Posted on: 31st Aug, 2010 08:46 pm
All Ive heard so far are horror stories, has anyone had any success with this program? I just sent my documents in today, I was hopefull, untill reading the the posts on this forum.
Welcome ablueyeddevil,
Getting a loan modification may vary depending upon individual situation. If you're facing severe financial hardship and can satisfy all the required criteria of the lender, then you would be able get a modification.
Getting a loan modification may vary depending upon individual situation. If you're facing severe financial hardship and can satisfy all the required criteria of the lender, then you would be able get a modification.
I have seen 2 successes posted. 1 took 6 months and 1 took 9 months. The terms were 2% for 5 years and then increasing to 5% at 8 years.
I have been sending document since 7/21/2010 and still do not have an answer, My expectation is they will want more documents
I have been sending document since 7/21/2010 and still do not have an answer, My expectation is they will want more documents
From July 21 to present isn't a long time in the world of modifications. Yes, indeed, be prepared for providing more documentation. That's just cautious behavior and it'll serve you well if you need to do it. That you hear far more complaints than raves is typical. How often do we people say, "hey, everyone, the bank did me right!" More often, it's the complaints that get posted, and that's just life.
Keep plugging, and as Adonis mentioned, if your situation fits the profile, they'll help you with the modification. Keep in mind that there are other alternatives to HAMP, and they'll explore whatever possibilities they can to try to help. It's in their best interests to assist borrowers, so they'll strive to do it. Keep in mind also that some requests simply cannot be met due to the circumstances. There's no such thing as 100% success in any endeavor.
Keep plugging, and as Adonis mentioned, if your situation fits the profile, they'll help you with the modification. Keep in mind that there are other alternatives to HAMP, and they'll explore whatever possibilities they can to try to help. It's in their best interests to assist borrowers, so they'll strive to do it. Keep in mind also that some requests simply cannot be met due to the circumstances. There's no such thing as 100% success in any endeavor.
