The hubby had a shit job for the last year, and finally got a better job this past December, and we've finally been able to catch up the mortgage payments. They tried sending him an amended loan agreement, which I looked through. I love how the cover letter said that it would lower our monthly payments, and get us back on track, blah blah blah, take advantage of it.
I read through this "amended" agreement, and basically it states they would extend us to a friggin 40 yr mortgage at 5%, yet in reading through it, if he signed that and we were late just ONE time, they would charge "an interest rate at their discression"!! HELL NO THANK YOU!
Isn't that why half of Americans are losing their homes? Because their $600 mortgage payments ballooned to $1200?? Seriously people. That's how non-educated America gets screwed. No offense against Ryan, but if it were just him, he would have just seen the lower payments, and a chance to make things right again and signed. Sounds like a good deal right? WRONG! We'd end up paying MORE interest, more fees for a longer period of time. How does that help out anyone?
I spoke to the loan department and made them aware that I just sent in December's payment, and January's will be made next week, and then February's will be made on the 6th. We'll be caught all up, and basically told them where to shove their "amended loan agreement".
If will be nice to catch that up, the credit cards up, and the phone will stop ringing ... YAY! It was a rough winter, rough holiday, and things are finally starting to look up. It's gonna be a good year!! :)