Unapplied funds on account

**concernedva** · 11-01-2009, 04:28 PM

When will unapplied funds on account be posted to account?

**davephx** · 11-01-2009, 05:20 PM

After modification is approved or denied...maybe in six months

**concernedva** · 11-01-2009, 05:30 PM

Originally Posted by davephx

After modification is approved or denied...maybe in six months

Does the foreclosure department see those unapplied funds?
And are we given credit on our year end mortgage statement for those unapplied funds?

**crewof5** · 11-01-2009, 05:43 PM

I have made my third trial payment as of 10/1.

Making 4th trial payment tomorrow.

We are still waiting to be assigned a negotiator. They told us we were missing paperwork at the beginning of Oct., it took them until October 30th to get everything scanned in according to Mortgage Outreach.

The weird thing is even though they say they have everything, it is still saying on my online account that they are waiting for documents. Also they have applied some of my unapplied funds from my trial payments to my account already. I am starting to wonder if this is a good or bad thing. when we spoke to Mortgage Outreach last week they didn't say anything about being denied.

I wish we could just get an answer from them, this is really starting to wear on me physically and emotionally.

I am wondering also will they give in-house mods if you are turned down for HAM, if you don't have a Freddie or fannie loan. Any thoughts?

I would really love to hear from Needanewjob in particular about this.

Thanks!

**concernedva** · 11-01-2009, 06:07 PM

Originally Posted by crewof5

I have made my third trial payment as of 10/1.

Making 4th trial payment tomorrow.

We are still waiting to be assigned a negotiator. They told us we were missing paperwork at the beginning of Oct., it took them until October 30th to get everything scanned in according to Mortgage Outreach.

The weird thing is even though they say they have everything, it is still saying on my online account that they are waiting for documents. Also they have applied some of my unapplied funds from my trial payments to my account already. I am starting to wonder if this is a good or bad thing. when we spoke to Mortgage Outreach last week they didn't say anything about being denied.

I wish we could just get an answer from them, this is really starting to wear on me physically and emotionally.

I am wondering also will they give in-house mods if you are turned down for HAM, if you don't have a Freddie or fannie loan. Any thoughts?

I would really love to hear from Needanewjob in particular about this.

Thanks!

Were you behind on payment when you started the trial payments?

**crewof5** · 11-01-2009, 06:44 PM

Hi Concerned,

No we were current when we went on the trial. Although due to Citi we are now behind, we were appproved for trial in June and told to make payment in July, then we were told trial would start in August. So they took the payment we made in July and put it towards August. They told us NOT to make the July payment up as it would disqualify us from the program. So the unapplied funds I mentioned previously paid our July payment and I am assuming the next payment will be applied to August so I guess when all is said and done we will be 2 months behind.

BTW, I am located in VA too!

**davephx** · 11-01-2009, 07:10 PM

Originally Posted by concernedva

Does the foreclosure department see those unapplied funds?
And are we given credit on our year end mortgage statement for those unapplied funds?

Yes and who knows...

When I got the cure amount from foreclosure they were showing the unapplied funds

**concernedva** · 11-01-2009, 07:11 PM

Originally Posted by davephx

Yes and who knows...

When I got the cure amount from foreclosure they were showing the unapplied funds

What do you mean cure amount from foreclosure? What is that?

**davephx** · 11-01-2009, 07:17 PM

Originally Posted by concernedva

What do you mean cure amount from foreclosure? What is that?

In AZ that is the amount you need to pay up to the day before the sale to save the house. In my case a huge amount since trying since March to get a HAMP mod.

**concernedva** · 11-01-2009, 07:21 PM

Originally Posted by davephx

In AZ that is the amount you need to pay up to the day before the sale to save the house. In my case a huge amount since trying since March to get a HAMP mod.

Was you behind on payments before you started the HAMP mod?

**concernedva** · 11-01-2009, 07:23 PM

Originally Posted by davephx

In AZ that is the amount you need to pay up to the day before the sale to save the house. In my case a huge amount since trying since March to get a HAMP mod.

In a previous post by needanewjob he said that they would offer a repayment structure type if you did not get approved. Have they not offered that? Also he said that Foreclosure would cease if you were on the HAMP plan.

**davephx** · 11-01-2009, 07:28 PM

Yes I was way behind since March when I knew I had to be delinquent to just not be in "imminent danger" of default

**concernedva** · 11-01-2009, 07:31 PM

Originally Posted by davephx

Yes I was way behind since March when I knew I had to be delinquent to just not be in "imminent danger" of default

Are you saying you were way behind in March?

**davephx** · 11-01-2009, 08:45 PM

March 2009 is when I first applied for HAMP with Citi when it first came out. Had wiped out all my reserves after 2 years of funding 4 mortgages on two homes (one old home unable to sell in falling market).

**abcxyz** · 11-01-2009, 10:36 PM

Originally Posted by crewof5

The weird thing is even though they say they have everything, it is still saying on my online account that they are waiting for documents. Also they have applied some of my unapplied funds from my trial payments to my account already. I am starting to wonder if this is a good or bad thing. when we spoke to Mortgage Outreach last week they didn't say anything about being denied.

I wish we could just get an answer from them, this is really starting to wear on me physically and emotionally.

I am wondering also will they give in-house mods if you are turned down for HAM, if you don't have a Freddie or fannie loan. Any thoughts?

I would really love to hear from Needanewjob in particular about this.

Thanks!

Crewof5, them applying the unapplied funds is a GOOD thing. It means the process is going as it should. they apply the unapplied funds when they have enough for your original payment, then they continue to collect your trial payments and put them in unapplied funds until they have enough for
your original payment and then they use those funds to make a payment. So don't worry, that's correct. Just keep at it, you will be ok...it's tough yes, but go one step at a time...