgage loan modification process is actually that residents are not protected a loan modification regardless of if it are accepted having a trial modification
Has just, we had been advised that we never “qualify” for a financial loan modification. We had been perhaps not given a description as to the reasons however, we had been advised we you will re-apply. We performed reapply therefore had been advised we didn’t meet the requirements, just like the we are able to most likely afford to make the “original” money.
Today the issue is he or she is saying that we owe $50,000, once we would be to are obligated to pay about 50 % of that, hence the actual only real option would be for us to acquire “current” to your our membership.