Is a forensic mortgage loan audit ever useful in negotiating a loan modification or refinance with a portfolio loan? i've lost a good portion of my income and am saddled with a mortgage that amortizes negatively. it's a pick-a-pay loan from World Savings taken out in 2007. i pay almost $500 to principal above my minimum payment every month and still owe more than the original loan amount, because the loan is front-loaded. For the same money i now pay, i could have a loan that amortizes positively, but the bank--Wachovia--is slow in responding to my hardship letter and request for a change. Wachovia bought the loan from World Savings and these bad loans sunk Wachovia, so subsequently Wells Fargo bought the loans from Wachovia. These loans were bought at a significantly reduced price, but no sort of break is being passed along to me. i'm not in arrears or in danger of foreclosure presently, but will have to sell my home in the near future at a greatly reduced price. Is there any help for me that will allow me to remain in my home without owing the bank more than i paid and being sunk financially? when I took out the mortgage I had a credit rating of 803. I bought my home of many years in a divorce settlement. I'm 62 years old.
