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I Got My Mortgage Modified But It’s Not Enough Help. – Tina

“Dear Steve,

I have lived in my home for 10 years with a refi in 2003 to get the home in solely my name and to get my mom off the docs. I lost my job in December got back to work 5 weeks ago. Got Hud loan to catch up 5 months of payments on my FHA mortgage through Everhome Mortgage. That was three months ago.

I can now make my normal payments starting in July but I cant catch up the three. I called Everhome and they said becuase I am a FHA loan they cant modify, I asked if they were participants of the Hope for Homeowners and they said no.

I asked if I could find a lender who would help me through this program if I could settle with them. They said no, only the full balance of principle. My homes value has dropped from 160k to less than 100K. I live in the burbs of Flint MI. I don’tt want to loose my home, it has been my home since birth. I bought from my dad and grandparents. The total amount I am behind is $3036. PLEASE HELP

Can my mortgage lender modify my FHA loan other than the hope for homeowners? Such as Longer term, lower rate, put the balance I owe in payments on the principal and strech it out over the remaining term of the loan? They said no FHA doesnt allow this.


Dear Tina,

It does appear that Everhome Mortgage is not a participating lender of the HOPE for Homeowners program according to the list of lenders on the HUD site.

Lenders are not required to participate or cooperate with the HOPE for Homeowners program.

I think your best bet at this point would be to find a local housing counselor to talk to to discuss alternatives. There is no charge for this appointment.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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