Posted on: 15th Jun, 2009 04:49 pm
In October 2008 I received a default notice, and like those who go through this, a letter stating that I was in a preforeclosure status. On October 31, 2008 I submitted all the paperwork to Countrywide for a modificaton, and in all honesty they were very informative and offered the modification to me, so unlike many others I have no complaints on that issue. The informed me that they were not starting to modify loans with their new program until the end of December 2008. I called the last week of December, and called every week for Dec, Jan, Feb, Mar. in March they told me they have received alot of modification requests, and they are getting to them as fast as they can. They politely requested that I not call them so often, as each time I call them they have to update my information for those working on my Modification, and this sets the process back. They suggested I call every two to three weeks, or once a month. They apologized for the delay, and were actually very curteous. So I have called them every other Friday, with the same response. We are working on your modicfication, and it has been assigned to a modifier. Please be patient. This is now June 2009, and I am really curious just how long this is going to go on. I have been "paying the payments" to my savings to be ready when I get the paperwork, so its not a financial issue for me to start paying, but when has it been too long.....that is my question.
maxxysmommie
Welcoem to the forum
I think its time for them to get your modification done.
At this point what you need to do is send a hardship letter explaing your situation and ask for some help
You can find a sample of the same on this forum
http://www.mortgagefit.com/problems/hardship-letter.html
Welcoem to the forum
I think its time for them to get your modification done.
At this point what you need to do is send a hardship letter explaing your situation and ask for some help
You can find a sample of the same on this forum
http://www.mortgagefit.com/problems/hardship-letter.html
Hi Max,
A modification process usually takes about 3-4 months to complete. But with so many properties being in the pre-foreclosure status, the mortgage companies are flooded with requests for loan modification. In such a situation, the time to complete the modification process has increased. There is little you can do to quicken the process of modification. Wait for their response and keep in touch with them. In the meantime, keep saving as much money as possible so you can make your payments once your loan has been modified.
A modification process usually takes about 3-4 months to complete. But with so many properties being in the pre-foreclosure status, the mortgage companies are flooded with requests for loan modification. In such a situation, the time to complete the modification process has increased. There is little you can do to quicken the process of modification. Wait for their response and keep in touch with them. In the meantime, keep saving as much money as possible so you can make your payments once your loan has been modified.
keep patience & be in touch with them
jenkin7
I woudl say ti can vary from bank to bank and also person to person
good luck
I woudl say ti can vary from bank to bank and also person to person
good luck
Did countrywide accept your loan modification request? If not, then it's high time that you should contact Countrywide and ask for updates. In case, if your lender does not accept your loan modification request, you will have to pay off the past due amount to the lender and get the loan current. Or else, there's a chance that the lender would restart the foreclosure procedure.