[lisabedgood]

I just want to let people know there is hope out there. I had a loan modification approved Nov 08 changing my loan terms from an adjustable which was reaching 9% to fixed for 5 years at 6.9 %. My husband and I fell on harder times this year and I applied for another modification and got approved at a fixed at 3.375%. Bringing an original paymnet of almost $2700 down to $1400. The key to having a successful loan modification is to realize the ratios and be able to proove them to the investors of your loan. The magic number is 31% mortgage debt to income. If your mortgage payment is more than 31% of your income you can get help. Investors are aggreeing to fix rates to help home owners reach that percentage. You need to proove your hardship but at the same time show that income is still coming in to make the new payment. The hardship has to be real, they ask for all documentation to weed out scammers.