Mortgage Forum
downey savings loan modification help
This is a topic titled downey savings loan modification help made in the Home Mortgage section, belongs to our Mortgage Chat category; I took out a pay option loan with Downey a few years back through a broker. My broker told me not to worry as I could aways get out of ...
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| Members List | Search | Today's Posts | Mark Read |
July 28th, 2008, 07:04 PM
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| Senior Member Registered: May 2008
Posts: 907
|  downey savings loan modification help I took out a pay option loan with Downey a few years back through a broker. My broker told me not to worry as I could aways get out of the loan with a refinance. I called Downey since I am due to recast in a couple of months to see if I could get a loan modification as my payments are going to double. Downey told me that my loan was sold to a company called GCM and they will not consider any loan modifications. They will not give me a number for GCM to call. They said if they still had the loan they could do a loan modification for me. I cannot refinance as I owe $100,000 more that what my home is worth. Any suggestions as I do not want to lose my home but will not be able to afford the new payments ... |
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