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Thank you ACA Group
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I was an LMPP client on a fixed income in a negative amortization loan. I sent in my packet and was declined because the bank said I did not have a hardship, and I had adequate reserves to pay my mortgage. I had actually been forced to retire to become a full time caretaker for my husband and the bank was looking at income figures from 9 months ago and refusing to reconsider. An NOD was filed against me in December. The letters and complaints were mailed on January 5th—on January 21 I received my modification
OLD Payment $2,315 plus escrow of $360 for total of $2,675
This was interest only payment
Equivalent Principal and interest payment total is $2915
MODIFIED PAYMENT
PITI $1837
Monthly savings $1078
This happened in 16 days.
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