NO HAM / NO Traditional Mod...now what? - Loan Modification Forum

MedCop · 08-04-2009, 06:41 AM

Okay...finally got in touch with someone at Citi. I was told we do NOT qualify for a HAM (the lady said she didn't know why) and that since our backer was private they chose to not offer a traditional mod. They said our loan was a "Hole Loan" private backer..whatever that means.

So....any other options?

MedCop · 08-04-2009, 07:19 AM

Also...she said our only option was Deed in Leui or Short Sale. Well, we are not behind on our mortgage, we want to live here. We are in an arm that changes in 2013 and are very afraid it will go way up.

SillyWorld · 08-04-2009, 08:01 PM

Go and set up account with NACA.com

Corrina · 08-04-2009, 08:56 PM

I agree.... though I am new to the process and it has all gone very quickly since contacting them (we have a local office in AZ), I have been very impressed with NACA. Go on their website and check when their next orientation/workshop is and go from there.

SillyWorld · 08-04-2009, 09:11 PM

Yea and even better if there is a tour in your area they can get you a OD ASAP if you want to spend a hole day there...

08-04-2009, 06:41 AM	#1 (permalink)
MedCop Junior Member Join Date: Jul 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	NO HAM / NO Traditional Mod...now what? Okay...finally got in touch with someone at Citi. I was told we do NOT qualify for a HAM (the lady said she didn't know why) and that since our backer was private they chose to not offer a traditional mod. They said our loan was a "Hole Loan" private backer..whatever that means. So....any other options?

08-04-2009, 07:19 AM	#2 (permalink)
MedCop Junior Member Join Date: Jul 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NO HAM / NO Traditional Mod...now what? Also...she said our only option was Deed in Leui or Short Sale. Well, we are not behind on our mortgage, we want to live here. We are in an arm that changes in 2013 and are very afraid it will go way up.

08-04-2009, 08:01 PM	#3 (permalink)
SillyWorld Senior Member Join Date: Apr 2009 Location: Central Pennsylvania Posts: 1,140 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NO HAM / NO Traditional Mod...now what? Go and set up account with NACA.com __________________ Central PA, USA Waiting NACA Approval With Citi ON FHA MORTGAGE 05/18/2009 Ginnie Mae investor Is NACA Becomming a SCAM..?

08-04-2009, 08:56 PM	#4 (permalink)
Corrina Senior Member Join Date: Jun 2009 Location: Phoenix, Arizona Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NO HAM / NO Traditional Mod...now what? I agree.... though I am new to the process and it has all gone very quickly since contacting them (we have a local office in AZ), I have been very impressed with NACA. Go on their website and check when their next orientation/workshop is and go from there.

08-04-2009, 09:11 PM	#5 (permalink)
SillyWorld Senior Member Join Date: Apr 2009 Location: Central Pennsylvania Posts: 1,140 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NO HAM / NO Traditional Mod...now what? Yea and even better if there is a tour in your area they can get you a OD ASAP if you want to spend a hole day there... __________________ Central PA, USA Waiting NACA Approval With Citi ON FHA MORTGAGE 05/18/2009 Ginnie Mae investor Is NACA Becomming a SCAM..?

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