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savior70
Joined: 25 Mar 2009
Posts: 1422
Location: Florida
168.75 Dollars($)
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Hi
To Nora,
Generally, when you refinance the mortgage in your name, the lender would want you to have the deed to the property in your name. Thus, if there is a decease person on the property deed and you refinance it in your name, the lender would like you to get the title in your name first and then apply for the refinance. But is it possible for you to explain the situation in detail? It'll help me understand the situation better and offer my suggestions on the issue.
To Jimbo,
It's true that your loan modification application, financial statement and other documents that you submit with the lender play an important part in getting your application for a loan modification approved. It is very important to convince the lender that you are indeed in serious financial problems and a modification would do you a world of good in getting current on your payments. Getting the help of an attorney or a loan modification expert while negotiating with the lender to modify your loan, will no doubt be a better option for you. It is indeed a sound advice to have an attorney or a modification expert to represent you in negotiations. |
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guidance
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Post subject: 2 homes |
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What to do when you have a renter property that is vacant and your 2 mos
behind?Do you call and tell your Lender you no longer occupy that property?Would the lender do a Loan Modification? I have already received
foreclosure letters.I'm now trying to sell the property,but I am behind? I
don't believe my lender knows I don't live@the property?Any advice on what I should do are can do.I have try calling Naca and others ,but was told I would not get help becauses I don't occupy the property. |
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anonymous123
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Post subject: do you recommend a Forensic loan audit?? |
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| Do you think that a Forensic loan audit help when you get a loan modification? |
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walkinghardxxx71
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Post subject: foreclosure |
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| my sale dateis 6-22-09 is it to late for loan modification |
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concernedsister
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Post subject: Job loss and modification |
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| My sister and brother-in-law both lost their jobs within a week of each other. Neither has been able to find another so they went back to school. Their lender will not work with them unless they have a job, although there is some unemployment income coming in. They have an FHA loan but are now being forclosed on. Is there anything they can do to save their home? |
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nativelasvegan
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Post subject: home loan modification |
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| We have a fannie mae loan, 30 year fixed rate adjustable. I am a realtor and due to economic conditions, have a documented loss of income. I have been trying to receive a loan modification with B of A for 2 months now. I contacted my State Senators, filed complaints with the FTC, the BBB, the comptroller of currency and probably a few more I can't remember. After being transferred from one person to another, I decided to send my paperwork directly to Barbara Desoer, the woman in charge of B of A home loans. I received a call from one of her assistants who informed me that would be reviewing my documentation and get back to me in 30 days. It is important to send the right documentation to the right person. Be sure to include a "hardship" letter. Contact your State senators for help. If you have to call them every day, call them every day. Don't give up. I haven't and won't. The big banks took billions of taxpayer dollars disguised as TARP funds and have an obligation to modify home loans. If I can help anyone who needs assistance with the government guidelines, contacting bank CEOs, finding out who your state senators are and their contact information, please contact me. No lawyer is necessary if you are persistent, knowledgeable and you meet the qualifications. |
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pjb
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| nativelasvegan - We have a Fannie Mae loan at a fixed rate. I have been working with WFB ( wells fargo bank ) since March and am still no where. I call them every other day and they still say the same thing – still pending. I thought people with Fannie Mae Loans were suppose to get help?? Any thoughts and or ideas? |
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nativelasvegan
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Post subject: fannie mae |
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pjb - what state are you in? I wish I knew which complaint I made had Bank of America calling me back. Since I don't, maybe you can take the same steps I did. FIRST, call your State Senators. If you do not know who they are, I will help you find their contact info. SECOND, file a complaint with the Better Business Bureau in the State you are located in. I can help you find that contact info if you need it. You can go to google and type in “file complaint Better Business Bureau [then type the name of your state here]”. THIRD, contact Wells Fargo executives via email: John Stumpf is the CEO of Wells Fargo. I can send you a sample letter, emails, similar to the one I sent the CEOs of B of A. I also attached a spreadsheet to my letter documenting the cost of the bank taking my home via foreclosure vs. modifying my loan. Any risk analysis department should be able to review my spreadsheet and determine it to be in the bank's best interest to modify my loan rather than foreclose. I will help you do a similar spreadsheet. FOURTH, send a certified letter to John Stumpf containing all of the necessary documents to do a home loan modification. If you do not know what is required, let me know and I can send you the list of documents to enclose. Be sure to send it certified, it gets their attention. Send it to John Stumpf, Home Mortgage Wells Fargo Home Mortgage P.O. Box 10335 Des Moines, IA 50306-0335. FIFTH file a complaint with the Comptroller of Currency in the State where you are located. SIXTH file a complaint with your State Attorney General, Consumer Affairs Division. This can also be done online. SEVENTH. File a complaint with HUD. Here is the address U.S. Department of Housing and Urban Development, 451 7th Street S.W., Washington, DC 20410. I will be more than happy to help you any way I can. I realize this will take you a lot of time. It took me a lot of time but it will be worth it. I won’t give up. I hope you don’t either.
[E-mail address deleted as per forum rules. Thanks.] |
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Menemsha
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Post subject: Wells Fargo |
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| I have sent in the paperwork to Wells Fargo and they respond within 45 days - I'm due to hear at the end of June. The have a loss mitigation departement that is fairly responsive. I think getting better as they had to catch up internally to educate themselves on the Obama plan. I'm trying to find out what the impact of loan modification will be on my credit score. |
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loriekelly
Joined: 22 Jun 2009
Posts: 6
3.79 Dollars($)
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Post subject: Menemsha |
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There will be a few factors involved regarding how your credit is affected after a home loan modification. There are guidelines as to how servicers are to report consumers receiving a modification. Both Fannie Mae and Freddie Mac have publications regarding the guidelines. You can visit either website and view their publications. If necessary, send the publication containing the guidelines and ask your service to stay in compliance with the written regulations.
[Link deleted as per forum rules. Thanks.] |
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happy54
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Post subject: modificatio |
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| what if you get modified and you still cannot make the payments and you stop |
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RGreene
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Post subject: Who has had a successful modification |
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| Bank of America inherited Countrywide's crooked ways. I read an article in the Chicago Tribune that said virtual there were NO conventional loan modifcations APPROVED. They are giving us the run around even with agencies like NACA assisting us. I've been going through this for months submitting documents and getting conflicting information from them. Can I hear from ANYONE who has had a successful loan modification? |
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loriekelly
Joined: 22 Jun 2009
Posts: 6
3.79 Dollars($)
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Post subject: Who has had a successful modification |
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| I have not yet had my modification approved. I have finally gotten to the point where a senior negotiator is reviewing my paperwork and gave me until July 10 to provide me with the terms of the modification. This took a lot of work and I believe my certified letter to Barbara Desoer, President of B of A that included all of the required loan documents is what led to the "senior negotiator." Have you contacted your state senators? I'll post again after 7/10 hopefully with news of my modified terms. |
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jmenes@sbcglobal.net
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Post subject: In foreclosure / pending answer on loan modification. |
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| I have started the loan mod process 3 months ago when my house first went into foreclosure. My mortgage co. has lost my paperwork several times, it is very frustrating. My question is should I reinstate my loan for $18,000 (the sale/auction date is set for July 17th, today is June 29th)or hold off and see if my mortgage co. can approve me for a loan mod. and thus save some of that money for badly needed home repairs. I have already been told by them that I do not qualify for the "Making Home Affordable" loan mod. The last I heard they were checking to see if I would qualify for another loan mod. program. I have had financial setbacks, divorce, lost half my income. I need an answer and the mortgage co. if not helpful at all. Thanks |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Hi jmenes,
I would suggest you to contact your mortgage lender and request them to speed up the process so that you can quickly come to know whether you would get a loan modification or not.
Thanks |
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