Mon, 29 Aug 2011 15:28:00 -0500
By Stacy Whelchel
In a strange twist of events, a retired Florida couple was recently featured in a news story for being threatened with the sale of their home after paying their mortgage a week early.
The background: The couple had faced financial difficulties due to the husband's terminal illness. They asked their bank for a loan modification. The request was granted with the requirement that the couple officially default on their monthly loan payment, which they did.
Afterwards, their monthly payment amount dropped; however, the couple was removed from the plan when a January payment was made in late December. Foreclosure proceedings were initiated even after the bank was contacted for an explanation.
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