anyone have a mortgage with a "UK Investor"?

[Tom_Mi]

Has anyone else had a UK investor, and called the bank about any of the "Pretending to Make the Occasional Home Affordable" programs?

My house was IIB/discharged in April. The pmt just spiked so I'm going to miss the Sept pmt.

I called the bank (Chevy Chase Bank - not the same as Chase) last year about a rework and they said "our investor has told us they won't accept reworks".

I'm going to call again after the 1st missed payment, just to be sure their story is true after the ink is red.

[poorold]

if you are going to try to keep the home and work it out, I'm inclined to think you should do so only if the new deal includes a principal reduction to current market value (at most) and an interest rate reduction.

You owe them nothing. You can stay or leave without paying another dime. It will cost the "investor" thousands in foreclosure costs, lost payments and tens of thousands in closing costs when the investor eventually is able to sell the home.

You seem to be holding all the cards.