I just received my letter telling me that my loan modification request had been denied. I called every two weeks just as they had asked. I paid higher than my regular payments to get caught up in the amounts they requested. They were all on time. Now I get this letter saying the modification was denied. It also says "There may be other alternatives that will assist you BUT are CONTINGENT UPON AGENCY INVESTOR APPROVAL. They are, but may not be limited to:
Pre-Foreclosure Sale: REQUIRES the sale of your home in order to satisfy the mortgage/deed of trust
Deed In Lieu of Foreclosure: The voluntary transfer of the interest in your property to the mortgage investor.
That's real big of them after I've already paid the three extra large payments for them to not do the deal now. I would just as soon lose the house and not have to deal with them anymore. My advice Don't use them if you're planning on financing a home.
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