Posted on: 06th May, 2009 08:35 am
I submitted the required home modification documentation to Wells Fargo on April 14th. They sent a temporary finnancial hardship letter - offering us a payment of $700 less per month for 6 months. After 6 months we are to call back and give them our financials. If we are not offered a loan modification at that time we have to pay back $6,900. I have spoke with Loss Litigation several times - every time I get a new person with a different answer. One told me they were scanning our file for possible loan modification, another person said this information is incorrect. Another said their negotiator came up with this reduced payment plan - I know this didn't make it to a negotiator - a Loss Litigation person which turned out to be someone in the collections dept talked to me about this plan. My husband is self employed and his income is down 38%. We paid $410,000 for our house in November 2007 - a model match sold on the next block last week - $279,000. What should I do - their offer is only a temporary fix and we won't be able to pay back $6,900. We have never been late on our payments.
With all your horror mtge. stories, who is out there to help fix the problem. Any rescue from the Prog. to look into the ;enders' process of HAMP.
H E L P U S PLEASE, I am one of you. Thank you.
H E L P U S PLEASE, I am one of you. Thank you.
Hi Guest!
Welcome to forums!
You should contact your lender in order to get HAMP. It is your present lender who will help you in getting it if you meet the required criteria.
Sussane
Welcome to forums!
You should contact your lender in order to get HAMP. It is your present lender who will help you in getting it if you meet the required criteria.
Sussane
I'm not so sure all foreclosure attorneys actually know anything... in fact to many of them do not. Hence why FTC rules have changed no more up front fees to borrowers who seek assistance.
People make things to hard: a loan modification is really no different then refinancing your home. You provide the most two important things to the lender: income and assets.
Perhaps it is the American way not to think and take the time to educate our selves and that is why we want everyone else to fix our problems or blame everyone else for them. I certainly do not get it. If I cannot figure something out I look for the answer. After all who best to help me than me! Understanding most people do not have the time, but in reality you do. YOU HAVE TO MAKE THE TIME .
People make things to hard: a loan modification is really no different then refinancing your home. You provide the most two important things to the lender: income and assets.
Perhaps it is the American way not to think and take the time to educate our selves and that is why we want everyone else to fix our problems or blame everyone else for them. I certainly do not get it. If I cannot figure something out I look for the answer. After all who best to help me than me! Understanding most people do not have the time, but in reality you do. YOU HAVE TO MAKE THE TIME .
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