Why does your loan have to show delinquent in order to qualify for a modification & is there a way around that?
My friend has signed up for this program with Wells Fargo, but she said that she had to miss August payment so she could be 30 days late, have her credit report reflect delinquent and then she would be eligible. Her husband’s income changed, but in 3 years she has never been late. She has suggested I try this program due to my income changing, but I told her no because I have never been late on my mortgage, and I was told that your account stays in delinquent status for 7 years even if you are current that delinquent indicator will still stay there. If there a way around this?