Comments for Loan Modification Central http://myloanmodificationcenter.com/blog The Complete Loan Modification Guide Sat, 04 Feb 2012 09:17:06 +0000 hourly 1 http://wordpress.org/?v=3.0 Comment on Wells Fargo Loan Modification So Difficult to Get-One Way to Beat the Bank by Dario http://myloanmodificationcenter.com/blog/wells-fargo-loan-modification-so-difficult-to-get-one-way-to-beat-the-bank/#comment-7264 Dario Sat, 04 Feb 2012 09:17:06 +0000 http://myloanmodificationcenter.com/blog/?p=3140#comment-7264 I want to thank you very much for the job you have made in writing this blog post. I am hoping the same effective work by you later on as well. I want to thank you very much for the job you have made in writing this blog post. I am hoping the same effective work by you later on as well.

]]> Comment on Chase Loan Modification-7 Important TIPS by Mark http://myloanmodificationcenter.com/blog/chase-loan-modification-6-important-tips/#comment-7248 Mark Thu, 02 Feb 2012 16:02:25 +0000 http://myloanmodificationcenter.com/blog/?p=231#comment-7248 After some thought about this situation it occurred to my why the bank would do this. They want to take an already under water loan and put it further under water to eliminate any possibility of a future refinance. Be careful out there people. The banks are doing a bait and switch and unless you look carefully, they will burn you again. After some thought about this situation it occurred to my why the bank would do this. They want to take an already under water loan and put it further under water to eliminate any possibility of a future refinance. Be careful out there people. The banks are doing a bait and switch and unless you look carefully, they will burn you again.

]]> Comment on How does a Loan Modification Affect Your Credit? by katie http://myloanmodificationcenter.com/blog/how-does-a-loan-modification-affect-your-credit/#comment-7234 katie Wed, 01 Feb 2012 16:00:25 +0000 http://myloanmodificationcenter.com/blog/?page_id=51#comment-7234 I did a loan modification last year, it took me about 8 months to go thru the process. I applied the first time and they denied it, and i believe it was because my income was not enough for the 31% of income for only mortgage. Then i applied again and made some adjustments to the paper work, i claim that i had renters which was my mom and husband which they included as an income and send some checks that i received for rent from them. Around a month later they qualified me for a 3 month trial. i did all my trial payments on time. By the way all the time that i was thru the process i did not miss a payment ever. Still kept doing my original payments until i started paying the trial payments which was $800 less. So i kept doing my trial payments until the 4th month because the underwriter was still reviewing my application. then i got a call from the eminent default from Chase and they told my i had qualified and they were just waiting for the underwriter to send me a letter. By June it was my first modified payment, which i took initiative and sent the payment before June 1st. 2 weeks later i received a call stating that i had not done the first payment. all day was doing calls to the bank thru all this dept.: customer service, eminent dafault..etc. and then at the end they informed me that the check was on hold thru the eminent default department, don't know why. So then they stated they will cash it and clear it off. i ask the customer service if this will affect my credit and she said no. I just check my credit score 2 weeks ago my scores where not affected at all, actually i had higher scores than ever, don't know if this had to do with me paying off my car. But i have a friend in the lender side for homes and she said that the banks when they check your credit report they go thru other agency which i have never heard about. and she checked mine and found out i have a delinquency to be dispute thru Chase. So i suppose it was related to what had happen thru my 1st month payment. I called my bank and they suggested to fax a letter to the research department to research why i have that claim under my credit report. I did as they said 2 weeks ago and i just received a letter that my payments have been on time and that they will clear it off with the credit beaureus. the point is that you have to insist and be calling the banks, and will suggest to be polite. i know is hard but that way you get more help from them. I did a loan modification last year, it took me about 8 months to go thru the process. I applied the first time and they denied it, and i believe it was because my income was not enough for the 31% of income for only mortgage. Then i applied again and made some adjustments to the paper work, i claim that i had renters which was my mom and husband which they included as an income and send some checks that i received for rent from them. Around a month later they qualified me for a 3 month trial. i did all my trial payments on time. By the way all the time that i was thru the process i did not miss a payment ever. Still kept doing my original payments until i started paying the trial payments which was $800 less. So i kept doing my trial payments until the 4th month because the underwriter was still reviewing my application. then i got a call from the eminent default from Chase and they told my i had qualified and they were just waiting for the underwriter to send me a letter. By June it was my first modified payment, which i took initiative and sent the payment before June 1st. 2 weeks later i received a call stating that i had not done the first payment. all day was doing calls to the bank thru all this dept.: customer service, eminent dafault..etc. and then at the end they informed me that the check was on hold thru the eminent default department, don’t know why. So then they stated they will cash it and clear it off. i ask the customer service if this will affect my credit and she said no.

I just check my credit score 2 weeks ago my scores where not affected at all, actually i had higher scores than ever, don’t know if this had to do with me paying off my car. But i have a friend in the lender side for homes and she said that the banks when they check your credit report they go thru other agency which i have never heard about. and she checked mine and found out i have a delinquency to be dispute thru Chase. So i suppose it was related to what had happen thru my 1st month payment. I called my bank and they suggested to fax a letter to the research department to research why i have that claim under my credit report. I did as they said 2 weeks ago and i just received a letter that my payments have been on time and that they will clear it off with the credit beaureus.

the point is that you have to insist and be calling the banks, and will suggest to be polite. i know is hard but that way you get more help from them.

]]> Comment on Wells Fargo Loan Modification Income Requirement Formula-How Much Money You Need To Show by len passofaro http://myloanmodificationcenter.com/blog/wells-fargo-loan-modification-income-requirement-formula-how-much-money-you-need-to-show/#comment-7130 len passofaro Fri, 27 Jan 2012 14:19:16 +0000 http://myloanmodificationcenter.com/blog/?p=3296#comment-7130 will this work on a mac? thank you will this work on a mac? thank you

]]> Comment on Wachovia Loan Modification Sham & The Pick A Payment Lawsuit by Ana http://myloanmodificationcenter.com/blog/wachovia-loan-modification-sham-the-pick-a-payment-lawsuit/#comment-7104 Ana Thu, 26 Jan 2012 05:57:47 +0000 http://myloanmodificationcenter.com/blog/?p=2799#comment-7104 ok!!! I can do modification,but what with the money I arleady payed to the bank !!! I lost 9 yrs!!! Now I can do modification on 30 yrs again!!! ok!!! I can do modification,but what with the money I arleady payed to the bank !!! I lost 9 yrs!!! Now I can do modification on 30 yrs again!!!

]]> Comment on Indymac Loan Modification Calculator Designed to Help Borrowers With Application Requirements by Procure http://myloanmodificationcenter.com/blog/indymac-loan-modification-calculator-designed-to-help-borrowers-with-application-requirements/#comment-7063 Procure Tue, 24 Jan 2012 06:39:05 +0000 http://myloanmodificationcenter.com/blog/?p=3300#comment-7063 I've been exploring for a bit for any high-quality articles or weblog posts in this kind of area . Exploring in Yahoo I at last stumbled upon this web site. Reading this info So i'm glad to express that I have an incredibly good uncanny feeling I discovered exactly what I needed. I most undoubtedly will make certain to don?t overlook this website and give it a glance on a relentless basis. I’ve been exploring for a bit for any high-quality articles or weblog posts in this kind of area . Exploring in Yahoo I at last stumbled upon this web site. Reading this info So i’m glad to express that I have an incredibly good uncanny feeling I discovered exactly what I needed. I most undoubtedly will make certain to don?t overlook this website and give it a glance on a relentless basis.

]]> Comment on How does a Loan Modification Affect Your Credit? by renee http://myloanmodificationcenter.com/blog/how-does-a-loan-modification-affect-your-credit/#comment-7059 renee Tue, 24 Jan 2012 01:02:49 +0000 http://myloanmodificationcenter.com/blog/?page_id=51#comment-7059 After two years and 3 months, we finally got a loan modification from Chase that reduced our mortgage by approximately $16.000.00. It took a lot of patience and many time we wanted to give up. I have a book of paperwork I've sent them and it was often lost or we were dropped from the program because they claim they never received a document...it was a mess. We were dropped from the program 3 times and was even told we were dropped because the phone numbers we had on file were do not call numbers. I felt like they wanted me to give up, but I refused expecially when in the beginning it was so unorganized and every month our file had been given to another representative. The best advise I can give is to keep a book and log sheet on all the documents you send and the name of the person you spoke with. Stay on top of your phone calls and even is they drop you from the program you may have other options. We didn't qualify for the Obama program, but Chase had a program that worked for us. Good luck. After two years and 3 months, we finally got a loan modification from Chase that reduced our mortgage by approximately $16.000.00. It took a lot of patience and many time we wanted to give up. I have a book of paperwork I’ve sent them and it was often lost or we were dropped from the program because they claim they never received a document…it was a mess. We were dropped from the program 3 times and was even told we were dropped because the phone numbers we had on file were do not call numbers. I felt like they wanted me to give up, but I refused expecially when in the beginning it was so unorganized and every month our file had been given to another representative. The best advise I can give is to keep a book and log sheet on all the documents you send and the name of the person you spoke with. Stay on top of your phone calls and even is they drop you from the program you may have other options. We didn’t qualify for the Obama program, but Chase had a program that worked for us. Good luck.

]]> Comment on Wells Fargo HAMP Loan Modification Mistakes Cause Denial by admin http://myloanmodificationcenter.com/blog/wells-fargo-hamp-loan-modification-mistakes-cause-denial/#comment-7018 admin Fri, 20 Jan 2012 19:56:05 +0000 http://myloanmodificationcenter.com/blog/?p=2586#comment-7018 No one is trying to CHEAT the system, but if a homeowner knows how they need to adjust their monthly budget in order to save their home, that is certainly something they should have access to. Let's face it, most borrowers would gladly cut down on their various expenses if they knew that would help them get approved for a loan mod. Maybe they need to get a second job or to get a room mate, but if they don't know that ahead of time, that then they won't be given the chance to do what it takes to save their home. Why shouldn't the borrower be told exactly how much income they need to qualify? They have to prove any income they report, so where's the cheating?? The stated goal of MHA is helping homeowners stay in their home-why not give them the information they need in order to have a good chance at actually qualifying for help? Foreclosures hurt everyone, and providing the tools necessary to help borrowers avoid this tragedy is the right thing to do. The banks should be providing this help already instead of keeping homeowners in the dark. No one is trying to CHEAT the system, but if a homeowner knows how they need to adjust their monthly budget in order to save their home, that is certainly something they should have access to. Let’s face it, most borrowers would gladly cut down on their various expenses if they knew that would help them get approved for a loan mod. Maybe they need to get a second job or to get a room mate, but if they don’t know that ahead of time, that then they won’t be given the chance to do what it takes to save their home. Why shouldn’t the borrower be told exactly how much income they need to qualify? They have to prove any income they report, so where’s the cheating?? The stated goal of MHA is helping homeowners stay in their home-why not give them the information they need in order to have a good chance at actually qualifying for help? Foreclosures hurt everyone, and providing the tools necessary to help borrowers avoid this tragedy is the right thing to do. The banks should be providing this help already instead of keeping homeowners in the dark.

]]> Comment on Wells Fargo HAMP Loan Modification Mistakes Cause Denial by MHA http://myloanmodificationcenter.com/blog/wells-fargo-hamp-loan-modification-mistakes-cause-denial/#comment-7000 MHA Thu, 19 Jan 2012 20:37:10 +0000 http://myloanmodificationcenter.com/blog/?p=2586#comment-7000 Giving the borrowers a calculator to cheat the system will not work. The borrower will have to prove income. Giving the borrowers a calculator to cheat the system will not work. The borrower will have to prove income.

]]> Comment on Wells Fargo HAMP Program Requirements-Loan Modification Hardship by Daniel Robinson http://myloanmodificationcenter.com/blog/wells-fargo-hamp-program-requirements-loan-modification-hardship/#comment-6946 Daniel Robinson Tue, 17 Jan 2012 19:30:45 +0000 http://myloanmodificationcenter.com/blog/?p=2996#comment-6946 The system is a complete and utter failure and scam. I started a Home Modification program March 1, 2010 and threw the towel in after 8 months of no decision or response from any person from Wells Fargo. Then, at Wells Fargo's suggestioin, I agreed to a mediation session to see if something could be worked out. I was told by HUD that a person of "decision making authority" would attend. The Mediation took place on December 1, 2011. Before the session, I was told that the WF rep would not be attending in person only by phone and that no decision would be made today on their behalf. This is a complete contradiction to what I was told by HUD. Then, during the mediation, the WF rep said she was missing paperwork which inlcuded an appraisal of the property. I told her I had it with me and sent it to her by email that very moment - which was received. Then I was told that WF did not recognize the appraisal and even though it had their name on the paperwork and their appraisal company issued the appraisal within the last 30 days, I was told a new "WF approved" appraisal would be done. At the end of the "mediation" session, I was told by the rep for WF that I would hear back from her with a decision on what WF could or would do within 10 business days. Again, that was December 1, 2011. It is now January 17th, 2012 and I have heard nothing. I have made 6 calls to the WF rep who attended the mediation and have never gotten her live. I have left messages each time with her and then with the person she recommended should be contacted if she was not available. I have also contacted the WF attorney on several occasions and have gotten nothing back from them as well. In my opinion this entire process screams scam..... The system is a complete and utter failure and scam. I started a Home Modification program March 1, 2010 and threw the towel in after 8 months of no decision or response from any person from Wells Fargo. Then, at Wells Fargo’s suggestioin, I agreed to a mediation session to see if something could be worked out. I was told by HUD that a person of “decision making authority” would attend. The Mediation took place on December 1, 2011. Before the session, I was told that the WF rep would not be attending in person only by phone and that no decision would be made today on their behalf. This is a complete contradiction to what I was told by HUD. Then, during the mediation, the WF rep said she was missing paperwork which inlcuded an appraisal of the property. I told her I had it with me and sent it to her by email that very moment – which was received. Then I was told that WF did not recognize the appraisal and even though it had their name on the paperwork and their appraisal company issued the appraisal within the last 30 days, I was told a new “WF approved” appraisal would be done.

At the end of the “mediation” session, I was told by the rep for WF that I would hear back from her with a decision on what WF could or would do within 10 business days. Again, that was December 1, 2011. It is now January 17th, 2012 and I have heard nothing. I have made 6 calls to the WF rep who attended the mediation and have never gotten her live. I have left messages each time with her and then with the person she recommended should be contacted if she was not available. I have also contacted the WF attorney on several occasions and have gotten nothing back from them as well.

In my opinion this entire process screams scam…..

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