Re: Bank hints that modified loan will increase monthly payment!
First Franklin are one of the more stubborn banks I deal with (Saxon mortgage is the king of stubborn). It should be a forbearance plan but they should have sent you a detailed explanation and breakdown before starting the forbearance. The only reason why they do that is to show the investor that you can make monthly payments. As far as your job situation, remember that your target monthly surplus is around $450 a month. Just do what you can to stay the course until the payment plan is worked out. Once that is complete they will modify you. After you know what your new payment is going to be then you can make a better decision in regards to your job situation
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