Homecomings Loan Modification verbal approved

[Mike]

Hey all... In April I called Homecomings ( 2nd mortgage) fixed 8.75%. re: lowering my interest ..I called in May to Homecomings and spoke to Noel. I told him we would be unable to make a May payment because we were behind in our bills . He said to call in at the end of the month. We missed our May payment.. At the end of May the CSR called about payment, I explained that because we were playing bill catch up we were unable to make May payment and June . I asked about a loan modification and she said we were probably not eligble but would take my financial information over the phone and make a referral. Which she did... This morning I recieved a call from Jonathan of the Homecomings Loan Mod team.. He stated that the best he could do was possibly lower our interest from 8.75% to 7 or 6.5%. I told him our goal was to lower our interest . Jonathan said he would approve the mod at 6.5% and I could send $300.00 (down payment) by the 27th or 30th of this month. This amount will bring us current. Since the phone call was at 3:49am , I called at 6:00a to verify information and remembered I didn't have all the information. I spoke to Anthony. Jonathan had already began the process of updating the records for the loan mod docs. Anthony explained based on the notes our interest rate had been lowered from 8.75% to 6.5% fixed for the life of the loan. $300. by end of June and new payment due September 1st. Homecomings will be sending the loan mod docs for signature with a notary to our home and the notary will send the docs back to Homecomings. This should happen by the end of next week.Both reps were very professional and courteous. I have been lucky.Sureal I did sent faxes to GMACC corp and Homecomings last week... I do have a question though.. I sent a QWR on May 30th as we wanted to see what docs are in their files..will the docs sent show the loan modification information or information prior to the loan mod?.. Also.. Can we save our home in this forum twice (haha) rj