Comments for Loan Modification Central http://myloanmodificationcenter.com/blog The Complete Loan Modification Guide Thu, 11 Mar 2010 22:55:50 +0000 http://wordpress.org/?v=2.6 Comment on Loan Modification Success Story-Persistence Pays Off! by Laurie http://myloanmodificationcenter.com/blog/loan-modification-success-story-persistence-pays-off/#comment-1836 Laurie Thu, 11 Mar 2010 06:46:23 +0000 http://myloanmodificationcenter.com/blog/?page_id=63#comment-1836 Sonya, I am so sorry it took me so long to come back to this blog......I actually check this other website I found by typing in the words " Chase Loan Mod nightmare" I am still in my house....but the battle still continues with Chase...two and a half years now since I was originally approved for my loan Mod. and I have experienced every bad thing that can happen in a loan Mod...they lost my original Mod....and if I didnt have a copy...they would never even acknowledged it existed, I am sure...they only sent me one copy...thank God I made my own copy before sending it back...I have sent in more applications then I care to count..I have sat on hold for at least an hour many times...I have been through a few months were I was talking with one person in special lending that was working on my case..he returned every phone call I made to him and I called him alot...he saw when it was me calling a literally answere the phone.."Hi Laurie"..and when I wasnt getting any resolution I called Jamie Dimons office and gave them my loan number....my name and my phone number...and when I was contacted by one of the executive team members...he called my file a disaster...worst case senario he had seen in the loan mod process...he basically told me because my case was so "special" and not in a good way..that I was only to speak with the executive team and the one guy in special lending. while they sorted out my mess...I did make some headway at times...but it has been the most time consuming, energy depleting battles of will and resolve that I have ever encountered.at present I am in another bad chapter of the loan mod saga...they finally put me in a three month trial period......that was supposed to become permanat after I complied with the terms for the three months......surprise!! still no resolution and I am in month 6 of my 3 month trial period...all the while each month I pay exactly what they are asking me to pay....I am falling further behind, not because I am not payijng...but in my veiw, because they have never fixed the mistakes they admittedly made..and I still have no idea how this will eventually play out....but I still refuse to lose my house because they broke me..or because I quit the fight...as long as there is still a fight...I am in it...and I still have hope that I could even win it....heres my home phone..if my experience so far can help anyone in anyway..I am willing to share.....760 489-9261 Sonya,
I am so sorry it took me so long to come back to this blog……I actually check this other website I found by typing in the words ” Chase Loan Mod nightmare” I am still in my house….but the battle still continues with Chase…two and a half years now since I was originally approved for my loan Mod. and I have experienced every bad thing that can happen in a loan Mod…they lost my original Mod….and if I didnt have a copy…they would never even acknowledged it existed, I am sure…they only sent me one copy…thank God I made my own copy before sending it back…I have sent in more applications then I care to count..I have sat on hold for at least an hour many times…I have been through a few months were I was talking with one person in special lending that was working on my case..he returned every phone call I made to him and I called him alot…he saw when it was me calling a literally answere the phone..”Hi Laurie”..and when I wasnt getting any resolution I called Jamie Dimons office and gave them my loan number….my name and my phone number…and when I was contacted by one of the executive team members…he called my file a disaster…worst case senario he had seen in the loan mod process…he basically told me because my case was so “special” and not in a good way..that I was only to speak with the executive team and the one guy in special lending. while they sorted out my mess…I did make some headway at times…but it has been the most time consuming, energy depleting battles of will and resolve that I have ever encountered.at present I am in another bad chapter of the loan mod saga…they finally put me in a three month trial period……that was supposed to become permanat after I complied with the terms for the three months……surprise!! still no resolution and I am in month 6 of my 3 month trial period…all the while each month I pay exactly what they are asking me to pay….I am falling further behind, not because I am not payijng…but in my veiw, because they have never fixed the mistakes they admittedly made..and I still have no idea how this will eventually play out….but I still refuse to lose my house because they broke me..or because I quit the fight…as long as there is still a fight…I am in it…and I still have hope that I could even win it….heres my home phone..if my experience so far can help anyone in anyway..I am willing to share…..760 489-9261

]]> Comment on Chase Loan Modification-7 Important TIPS by Michelle http://myloanmodificationcenter.com/blog/chase-loan-modification-6-important-tips/#comment-1832 Michelle Wed, 10 Mar 2010 06:21:06 +0000 http://myloanmodificationcenter.com/blog/?p=231#comment-1832 Here's my story...I sent in all my paperwork for the making home affordable w/Chase end of November/09. The middle of Dec I get a letter stating their was a shortage in our escrow acct and the payment will increase $600 per month if we cant come up w/$4500 to cover the shortage. I made a regular payment for December and stopped making my house payment from Jan/10 till present. I called every 1-2 weeks to see if Chase had made a decision and nothing...2 weeks ago I call Chase and they tell me I've been denied, no explanation why and then they transfer me to the collection deparment who basically make a payment arrangment w/me. The Rep who was actually pretty nice told me I what I needed to pay for March, April and May and said after I have made those payments Chase would come up w/a permanent solution which could be lower the interest and put the negative balance to the back of the loan, etc. I received the forebearance paper work in the mail yesterday and it stated the 3 pymt's the rep told me about and then a balloon payment of $5000 for a 4th payment that no one mentioned. I am furious at how they are not helping my situation at all. What they are doing is basically making an arrangement for the balance we owe...do they not understand that my husband lost his job and the increase in payment due to their calculating our pymt incorrectly has made it hard for us to pay. If I had the money I wouldnt be behind or need the help! Im not sure how they feel in 3 months I can pay $5000 addl when our income has decreased and finding a job isnt as easy as it used to be. Anyone else had this problem or advice they can give me? Here’s my story…I sent in all my paperwork for the making home affordable w/Chase end of November/09. The middle of Dec I get a letter stating their was a shortage in our escrow acct and the payment will increase $600 per month if we cant come up w/$4500 to cover the shortage. I made a regular payment for December and stopped making my house payment from Jan/10 till present. I called every 1-2 weeks to see if Chase had made a decision and nothing…2 weeks ago I call Chase and they tell me I’ve been denied, no explanation why and then they transfer me to the collection deparment who basically make a payment arrangment w/me. The Rep who was actually pretty nice told me I what I needed to pay for March, April and May and said after I have made those payments Chase would come up w/a permanent solution which could be lower the interest and put the negative balance to the back of the loan, etc. I received the forebearance paper work in the mail yesterday and it stated the 3 pymt’s the rep told me about and then a balloon payment of $5000 for a 4th payment that no one mentioned. I am furious at how they are not helping my situation at all. What they are doing is basically making an arrangement for the balance we owe…do they not understand that my husband lost his job and the increase in payment due to their calculating our pymt incorrectly has made it hard for us to pay. If I had the money I wouldnt be behind or need the help! Im not sure how they feel in 3 months I can pay $5000 addl when our income has decreased and finding a job isnt as easy as it used to be. Anyone else had this problem or advice they can give me?

]]> Comment on Loan Modification-IndyMac Program Guidelines Q & A by D.J. Clark http://myloanmodificationcenter.com/blog/loan-modification-indymac-program-guidelines-q-a/#comment-1828 D.J. Clark Tue, 09 Mar 2010 14:55:44 +0000 http://myloanmodificationcenter.com/blog/?p=131#comment-1828 These people are located in Kalamazoo, Michigan. Let the better business bureau there know. So far there are no complaints. Name: IndyMac Bank - All locations Phone: (800) 781-7399 Fax: (269) 353-2490 Address: 6900 Beatrice Dr Kalamazoo, MI 49009-9559 Website: http://www.indymacbank.com Principal: Ms. V. Lyn Niles, Customer Service Manager Customer Contact: Ms. V. Lyn Niles, Customer Service Manager - (800) 781-7399 File Open Date: February 2001 Type of Business: Banks, Mortgage Brokers BBB Accreditation: This company is not a BBB Accredited business. Additional DBA Names: IndyMac Inc. These people are located in Kalamazoo, Michigan. Let the better business bureau there know. So far there are no complaints. Name: IndyMac Bank - All locations
Phone: (800) 781-7399
Fax: (269) 353-2490
Address: 6900 Beatrice Dr

Kalamazoo, MI 49009-9559
Website: http://www.indymacbank.com
Principal: Ms. V. Lyn Niles, Customer Service Manager
Customer Contact: Ms. V. Lyn Niles, Customer Service Manager - (800) 781-7399
File Open Date: February 2001
Type of Business: Banks, Mortgage Brokers
BBB Accreditation: This company is not a BBB Accredited business.
Additional DBA Names: IndyMac Inc.

]]> Comment on Loan Modification-IndyMac Program Guidelines Q & A by GC http://myloanmodificationcenter.com/blog/loan-modification-indymac-program-guidelines-q-a/#comment-1785 GC Wed, 03 Mar 2010 05:53:03 +0000 http://myloanmodificationcenter.com/blog/?p=131#comment-1785 I feel better to know that there are so many others out there being royally screwed over by Indy mac. We have been trying for a loan modification for almost 2yrs now..and we keep getting the run around everytime I would call to see what the status of the mod was. I was always told the same thing.."it is still in review" so my mod has been in review for almost 2yrs now..ummm ok. Of course though, we will still continuously get the loan mod packets to fill out and send back. Indy Mac is completely clueless of anything that is going on..I am sure that when they get everyone's loan mod packets through the mail or fax..they have some teenagers in the back shredding everything so they have no signs of evidence. That just allows them to tell everyone that calls to check on the status of their mods..that they never received anything and they can continue the foreclosure processes faster. They are a waste of space..but you know..don't give up..keep fighting till you have no other choice but to give up. This is your home you are trying to save, do not let some scum dwellers rob you of that dream. Keep pushing and we need to get a class action lawsuit going..we need to take these idiots down once and for all. I want to see them lose their homes, then they will know how it feels. Thanks. I feel better to know that there are so many others out there being royally screwed over by Indy mac. We have been trying for a loan modification for almost 2yrs now..and we keep getting the run around everytime I would call to see what the status of the mod was. I was always told the same thing..”it is still in review” so my mod has been in review for almost 2yrs now..ummm ok. Of course though, we will still continuously get the loan mod packets to fill out and send back. Indy Mac is completely clueless of anything that is going on..I am sure that when they get everyone’s loan mod packets through the mail or fax..they have some teenagers in the back shredding everything so they have no signs of evidence. That just allows them to tell everyone that calls to check on the status of their mods..that they never received anything and they can continue the foreclosure processes faster. They are a waste of space..but you know..don’t give up..keep fighting till you have no other choice but to give up. This is your home you are trying to save, do not let some scum dwellers rob you of that dream. Keep pushing and we need to get a class action lawsuit going..we need to take these idiots down once and for all. I want to see them lose their homes, then they will know how it feels. Thanks.

]]> Comment on Loan Modification-IndyMac Program Guidelines Q & A by Gabe http://myloanmodificationcenter.com/blog/loan-modification-indymac-program-guidelines-q-a/#comment-1784 Gabe Wed, 03 Mar 2010 04:48:25 +0000 http://myloanmodificationcenter.com/blog/?p=131#comment-1784 For so many people being cheated and lied to,has anyone tried 7 on your side,CNN Money matters etc.Does anyone one have a family member that works for Indy Mac or One West Bank that can give us some insight on how to streamline thisor to even tell us that all this action we do is for naught? Count me in for a class action lawsuit.boatmandr@yahoo.com For so many people being cheated and lied to,has anyone tried 7 on your side,CNN Money matters etc.Does anyone one have a family member that works for Indy Mac or One West Bank that can give us some insight on how to streamline thisor to even tell us that all this action we do is for naught? Count me in for a class action lawsuit.boatmandr@yahoo.com

]]> Comment on Wilshire Credit Corporation Loan Modification-Details of Federal Plan by Caroline Ellison http://myloanmodificationcenter.com/blog/wilshire-credit-corporation-loan-modification-details-of-federal-plan/#comment-1783 Caroline Ellison Wed, 03 Mar 2010 03:55:03 +0000 http://myloanmodificationcenter.com/blog/?p=1024#comment-1783 COMPLAINT!!! I started a loan mod in September! I have called at least once a week, sometimes twice a week to check the status of the mod. I never got any other answer than," It's in review, and we will let you know one way or another if it is approved or not." So, as of March 1st, they have sold my loan to Bank of America and have also turned me over to forclosure. I feel so stuck and I feel like I was taken for a ride by Wilshire. They told me that the review process was taking anywhere from 30-60 business days.... What was the wait? Why did they keep me hanging for nearly 6 months? COMPLAINT!!! I started a loan mod in September! I have called at least once a week, sometimes twice a week to check the status of the mod. I never got any other answer than,” It’s in review, and we will let you know one way or another if it is approved or not.” So, as of March 1st, they have sold my loan to Bank of America and have also turned me over to forclosure. I feel so stuck and I feel like I was taken for a ride by Wilshire. They told me that the review process was taking anywhere from 30-60 business days…. What was the wait? Why did they keep me hanging for nearly 6 months?

]]> Comment on Chase Loan Modification-7 Important TIPS by admin http://myloanmodificationcenter.com/blog/chase-loan-modification-6-important-tips/#comment-1770 admin Mon, 01 Mar 2010 15:11:50 +0000 http://myloanmodificationcenter.com/blog/?p=231#comment-1770 OWB - Indymac bank just modified a jumbo loan with unbelievable terms! 10 year interest only with a 2% interest rate and over $250,000 in deferred principal. This homeowner was able to save her home with a very aggressive loan workout from Indymac-OWB that blew me away. This is not HAMP or Obamas loan modification plan-this is an in house program and the terms are very affordable for this homeowner. She had a sale date already and was facing losing her home, but she reapplied with an updated budget she prepared using the Loan Mod Quick App software program. Indymac came back this unbelievable loan modification and she is now able to easily afford her mortgage payment. I guess miracles can happen-unfortunately not often enough though for the majority of homeowners. The lesson here is to not give up and make sure your loan modification application is prepared correctly. OWB - Indymac bank just modified a jumbo loan with unbelievable terms! 10 year interest only with a 2% interest rate and over $250,000 in deferred principal. This homeowner was able to save her home with a very aggressive loan workout from Indymac-OWB that blew me away. This is not HAMP or Obamas loan modification plan-this is an in house program and the terms are very affordable for this homeowner.
She had a sale date already and was facing losing her home, but she reapplied with an updated budget she prepared using the Loan Mod Quick App software program. Indymac came back this unbelievable loan modification and she is now able to easily afford her mortgage payment. I guess miracles can happen-unfortunately not often enough though for the majority of homeowners.
The lesson here is to not give up and make sure your loan modification application is prepared correctly.

]]> Comment on Loan Modification-IndyMac Program Guidelines Q & A by admin http://myloanmodificationcenter.com/blog/loan-modification-indymac-program-guidelines-q-a/#comment-1761 admin Thu, 25 Feb 2010 20:30:34 +0000 http://myloanmodificationcenter.com/blog/?p=131#comment-1761 I really don't think you should give up on your Indymac loan modification yet. I know it is frustrating but every day I hear from homeowners who are getting the Obama plan and a very low monthly payment. It is critical that you understand the federal formula used to determine if you qualify and then use this very same formula when you prepare your financial statement. If you just guess at what the requirements are you really don't stand much of a chance of getting an Indymac loan modification. I designed the Loan Mod Quick APP to give homeowners the inside information they need so that they can make adjustments to their budget before the bank ever reviews it. If you only need to make a minor adjustment to your financial statement to qualify, wouldn't you want to know that now rather than after you have been declined? You must meet the debt ratio, asset ratio, target payment and other calculations in order to fit into Indymac's loan modification program. The Loan Mod Quick App figures all of this for you automatically-just input your income and expenses and it does the rest. You can see right away where you might need to fine tune your budget. There are hundreds of pages of free information on my blogs, and you can learn more about the Hamp guidelines-visit www.myloanmodificationcenter.com so you can be armed and ready-and have a fighting chance of success. I really don’t think you should give up on your Indymac loan modification yet. I know it is frustrating but every day I hear from homeowners who are getting the Obama plan and a very low monthly payment. It is critical that you understand the federal formula used to determine if you qualify and then use this very same formula when you prepare your financial statement.
If you just guess at what the requirements are you really don’t stand much of a chance of getting an Indymac loan modification.
I designed the Loan Mod Quick APP to give homeowners the inside information they need so that they can make adjustments to their budget before the bank ever reviews it. If you only need to make a minor adjustment to your financial statement to qualify, wouldn’t you want to know that now rather than after you have been declined?
You must meet the debt ratio, asset ratio, target payment and other calculations in order to fit into Indymac’s loan modification program. The Loan Mod Quick App figures all of this for you automatically-just input your income and expenses and it does the rest. You can see right away where you might need to fine tune your budget.
There are hundreds of pages of free information on my blogs, and you can learn more about the Hamp guidelines-visit http://www.myloanmodificationcenter.com so you can be armed and ready-and have a fighting chance of success.

]]> Comment on Loan Modification-IndyMac Program Guidelines Q & A by Andy Fisher http://myloanmodificationcenter.com/blog/loan-modification-indymac-program-guidelines-q-a/#comment-1759 Andy Fisher Wed, 24 Feb 2010 21:52:49 +0000 http://myloanmodificationcenter.com/blog/?p=131#comment-1759 I have finally given up hope of getting a loan modification after over 1 year of trying to save my home. In Novemeber of 08 I lost my job and fell behind on the loan payments. In February of 09 I was rehired and immediatly began trying to modify my loan. I have filled out and sent over 4 financial packets, two loan modification periods and faxed paystubs and job letters along with spent countless hours on the telephone with one west bank and still have nothing. I MADE MY PAYMENTS ON TIME AND FILLED ALL REQUIRED DOCUMENTATION AND STILL HAVE NO RESOLUTION. I have been "under review" since november when I was denied for "not providing proper documentation" even though i did everything right. My theory is that Indymac/Onewest is trying to stall. The new investors purchased these mortgages for such a discount that if we all go bad they will make a fortune. They have no interest in helping us and want us to foreclose. My house is $100k upside down and based on what they purchased my mortgage for from the FDIC they will still make a pretty penny when I foreclose. I don't care about the money...I just want the home my wife and I dreamed about and have the ability and want to pay for it. I called in again today and heard the same story I have for the past year...no one really tells you anything just generalizes everything. I said when this started that I would do everything I could to stay in my home...but I am giving up...I SURRENDER...TAKE YOUR PROFITS AND KNOW THAT THERE ARE FAMILIES AND DREAMS THAT YOU DESTROY WHEN YOU DO!!! I have finally given up hope of getting a loan modification after over 1 year of trying to save my home. In Novemeber of 08 I lost my job and fell behind on the loan payments. In February of 09 I was rehired and immediatly began trying to modify my loan. I have filled out and sent over 4 financial packets, two loan modification periods and faxed paystubs and job letters along with spent countless hours on the telephone with one west bank and still have nothing. I MADE MY PAYMENTS ON TIME AND FILLED ALL REQUIRED DOCUMENTATION AND STILL HAVE NO RESOLUTION. I have been “under review” since november when I was denied for “not providing proper documentation” even though i did everything right.
My theory is that Indymac/Onewest is trying to stall. The new investors purchased these mortgages for such a discount that if we all go bad they will make a fortune. They have no interest in helping us and want us to foreclose. My house is $100k upside down and based on what they purchased my mortgage for from the FDIC they will still make a pretty penny when I foreclose. I don’t care about the money…I just want the home my wife and I dreamed about and have the ability and want to pay for it.
I called in again today and heard the same story I have for the past year…no one really tells you anything just generalizes everything. I said when this started that I would do everything I could to stay in my home…but I am giving up…I SURRENDER…TAKE YOUR PROFITS AND KNOW THAT THERE ARE FAMILIES AND DREAMS THAT YOU DESTROY WHEN YOU DO!!!

]]> Comment on Chase Loan Modification-7 Important TIPS by admin http://myloanmodificationcenter.com/blog/chase-loan-modification-6-important-tips/#comment-1757 admin Tue, 23 Feb 2010 15:52:56 +0000 http://myloanmodificationcenter.com/blog/?p=231#comment-1757 If you guys want to really get the steam coming out of your ears about Indymac loan modifications and why they do not help very many homeowners, watch this video and get some insight onto why Indymac-OWB posted a $1.5 BILLION dollar profit last year! Aren’t you glad your tax dollars are hard at work? Watch the 1st 4 ½ min of this. http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1449076 This is unbelievable but true- Indymac loan modifications are just not being done because OWB makes millions of dollars on each short sale or foreclosure. The FDIC set up a deal with Indymac & OWB so that they are incentivized to take homes from borrowers instead of helping them. I don't think this is what Obama had in mind when he launched Making Home Affordable. Once again it's all about the banks and the homeowners get the shaft. You won't believe the sweetheart deal that the Indymac boys were given by the FDIC. If you guys want to really get the steam coming out of your ears about Indymac loan modifications and why they do not help very many homeowners, watch this video and get some insight onto why Indymac-OWB posted a $1.5 BILLION dollar profit last year!

Aren’t you glad your tax dollars are hard at work? Watch the 1st 4 ½ min of this.

http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1449076

This is unbelievable but true- Indymac loan modifications are just not being done because OWB makes millions of dollars on each short sale or foreclosure. The FDIC set up a deal with Indymac & OWB so that they are incentivized to take homes from borrowers instead of helping them. I don’t think this is what Obama had in mind when he launched Making Home Affordable. Once again it’s all about the banks and the homeowners get the shaft.

You won’t believe the sweetheart deal that the Indymac boys were given by the FDIC.

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