As usual 12News Phoenix continues there great series about the problems of HAMP.
Friday 3/5/10 featured desperate women trying to get a B of A HAMP.
She had a $250,000 value and a $275,000 mortgage. But it was implied and the point of the segment was she was not far enough underwater to qualify.
Obviously this is the Net Present Value test problem but wasn't directly mentioned. BofA said she didn't qualify for HAMP but would consider for inhouse... sure....
Hope is part of the puzzle we've been missing but if that were true I should have been modded a loan time ago.
I think if you get to the point pay for a appraisal to be done, this happened to someone in here a while back low and behold got a appraisal to find out BoA's method was way off. BoA actually honord the appraisal and gave him a modification.
3/09 Requested a modification
8/09 Faxed hardship letter ect.
10/09 HAMP letter offer
11/09 1st trial pmt offical HAMP trial package arrives
12/06 2nd trial payment-asked to fax 50pages
1/10 3rd trial payment, underwriting approval
2/10 4th trial payment, 2/22 Email OOP
2/29 call from Shawn from the OOP "clueless"
3.1 call from Fawn Marsh "clueless"
3.1 5th trial payment,
3.2 was reassgned to Deanne Martin
3.5 Recived HAMP permanet docs
It's hard to believe she's only 10% underwater in AZ. She must have gotten one hell of a good deal, and it must be one hell of a nice house.
As I recall she was in Prescott. But thought they had big declines up there also.
I assume 12News is carried there not just in Phoenix Metro
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