Bookmark this site
Perez called his mortgage company, MVB Mortgage Corp., a Michigan-based firm, and asked if they could get a loan modification. Lowering the interest rate to the VA interest rate of less than 6 percent would allow him to make the payments, he said.
“I had understood that the president and Congress wanted mortgage firms to work with people so they could stay in their houses,” Perez said. “But the mortgage company doesn’t seem to want that at all.”
Perez said the firm’s representatives told him that because his family’s monthly expenses, including the mortgage payment, were exceeding net income, they wouldn’t work on a loan modification. He said they told him he needed to make at least $6,000 a month.
