Comments on: Well it’s finally over! We got our loan modified and fixed for the next 7 years http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/ Loan Modification & Home Loan News Fri, 20 Nov 2009 12:55:43 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Virginia & Sergio Piery http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-2684 Virginia & Sergio Piery Mon, 04 Feb 2008 09:24:55 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-2684 Our mortgage company will not work with us. They said that our mortgage is too new. 9% interest is far too high for us and the writers' strike has affected Sergio's work as a stage tech. He hasn't had much work since the onset of that strike. It's impossible to make our mortgage payment of over $4,000. per month. In order to keep this house, we would need a 40 year mortgage and lower interest. Virginia is a senior citizen but Sergio is not. We are not looking forward to moving. We came back in 2006 to CA from living in NJ for seven years. Life has been tough for us so far and we can't seem to get any help. Our mortgage company will not work with us. They said that our mortgage is too new. 9% interest is far too high for us and the writers’ strike has affected Sergio’s work as a stage tech. He hasn’t had much work since the onset of that strike. It’s impossible to make our mortgage payment of over $4,000. per month. In order to keep this house, we would need a 40 year mortgage and lower interest. Virginia is a senior citizen but Sergio is not. We are not looking forward to moving. We came back in 2006 to CA from living in NJ for seven years. Life has been tough for us so far and we can’t seem to get any help.

]]> By: Mortgage News Aggregator » House Panel Approves Banruptcy Bill That Would Allow Judges to … http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-2683 Mortgage News Aggregator » House Panel Approves Banruptcy Bill That Would Allow Judges to … Sun, 16 Dec 2007 16:29:11 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-2683 [...] Original post here [...] [...] Original post here [...]

]]> By: Stephen http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8463 Stephen Sat, 15 Dec 2007 19:12:36 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8463 That's great. But be on alert! The 7-year mark is the point at which they fabricate a foreclosure so they can turn over the property for a profit. They refinanced you because they can't sell the property for a profit at this time. Some income is better than none, so for the time being you're alright, but refi. away from them to a small local bank as soon as possible. See MSFraud.org for more information. That’s great. But be on alert! The 7-year mark is the point at which they fabricate a foreclosure so they can turn over the property for a profit. They refinanced you because they can’t sell the property for a profit at this time. Some income is better than none, so for the time being you’re alright, but refi. away from them to a small local bank as soon as possible. See MSFraud.org for more information.

]]> By: Moe http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8462 Moe Fri, 14 Dec 2007 20:14:25 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8462 You can find TxAngel in our forum where you can ask her questions. http://www.loansafe.org/forum/showthread.php?t=327 You can find TxAngel in our forum where you can ask her questions.

http://www.loansafe.org/forum/showthread.php?t=327

]]> By: Jon http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8461 Jon Fri, 14 Dec 2007 19:17:55 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8461 Tx, can you give the lender that is working out the Mod, a mention ? Tx, can you give the lender that is working out the Mod, a mention ?

]]> By: doner http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8460 doner Fri, 14 Dec 2007 04:20:30 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8460 Al, excellent question. I hope TxAngel can fill us in. Wiil this go back to an ARM in 7? Will you be amortizing your principal over 23 years, instead of 30? Did the mortgage company analyze that you can afford this bump in payments? Do you know what your new payment can be, worst case? Or, is it the same story, different day? Al, excellent question. I hope TxAngel can fill us in. Wiil this go back to an ARM in 7? Will you be amortizing your principal over 23 years, instead of 30? Did the mortgage company analyze that you can afford this bump in payments? Do you know what your new payment can be, worst case? Or, is it the same story, different day?

]]> By: Al http://loanworkout.org/2007/12/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8459 Al Fri, 14 Dec 2007 03:17:41 +0000 http://loanworkout.org/2007/12/13/well-its-finally-over-we-got-our-loan-modified-and-fixed-for-the-next-7-years/#comment-8459 Being new to this process, what then happens after the 7 year fixed? Being new to this process, what then happens after the 7 year fixed?

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