The 411

This is my random life. The good, the bad, and the ugly. There is no real purpose other then to share. So glad to have you on board for the ride, got your seat belt on??!

Wednesday, July 7, 2010

For the foreclosure record...

Just to clear the air...

We were featured in a local news segment that focused on the home modification programs and the lenders unwillingness to cooperate. Unfortunately most of the people that the reporter was featuring are in forclosure process, which we are not. My issue is that the program does not work the way that they say it will. I submitted the application for the loan modification in March after leaving my job, hoping that in case we got in trouble with making ends meet, we would be prepared and so would the mortgage company. It is now July and we are still in the process of the loan mod app. Not in danger of foreclosure at all, and I really wish that we could have been represented in that way. Sure I wanted to see if we could get a smaller monthly rate, but we will not be out on the street should that not happen. The part that she left out of the interview. Oh well, that's local journalism for you.

So there, straight from the horses mouth.


  1. Journalism in general is tricky - I'm skeptical about a lot of what I read - it usually only offers part of the truth...

    Love the new layout! And thanks so much for adding me to your blog roll!!

  2. I've really been thinking about trying to get a loan mod. We own our own business and didn't work for six months last year and this year has been "ok" but no where near great. Our house payments are 3998! It's killing me. And I found out that when we submitted our app for the mortgage, the broker submitted "stated income" docs instead of financial docs, that way we got a higher rate! My fault, I didn't read all 3,896,864 pages of fine print. Our rate now is over 2x the rate now.....presumably because we were self employed. Guess I learned a lot. The brokers have now been brought up on fraud charges.

  3. Yikes! I cannot help but think that the system is designed to be confusing and impossible. It really is an injustice and its sad. Either way the homeowner is always screwed.

    Thanks for sharing!

  4. Unrelated but did u ever see this

  5. Thanks for sharing the link with me. I have visited her blog recently, but had not seen the vlog.



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