So after 13 months of endless paperwork and phone calls, I received a HAMP modification from WF today.
Guess what??? They increased the balance (by $30k), they increased the duration of the mortgage (by several years) and YES, YOU GUESSED IT....They increased the payment by $200/mo. Awesome, huh?
Well, as they told me, it is very expensive to have a law firm put you in and take you out of foreclosure for a year and we had to attach those costs to your account. What a freaking joke. While HAMP requires a payment of not more than 31% of income, they decided it would be fair to also include retained earnings of my (very) small business.
If the interest was not deductible, I would walk today. Anybody else dealing with HAMP?
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