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What is a PRe-Mod plan and will it stop foreclosure
March 26, 2008
I was in a pre-mod plan with Fremont Investments. I completed the 4 month plan as agreed (I just made my last payment of the plan) and just received a letter stating my loan has been transferred to Carrington effective 4/1/08. Fremont is telling me the modification has not taken place, and I feel as I have no guarantee that Carrington will do anything. I feel I've been lied to this whole time by Fremont.
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- We need to freeze our rate and get out of foreclosure - December 31, 2007
Comments
I too received the same letter to my surprise from Fremont and just as I was completing my 3 month plan. I phoned Carrington and was told that I would need to re-apply with them and "IF" I was approved then a modification would take place. I am about ready to walk away from my home to be rid of the stress and sleepless nights and let them worry about what to do.
I too am facing foreclosure or a short sale but was finally offered a loan modification. Im not sure if I will be able to pay what they are offering. I left my home of 20 yrs bc of the adj rate sky rocketing.how is it decided what the new payment will be?
I do not know about others; but, I have tried to do a short sale thru Carrington and they are trecherous and do not deal in good faith. I would not waist my time again.
I am able to make my next three mortgage payments on time, but after that I will not have enough due to my debt and income not enough. I need to ask mortgage for help. What kind of help will they give me. My income was slashed in half and I have incurred debt. I want to keep my home, but will they tell me I cannot since my debt is too high.
We were considering short selling our house thru carrington. Can you guys tell us what your experience was like?