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View Diary: When you stand up to bankers, you win (146 comments)

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  •  My husband's niece (4+ / 0-)

    just got her mortgage refinanced under HAMP.  Her monthly payments went from around $1400 down to $900.

    She's disabled, only working part-time, and she just lost her father's social security when he recently died, so that's going to help her tremendously.

    •  How did she qualify? (1+ / 0-)
      Recommended by:
      Muskegon Critic

      Under HAMP, are there no income to debt ratios?

      Pentagon Papers Daniel Ellsberg, “It was always a bad year to get out of Vietnam.”

      by allenjo on Mon Feb 20, 2012 at 10:45:24 AM PST

      [ Parent ]

      •  Frankly, I don't know the specifics of all (3+ / 0-)
        Recommended by:
        allenjo, Muskegon Critic, KenBee

        all her debt, largely because I didn't want to be that intimately involved.  She was ashamed of her situation.

        Earlier last year, she was having problems making her mortgage payment, was late a few times but not into foreclosure yet, but told us she was considering putting the keys in the mailbox and leaving.

        I knew about HAMP, found the website and sent the link to my husband who forwarded it to her.  He then helped her get the paperwork together to send to her bank and she qualified.  For the first few months, her payments were reduced to about $1200, and since she made those payments on time, her payment was reduced again another $300 beginning last month.

        The HAMP site also had links to other organizations in her state (Conn) that people can contact to get additional state/local assistance.  I know she's met with one of these organizations already and said she was getting some additional help, but I don't know exactly how.  I've left it up to my husband to help her through it, so she wouldn't be so embarrassed if too many relatives knew her situation.

      •  Oh, her income (3+ / 0-)
        Recommended by:
        allenjo, Muskegon Critic, KenBee

        consists of part-time telephone work and she collects disability for herself (she has MS) and also, because her son is only 15, she collects an additional disability amount.

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