Posted on: 21st Mar, 2009 03:44 pm
Here's one for you. I had a loan modification right through my mortgage company last Sept, Washington Mutual (WAMU). I hadn't missed or been late with payments, but I was looking at falling behind because I was spending thousands in medical care for a newly diagnosed incurable chronic illness. I thought the modification was the answer to my prayers. I paid my payments every month, and received a letter at the end of January saying I was several payments behind. Shortly after my modification WAMU was bought by CHASE. I called WAMU, who is still handling the loan, and figured it was a simple error. They hadn't credited one payment to my account, It is now March, I have not missed or been 30 days with a payment since I've owned the home for 11.5 years, but apparently my house is now going to foreclosure. I have continued to make the payments, have called WAMU repeatedly, & no one will straighten this out. I have the documentation for the modification, monthly statements, payments deducted from my bank account, yet my house is going to be taken? I can't afford an attorney to battle this, so I sent copies of all my documentation to 3 local news stations & ABC World News praying someone will pick up this story. I have received one back with a couple of phone numbers, and have yet to hear from the other 3. I am too sick, too tired, and too broke to fight. If one of these news stations don't pick this up, I have no idea what to do, other than continue my payments, and attend the foreclosure hearing, if I even know about it. Present all of my documentation to the judge and hope for the best. I have filed a complaint with the BBB, but I am sure they have a lot of complaints, & are probably not answering them because they have a D rating. I happen to be in a mortgage nightmare through no fault of my own, and can't seem to get out of it. Stress is no good for my health condition, and I am nearing the point of walking away to save myself rather than my home
Some attorneys will work for free initially and will charge the bank their fees so you have nothing out of pocket. This should be a slam dunk case for you especially of you have copies of the documents that you signed and copies of the cashed checks.
I have the exact same problems as you minus the health conditions...
My husband owns property in Bullhead City and we've been making our monthly mortgage to Chase bank. While we're making our payments, we've also requested a loan modification to seek a possible lower interest rate. Several months have gone by with no feedback until recently, our tenants received an eviction noticed in the mail. Apparently, the person who started our loan modification has left the company. We finally got a hold of another person a week ago from Chase bank who assured us that she would take care of it and we called today and found out that person no longer works there too. We're not able to find anyone to help us from the bank. We've called about a dozen lawyers in the area who have not returned our calls or said that they're not sure if they want to take the case. It's just so weird that the bank is allowed to do this especially we have been paying our mortgage on time with proof.
My husband owns property in Bullhead City and we've been making our monthly mortgage to Chase bank. While we're making our payments, we've also requested a loan modification to seek a possible lower interest rate. Several months have gone by with no feedback until recently, our tenants received an eviction noticed in the mail. Apparently, the person who started our loan modification has left the company. We finally got a hold of another person a week ago from Chase bank who assured us that she would take care of it and we called today and found out that person no longer works there too. We're not able to find anyone to help us from the bank. We've called about a dozen lawyers in the area who have not returned our calls or said that they're not sure if they want to take the case. It's just so weird that the bank is allowed to do this especially we have been paying our mortgage on time with proof.
Hi Lily,
In my opinion, you should write a hardship letter to your lender and inform him about your situation. In the hardship letter, clearly state the reasons as to why you are looking for a loan modification. I hope this might help you.
Take care.
In my opinion, you should write a hardship letter to your lender and inform him about your situation. In the hardship letter, clearly state the reasons as to why you are looking for a loan modification. I hope this might help you.
Take care.
Under RESPA, your loan servicer MUST properly apply your loan payments properly to your account. I've been refused 4 times from Chase (my mort co. was Wamu as well) and the last two times, they suspended my payments and didn't apply them properly. Last year it took 3 months of calling time after time and demanding to speak to a supervisor, and each time they promised me it was handled. And the next month I'd call in to make my payment (as I always do) & was whisked off to collections so they could tell me I was late on my payments. Like I said, this went on for 3 months last year. This year I gave up on trying to get a loan mod and decided to get a refi instead (HAMP vs HARP). I completely qualified for the HARP loan, but when they sent my package to underwriting...guess what? My loan was denied because of another late pay. WHAT!!?? Apparently, the 4th time I tried for a loan mod, they did the SAME thing to me again. So I contacted my local Department of Real Estate and they told me that it was a violation of RESPA if they didn't apply my payments correctly AND that I could sue them for it if I wanted to. Here's the weblink for the Los Angeles Dept of Real Estate that covers the very issue you're having.
http://www.dre.ca.gov/faq_loan_servicing.html
HUD has an enforcement wing and called the DEC. They can enforce your bank to follow whats written in the RESPA laws. Here's their link.
http://portal.hud.gov/portal/page/portal/HUD/program_offices/enforcement
http://www.dre.ca.gov/faq_loan_servicing.html
HUD has an enforcement wing and called the DEC. They can enforce your bank to follow whats written in the RESPA laws. Here's their link.
http://portal.hud.gov/portal/page/portal/HUD/program_offices/enforcement