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.
Sorry to hear that! They sure don't make it easy for people trying to do the right thing do they?
ReplyDeleteThe update brings much hope
ReplyDelete