Help w/loan modification - Loan Modification Forum

chad6715 · 06-25-2009, 08:48 AM

We applied for a loan modification clear back in Mar. We are in the process of foreclosure. We received more papers from their lawyers office saying we are in default. I have left several messages w/CitiMortgage trying to find out the status. They say not to worry that even after us filing our 6mo. stay which was back in Mar. also that even if they haven't made a decision that since we're working w/them we won't be kicked out of our home. But yet the lawyer papers make it seem different. Sept. will be 6mos. Is that true that even if it takes them longer for an answer we can stay in our home? We have 5 children to keep a roof over their heads so don't know if we should just look for another place, try putting house up for sale now instead of waiting, etc..

Moe Bedard · 06-25-2009, 09:12 AM

chad6715,

Welcome to the forum and thank you for joining....................

The foreclosure process itself will continue even while you are going through the modification in the event that the modification does not get approved.........but there should not be an actual sale date set unless the process is denied.

Try calling the executive team number and see if they can give you an update on your file..............
1-866-255-3901

abbigail · 06-29-2009, 05:08 PM

Hi ***,

I've been working on a loan modification with my new counselor. She said my investor is Wells Fargo. I had contacted the loss Mitigation department to try and get a message to her. I'd missed calling her because I couldn't get a break at work. The Loss Mitigation Department told me I was prequalified for the HAM modification. However, the new counselor told me they stopped doing the HAM modifications as of June 26.

Have you heard of this?

I'm going to call her tomorrow and see if we can talk about it so I am clear on everything. The intrest rate she suggested for submission was low but with the arrearage added on would increase property taxes. the payments would be lower than before but my income is half what it was as well.....

It would be a close call, not sure if taxes are going up again here too.

thanks
abbigail

06-25-2009, 08:48 AM	#1 (permalink)
chad6715 Junior Member Join Date: May 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Help w/loan modification We applied for a loan modification clear back in Mar. We are in the process of foreclosure. We received more papers from their lawyers office saying we are in default. I have left several messages w/CitiMortgage trying to find out the status. They say not to worry that even after us filing our 6mo. stay which was back in Mar. also that even if they haven't made a decision that since we're working w/them we won't be kicked out of our home. But yet the lawyer papers make it seem different. Sept. will be 6mos. Is that true that even if it takes them longer for an answer we can stay in our home? We have 5 children to keep a roof over their heads so don't know if we should just look for another place, try putting house up for sale now instead of waiting, etc..

06-25-2009, 09:12 AM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,888 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Help w/loan modification chad6715, Welcome to the forum and thank you for joining.................... The foreclosure process itself will continue even while you are going through the modification in the event that the modification does not get approved.........but there should not be an actual sale date set unless the process is denied. Try calling the executive team number and see if they can give you an update on your file.............. 1-866-255-3901 __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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.

06-29-2009, 05:08 PM	#3 (permalink)
abbigail Senior Member Join Date: Feb 2009 Posts: 63 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Help w/loan modification Hi ***, I've been working on a loan modification with my new counselor. She said my investor is Wells Fargo. I had contacted the loss Mitigation department to try and get a message to her. I'd missed calling her because I couldn't get a break at work. The Loss Mitigation Department told me I was prequalified for the HAM modification. However, the new counselor told me they stopped doing the HAM modifications as of June 26. Have you heard of this? I'm going to call her tomorrow and see if we can talk about it so I am clear on everything. The intrest rate she suggested for submission was low but with the arrearage added on would increase property taxes. the payments would be lower than before but my income is half what it was as well..... It would be a close call, not sure if taxes are going up again here too. thanks abbigail

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