My husband and I live on $2204 a month...that's it...no food stamps...no assistance...
We were told our income qualified us for a Mortgage Modification program to reduce our monthly payments. What a relief! After paying all our bills each month, we have less than $300 left to buy groceries, medicine, fuel for our 11 year old vehicle, gifts for Christmas, birthdays, etc. One can imagine any reduction in our mortgage payment, no matter how small, could only help! So imagine my surprise when the young man from Nationstar Mortgage told me today we may not qualify after a 1.25% ($551) adjustment is added to our monthly income. Evidently, it is part of the formula handed down by Fannie Mae.
SO...a federally sponsored program is creating money on paper to disqualify me from a program that could really help our financial dilemma. Just give me the $551 and I will not apply for the modification!
After the mortgage company rep as well as the Fannie Mae rep could not explain the reason for this adjustment, I called my Congressman Kenny Marchant's office simply to find out who at Fannie Mae could give me an answer. Guess what! They were too busy to talk! Scott Cunningham, the congressman's social security 'expert', would not get on the phone! They offered a call back at his convenience...Monday. Well, Monday may be too late! Thanks, Scott!
I started my blog because of this very reason. Maybe if I lied and said I was a pro-life lobbiest bearing gifts, someone would have gotten on the phone...
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