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Loan modification terms end in Nov and I want to extend terms.

My loan modification process with GMAC started in 2007 and after notarizing documents and making payments for 11 months I was notified payments were be posted to my account but never located because they held my modification. I was told it was due to computer issues at one point in time and another time I was told it was be wise they didn't have home owners policy information. They changed the terms of original modification sent out new documents and the new terms started 2/1/09. In November of 2013 the terms change back to an adjustable rate, and payments will include principle and interest. My credit is bad around 550 and I have had many late payments, paying about 20-30days behind each month. I can afford the payments now that I am financially getting back on my feet and want to keep payments the same. I have about $50,000 in equity and steady income. The loan is now serviced with Ocwen. With my credit being so bad what are my options as I can't afford much more in monthly mortgage payments?
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May 23 2013 - North Park
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Contact the Servicer and re-apply for a loan modification.  As long as your financials have changed then you can ask for another review.
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May 30 2013
i would contact the current servicer (Ocwen) and see if they can assist you. there isnt much else that can be done through other channels of refinancing
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May 23 2013
 
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Loan modification terms end in Nov and I want to extend terms.
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May 30 2013 | 2 answers
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