Loan Modification

Today I learned more things.

First and most important, when looking for loan modification help, you cannot apply for more than one program at a time.  If you do so, any other previous applications you have made will be automatically made null and void.  So, if you're doing this, *be careful*.  Do your research, ask your questions, but don't formally apply until you have chosen which program you want and you are ready to do so.

We have an FHA loan, which is not serviced by Fannie Mae or Freddie Mac.  This sends us down one particular path.  All the FHA programs will want the same data on the same forms, which you can print out off the internet.  I got mine from a BofA website that their representative on the phone told me to check out.

I was also advised to google "FHA mortgage assistance" and "FHA waterfall" for more information on how all this works.  I have quite a bit of reading to do.

I have a particular case manager now, one person who I need to talk to to ask questions and such.  That's a nice thing, in theory, I don't have to explain things over and over again.  She said we'd talk again in 7 to 10 days.  Which seems like a long time to me, but, oh well.  It also brings us right up against the date the loan transfers from BofA to Nationstar.  I did ask her about the loan being sold and how the timing of it will impact this process.  And, the bottom line is that she didn't know what that was going to do.  So we will proceed, doing the necessary, and wait and see.  The loan will remain FHA and everything, so in theory most of this work will not need to be done over again.

I really don't want to read up on all this, I'd rather zone out and watch escapist TV.  Ah well.