A few weeks ago, we applied for Obama's Home Affordable Loan Modification. Well, last night we received a letter stating that we were denied the modification, or any other kind of financial help. What this means: we're going to try to sell our house or risk foreclosure.
**UPDATE**
Some good news: Bryan called the bank this morning. The reason we were declined is that they assumed Bryan was collecting $2,900 a month in unemployment benefits (wouldn't that be nice) which would put our mortgage-to-income ratio above 31%. Anyways, they are sending us some forms to fill out which will hopefully remedy the situation. There's still hope.
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2 comments:
Sorry to hear that! They sure don't make it easy for people trying to do the right thing do they?
The update brings much hope
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