Since we are right smack in the middle of working on a loan modification, and since I have decided to share our story in the interests of giving information to others who may be in the same boat and shining a light on the process, I am inviting you, my friends, to come along with us as we navigate the shark-infested waters.
I have absolutely no idea how this is going to end up. My best hope is that OneWest decides to give us a loan mod with a decent interest rate, maybe a principal reduction, so that we can afford to stay in the house. Whether this will happen or not, I can't begin to tell you. We may lose the house to foreclosure; we may do a short sale - who knows? All I know is that we are going to fight hard to keep this house.
Our house was scheduled to be sold at auction on March 15th, but my husband went down to the courthouse that day with our bankruptcy paperwork to make sure they did not sell it. Our new sale date is sometime around the end of April.
On March 2nd, we requested RESPA documents by registered mail. We got a signed receipt by return mail, but we have not received the documents as of yet.
Tomorrow, we will be meeting with our mortgage broker, who has been working tirelessly to help us keep our house. I call her St. June. We will talk with her to determine what our next step will be.
I'll fill you in tomorrow. Wish us luck!