From: Jarrod and Marietta Boscow

 From: Jarrod and Marietta Boscow

Date: February 22

To: Loan Servicing Vice President, Peabody Bank

Subject: Application for loan modification

To Whom It May Concern:

This message is to support our application for a modification plan that will help us to resume affordable mortgage payments.

Our youngest son has a learning disability and attends an exceptional special-education program at his public school. If we lose our home, we will likely be forced to move out of our current school district. Few rental properties are available in the area, so renting or leasing is not a probable option.

We fell behind on our mortgage payments due to loss of income. Jarrod was laid off by his prior employer last September. Marietta was able to increase her hours as a school aid, but we were unable to make full mortgage payments for December through April.

On April 15, Jarrod found part-time employment, and the job is expected to change to a full-time position on July 1. Jarrod's new employer has been in business for 35 years. His income will be slightly less than his previous wage, but with the extra pay earned by Marietta, our total income will amount to 90 percent of its previous amount.

Our financial details are enclosed. If you can arrange a loan modification that involves payments of $800 or less per month, we are certain that we can work it into our budget. Thank you in advance for your help.

 * As the assistant vice president of loan servicing at a lender, you receive a letter from a couple who is in jeopardy of losing their house because of missed or partial payments. Read the e-mail and identify the detail that is implied about the consequence of moving.

A. They will not be able to pay rent or lease an apartment elsewhere.

B. Marietta will lose her job if she moves from the school district.

C. The development of their son will be disrupted because he will have to change schools.

D. They will not be able to afford the cost of professional movers.

E. Jarrod will not be able to find work in a new city.

 * What is implied about their future?

F. If necessary, Marietta will get a second job in order to keep their house.

G. Jarrod's new employer and job are stable.

H. If they are given a short reprieve on their past-due payments, they will be able to afford their current house payments beginning in July.

J. As soon as they can afford to do so, they will sell their house and rent a property in their current district.

K. They will move when they find another school that can meet th

e needs of their son.

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