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Old 05-26-2010, 10:03 AM
 
305 posts, read 473,174 times
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Just curious on how many have had success with lessening their monthly mortgage payments because banks were willing to work with them while unemployed.
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Old 06-05-2010, 11:49 PM
 
Location: home state of Myrtle Beach!
6,915 posts, read 22,683,055 times
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anyone?
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Old 06-06-2010, 06:39 AM
 
305 posts, read 473,174 times
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Quote:
Originally Posted by myrc60 View Post
anyone?
I know there are plenty of articles regarding Bank of America lessening payments by the hundreds, which would be music to my ears. But has anyone had success w/their own bank. My guy at my bank, who I've known for 20 years won't return my phone calls. I guess I don't blame him in a sense. But lessening mortgages by hundreds of dollars would be key to a lot of people.

Also, I've also heard of people borrowing against themselves with their mortgages. For instance, if you've paid down your principle by 50K for instance, you can borrow against that to lessen payments. Not ideal I guess, but better than walking away from mortgage.
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Old 06-06-2010, 08:20 AM
 
Location: Metuchen, NJ (Woodbridge Township)
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I did. But it was a painful process.

After over a year of going back and forth with my mortgage company, many threatening foreclosure letters, me fighting back with going to the BBB, I was able to lower my mortgage payments by 300 a month.

It was complicated and like I said, PAINFUL!!!!
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Old 06-06-2010, 08:49 AM
 
305 posts, read 473,174 times
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Quote:
Originally Posted by WendyEF View Post
I did. But it was a painful process.

After over a year of going back and forth with my mortgage company, many threatening foreclosure letters, me fighting back with going to the BBB, I was able to lower my mortgage payments by 300 a month.

It was complicated and like I said, PAINFUL!!!!
Curious, did you start the mortgage over by scratch? Did you lower your APR from before?
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Old 06-06-2010, 09:12 AM
 
Location: Metuchen, NJ (Woodbridge Township)
516 posts, read 1,353,929 times
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Quote:
Originally Posted by Hiddeyho View Post
Curious, did you start the mortgage over by scratch? Did you lower your APR from before?
They lowered the interest rate and the default got pushed back into the loan.
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Old 06-09-2010, 05:20 PM
 
3 posts, read 5,409 times
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how many months were you behind on your payments before the bank finally helped you?
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