Loan Modification Forum - LoanSafe.org - View Single Post - My monthly deficit too high to get a mod?

ZAP09 · 06-09-2009, 09:50 PM

Dear ***-
I am not sure how to contact you directly within this forum, so I am interjecting here. You seem so very knowledgable about the modification processes, do you by chance work at the law office affiliated with this site, as I am definitely leaning toward seeking professional/legal help at this point. I was about to make my 2nd (of 3)"repayment agreement" payment with Wells and I got a letter today stating I am "denied" a modification. I called and they said guidelines for the investor are not met. I am currently showing a $272.00 surplus each month. the rep I spoke to led me to believe my "expenses are too high". Where do these numbers need to be? I can go to my employer and beg for help perhaps. The rep also said that I am no longer in the "repayment plan/3month trial period" and moving toward foreclosure. I checked out your link on another thread detailing the government requirements, I have to admit this went over my head. I am feeling pretty hopeless at this point. I will call the exec. offices in the morning to confirm my dire straits, but I don't know where to turn. The rep did mention resubmitting my financials but I am clueless as to what would create the likelyhood of a modification. Could it be that my investor doesn't even offer modifications? Why would they want this upside down property, instead of a reasonable new payment from dual income home? I am missing something...please advise, but *** can you please keep it simple-I am new at this.

06-09-2009, 09:50 PM	#10 (permalink)
ZAP09 Senior Member Join Date: May 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Wells Fargo Success....maybe?? Dear *- I am not sure how to contact you directly within this forum, so I am interjecting here. You seem so very knowledgable about the modification processes, do you by chance work at the law office affiliated with this site, as I am definitely leaning toward seeking professional/legal help at this point. I was about to make my 2nd (of 3)"repayment agreement" payment with Wells and I got a letter today stating I am "denied" a modification. I called and they said guidelines for the investor are not met. I am currently showing a $272.00 surplus each month. the rep I spoke to led me to believe my "expenses are too high". Where do these numbers need to be? I can go to my employer and beg for help perhaps. The rep also said that I am no longer in the "repayment plan/3month trial period" and moving toward foreclosure. I checked out your link on another thread detailing the government requirements, I have to admit this went over my head. I am feeling pretty hopeless at this point. I will call the exec. offices in the morning to confirm my dire straits, but I don't know where to turn. The rep did mention resubmitting my financials but I am clueless as to what would create the likelyhood of a modification. Could it be that my investor doesn't even offer modifications? Why would they want this upside down property, instead of a reasonable new payment from dual income home? I am missing something...please advise, but * can you please keep it simple-I am new at this.