the gist of our situation

[Joel Fraser]

I posted in a separate forum, but understand if given the juicy bits- perhaps you all can make sure I am going in the right direction!We have been in our home since 2005- and at the 2 yr mark- we refianced. We went with the original loan person- who, after getting al lthe paperwork together, but prior to the CLOSING, made the outrageous statement to "Not pay October's mortgage payment" because we were to close the refi that month.Obviously- big mistake! We didn't pay because we were going to close that month.the original lender (Chase) reported the 1 missed payment on our credit- causing the REFI to fall thru- because just before the docs are prepared, a credit report is pulled. Guess what, our credit rating plumeted. Chase said- tough luck-literally.So we fired that loan guy, and scrambled for someone to refi us with a less than pretty credit. We found HFC/Beneficial. They did the appraisal, the paperwork really fast and did some confusing number crunches, charged us 12K in fees, which came out of an unsecured loan they strongarmed us into getting to complete the refi. We were desparate to refi, to save our credit! Now we are upsidedown on the loan, and can't get out of this crazy 10.75% rate.I am working with someone from HSBC to do a loan mod, but wonder if there is more to this case than what is on the surface. I know no one can make me do something I don't want, but I listened to the "Experts" aka Loan officers who assured me we can refi again in the future, that this method of refinancing is beneficial to us. They know what they are talking about right?Well, funny enough, not 2 months after we did the refi- the office we went thru suddenly closed and we have no means of contacting the original loan officer- should we need to.Something is not sitting right with me about this whole thing.Now we can no longer afford the high payment, and I am hoping the loan mod goes through. Any suggestions?Thanks for reading.Be wellAmyjean