Every time I call the customer service number I get the same recording that my loan might be a candidate for Loan Modification. When I tried to do it I was turned down be cause they say I make too much money.
Only problem is they are saying that I make almost $500 per month more than I really do. When I talk to customer service they just say that they can't do anything because it was the underwriter that came up with the amount. Then when I refer them to my Leave and earnings statement and look at the gross amount of my income per month the also concurr with me that the two number are different.
They then tell me that they are going to have an underwriter contact me. I never have had any one contact me, and I have been told this three times.
It seems to me that they are trying to avoid at all cost any loan modifications, and would rather see loans go to foreclosure. I don't see any desire to help people survive this crisis.
My loan is a interest only loan and is not owned by the Fanny Mae or Freddie Mac. The loan to value of my house is such that no one will refinance my loan right now (i.E. My loan is about 111% loan to value).
I would also like to understand why an underwriter could figure that I make $500 more a month, than my leave and earnings statement that already shows my gross income. I don't receive any bonuses because I work for the federal government. Plus my income is now frozen for the next 2 years.