Question: After 1 1/2 years of working on our modification with Chase and about one year of making our reduced payments we are being offered a modification, but not like any thing we expected. Our original loan was 338,000.00 at 7% for 30 years. Chase is now offering a loan of 365,700.00 (approx 30,000.00 increase)at 4.5% for 40 years. A fair market analysis was done and the price came in at $190,000.00. Our Debt has greatly increased not decreased. HELP What can we do. Iam 60 and my husband is 79.

Answers

Posted By: RightTrack Financial Services on Jan 28, 2010 12:24PM

A: I would recommend seeking the advise and help of a company that has expertise in this area. By filling out the form on this website you will be contacted by up to 3 companies who are experts in the loan modification field.