I got it!!!!!!!!! - Loan Modification Forum

flyingpuppy99 · 10-21-2009, 05:13 PM

Well I think I did. I received a FedEx package saying my loan was modifiyed.

2% 1-5 year
3% 6 year
4% 7 year
4.87% 8-40 year

Ballon payment of 30,200 due at time of sale, refi or on the maturity date.

Just have to sign and and get noterized and back in by the 3rd of November.

Still trying to find out if I can skip my 6th trail payment. I really hope I can but I dont think so.

Its weird...I just called loss mit today about the "we don't have all your docs" thing again (2 in 4 days) and they said to ignore it and that they had every thing they needed.......why didn;t she mention that I was approved?

Tears of Joy!!! I just hope its true.

Evan Bedard · 10-21-2009, 05:19 PM

Congratulations Flying Puppy!

That is a permanent modificaiton!!!

caldwellb02 · 10-21-2009, 05:28 PM

I hope it's true too! Just make sure you read everything and copy everything. Doesn't it say when you need to start paying?

flyingpuppy99 · 10-21-2009, 05:36 PM

Thank You!

It says the first payment is due on 12/01. But its a little wishy washy on when my "last" trial payment was.

I will be calling loss mit again tomorrow when they are open to get an answer on that. I really hope I dont have to. I had to not make any other payments to creditors last month just to make this up coming trial payment on Nov 1st.

CHANLY · 10-21-2009, 05:47 PM

I called today and the guy said that you should continue making payments, but just because it is put on the back end of the loan, technically you don't have to. Congrats to you!!

Stuart C · 10-21-2009, 05:54 PM

Quote:

Originally Posted by flyingpuppy99

Well I think I did. I received a FedEx package saying my loan was modifiyed.

2% 1-5 year
3% 6 year
4% 7 year
4.87% 8-40 year

Ballon payment of 30,200 due at time of sale, refi or on the maturity date.

Just have to sign and and get noterized and back in by the 3rd of November.

Still trying to find out if I can skip my 6th trail payment. I really hope I can but I dont think so.

Its weird...I just called loss mit today about the "we don't have all your docs" thing again (2 in 4 days) and they said to ignore it and that they had every thing they needed.......why didn;t she mention that I was approved?

Tears of Joy!!! I just hope its true.

Very happy to hear that! That's almost identical to what I hope to end up with except I don't think it should be thought as a "balloon payment". I hope you mean there is a forbearance on $ 30,200. in that no interest is charged on that part of the loan until such time as you refinance or sell the house. Difference being that when it goes up to 4.87% it will be on your principle - $30,200. so that $30,220 will not be considered in your monthly payment?

No doubt, just like mine, that's what it takes to get it down to 31%.

c150000 · 10-21-2009, 06:58 PM

flyingpuppy99
now you can sleep!! good luck to you

oh ya sooooo... whats the new payment amount???

litehouse01 · 10-21-2009, 07:16 PM

Congtrats and Best of Luck...............I am very happy for you

flyingpuppy99 · 10-21-2009, 08:28 PM

Original loan payment was $1610. Trail Mod was $1452. Mod is $872. And if I pay the escrow that is owed up front instead of stretching it out for 5 years the payment would be even lower. I am going to dig up the money to pay the escrow.

I have been waiting since last November for this.
I still can not believe it. I am in shock.

I wish every one out there luck!!!!!

c150000 · 10-21-2009, 08:39 PM

omg !!! thats great !!!!!!!!!!!!!!!

exhausted girlfriend · 10-21-2009, 08:51 PM

Congratulations! I am seeing a lot of people getting permanent loan docs over that last 2 days. Awesome! Those of us who get the perm mods must keep encouraging those who havent yet.

rachel_p · 10-21-2009, 09:24 PM

Congratulations to you!!! You have the paperwork in hand, it can't get much better than that!!!!! Have a great week!!!

kcbmj8 · 10-22-2009, 06:40 AM

Congratulations flyingpuppy! Who is your lender?

Jillian118 · 10-22-2009, 08:42 AM

Yeay!!!!! Congratulations!!!! Hopefully the back log is starting to fall!

Shelly17 · 10-22-2009, 10:00 AM

Congrats Flyingpuppy!!! Now you can relax!

Social Apocalypse · 10-22-2009, 10:11 AM

PROOF that we are on the right track... this is payday for all of us, now let's string some together! GOOD FOR YOU FLYING PUPPY!!!!!!!!!! You made many smiles happen.

OH-WAMU · 10-22-2009, 10:15 AM

This is fabulous news!

smit5454 · 10-26-2009, 01:00 PM

FP,

Did you make all payments during the trial, even if it went past the 3rd? I need to make my 6th trial payment this week. Not sure if I should keep making it, or stop paying it to maybe wake them up.

I thought I had read somewhere that I do not need to make any more than 3 per the guidelines, but the correspondence I received says in BOLD letters, "continue to make your trial payment!"

Sunbeam · 10-26-2009, 01:02 PM

Congratulations to you! This has been a long journey, but sounds well worth it. Enjoy your happiness!

exhausted girlfriend · 10-27-2009, 10:03 AM

smit, i would continue making the payments.

flyingpuppy99 · 11-02-2009, 08:23 PM

Smit, If you dont keep making the payments they kick you off the trial. They extended my trial payments to 6. SO I just made my 6th payment. Dec. 1st I get to start making my new payments......I asked them if I still had the 15 day grace period that was on the old loan and they could not answer that.

emc0317 · 11-02-2009, 11:04 PM

congrats! that's the best mod so far!

MHAP76 · 11-02-2009, 11:25 PM

Flying Puppy, congrats on getting the permanent modification.

I just completed my 3 months trial on the MHAP and when I called Chase to follow up they said they have all the documentation and the file has been forwarded to their supervisor for approval. Does that sound correct to you? I thought we would be assigned an analyst/underwriter first but the rep said no, it just takes 30-45 days for the supervisor to approve it and then I'll be getting the package in the mail. Of course from what I've read in this forum it doesn't seem to be the case.

smit5454 · 11-03-2009, 05:37 AM

MHAP,

I completed trial end of July, and on 8-5 wa told my mod would be made permanent and to "call back if I don't have something in the next few weeks". Well, 3 months later, 3 payments later, and after receiving and sending back more "your modification is at risk" packets, nothing. Still on trial.

I hope your experience is better than mine.

MHAP76 · 11-03-2009, 09:30 AM

Thanks for your input, Smit. Looks like some people eventually get it after many trial payments so I'm keeping my hopes up.

10-21-2009, 05:13 PM	#1 (permalink)
flyingpuppy99 Senior Member Join Date: Mar 2009 Posts: 51 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	I got it!!!!!!!!! Well I think I did. I received a FedEx package saying my loan was modifiyed. 2% 1-5 year 3% 6 year 4% 7 year 4.87% 8-40 year Ballon payment of 30,200 due at time of sale, refi or on the maturity date. Just have to sign and and get noterized and back in by the 3rd of November. Still trying to find out if I can skip my 6th trail payment. I really hope I can but I dont think so. Its weird...I just called loss mit today about the "we don't have all your docs" thing again (2 in 4 days) and they said to ignore it and that they had every thing they needed.......why didn;t she mention that I was approved? Tears of Joy!!! I just hope its true.

10-21-2009, 05:19 PM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congratulations Flying Puppy! That is a permanent modificaiton!!! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

10-21-2009, 05:28 PM	#3 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,785 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! I hope it's true too! Just make sure you read everything and copy everything. Doesn't it say when you need to start paying?

10-21-2009, 05:36 PM	#4 (permalink)
flyingpuppy99 Senior Member Join Date: Mar 2009 Posts: 51 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Thank You! It says the first payment is due on 12/01. But its a little wishy washy on when my "last" trial payment was. I will be calling loss mit again tomorrow when they are open to get an answer on that. I really hope I dont have to. I had to not make any other payments to creditors last month just to make this up coming trial payment on Nov 1st.

10-21-2009, 05:47 PM	#5 (permalink)
CHANLY Senior Member Join Date: Sep 2008 Posts: 74 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! I called today and the guy said that you should continue making payments, but just because it is put on the back end of the loan, technically you don't have to. Congrats to you!!

10-21-2009, 06:58 PM	#7 (permalink)
c150000 Senior Member Join Date: Jan 2009 Posts: 285 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! flyingpuppy99 now you can sleep!! good luck to you oh ya sooooo... whats the new payment amount???

10-21-2009, 07:16 PM	#8 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congtrats and Best of Luck...............I am very happy for you

10-21-2009, 08:28 PM	#9 (permalink)
flyingpuppy99 Senior Member Join Date: Mar 2009 Posts: 51 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Original loan payment was $1610. Trail Mod was $1452. Mod is $872. And if I pay the escrow that is owed up front instead of stretching it out for 5 years the payment would be even lower. I am going to dig up the money to pay the escrow. I have been waiting since last November for this. I still can not believe it. I am in shock. I wish every one out there luck!!!!!

10-21-2009, 08:39 PM	#10 (permalink)
c150000 Senior Member Join Date: Jan 2009 Posts: 285 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! omg !!! thats great !!!!!!!!!!!!!!!

10-21-2009, 08:51 PM	#11 (permalink)
exhausted girlfriend Senior Member Join Date: Oct 2009 Posts: 260 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congratulations! I am seeing a lot of people getting permanent loan docs over that last 2 days. Awesome! Those of us who get the perm mods must keep encouraging those who havent yet.

10-21-2009, 09:24 PM	#12 (permalink)
rachel_p Senior Member Join Date: Aug 2009 Posts: 277 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congratulations to you!!! You have the paperwork in hand, it can't get much better than that!!!!! Have a great week!!!

10-22-2009, 06:40 AM	#13 (permalink)
kcbmj8 Member Join Date: Oct 2009 Posts: 17 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congratulations flyingpuppy! Who is your lender?

10-22-2009, 08:42 AM	#14 (permalink)
Jillian118 Senior Member Join Date: Jun 2009 Posts: 294 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Yeay!!!!! Congratulations!!!! Hopefully the back log is starting to fall!

10-22-2009, 10:00 AM	#15 (permalink)
Shelly17 Senior Member Join Date: Jan 2009 Posts: 53 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congrats Flyingpuppy!!! Now you can relax!

10-22-2009, 10:11 AM	#16 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 272 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! PROOF that we are on the right track... this is payday for all of us, now let's string some together! GOOD FOR YOU FLYING PUPPY!!!!!!!!!! You made many smiles happen. __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

10-22-2009, 10:15 AM	#17 (permalink)
OH-WAMU Senior Member Join Date: Jul 2009 Location: Ohio Posts: 86 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! This is fabulous news!

10-26-2009, 01:00 PM	#18 (permalink)
smit5454 Senior Member Join Date: Apr 2009 Posts: 183 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! FP, Did you make all payments during the trial, even if it went past the 3rd? I need to make my 6th trial payment this week. Not sure if I should keep making it, or stop paying it to maybe wake them up. I thought I had read somewhere that I do not need to make any more than 3 per the guidelines, but the correspondence I received says in BOLD letters, "continue to make your trial payment!"

10-26-2009, 01:02 PM	#19 (permalink)
Sunbeam Senior Member Join Date: Feb 2009 Location: N. California Posts: 312 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Congratulations to you! This has been a long journey, but sounds well worth it. Enjoy your happiness!

10-27-2009, 10:03 AM	#20 (permalink)
exhausted girlfriend Senior Member Join Date: Oct 2009 Posts: 260 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! smit, i would continue making the payments.

11-02-2009, 08:23 PM	#21 (permalink)
flyingpuppy99 Senior Member Join Date: Mar 2009 Posts: 51 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Smit, If you dont keep making the payments they kick you off the trial. They extended my trial payments to 6. SO I just made my 6th payment. Dec. 1st I get to start making my new payments......I asked them if I still had the 15 day grace period that was on the old loan and they could not answer that.

11-02-2009, 11:04 PM	#22 (permalink)
emc0317 Senior Member Join Date: May 2009 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! congrats! that's the best mod so far!

11-02-2009, 11:25 PM	#23 (permalink)
MHAP76 Senior Member Join Date: Oct 2009 Posts: 33 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Flying Puppy, congrats on getting the permanent modification. I just completed my 3 months trial on the MHAP and when I called Chase to follow up they said they have all the documentation and the file has been forwarded to their supervisor for approval. Does that sound correct to you? I thought we would be assigned an analyst/underwriter first but the rep said no, it just takes 30-45 days for the supervisor to approve it and then I'll be getting the package in the mail. Of course from what I've read in this forum it doesn't seem to be the case.

11-03-2009, 05:37 AM	#24 (permalink)
smit5454 Senior Member Join Date: Apr 2009 Posts: 183 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! MHAP, I completed trial end of July, and on 8-5 wa told my mod would be made permanent and to "call back if I don't have something in the next few weeks". Well, 3 months later, 3 payments later, and after receiving and sending back more "your modification is at risk" packets, nothing. Still on trial. I hope your experience is better than mine.

11-03-2009, 09:30 AM	#25 (permalink)
MHAP76 Senior Member Join Date: Oct 2009 Posts: 33 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I got it!!!!!!!!! Thanks for your input, Smit. Looks like some people eventually get it after many trial payments so I'm keeping my hopes up.

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