Spoke with Susane Vain

[sahm2two]

Hi, So I called the Advocacy Department and she is my contact person. I got her name & number and wrote it down. She said it would be 8 weeks from when I submitted the documents to get a package in the mail. From that point we send that back and then wait for the final approval from the investor - Freddie Mac. She also gave me the # where to make our mortgage payment and congratulated me for never being late! So, that was nice. She said that in their system from the info we have them we meet the qualifications and are just awaiting the final okay from the investor.

[Evan Bedard]

Hi sahm2two,

Congrats looks like the process is coming along smoothly and you should probably have an answer in the next couple weeks.

Keep us posted!

[Skipper]

Originally Posted by sahm2two

Hi, So I called the Advocacy Department and she is my contact person. I got her name & number and wrote it down. She said it would be 8 weeks from when I submitted the documents to get a package in the mail. From that point we send that back and then wait for the final approval from the investor - Freddie Mac. She also gave me the # where to make our mortgage payment and congratulated me for never being late! So, that was nice. She said that in their system from the info we have them we meet the qualifications and are just awaiting the final okay from the investor.

Hi Sahm,

Did you clarify if you were pre-approved for the MHA mod? If so, did BofA give you an indication as to when the trial period payments would start?

I am glad things are starting to move for you!

Skipper

[sahm2two]

Originally Posted by Skipper

Hi Sahm,

Did you clarify if you were pre-approved for the MHA mod? If so, did BofA give you an indication as to when the trial period payments would start?

I am glad things are starting to move for you!

Skipper

Skipper,

I specifically asked Susane if we were approved and she said from the information we gave them yes...but the final approval will come from my investor, Freddie Mac. She really did not have too much info...and I did not ask about trial payments...now I wish I would have! She told me if I had any questions to call her..so I will tomorrow & ask about that. Thanks!
Did they tell you about trial payments?

[Skipper]

Originally Posted by sahm2two

Skipper,

I specifically asked Susane if we were approved and she said from the information we gave them yes...but the final approval will come from my investor, Freddie Mac. She really did not have too much info...and I did not ask about trial payments...now I wish I would have! She told me if I had any questions to call her..so I will tomorrow & ask about that. Thanks!
Did they tell you about trial payments?

I think they said that the trial payments would begin upon investor approval. I can't quite remember, so I am curious as to what they tell you...

Skipper

[Skipper]

Hi Sahm,

Any news?

Skipper

[sahm2two]

Originally Posted by Skipper

Hi Sahm,

Any news?

Skipper

Yes! I have been busy running errands this am and just called Susane. She said she noted my account and was going to send a follow up to Neil and literally 10 minutes later he called me. He said he had everything they needed. I also asked about the trial payment period and he said yes there would be one and that would be for 3 months and that I had to make them all on time otherwise the mod would be forfeited. After 3 months he said they payment would change one more time. That was all the info he gave me. Hope this Helps!

[Skipper]

Originally Posted by sahm2two

Yes! I have been busy running errands this am and just called Susane. She said she noted my account and was going to send a follow up to Neil and literally 10 minutes later he called me. He said he had everything they needed. I also asked about the trial payment period and he said yes there would be one and that would be for 3 months and that I had to make them all on time otherwise the mod would be forfeited. After 3 months he said they payment would change one more time. That was all the info he gave me. Hope this Helps!

Sorry to bug you, but did Neil say when to expect the trial period would begin? I was told it would begin after the investor approval...

Thanks for the info,

Skipper

[sahm2two]

Originally Posted by Skipper

Sorry to bug you, but did Neil say when to expect the trial period would begin? I was told it would begin after the investor approval...

Thanks for the info,

Skipper

No bother at all! Just sitting here eating some pretzels hehe...

He did not say....he did say something about it starting when we got the mod package I believe?

[Skipper]

Originally Posted by sahm2two

No bother at all! Just sitting here eating some pretzels hehe...

He did not say....he did say something about it starting when we got the mod package I believe?

I think it is the same timeline... The package goes out after the investor approval... Then the trial period starts.

Have a good morning,

Skipper

[MommyBook]

Got a letter today from the Office of the Chairman thanking me for contacting them and saying Suzanne Bain was my Sr. Negotiator. I need to call her tomorrow and make sure that I stay updated on our mod status.

SAHM,
Did your docs ever end up showing on your account? I still show the same thing as Friday, which is really irritating. I'm also gonna see if we can get the process moving a little faster because we can't afford our full payment for August and I really don't want to be late, but that's where it's headed.

Keep me posted.

[sahm2two]

Originally Posted by MommyBook

Got a letter today from the Office of the Chairman thanking me for contacting them and saying Suzanne Bain was my Sr. Negotiator. I need to call her tomorrow and make sure that I stay updated on our mod status.

SAHM,
Did your docs ever end up showing on your account? I still show the same thing as Friday, which is really irritating. I'm also gonna see if we can get the process moving a little faster because we can't afford our full payment for August and I really don't want to be late, but that's where it's headed.

Keep me posted.

Yes, I got the same letter the other day from BoA thanking my for contacting the President. I don't think it stated on there that Susane Vain was my Sr. Negotiator. I just logged in & all of the docs are showing as of today! Thank goodness!

We had planned on making our payment by the 16th to avoid the late fee. But, it's just going to be so tight we need one extra week (Hubby gets paid weekly). So, I am calling her this morning to make sure if we pay on the 19th it won't jeopardize anything with the modification.

[sahm2two]

MommyBook..

my letter states that Neil Hernendez is my Sr. Negotiator. But, now that I have spoken with Susan she told me if I need anything that I need to contact her and she will follow up with Neil. The process seemed to work as I called her yesterday with concerns & within 10 minutes she had sent a follow up email and Neil had called me.

[Skipper]

Originally Posted by sahm2two

No bother at all! Just sitting here eating some pretzels hehe...

He did not say....he did say something about it starting when we got the mod package I believe?

Hi Sahm,

Had a quiet moment, so I decided to call Freddie Mac to confirm that a small discrepancy in my zip code had been fixed...

The person I wound up speaking to confirmed what I needed, so I then asked about the timeline for MHA reviews... The answer (drumroll please....); typically two to four weeks from submission.

Hopefully this means that any answer will be sooner rather than later!

Keep the fingers crossed...


Skipper

[sahm2two]

Originally Posted by Skipper

Hi Sahm,

Had a quiet moment, so I decided to call Freddie Mac to confirm that a small discrepancy in my zip code had been fixed...

The person I wound up speaking to confirmed what I needed, so I then asked about the timeline for MHA reviews... The answer (drumroll please....); typically two to four weeks from submission.

Hopefully this means that any answer will be sooner rather than later!

Keep the fingers crossed...


Skipper

Skipper,

that is great news! That made my day! I hope so!! Does this mean 2-4 weeks after we get the docs it will be approved?

[Skipper]

Originally Posted by sahm2two

Skipper,

that is great news! That made my day! I hope so!! Does this mean 2-4 weeks after we get the docs it will be approved?

It seemed to mean that once FM receives the request from the servicer, that it takes 2 - 4 weeks to render a decision back to the servicer on the MHA mod request

Maybe the other 2 - 4 weeks (of the 6 - 8 weeks total that BofA spoke of) is time that BofA needs to process the paperwork... Who knows?

Skipper

[sahm2two]

Originally Posted by Skipper

It seemed to mean that once FM receives the request from the servicer, that it takes 2 - 4 weeks to render a decision back to the servicer on the MHA mod request

Maybe the other 2 - 4 weeks (of the 6 - 8 weeks total that BofA spoke of) is time that BofA needs to process the paperwork... Who knows?

Skipper

Skipper,

How long have you been waiting since sending in your information? Tomorrow will be 2 weeks for me...so hopefully something in the next few weeks!

[Skipper]

Originally Posted by sahm2two

Skipper,

How long have you been waiting since sending in your information? Tomorrow will be 2 weeks for me...so hopefully something in the next few weeks!

Today is two weeks from when BofA supposedly submitted my request to the "investor" (which I am sure is FM)...

Skipper

[sahm2two]

Well....I had called Susane at around noon to clarify if I paid my mortgage payment a few days late if it would jeopardize my modification. She told me Neil would have to call and discuss this with me. He called an hour and a half later and she just called to make sure he called me back. So, atleast they are seeming to be on top of it all.

[Riley18]

Hello,
I am new to this site, and am trying to understand the different types of modifications being discussed. I have a mortgage with BofA, and have been trying to get my loan modified to 31% of income. The rep I have been in contact with since July 1st when the government ok'd 125% loan to value keeps telling me the bank is still "figuring out" how to proceed with the plan. I am so glad to have found LoanSafe because I know the bank is just putting me off. Now, my question is: in order to get the HASP modification do I have to pay $400.00 for an appraisal and also pay closing fees? The person I spoke to told me I would, but I did not read that on the Homeowner's Affordability and Stability Plan's website.
Thank you

[Skipper]

Originally Posted by sahm2two

Well....I had called Susane at around noon to clarify if I paid my mortgage payment a few days late if it would jeopardize my modification. She told me Neil would have to call and discuss this with me. He called an hour and a half later and she just called to make sure he called me back. So, atleast they are seeming to be on top of it all.

Hi again,

After speaking to Neil, does it appear that we on the same page?

Thanks,

Skipper

[hope67]

Originally Posted by Riley18

Hello,
I am new to this site, and am trying to understand the different types of modifications being discussed. I have a mortgage with BofA, and have been trying to get my loan modified to 31% of income. The rep I have been in contact with since July 1st when the government ok'd 125% loan to value keeps telling me the bank is still "figuring out" how to proceed with the plan. I am so glad to have found LoanSafe because I know the bank is just putting me off. Now, my question is: in order to get the HASP modification do I have to pay $400.00 for an appraisal and also pay closing fees? The person I spoke to told me I would, but I did not read that on the Homeowner's Affordability and Stability Plan's website.
Thank you

If you are looking for a loan modification plan then there is no fee or appraisal, the LTV could be anything. However, if you are looking for refinance under the "making home affordable" Plan then the LTV should not exceed 125%.

[sahm2two]

Originally Posted by Skipper

Hi again,

After speaking to Neil, does it appear that we on the same page?

Thanks,

Skipper

Skipper,

From asking him about the modification it does seem like we are. I always read somewhere or someone told me .. can't remember which.. that those who are delinquent will have a trial payment period of 3 months & those who are current will have a 4 month period.

When Neil called me earlier I just discussed with him if making my mortgage payment a few days later would hurt anything & he told me no.

[sahm2two]

Originally Posted by Riley18

Hello,
I am new to this site, and am trying to understand the different types of modifications being discussed. I have a mortgage with BofA, and have been trying to get my loan modified to 31% of income. The rep I have been in contact with since July 1st when the government ok'd 125% loan to value keeps telling me the bank is still "figuring out" how to proceed with the plan. I am so glad to have found LoanSafe because I know the bank is just putting me off. Now, my question is: in order to get the HASP modification do I have to pay $400.00 for an appraisal and also pay closing fees? The person I spoke to told me I would, but I did not read that on the Homeowner's Affordability and Stability Plan's website.
Thank you

It seems like what you are referring to is the refinance side of MHA. Apparently they never had a program for our loan (kept telling us they were rolling out phase #2 and never have. I called today just curious and still they say we don't qualify) But, I remember when we were speaking with someone & also friends of ours did the refinance portion and had to pay the $400 app fee plus around $1,000 closing costs.

[bittersweetme]

sahm and skipper,

It has been two weeks since you STARTED this process with the office of the president or with B of A all together? Are either of you going with NACA ?