Quote:
Originally Posted by Rochard
Everyone says that... But like I said, I had to jump through hoops. I knew this going in and any time they sent me forms to fill out, I made copies. Any time they needed information I quickly sent them copies - via email, fax, and over night mail. (I'm anal like that.)
That's just it. My house was worth half of what I paid for it. No matter what, there was no way I was going to stay - It just wasn't worth it. I could bail, go through a bankruptcy, rent for two years, and then buy the same exact house for half of what I owed. I was pretty much gearing up to leave the house, was getting rid of crap we didn't need, and was looking into rental properties. Suddenly one day I got a Fedex package and I thought "This is my eviction notice" and son of a bitch, it was my loan modification.
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What I don't understand is YES, your house went to HALF value, but that didn't change the payments you agreed to?
Sure it sucks paying way more for something than what it is worth, but you were doing that when you bought the house.
Lots of people with bad credit have to do this every Day. Paying super High interest rates one something to just get a loan.
I assume tehre was an income problem, but then again if you were making the same amount, when the value of the house crashed, you would still be making the same house payments.
a 1909 S vbs Penny at the bank is worth $.01 But to a collector it is several hundred.