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You may want to be careful as what other people have been reporting to us is that many of these banks just on your application seeking to remodify the loans and before you know it you are in foreclosure proceedings and cannot do anything about it because the bank never foramlly agreed to modify the loan with you in writing.
My suggetion is that you file for Chapter 13 bankruptcy and force the bank to work out a 3 to 5 year plan to see you through these tough times.
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As far as the confirm on the workout - what about telephone records (theirs). Or is that just silly?
As for the Chapt. 13 - how will that affect my mortgage relationship? No and in hte future? I had to file for Chapt 13 back in 1990 and paid all of that program off - but I excluded the mortgage I had at the time (not the current one).
Does Chapt. 13 stay on credit for 10 yrs like other form of Bkruptcy?
Their telephone records saying that the file has been marked does not constitute a written agreement that an actual modification was agreed to by them.
The chapter 13 willl stay on credit record for 7 years.
I need a clarification as to what you mean by how it will affect the mortgage relationship.
I don't really know - - I guess it can't really get much worse than now...
I have some thinking to do I guess.