Loan Modification Forum - LoanSafe.org - View Single Post - Greenpoint loan given to Countrywide during modification process

alamar · 12-18-2008, 08:21 PM

This an update on my original posting.
We have since moved over to Countrywide and they tell me they haven't received anything not even the appraisal and they never will (they were very sure of that). I then started a whole new loan mod application over the phone despite the fact our original application with Greenpoint began in May 2008. Once he entered all the figures the computer told him we earned too much money. However, that is only because I have canceled our health insurance, IRA, cable, only buy from the thrift, never go out, scrimp on groceries etc. My sister told me that there are 3 things that they look at when determining whether we are eligible: 1. hardship (5 months unemployed last year and we are not eligible for unemployment benefit) 2. a mortgage with a rate over 6% (our 1st is at 7% and 2nd is at 8.5% above prime) and 3. an arm that is going to adjust and be unaffordable. Therefore, do we stand a chance? at the end of my expenses sheet I have $1300 left for health insurance etc. I explained that we may be able to afford it usually but we are now 2 months behind and are working on a contract from the beginning of December that doesn't pay until the end of January. We can actually get current at that point or on the next payday at the end of February.I would love a bit of advice and support if there is any out there.

12-18-2008, 08:21 PM	#3 (permalink)
alamar Member Join Date: Nov 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Greenpoint loan given to Countrywide during modification process This an update on my original posting. We have since moved over to Countrywide and they tell me they haven't received anything not even the appraisal and they never will (they were very sure of that). I then started a whole new loan mod application over the phone despite the fact our original application with Greenpoint began in May 2008. Once he entered all the figures the computer told him we earned too much money. However, that is only because I have canceled our health insurance, IRA, cable, only buy from the thrift, never go out, scrimp on groceries etc. My sister told me that there are 3 things that they look at when determining whether we are eligible: 1. hardship (5 months unemployed last year and we are not eligible for unemployment benefit) 2. a mortgage with a rate over 6% (our 1st is at 7% and 2nd is at 8.5% above prime) and 3. an arm that is going to adjust and be unaffordable. Therefore, do we stand a chance? at the end of my expenses sheet I have $1300 left for health insurance etc. I explained that we may be able to afford it usually but we are now 2 months behind and are working on a contract from the beginning of December that doesn't pay until the end of January. We can actually get current at that point or on the next payday at the end of February.I would love a bit of advice and support if there is any out there.