Our trial loan modification

@dorannmwin (36698)
United States
December 10, 2012 12:34am CST
I told you all last week that I found out that our loan had been approved for a trial modification, but I didn't know any of the terms of the trial modification. Well, I just got those terms yesterday and it should be something that is easy for us to do. For the next three months we are on a trial of the modification and our house payment during the trial period is only going to be $433.38 every month for the next three months. After we've successfully made those payments, then our modification will be made permanently. This is a monthly savings for us of $170. This is great because it will ensure that we are able to remain in our house and that I will also be able to keep Tom's outstanding medical bills up to date.
2 people like this
8 responses
@chrystalia (1209)
• Tucson, Arizona
10 Dec 12
Good for you! I'm glad you get to stay in your house--I know personally what it's like to lose one. And the extra money will definitely make a difference for you, as well.
@dorannmwin (36698)
• United States
11 Dec 12
Oh no, I'm so sorry to hear that you personally know what it is like to lose a home. For us, I knew that something had to give, but I have to admit that this happening for us is really a special blessing for us.
• Tucson, Arizona
11 Dec 12
hey, it could be worse--I still have a 26 foot travel trailer to live in--but it's not fun, by any means. I'm just glad that this is happening for you--everyone deserves some special blessings in their life occasionally . One of these days, the other half and I might find a way to get a home again--until then, any roof is better than none at all. And as for you--onward and upward! And just in time for Christmas, too. One less worry to deal with, a little more slack to work with--things are looking up!
@dorannmwin (36698)
• United States
13 Dec 12
It might not be fun, but at least you do still have a steady roof over your head. Things for us have been tough for the last couple of years so it is my thought that it is time for a new and more positive chapter to begin in our lives.
@jeztrose (1405)
• Philippines
10 Dec 12
Good to know that you are having good times in terms of saving money. Well being a parent we really need to budget our money for our family and money today is hard to find to as to saving a money even a little is a big help.
@dorannmwin (36698)
• United States
11 Dec 12
It is very difficult to budget money when you are a parent. I've struggled with budgeting for years, but this added burden of thousands of dollars of medical bills has been the proverbial straw that broke the camel's back.
@jeztrose (1405)
• Philippines
12 Dec 12
Yeah i know what you actually feel. We as a parent, are the ones responsible for keeping the need of our family. In fact, we do anything to be able to save our family from any danger. i hope that this problem of yours will be resolved sooner.
@dorannmwin (36698)
• United States
13 Dec 12
I believe that all of the problems that we've been facing in the last couple of years are something that will soon be resolved.
@garson (886)
• United States
22 Dec 12
May I ask how long is your term? Hopefully you can be rich and prosper. Merry Christmas.
@dorannmwin (36698)
• United States
27 Dec 12
Well, for right now it is the three month trial to make sure that the new mortgage payment will be doable for us. The best that we understand, after we've successfully made our three trial payments, we will be reset into a new 30 year mortgage with an interest rate of three percent. However, I won't know the full details until we've made all of the trial payments.
@bunnybon7 (37950)
• Holiday, Florida
10 Dec 12
wow. see i knew things were cheaper there near our home state. i keep telling son we should move back home. hes had this one modified for $945 a month but it used to be 1,344 a month but we live in phoenix , az. things are so high here. but he keeps saying since he works construction, he cant live there. good for you girl. congrats.
@dorannmwin (36698)
• United States
11 Dec 12
I do have to admit that is one of the things that I like the most about living where we do. Things are mostly reasonable for us to afford. Also, when we bought our house, we didn't go really expensive, we went with something that we should have always been able to afford and wouldn't have had problems with if Tom hadn't been through his health struggles.
@cynthiann (18619)
• Jamaica
10 Dec 12
This is wonderful news and the year is ending well for you. What a great scheme and I am happy that you have been approved and know that you can meet the required terms. I am even more happy that you will be able to pay off the medical bills - thatmujst be such a worry. My children are heavily in debt over my medical bills in the U.K. I still feel so guilty about it. They toldme that there is no price on my life but I still feel guilty as thisn unexpected debt has impacted heavily on their lives.It will be a wonderful Christmas for you and your family as you start the New Year with hope.
@dorannmwin (36698)
• United States
11 Dec 12
I definitely do have a lot of hope and I feel very optimistic for the new year. The only thing that will make the first little bit of next year better for me will be after my husband has his CT scan and doctor's appointment in early January and I will be thrilled when they tell us that he is still in remission.
@bostonphil (4427)
• United States
10 Dec 12
It seems like your life is looking up. You had a run of bad luck and now maybe it is time for a run of good luck. It came during a good season to have good things happen. I hope that good things keep happening to you and your family. I am writing this around 4 a.m. with a cold front coming in. The wind is blowing fierce. It feels very mystical and spiritual.
@dorannmwin (36698)
• United States
11 Dec 12
I feel like it definitely time for us to have things start to look up for us. I am hoping and praying that this is the beginning of a new chapter in each of our lives. The other thing that I'm really happy about is that our debt management will finally be paid off in the early part of next year as well.
• United States
10 Dec 12
That is great that your mortgage payments have gone down and that you can afford them. I know that you had worked hard to pay off the house and am glad that you had help so you can make things better for you, Tom and the kids. I am sure that it will become permanent because you would never skip payments on purpose.
@dorannmwin (36698)
• United States
11 Dec 12
You are right, the only reason that we ended up in the situation that we were in was because of the fact that we had to pay on medical bills and his being short at work didn't help anything at all. Finally, though, it feels like the pieces are starting to fall into place for us.
• United States
10 Dec 12
Anything that will help with the bills is a good thing. I sure wish it were longer that you could save the money. hospital bills are high. and for some reason twice I was not covered and they keep calling me. I don't have it and they sure will be waiting till I get it.
@dorannmwin (36698)
• United States
11 Dec 12
It will actually be something that is made permanent after we've made the three trial payments. It might actually go up a little bit, but overall when the modification is made permanent, it will lower our loan rate from 6.25% to 4.00%.