Posted on: 23rd Nov, 2009 10:34 am
I'm having an issue with my mortgage servicer. I contacted them four months ago when I noticed my ARM may jump above what I could afford. Then had a hardship which definitely made the situation worse. I was told that they could not help till I was in a forclosure status. So I scraped away to keep paying the mortgage. Now I'm 60 days past due and being told that they can't help me till I'm current. Does it make sense for me to contact my loan originator directly and how could that help?
Thanks
Thanks
Yes, I would recommend that. However, the originator is going to head straight to the bank on your behalf anyway.
Who would have more control over that decision? The servicer or the originator?
I'm looking for as much help as possible since I tried going to the bank while I was current and now they are changing their story.
I'm looking for as much help as possible since I tried going to the bank while I was current and now they are changing their story.
The Servicer. Why don't you hire an Attorney to do this for you? Personally, I wouldn't attempt something like that by myself.
It sounds like you are getting the run around! The banks are not going to help you if your mortgage is current. They don't care. The banks are over loaded with homeowners that can not afford there mortgages and are facing foreclosure. It sounds like you may qualify for a modification if you are facing 60 days behind.
[Email address deleted as per forum rules. Thanks.]
[Email address deleted as per forum rules. Thanks.]
You can try a HAMP but beware it's not easy. We applied for a HAMP through Wells Fargo. Both my wife and had been collecting unemployment at the time. They denied us because we had too little income. When my wife got a job, we re-applied and they again denied us, this time because we had too much income. The funny thing is, her new job only paid about $10k more than the unemployment. We went from about $50k to $60k. $ 50k was not enough and $60k was too much. I am not confident they know what they are doing at Wells Fargo. Every time I asked a question, they would say, a government program and we have no say.