Obama MHA Update Thread

[langlang]

Hi all,

I thought it might be a good idea to start a thread where those who have pre-qualified or qualified for the Obama MHA plan could post updates. This way if anyone runs into problems, they might find info from others who also had the same problem. It would also be nice to know if most people's mods are going smoothly, so hopefully others will have the same experience.

As far as I know, there are roughly 3 stages.

1. The first is 'pre-qualification', where they have checked out your basic numbers, did a quick appraisal, and everything seems to fit. You're not actually in the plan, but hopefully approval should be coming.
2. The second stage is to get 'approval', at which point you start making trial payments and receive documents for the modification.
3. After the trial period is over, you will then submit income statements to show that you still qualify for the plan. At that point, I assume your modification is finally complete.

I don't think anyone has complete the trial period yet, since this plan recently started. But if you are on the plan, please let us know how it is going. Have you run into any delays or snags? Or is everything going smoothly?

Mods- if this is a duplicate thread or just a bad idea, obviously you can do what you want with the thread.

[langlang]

I was initially 'pre-approved' for the plan about a month ago, and was on Cloud 9. I was told that final decision would come in about 2 weeks.

I was then told my application was rejected, and that it would take a week or 2 to get the info on why it was rejected. After that period, I reviewed my financial info with Sergio, and once again was told I 'pre-qualified' for the MHA plan. I think there might have been some error in my app, but to be honest I was just happy there was a chance again.

I was just told by Sergio that I was approved, and made my first trial payment with him over the phone. I was told I would receive documents in 2-3 weeks and would then be assigned to a new rep to handle the rest of the mod, and will have my next trial payments due on September 1 and October 1. I'm feeling pretty good about things at this point, but would love to hear from others who might be slightly ahead of me- has everything gone smoothly for you during the trial period?

We have run up our credit cards over the last couple of years to stay current on our mortgage, but our new mortgage plan will help us stay in the house and pay everything off with judicious budgeting.

[langlang]

I wanted to edit my original post, but the edit button is no longer there. Just wanted to add that I thought it would be better to limit this thread to Obama/MHA mods only, since there is a totally different process for other mods.

[giari3]

Hello Langlang: We have also been qualified for the Obama Plan and will start the 1st of 3 payments August 1st. I did notify them that as of this month my husband will have another 5% reduction in pay and that my pay has now been reduced $400 per month. My payment is $1600 which they said $1300 house payment and $300 is for taxes and insurance. They told me to go ahead and make the 3 payments and at the end I will once again send 2 proof of income stubs for each of us and that they would probably reduce the modification payment to about $1300 total. I do not have any complaints about any of the CitiMortgage personnel. Everyone that I have spoke to during my 33 calls to be exact from March 2009 to present has been very professional and nice! The only thing is that this whole process is very lengthly. But than again, we are not the only people qualifying or calling. It seems like they are starting everyone for the 3 month trial period Aug/Sept/Oct. Please keep us posted as soon as you complete your 3 month, as for us it might just take a little longer! Good luck to you!!

[langlang]

Thanks for posting and congrats! Although I just made my first payment, I think we are actually at the same place- my next payment is due September 1, the payment I just made is basically my August 1 payment.

I will update at the next step, which is to (hopefully) receive my docs in the next 2-3 weeks.

[Skipper]

Originally Posted by langlang

Hi all,

I thought it might be a good idea to start a thread where those who have pre-qualified or qualified for the Obama MHA plan could post updates. This way if anyone runs into problems, they might find info from others who also had the same problem. It would also be nice to know if most people's mods are going smoothly, so hopefully others will have the same experience.

As far as I know, there are roughly 3 stages.

1. The first is 'pre-qualification', where they have checked out your basic numbers, did a quick appraisal, and everything seems to fit. You're not actually in the plan, but hopefully approval should be coming.
2. The second stage is to get 'approval', at which point you start making trial payments and receive documents for the modification.
3. After the trial period is over, you will then submit income statements to show that you still qualify for the plan. At that point, I assume your modification is finally complete.

I don't think anyone has complete the trial period yet, since this plan recently started. But if you are on the plan, please let us know how it is going. Have you run into any delays or snags? Or is everything going smoothly?

Mods- if this is a duplicate thread or just a bad idea, obviously you can do what you want with the thread.

Hi there, thanks for starting this thread!

Last week my BofA page had a change and now shows "active processing". I believe this is some type of application review stage that occurs, once pre approval has been completed.

I would love to hear if anyone has any more specific/detailed information regarding where I stand...

Regards,

Skipper

[kkeeley]

Hi i was wandering if the obama and the HAM were the same, I also started the 3 mo trial and started july 8. my last payment being sep 8 and i'll let you know how it goes.

[kkeeley]

I was approved for the HAM,thought i better mention that.

thanks

[langlang]

Yes, the HAM/MHA/any combination of those letters is the same as the Obama plan. Congrats and keep us posted!

[kkeeley]

OMG i dident know that,thanks for the info.I thought they we totally diffrent, thanks again
I'll keep u posted!

[langlang]

Hey kkeeley, have you received paperwork yet? I think you are the earliest among us (every else seems to have started with the first payment in August.)

If you haven't yet, I guess it should be soon- let us know when you do get it. Thanks!

[agutter17]

I to received paperwork for the 2nd stage above and now am being told there was a mistake I do not qualify for the program. I am back where I stated and even more stressed because I owe more now then when I started the whole process.

[langlang]

Hi agutter17,

I am really sorry to hear this. A similar situation happened to me, I was initially pre-qualified then my final approval was denied. I subsequently re-applied and was pre-qualified again, and then received final approval. So I am hopeful but afraid to get my hopes up too far (which is why I started this thread in the first place.)

So the paperwork you received after approval indicated that your modification was okay (at least at that point)? Did they give you an explanation as to what mistake was made?

Were you working with the executive LoanSafe team at Citi, or going through the regular channels?

Thanks for posting

Originally Posted by agutter17

I to received paperwork for the 2nd stage above and now am being told there was a mistake I do not qualify for the program. I am back where I stated and even more stressed because I owe more now then when I started the whole process.

[agutter17]

They say that I made a mistake with my income. I went over the paperwork I sent in which is exactly what they received over the phone. My husband's income was not even listed. It was on every paper I faxed to them. On other threads I was one of the first ones to receive paperwork and so excited.

When I started this process I was not even behind yet! Now I owe almost $5,000 and that is not includint the full payment I owe now August 1. I feel like Citi is trying to buy time with their so called mistakes!

What number do you call? I tried calling the loan safe number yesterday and they told me it was for presidential and preferred accounts!

[langlang]

Wow, I'm really sorry to hear that. I guess with the additional income from your husband's job, you were no longer above the 31% ratio?

I called the phone number provided here by LoanSafe- 866-255-3901. Make sure you tell them you are a LoanSafe member, and that's how you received the telephone number. I would try them again, each time you get a different rep anyway.

[kkeeley]

Hi langlang,
Yes i did get my paper work a week before my first payment was due. I was also one of the first to receve them, I had to resend the tax papers as they were done electronic by H and R block so they were not signed. i never called the loansafe # i called 888 535 6227 and always got someone. If i dident like what they said i just hung up and called back,u never get the same person. Just get name and emplo # thanks

[agutter17]

Thanks for your help it is wonderful to have some place to vent frustrations. At least I feel Like I am not alone. I am talking to a local attorney today and going to see what he advises!

[algebrateacher]

I'm in the review process now. I just finished making my third payment (may, june and july) at the beginning of the month but my paperwork dates were different (july, aug, sept) My file is was outsourced to Mortgage Outreach Services. I just found out that they have asked Citi to get a fourth payment from me. They applied the first two payments to the loan just today. What's going on? Is this a good sign?

[langlang]

Hi algebrateacher, thanks for posting your status. You are way ahead of me so I unfortunately can't help you- hopefully someone else can.

All I know is that I am to be assigned a new rep for my MHA mod and should be receiving my paperwork shortly. Until now I have been working with Sergio at the executive LoanSafe Citi team.

[aaa123]

I was approved on Obama plan since 5/8, I even completed 3 months trail payment. But paperwork never arrives. Citimortgage said my account is handled by MOS, contact MOS and been told they will re-order the paperwork for me, 2 weeks, 7-10 days another 7-10 days....still not show up. I have received a letter from Citimortgage, they said my account has a past due of $5880..I call Citimortgage and told them I am on trail period of MHA plan, they said it is not show on their system. I call MOS again and told them the situation, they said "you will receive your paperwork very soon, then you can proof to Citimortgage...And today I have received another letter from Citimortgage, my escrow account has shortage..I don't know what to do.. will they file foreclosure to my house??? Please adv.. Thank you!

[algebrateacher]

Stay on them. Call every single day. They will proceed with foreclosure proceedings if they do not received money or if they don't show that you have been modified. Start getting the money together to reinstate your loan if push comes to shove. I'll be praying for you.

[jillybean]

I started the process in late May, was prequalified around the first week of June, made my first trial period payment at the end of June. I didn't receive my trial paperwork until the beginning of July, and it had my trial period payment dates listed as being due July 30, Aug. 30, and Sept. 30 even though I already made a trial payment at the end of June. I figured I'd wait it out and see what the final paperwork said.

I submitted the trial papers the second week of July and heard from an underwriter about 10 days ago or so to ask a question about my documents, not a big deal and easily resolved. She said she would have the final paperwork sent out within 10 days, and sure enough, just today my final modification paperwork arrived! Woo hoo!! Turns out I was right about the dates and the trial paperwork was wrong, my final trial payment is due Aug. 30th, then the loan is permanently modified on Sept. 1, with first payment due on Sept. 1st. It's done. I signed and notarized and already have it back in UPS's hands this afternoon.

Good luck everyone, relentless phone calls to ONE point of contact (use the 3901 number if you can) is the best way to get results, it's what worked for me. Talking to multiple departments you won't know what to believe because everyone says something slightly different.

[shade]

jillybean - nice work.

Can you elaborate on your income /expenses/original house payment and final mod payment? Just for comparision purposes to others who are in the same pending situation.

[jillybean]

It's all in this thread:
Starting the process of mod, questions!

[langlang]

Congrats jillybean!!

I forgot to update my own thread. I received my paperwork earlier this month, and was given a deadline of September 1st to fill out and return with my next trial payment.

They received my paperwork early this week, and they told me to call back in about 2 weeks to verify they had processed it. The paperwork had some wrong dates on it as well, but the main deadline of September 1 was correct so I'm not worrying about it too much.

I did run into 1 minor hitch. To establish proof of residence they want to see a utility bill with your name and address on it, but my wife (who is not on the loan) was the one who set up most of our utility accounts. I talked to them and explained this, and ended up faxing all my utility bills with her name on them, plus my cable bill which has my name on it, and our cell phone bill which has both our names. Hopefully that will be enough, we also file a joint tax return which they obviously have as well.

Everything else is pretty cut and dried for me, so I am crossing my fingers and praying the next step will be like jillybean- getting final mod paperwork. I guess if you can just get to that step you are then home free- just make the remainder of trial payments which of course is the exact same as your new payment.

The only other thing I am going to have to do is pay the balance of my property tax for the year, previously I wasn't paying that monthly with my mortgage. But the HAMP paperwork said I could pay that balance off over 60 months, which should be no big deal.

Thanks all and please keep us updated with good news or bad-