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Colorado Moms Colorado Moms

Luck must be on my side...

Posted by on Jan. 9, 2013 at 12:40 AM
  • 11 Replies
Sorry its long!

I signed papers on my house when I was 20. It was maybe a week before my wedding. The loan was pushed through faster than usual because they knew we wanted to be in before we were married. I wish I would of taken more time and knew what I was doing. Turns out the mortgage broker would get people approved for houses that shouldn't of been and she wouldn't show up to the signing to explain things (which happened to me). Turned out my house had balloon payments and when dh got layed off our payments went up and I fell behind on the house. I have been trying for two years to get a modification for my home and I kept getting the run around. Last fall I went from having BAC to SPP lenders and I got a call yesterday saying that we were FINALLY approved for a modification! But I need to make a payment buy the 10th!! Luckily we went to h&r block and got the federal advance so I'm able to pull it off. I feel so blessed to be given a second chance. The payments are more affordable now and I am so excited to be able to have plans for the house again. When I took my Christmas tree down really thinking it was the last Christmas we would be here. Anyways, I'm so excited! The living room really needs new flooring and I'm not set on carpet. Can't wait to get our taxes (WHENEVER that will be!) So I can put some into my home :) Thanks for reading!
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by on Jan. 9, 2013 at 12:40 AM
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Replies (1-10):
flowerfunleah
by Leah on Jan. 9, 2013 at 1:05 AM

Ohhhh yeah, you gotta watch our for those out for lenders like that! 

What kind of modification are you getting? I hope it's a fixed rate! 

TristanMitchael
by Kristina on Jan. 9, 2013 at 1:12 AM
It's supposed to be a fixed rate and basically what I owe they will add back into the loan. Its like getting a fresh start, which is what I really needed. I have a "relationship manager" through SPS and they said they are not in the business of taking houses, they would rather help people stay in homes. So I have to make 3 payments on time before the modification is permanent but there is no way I'm going to let something like this slip through my hands!

Quoting flowerfunleah:

Ohhhh yeah, you gotta watch our for those out for lenders like that! 

What kind of modification are you getting? I hope it's a fixed rate! 

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flowerfunleah
by Leah on Jan. 9, 2013 at 1:13 AM

Good!!

now you know! no more balloon payments! 

Quoting TristanMitchael:

It's supposed to be a fixed rate and basically what I owe they will add back into the loan. Its like getting a fresh start, which is what I really needed. I have a "relationship manager" through SPS and they said they are not in the business of taking houses, they would rather help people stay in homes. So I have to make 3 payments on time before the modification is permanent but there is no way I'm going to let something like this slip through my hands!

Quoting flowerfunleah:

Ohhhh yeah, you gotta watch our for those out for lenders like that! 

What kind of modification are you getting? I hope it's a fixed rate! 


TristanMitchael
by Kristina on Jan. 9, 2013 at 1:18 AM
YESSSS! I'm so excited. I have let some things go because I really thought I was going to lose it. And this last week I was in a dark place because of it. Now I can start over. I woke up in such a positive mood this morning! .... until the coffee got spilt on Tristan's computer LOL.

Quoting flowerfunleah:

Good!!

now you know! no more balloon payments! 


Quoting TristanMitchael:

It's supposed to be a fixed rate and basically what I owe they will add back into the loan. Its like getting a fresh start, which is what I really needed. I have a "relationship manager" through SPS and they said they are not in the business of taking houses, they would rather help people stay in homes. So I have to make 3 payments on time before the modification is permanent but there is no way I'm going to let something like this slip through my hands!



Quoting flowerfunleah:

Ohhhh yeah, you gotta watch our for those out for lenders like that! 

What kind of modification are you getting? I hope it's a fixed rate! 


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sarahjz
by Sarah on Jan. 9, 2013 at 11:03 AM

Good for you!  So glad to hear it is working out for you.

Bradensmommy719
by Anji on Jan. 9, 2013 at 11:22 AM
Stay positive. I still truely believe a lot of people will have great things happen this year!
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countrygirlkat
by Kathleen on Jan. 9, 2013 at 12:15 PM

That is so wonderful to hear!!!!!  I know I have heard so many horror stories of things with mortgages and such and I have known so many people who have lost their homes or have had to short sell them.  It is so good to be hearing stories of how things are turning around.  It offers hope for sure!

heydooney
by Danielle on Jan. 9, 2013 at 1:41 PM

I just got a letter from our bank back in IL about "how to get out of delinquency" - well I caught up on payments now but hopefully some of the programs the letter is about will help us too. DH got laid off and was out of work for 18 months before he finally got a job across the country. We couldn't sell our house so we're still paying on it along with rent out here. We were surviving JUST because DH had so much overtime, and still paycheck to paycheck. Now he can't have ANY overtime so we are on our own little "fiscal cliff".

Virgo.Mama
by Brittney on Jan. 9, 2013 at 2:04 PM
So so so happy for you!
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TristanMitchael
by Kristina on Jan. 9, 2013 at 5:48 PM
There was this lady I worked with that was buying a house the same time I was from the same lenders. This lady is one of the nicest people you can meet and she has a mental handicap so they took full on advantage of her and she already lost her house. It's so sad. Last I seen the broker had to pay back like 79,000 is fees or something. It didn't seem fair.

Quoting countrygirlkat:

That is so wonderful to hear!!!!!  I know I have heard so many horror stories of things with mortgages and such and I have known so many people who have lost their homes or have had to short sell them.  It is so good to be hearing stories of how things are turning around.  It offers hope for sure!

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