We recently applied for a loan modification with wachovia.We waited for 6 months and many countless hours of faxing, mailing, and contacting.
Each time we spoke to someone they said it would be another 30 days, then we spoke to a rep who said that all looks good and we should be hearing back from them anytime. Another month went by and this time when we called they said we did not qualify due to income to debt ratio being over 31%. Are you kidding of course it is we lost our jobs and are unemployed.
I have used all the savings we built up to save our home and now our lender says that maybe we should short sell and find another place to live.They strung us along like puppets thru the whole process and now waited till all our money is gone to tell us that now that we may be homeless soon.