Needless to say I’m pretty pissed off right now. My mortgage is $1,400, plus about $300 in taxes and insurance, for a total of $1,700. My income fell from about $70,000 two years ago to $31,000 last year, which puts my house payment at about 2/3 of my income.. yet, they said I make too much money to qualify. But the rules as spelled out here http://www.callalms.com/... say this
Debt To Income Goal is 31%: President Obama's plan requires participating loan servicers to reduce monthly mortgage payments to less than 38% of the borrower's gross monthly income. The government would then assist in lowering the mortgage payments to no more than 31% of the borrower's monthly income
And i got this rejection letter on the same day that I read this
Treasury To Lend GMAC At Least $7 Billion more.
http://www.huffingtonpost.com/...
You know something? Fuck this shit! If I don’t qualify for a loan modification paying 2/3 of my income towards my house then who the fuck does? Are they giving this money to ANYONE?! I mean, I even told them I have a baby coming in september and these pieces of shit could care less. Is this one of those things where you just have to appeal 5 times before they think you are serious? Or do I have to go into delinquency first? (I thought this program was supposed to be for people who were at risk of going into default but not NECESSARILY already behind in payments?) Is there even a WAY to appeal this? Can I at least get some kind of fee-free refinancing? Do I have to do a whole separate application process for that? Do I do that through GMAC or someone else? I swear this whole thing is so fucking depressing, who do I go to for help? Maybe Scarlett Johanson can forward me Obama’s personal email so he can explain this to me because I can’t fucking figure it out!