What happens once you start the loan modification process?
About five weeks ago I decided to file for a modificaiton of my mortgage with my bank. After my wife lost her job, there was just no way I could see us being able to make our monthly mortgage payments, the car payments, the student loans, etc. Anyway, we filed all the loan modification paperwork and now we’re just waiting for the word from the bank that everything has gone through and that they’e fixed our payments to fall within our budget. I haven’t heard anything from them and can’t get anyone on the phone. Is this bad news, or is this typical behavior?