Over 50% of modifications fail and banks just don't put any money or effort in these things. I firmly believe that they have already written down your mortgage and are just waiting to clean up the mess... they aren't scamming you, they are just ignoring you. Since you don't make them money and they have already written off the loss, they just don't care.Sad but true.
You'll want to contact your current lender and see if they have a HARP program. Unfortunately, you're having an equity issue that nobody can lend to.
75% LTV is the highest I've seen so far.
Could have been a simple mistake. Obviously no bait and switch :)
None that I know of.
Really?... let's see how the next 4 years work out.
Every scenario is different.
Loan amount and credit score are too low.
I don't mean to sound harsh, but your husband seems to be a bit greedy here. The fact that there is a way to save money when you owe the same amount your house is worth, is a great deal.On the other hand, it doesn't necessarily make sense to spend $3500 to save $150 a month.As for buying another house in 2 years, I'm not sure why you would qualify or need a modification while thinking about buying another house...If you qualify for a modification, it means you are having a tough time affording what you already have. Please don't consider anything more than affording what you have.
It might. FHA has a NON-occupying co-borrower possibility for you. You really want to get a lender to give you details with a full application though.