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APPEAL the Lender's DENIAL of MODIFICATIONS and DEFERRAL

Thankyou for your efforts to help me keep my home. (Praise for something that hasn't happened in hope of encouraging it to happen)

It would be very difficult to pay the REPAYMENT PLAN’s $3,831.09 per month over 2 years and continue on with the current mortgage+escrow of $2,651. It’s simply unaffordable.

The business that I had to close was giving me a monthly income of $654 ( 2019 Tax Sched C net income of $ 7,846).  With this meager income I was still able to (just) pay the mortgage over the last 10 years !

I currently pay mortgage of $2,013 per month plus ESCROW of $638 for a total of $2,651.

If, say, my monthly mortgage payment were reduced to around $1,720 ( from  the $2,013 --  a difference of $293), I could more easily manage to cover home ownership costs going forward ( as the difference between $293 and my lost monthly income of $654 would be just $361).

But this missing $361 per month could be met:

• ·        in the near term with rental accumulation over the last 10 months.

• ·        And in the long term with inflation that allows me to

• ·        increase rent and

• ·        gives me more Social Security income.

Note that inflation does not affect MY outgoings so much as they are mainly food and utilities( half of which is paid by the renter).

I plead with you to do this modification and I really hope you will help me stay in my home.

Thankyou for considering my appeal,

PS I have been earning rental income since 2004 and will be in the future. Since early last year I have accumulated $2,100 per month. This will cover the missing $361 for 2.5 years.

Long term:-- rent increase and the $293 Modification will keep me in my home. Without the  $293 reduction it would severely jeopardize my ability to survive AND keep my home.

My current interest rate of 4.625% is so far above the current rate !

I am open to adding the interest (that you did not earn over the last months) to my balance for this Modification. ( $392k + $16k = $408k for 30 years @ 3% = $1,720/month)