loan modification denied

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Cinderella
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Subject: loan modification denied

Sat Mar 13, 2010 11:26 am

I am at a loss as what to do Sad

Got denied for a loan modification due to low income. Earlier, this same company had put us on loan modification trial. But after that I lost my job. However, I have got a job recently and I am confused as to why they are denying us the modification.

Though I am into a job, it isn’t possible to do the regular monthly payments. In addition we will have to pay the back interest too. What can we do? My husband is without job Sad

Aaron

Joined: 08 Feb 2010
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Posts: 2675

48566 Magic Points

Subject: denied loan modification

Sat Mar 13, 2010 11:58 am

Hi Cinderella,

You can send a letter through certified mail, requesting a return receipt, requesting them to provide you with other payment options if possible. Request them to agree to a repayment plan.

You can also contact them over the phone and request them to connect you to a supervisor or manager of the company. Make him understand your situation. Perhaps that will work out. Mention that you are willing to pay. Another thing that you can do is enroll into Obama Mortgage plan.

Hope this helps.

Regards,

Aaron
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cinnamngrl

Joined: 01 Nov 2008
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Posts: 1455

6339 Magic Points

Sat Mar 13, 2010 1:08 pm

what bank is this
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