FHA loan modification question
I don’t know exactly all the details but my best friend is in trouble. She was not able to play 3 months of her mortgage (June,July,August) and they started the foreclosure process. When she tried to pay September they said no, don’t pay, we are sending you paperwork that they never did.
Then she called again and they told her congratulations, you were approved for a 3 months trial, if you pay November, December and January, those 3 months (around 10k with fees) that you owe will get added to your mortgage.
She said oh okay let’s do it.
Then she just told me she got a letter saying if she continues with this trial, FHA loan modification, they will add 14 years extra plus her interest rate will go up from 4% to 7%. And I was like whatttt?!
How is this helping her? That’s so messed up.
I told her to ask how much does she owe with all fees and everything so maybe she can get a personal loan and pay it off. Is that even an option?
Is there a housing support that she can contact for her situation?
Can anyone give us some guidance?
Thank you!!
(Rocket mortgage)