Fanniemae and Seterus / Loan Modification

Baltimore, MD, United States

The Loan Modification that Fanniemae/Seterus is outrageous or a bold face scam. I was approved for a loan modification that changed only the loan term. It changed it from a 30 year to a 40 year mortgage. Giving them an estimated profit of $125, 665.59 in interest payments for a $2988.42 of past due payments They claim the house has equity which is not true. I have submitted a comparative market analysis of the property and the selling price of the house is $25, 000 below the mortgage amount. They have refused to accept the CMA but focus only on the assessed value which everyone knows is used for city/governments to collect taxes.

Apr 03, 2013

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