I just got off the phone with a senior citizen who has a $4,800/mo house payment. He’s on a loan modification with a 4.75 percent interest rate.
He can't afford his payment.
He wanted me to call his mortgage lender and ask them to give him a second modification. (I told him I just couldn't make the call.) There are many people so desperate for help. I hope others realize how lucky they are.
Plenty of people can’t get ONE modification.
By the way… if you are having trouble making your payments… check out this 9NEWS.com story I put together. It has lots of inside tips and even has a downloadable packet that explains your options.