Can we negotiate on Mortgage Modification?
October 18, 2013 4:56 PM Subscribe
Good news: after months of fun, our mortgage provider has presented a mortgage modification trial agreement. Bad news: the payments are just $150 less than they are on the original mortgage. Can we negotiate with them? Do we run the risk of losing even this concession?
posted by Kalatraz to work & money (7 answers total) 1 user marked this as a favorite
Unemployment is the pits, guys!! Okay, rant over. So I got laid off, last day of work was 12/31/2013. Had a really good job. Husband is still working, his job is not as good but okay enough. Our credit is solid finally. Have owned our house for like 5 years, unfortunately bought like a lot of people at the top of the market. It's a little underwater still, but getting better. Had never been late on a payment until I lost my job. We don't have kids.
Just not sure what to expect from this modification deal. Is it a "this is your offer, take it?" kind of deal?" FWIW, we'll probably have to sell if they can't do more and that'll mean short sale. It's close but we just can't quite swing everything on one salary, and I just got a no on the zillionth job interview. So, rambling. Any advice for folks that have been in this situation is greatly appreciated. TY.