Like most of the rest of the world I fall into the low income bracket.
Back in Aug I appled for a government/state program. I was accepted.
What the program would do is give the credit union $10,000 on the principal
of my loan. Then the credit union would have to match $10,000. So bascally
it would drop $20,000 from the principal, which would in turn drop my payments.
The credit union will not accept the program. They are sign up for it. (case by case)
Basically there are 3 programs. The other two programs just hand them money to
help the person out. They don't have to match the funds. They help caught up
the persons passed due loan payments. I am not accepts for these programs.
Just the one where they have to match funds. They didn't want to match them.
The head of the loan department even screamed and yelled at me over the phone when
he found out I was writing the board. I have always been nice to him.
The way I look at is...I owe several yrs on my home. Look at all the interest they will
make off my home in the yrs to come. If I had to let me home go back, they would never
sell it for what I owe. The house next door sold for $52,000 when the bank got it
back and the people owed $90,000. The house market is not good in michigan.
So pray that me writing the board will help me get the government loan. That the
board will consider it.
I wasn't getting anywhere but a run around with the 2 loan officer I had been dealing
with at the credit union. So I figure I don't have anything to lose by writing a 4 pages
letter.
I am just trying to get my payments lowered.
Thanks
Michelle
1|1|Just a question are you sure that the terms are that your payment will go down? I always understood that when you pay|teener|teenerzacsneenee@yahoo.com|12:34:38|10/18/2011|
extra principle all that does is shorten the length of your loan What ever th outcome I hope that it goes good for you 2|2|The loan officer told me that it would go down....|shelly0418|michelle0418@centurytel.net|14:31:38|10/18/2011|
It would go down about $100 per month. The loan officer acts
like $100 less was no big deal. It wouldn't make a diff.
But to me the $100 per month I would be saving would pay the
taxes and insurance. They are not included in my mortgage.
Michelle 3|3|hope it all works out for you !!!|lydzkydz|lydzmcss@yahoo.com|20:42:45|10/18/2011|
please include your user name on refundsweepers.
i appreciate all the trades made in the past.
THANKS!! 4|4|hoping they see the sense in it|BusterBrown|srfreezerqueen@hotmail.com|20:49:58|10/18/2011|
in nj, tons of foreclosed or bank owned homes.... 5|5|so mad...never hear back from the board...though they would atleast|shelly0418|michelle0418@centurytel.net|13:03:58|11/10/2011|
call me. Weather or not they were going to help me.
I am wondering if the board director even got the letter I
drop off.
The second in charge loan officer called me on the 27th of Oct.
She said she would look into it. See if he received it. Well
I have never heard back from her either.
So I robbed my change jar and mail it cert. mail this time.
Someone at the bank well have to sign for it. Maybe the
director will get it this time.
Just makes me so mad. The state has a program that would help
me, and my bank is not willing to help.
Michelle