When I originally contacted my mortgage co. First Franklin, they continually encouraged me that everything was all right I was paid up even though I kept telling them I was having financial difficulties. Loss in wages for the year 2008. Then when I became 2 mos. Behind, they have this protocol, and as long as I paid one month of mortgage I would not be in breech of contract, their words exactly.
When I mailed the affidavit of my income and debts, I was given a phone appointment with the resolution team. Who at that time would go over my monthly obligations only to tell me that my debts were more that my income which I already knew. That is why I was behind in the first place. I am self employed in a service. Housecleaning, which in 2008 had a loss of 1,115.00. My mortgage being 1,789.00.
Now, they are telling me that I do not qualify for the modification because I need to generate 600.00 of income to prove that I could still pay the same mortgate payment. No modification of 8.75%, and 1,700 loan payment. Which is ludicrious, they have been bailed out to stay in business. But not allowing the money to trickle down to the consumer.
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