Minneapolis/St. Paul Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Mortgage modification
Has anyone been through this process? I would like to talk with folks who have successfully or unsuccessfully modified their mortgage payments. My income has decreased but my expenses will increase due to an unforseen event.
Re: Mortgage modification
My sister and her boyfriend did the Home Affordability modification a few years back. I know their interest rate is 1%, but it stretched the life of the loan to 40 years. I don't know a lot of specifics, but she said it was a lot of work and a lot of time. It took about 3 months of constant phone calls. They had to do phone interviews about spending habits and income (they literally went over each purchase on her bank statement). This was all at the beginning of the housing crisis so it may not be as disorganized and long now.
ETA: I called my lender to discuss a modification and they said they would not work with me until I had late payments. I don't know if this is true of all lenders.
my read shelf:
Thanks for the insights.
For HAMP the current standard is in imminent danger of default. The Treasury Department publishes guidelines, so whether you qualify will be a matter of calculations. You will have to provide a lot of financial information, and it can take quite a while, but it definitely does help some people.
We looked into it because it looked like we qualifed, but because we were not behind and we have good credit, so they said we didn't qualify.
The bank was a dead end of information. Try looking going through a community action group to get more info.