Has anyone out there gone through a "Loan Modification" through the Obama "Making Home Affordable Program"?

This program is through the Obama Making Home more affordable program. I recently submitted an application and received a letter saying that I needed to make three payments which were $200.00 more than my original payment. We are not currently delinquent in our payments either. The person I spoke too said that this was to make sure that we were committed to being on time with our payments and afterward we would be considered for a lower interest rate and payment. How can I make these higher payments when we are barely able to make the original payment. I thought this program was to help people; not make it more difficult.

4 months ago - 1 answers