Waiting for workout letter (again)!

[ama125]

I've posted on other threads about my case. To be brief, I got a letter from CW in April that we may qualify for the Home Affordable Modification Program (HAMP). I called and gave them hubby's income info. Then on 6/15, our account online showed a workout letter was processed. That came one week later via Fed Ex saying we were not eligible for a loan mod (did not specify if it was the HAMP or their in-house loan mod nor did it explain why). What I received was an offer for the HomeSaver Forbearance program through Fannie Mae.

Since hubby got a promotion and raise effective on 6/8, I had the local HUD office submit the official hardship affidavit form (available online) so that our case could be reviewed a second time based on the updated income. So, now when I look up our home loan online, it is showing a new workout letter processed on 6/29. If all moves in the same timeline as the last one, I should be receiving this second letter the beginning of next week. God willing they get it right this time and offer me the HAMP! Wish me luck...I'll be sure to update my status when I get this new workout letter. Just wondering if anyone else has had a similar experience (ie, re-applying after an initial rejection)?

I do have one last card in my pocket if they still screw it up...I'm appealing my property taxes for 2010 and received my notice to appear in court on 7/23. Since all HAMP mods are required to carry an escrow account, property taxes weigh in on the NPV test. We ran our numbers using the NPV worksheet on the FDIC's website and based on hubby's new income, what our home appraised for (had this done to file the appeal), and what our proposed lower taxes would be, we pass the NPV test. Having said all that, since my first loan is with Fannie Mae and their guidelines to servicers say that the outcome of the NPV test is NOT to be used to determine who qualifies, I can't see any reason I would not get a loan modification. I guess I will just have to wait a few more days to find out

[Moe Bedard]

Fannie Mae can be tough and the regularly do this.

I wanted to let you know that I have seen homeowners be approved after an initial rejection. Often, it was mistake of the mortgage servicer that caused the rejection and the homeowner or attorney fought to prove the mistake.

I wish you luck and please keep us posted!

[ama125]

Just wanted to post an update...
I still have not received any additional FedEx packets. My HUD counselor submitted a request for the Making Home Affordable Modification Program (HAMP) on 7/1 and confirmed that the packet was received by BofA (Home Retention Team) on 7/3. My HUD counselor sent me an email on 8/7 after having spoken with several different departments and reps at BofA regarding my loan mod request. She was told that it takes 30-45 days for the docs to be uploaded into the system and then 90 days to process (though I've read many cases now of this occuring in a shorter time frame). Despite having more authority than me, she has apparently been speaking to the same reps as me that have no clue about anything.

Here is just one example from the email she sent me:

"The servicer today ‘ran’ your income and debt numbers and stated that even if your interest rate were reduced to 1% and the $22,000 capitalized for a 30 year term, B of A still shows a deficit."

This clearly does not fall under the calculations for the HAMP in which the interest rate can go down to as low as 2% (for five years), the loan term extended to as much as 40 years, and finally, allowing principal forbearance, all for the purpose in achieving a modified payment equal to 31% of gross monthly income.

I know that I have stated my intent to just wait things out, but based on the rest of the email from HUD, I've decided to take the B.Desoer plunge. I sent Barbara Desoer an email with a timeline of events and request for assistance. Hopefully, someone will call me to discuss my situation and get the ball rolling (and in the right direction).

More to follow as the saga unfolds....

[hope67]

ama125...good luck and please keep us posted!

[alikeith]

You will definetely hear from someone today. theya re quick at responding.

I too wish i knew why i was failing the NPV. i wonder if the extending the loan was factored in or not? I need to ask more questions i think.

[Melanie702]

Hi ama, good luck...and word yet today?

[ama125]

Well, it's 7:15PM EST and still no phone call today. I re-read my email and realized I neglected to include my phone number (not that they don't have it on file somewhere) so I sent a second email including both my home and cell phone numbers. I'm not sure how late they would call someone, but I'm losing hope of hearing anything today. Maybe tomorrow I will get lucky (or watch, they'll call and I won't be home...I'd hope they'd try my cell then). More to come! Thanks for the well wishes! Pray for me too!

The only thing I did find out today is regarding my tax assessment appeal to lower property taxes. I was told I would not be notified of the outcome until end of October. I sent an email to the assessment office to see about requesting the results sooner since BofA will need the exact tax figures before extending me a trial plan (assuming I am qualified for it). I received an email back that they cannot expedite the review and I will have to wait till October. UGHH! If I'm understanding the FAQ correctly, they can use the estimated taxes for determining eligibility, but need the exact amounts before signing the trial plan (see excerpt below).

Q19. Can escrow payment estimates be used to determine payments during the Trial Period to avoid delays in processing?

Servicers may perform an escrow analysis based on estimates prior to extending a Trial Period Plan offer. However, if a servicer estimates the escrow payments for the Trial Period Plan offer, the servicer is not permitted to use national averages in the estimate calculations. Prior to determining the borrower’s eligibility for HAMP based on documentation, servicers must complete an escrow analysis to determine the exact escrow payments before signing the Trial Period Plan.

[rkel11]

Ama125,
Good luck and keep us posted.

[ama125]

I got a call shortly after my last post. I didn't answer it because it came up on the caller ID as "out of area" (I NEVER answer the phone when that comes up). I guess I wasn't near the answering machine to hear the message as it was being left either. It was really hard to make out the name...Cara, Carla? Not sure. But she did leave her number and extension so I'll be calling tomorrow (too late at this point). I will have to call in the morning after breakfast (my two little ones play quite nicely alone at that point in the day). Oh, I do so hope I hear some positive news!

Fingers crossed (and legs and toes!). I'll be saying my prayers diligently tonight (any other suggestions/rituals anyone can think of?). I am thinking of setting up some sort of mortgage alter or fire pit to throw in things as a sacrificial rite. I could burn up the deed for the timeshare, my credit cards, anything to show the Mortgage Gods my dedication and beg for their mercy. I should also have a BofA voodoo doll handy in case I get bad news! Maybe I'll just have to create one. I could sell it on eBay and use the proceeds to pay for my mortgage! Any takers?

[ama125]

I tried calling this morning but they were not open yet. I believe they are in CA so that means I'm time restricted since I'm on the East Coast (great, this means a small window of opportunity to speak to someone). I just tried calling again but got voice mail. On the plus side, I now have the person's full name (Kara Turner). Anyone else spoken with her? Also, I believe BofA's standard email structure is firstname.lastname@BankofAmerica.com. I know Barbara Desoer's email includes the middle initial, but I had once contacted a loan officer in CA whose email did not include the middle initial. I am thinking about sending an email to Kara and just see what happens (and of course with a receipt that it's been read). I prefer email over phone (not only because of time differences, but also because I can get responses in writing and won't have to worry about my two little ones interrupting me while on the phone). Anyone have any luck with email correspondence?

[alikeith]

Ama-
I was told by the office of the President that they dont want the negotiators e-mailing information regarding customers accounts. I too had tried e-mailing my negotiator, and she finally responded, stating she does not reply to e-mails. To call. I told the office of the president about this and thats when they advised me.

[ama125]

Originally Posted by alikeith

Ama-
I was told by the office of the President that they dont want the negotiators e-mailing information regarding customers accounts. I too had tried e-mailing my negotiator, and she finally responded, stating she does not reply to e-mails. To call. I told the office of the president about this and thats when they advised me.

I will try anyway and argue over the time difference and the fact that I am a stay at home mom with two toddlers so any phone time will be exceptionally challenging for me. I also have to deal with mealtimes, diaper changes, and potty breaks, too! How much time do you think I really have available to talk on the phone?!

[alikeith]

i know.... Im just telling ya what i was told.

[Cassietw]

I think they don't put anything in writing so they don't have to be held accountable for anything they say. I have been told so many different stories.....

Good Luck!

Cassie

[ama125]

Originally Posted by alikeith

i know.... Im just telling ya what i was told.

Thanks for the info...I hope they'll grant me an exception to that rule or we're going to have a hard time communicating. Maybe I'll use it to my advantage and encourage the kids to interrupt so they will give in to the email request

[alikeith]

haha! probably. Even the VP of home retention whom did e-mail me back told me that cant give any detailed info in e-mail. they dont have a secure method of e-mail so that probably why. Just like we cant use regular e-mail at work to send any patient info.

Countrywide at one time had secure e-mail that you had to actually log into, not anymore i guess.

[ama125]

Originally Posted by alikeith

haha! probably. Even the VP of home retention whom did e-mail me back told me that cant give any detailed info in e-mail. they dont have a secure method of e-mail so that probably why. Just like we cant use regular e-mail at work to send any patient info.

Countrywide at one time had secure e-mail that you had to actually log into, not anymore i guess.

You can still email from your account online, but I don't think you can plug in who it gets sent to.

[Tartbird]

I think Cassie has it right, they don't want to put anything in writing.

Oh, and ama125 I would like to place and order for a Voodoo doll....

Tartbird

[ama125]

Originally Posted by Tartbird

I think Cassie has it right, they don't want to put anything in writing.

Oh, and ama125 I would like to place and order for a Voodoo doll....

Tartbird

I googled it and no such dolls exist! I think I'm on to something here! Got to go...a poopy diaper awaits (I'm sure Kara will call me at the exact moment I am changing said diaper as that would be my luck!).

[alikeith]

yes you can. its the customer service e-mail. There was a different way though. It actually came from the person at countrywide, you had to open a link and enter in personal info to read and respond.

[ama125]

Originally Posted by alikeith

yes you can. its the customer service e-mail. There was a different way though. It actually came from the person at countrywide, you had to open a link and enter in personal info to read and respond.

I'm back...no phone call. Too bad they got rid of that email option (why would they keep it? Because it was a good thing and made sense? No, no, let's use the phone and faxes because both are sooo efficient *heavy sarcasm*)

[Cassietw]

Email can be tracked and is almost fool proof. A fax might give you a confirmation but there is no way to prove they actually received it so they can say they didn't. An email places things in writing that act as an agreement.... Information over the phone becomes hearsay and is hard to prove. The less in writing, the less they are held accountable for.... In reality the idea that it is more efficient coming from them is a farce!

[ama125]

I just emailed two contacts I have at BofA (one is a friend and one is a guy he got me in touch with who has been very helpful but only does the HARP portion of the program). Since I am not even sure of how "Kara Turner" spells her name, I emailed both of my contacts to look her up in their directory. I know this may all be in vain, but you never know if you don't try! I'll keep updating my post as I hear more (or not LOL!).

[ama125]

My buddy called me and did a reverse phone number look up. It looks like it is spelled Khara (I couldn't get an easy name like Marie). I am going to give it a shot and see what happens!

[ama125]

Originally Posted by Cassietw

Email can be tracked and is almost fool proof. A fax might give you a confirmation but there is no way to prove they actually received it so they can say they didn't. An email places things in writing that act as an agreement.... Information over the phone becomes hearsay and is hard to prove. The less in writing, the less they are held accountable for.... In reality the idea that it is more efficient coming from them is a farce!

Yes, I know what you mean (that's precisely why I love email. I also use Outlook Express and have it set to send me a read receipt so that I know the person has looked at it). I'm sure I won't get very far with it, but perhaps they will see me as one smart cookie if I send her an email and she'll be wondering how I got her address! Maybe they won't try screwing with me if I can prove my intellect!