When my fiance' was off going to be off work for 6 months for spinal surgery, we contacted Freedom mortgage since we knew we would be having problems making the mortgage payment. 2 years later, a loan modification finally went through. On the original papers, our payment was to be reduced to $1100, from $1400. The, our first statement showed a payment of $1300. This was due to a new escrow payment of $204 a month, which included mortgage insurace for $1000 a year. We have found insurance for as low as $247 per year. Now, after making the 1st payment of $1300, we have been informed that our escrow is negative and to bring it up our payment will now be $1450 per month. What? This is a modification??? Does anyone know what we can do, since our house is not even worth the $211 K the mortgage is for? Help!!!
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