Asked by Tommy, Palm Springs, CA • Sat Feb 28, 2009
8 months in arrears on 262,500 loan, payment 1532 a month. Stopped paying last July, .
December- called Indymac two different times, was told do not qualify for loan mod because I don't have a set income
Feb 1st called one more time and this time was told "oh I don't know why they told you that you don't qualify, I show that you do." Offered me loan modification "probationary period" of 3 months , would reduce my payment to 1348, not much. Also said they would pay my taxes, insurance, and flood insurance, would not give me details , basically just said it would all be tacked on to end of loan, proabably making it a 40 year loan Said they would send me financial packet outlining probationary period, which I still have not received. First new payment due 2/13, did not make paymnt..
They still have not filed any default with the county. Bottom line- I only really want to stay if I can get them down to 1050 or less on the monthly. Am I asking too much? What should I tell them?
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