Taking Action to Get a Loan Modification

Day 406 of My Financial Freedom Countdown

As I was saying yesterday, we were declined for a loan modification for the second time or third time depending who you talk to. The bank says third time, I say second time, but who's counting? We were declined again anyway. We were told that we made too much money on one hand and had too much debt on the other. So, basically we are pretty much done and that there was nothing else they could do for us.We aren't even to the point of pre-foreclosure, but still no loan mod, and we still have time to work on making this happen.

So, after we receive this great news, my wife decides to call the office of the president of the mortgage division and what do you know. First thing in the morning both of us received calls and emails from a lead loan modification negotiator. She reviewed the file with us and explained the situation with our debt, which was discussed the last time we were put back in for review and they are showing credit card payments totalling $2,600 that are not actual charges, but are really items that were charged off. We were told that the original negotiator had deducted those charges, but that something happened in the end because they were still being charged in our debt totals. We were told that they would get back to us about these credit cards reflecting and what would be done about it.

I am expecting a call tomorrow to see what can be done about the those two charges, but getting those two credit cards removed from our debt will be probably be just we need to get this loan modification done. We are not going down without a fight that is for sure.

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