Fha- help please

[shay01]

So ok got the call today from the girl in OOP and once again said after speaking to my neg that I dont qualify cause of my debt. Now when i do the calculations on my own I meet the guidelines. Help me here if I am wrong for DTI you take your recurring bills, and new payment under MOD and divide by the gross and it can not exceed 55 percent is this right??? Ok so I have 434, 80, 200 in bills that is it and you add the new payment divided by the income I come up with 52 percent and if I am not mistaking that is correct. So I told her this and she said let me check back with the neg and see what exactly is going on and call you back. So whatever looks like i will be denied again for like the 6th time. Maybe i have to start thinking about plan B it just doesnt seem I will get any help from them at all. And she keeps saying it is not them it is FHA.

[Melanie702]

Originally Posted by shay01

So ok got the call today from the girl in OOP and once again said after speaking to my neg that I dont qualify cause of my debt. Now when i do the calculations on my own I meet the guidelines. Help me here if I am wrong for DTI you take your recurring bills, and new payment under MOD and divide by the gross and it can not exceed 55 percent is this right??? Ok so I have 434, 80, 200 in bills that is it and you add the new payment divided by the income I come up with 52 percent and if I am not mistaking that is correct. So I told her this and she said let me check back with the neg and see what exactly is going on and call you back. So whatever looks like i will be denied again for like the 6th time. Maybe i have to start thinking about plan B it just doesnt seem I will get any help from them at all. And she keeps saying it is not them it is FHA.

From what I understand, is that they don't use the new payment. I think they actually use the current one (I could be wrong). That's what they have been doing to me. BUT....if they're using the new payment, and you have crap on your credit report, even though you're NOT paying, they will still count that. That's the reason they gave me why we were denied the FHA-HAMP. Even though we're not paying, they still have to count them. I'm going to the NACA event on Friday.

[shay01]

Originally Posted by Melanie702

From what I understand, is that they don't use the new payment. I think they actually use the current one (I could be wrong). That's what they have been doing to me. BUT....if they're using the new payment, and you have crap on your credit report, even though you're NOT paying, they will still count that. That's the reason they gave me why we were denied the FHA-HAMP. Even though we're not paying, they still have to count them. I'm going to the NACA even on Friday.

I feel like you felt yesterday dang it I am just ready to say forget it. I mean they should be happy I want to stay the house next door to me forclosed and only sold for 128K and it is the same house I have and we paid 230K. I feel like no matter what they are going to keep finding ways to deny me. I dont know what choices I have anymore.

[Melanie702]

Originally Posted by shay01

I feel like you felt yesterday dang it I am just ready to say forget it. I mean they should be happy I want to stay the house next door to me forclosed and only sold for 128K and it is the same house I have and we paid 230K. I feel like no matter what they are going to keep finding ways to deny me. I dont know what choices I have anymore.

I know, me too. Sucks really bad. We got it for 222k, now selling for about $130,000. They are always finding some way to deny everyone. I am seeing more and more people getting denied everyday when I visit this forum. Sucks so bad. I wish Skank of America (nativelasvegan's name) would open their greedy eyes and see what they're doing.

[dtap57]

shay, Don't give up! I wouldn't be surprised if HUD comes out with some more programs to help FHA loans. I think there is a great group of people on this board that have FHA loans and hopefully we can all benefit from each other.

FWIW i was told the same thing as Melanie that they take your old payment into there figures. I know it doesn't make a lot of sense.

[shay01]

Originally Posted by dtap57

shay, Don't give up! I wouldn't be surprised if HUD comes out with some more programs to help FHA loans. I think there is a great group of people on this board that have FHA loans and hopefully we can all benefit from each other.

FWIW i was told the same thing as Melanie that they take your old payment into there figures. I know it doesn't make a lot of sense.

Just starting to feel like I have no hope anymore...

[Melanie702]

Originally Posted by shay01

Just starting to feel like I have no hope anymore...

I do too, honestly. But there's gotta be something. Have you tried NACA? Maybe you should try going through them. I'm going there on the weekend. Don't give up. Stay there as long as you can. Screw them.

[ama125]

FHA-HAMP is more restrictive than regular HAMP for sure. Shay, I wish I could give you solid info here, but I don't fully understand how BofA comes up with their figures. The best thing you can do is your own calculations and how you arrived at your numbers and tell them to prove you wrong. They can tweak the numbers if you are not off by too much, and from what you are saying, you are very close to that cut off of 55% DTI. From the FHA HAMP guidelines, the back end DTI would include the front end DTI (the modified payment down to as close to 31% as possible). Perhaps this is where BofA is screwing things up...not understanding how to calculate the back end DTI. Have you gone to a HUD office for assistance? It's their program so maybe they could mediate on your behalf. Hang in there!

[shay01]

Originally Posted by ama125

FHA-HAMP is more restrictive than regular HAMP for sure. Shay, I wish I could give you solid info here, but I don't fully understand how BofA comes up with their figures. The best thing you can do is your own calculations and how you arrived at your numbers and tell them to prove you wrong. They can tweak the numbers if you are not off by too much, and from what you are saying, you are very close to that cut off of 55% DTI. From the FHA HAMP guidelines, the back end DTI would include the front end DTI (the modified payment down to as close to 31% as possible). Perhaps this is where BofA is screwing things up...not understanding how to calculate the back end DTI. Have you gone to a HUD office for assistance? It's their program so maybe they could mediate on your behalf. Hang in there!

Thanks AMA,

See that is what i thought for the back DTI ratio they should be using what the modified payment would be not the current payment right?? Cause if they are using the current payment i will never qualify that is why i need help. Me using the modified payment close to 31 percent and my recurring bills i am right 51 percent, but if they are using the current payment no i dont qualify. I am so tired AMA i have been denied so many times with no good reasons why. I feel they dont want to help me. Well i may not have any choices soon I am now 6 months behind so I am sure they will be trying to get rid of me soon. I just dont know anymore.

[dtap57]

Shay, Here is a number you can try. 1-888-297-8685 This is an FHA number. You can explain your situation to them and see if they can give you some help. It looks like there is still time to get things resolved with your FHA loan. Try that number and let me know if they can help you out. Hang in there!

[shay01]

Originally Posted by shay01

Thanks AMA,

See that is what i thought for the back DTI ratio they should be using what the modified payment would be not the current payment right?? Cause if they are using the current payment i will never qualify that is why i need help. Me using the modified payment close to 31 percent and my recurring bills i am right 51 percent, but if they are using the current payment no i dont qualify. I am so tired AMA i have been denied so many times with no good reasons why. I feel they dont want to help me. Well i may not have any choices soon I am now 6 months behind so I am sure they will be trying to get rid of me soon. I just dont know anymore.

Ok Guys so got a call from neg today DENIED again he said my partial claim amount is over the limit. I have no idea what all that means. He said something like the limit is 115K and mine is 178K which means I am over 60K. So there it is nothing they can do said i just dont qualify for FHA HAMP. So i called the OOP office back and the lady said she will refer my file to a different neg to see what i can qualify in house. I dont know what I am going to do. Does anyone know if any in house MODS are just as good as the hamp ones. I know that a special forbearance will not help as that is short term and sometimes makes the payments higher. So if they dont give me a decent in house MOD I am pretty much screwed there is nothing else i can do. Does any one have any suggestions or input. I am at the end of my rope here.

[shay01]

Originally Posted by dtap57

Shay, Here is a number you can try. 1-888-297-8685 This is an FHA number. You can explain your situation to them and see if they can give you some help. It looks like there is still time to get things resolved with your FHA loan. Try that number and let me know if they can help you out. Hang in there!

Thanks dtap,

I am so down right now I think i tried them before and they were really not helpful with me. It seems I am running out of options.. Just dont know what to do.

[ama125]

Originally Posted by shay01

Ok Guys so got a call from neg today DENIED again he said my partial claim amount is over the limit. I have no idea what all that means. He said something like the limit is 115K and mine is 178K which means I am over 60K. So there it is nothing they can do said i just dont qualify for FHA HAMP. So i called the OOP office back and the lady said she will refer my file to a different neg to see what i can qualify in house. I dont know what I am going to do. Does anyone know if any in house MODS are just as good as the hamp ones. I know that a special forbearance will not help as that is short term and sometimes makes the payments higher. So if they dont give me a decent in house MOD I am pretty much screwed there is nothing else i can do. Does any one have any suggestions or input. I am at the end of my rope here.

Shay, here's a good explanation. I don't know your exact numbers, but this explains the parial claim piece and how it is supposed to work...
http://www.wchra.com/Foreclosure/FHA...%208-12-09.pdf

[shay01]

Originally Posted by ama125

Shay, here's a good explanation. I don't know your exact numbers, but this explains the parial claim piece and how it is supposed to work...
http://www.wchra.com/Foreclosure/FHA...%208-12-09.pdf

Thanks AMA,
I guess mine was more than the 30 percent allowed. My loan balance is 238K. So i dont know I guess i just dont qualify he said i was 60k over what is allowed. So i dont know what will happen now. The lady from OOP said she will give my file to a new neg to see what I can qualify for in house. Do you know if they have any good programs in house that will help my situation. I dont have alot of money I can not afford to pay the 1911 a month now.

[ama125]

Here is the mortgagee letter on FHA HAMP that gives an example calculation in it...
http://www.hud.gov/offices/adm/hudcl...es/09-23ml.doc

[Melanie702]

shay, I probably asked you this before, but have you tried NACA? I tried them, but they were really slllooow so I let them go. But, I am going to the Save the Dream Tour on Friday. I would give them a try. Do anything you can to stall time. All you have to do is go to their website, register and enter all your information, then make a phone appt. You don't have to go in or anything or volunteer. Try them.

[shay01]

Originally Posted by Melanie702

shay, I probably asked you this before, but have you tried NACA? I tried them, but they were really slllooow so I let them go. But, I am going to the Save the Dream Tour on Friday. I would give them a try. Do anything you can to stall time. All you have to do is go to their website, register and enter all your information, then make a phone appt. You don't have to go in or anything or volunteer. Try them.

No Melanie I havent I heard from alot of people they are really slow. Being that I am 6 months behind I figured I didnt have alot of time. The lady in OOP today said that since i didnt qualify for FHA HAMP she will give my file to another neg to see what in house i can qualify for. Do you know if they have any in house good programs? If not I dont know what else to do..

[Melanie702]

Originally Posted by shay01

No Melanie I havent I heard from alot of people they are really slow. Being that I am 6 months behind I figured I didnt have alot of time. The lady in OOP today said that since i didnt qualify for FHA HAMP she will give my file to another neg to see what in house i can qualify for. Do you know if they have any in house good programs? If not I dont know what else to do..

I got approved for an in-house mod. It was a joke! I can't afford what I'm paying now. They took what we owe, added into the loan. My payments were only going to be lowered by 58 bucks. That wasn't going to work. I've heard from others on here that have been offered JUNK from their in-house mods as well. Wait and see what they say, but I can almost guarantee it won't be good. Who knows, maybe you'll get someone who cares. Let us know. If not, I would seriously try NACA. Use whatever services you can.

[shay01]

Originally Posted by Melanie702

I got approved for an in-house mod. It was a joke! I can't afford what I'm paying now. They took what we owe, added into the loan. My payments were only going to be lowered by 58 bucks. That wasn't going to work. I've heard from others on here that have been offered JUNK from their in-house mods as well. Wait and see what they say, but I can almost guarantee it won't be good. Who knows, maybe you'll get someone who cares. Let us know. If not, I would seriously try NACA. Use whatever services you can.

Ok thanks I will... So what are you doing now?? they denied you for the HAMP too right??? It is just too much way too much stress...

[Melanie702]

Originally Posted by shay01

Ok thanks I will... So what are you doing now?? they denied you for the HAMP too right??? It is just too much way too much stress...

Yup, I sure was denied. They told me it was because of the high credit card amount. Even though we're not paying, they have to add it in. Which SUCKS big time. The sucky thing is is that we were told we were going to be put on a trial payment, and they even gave us an amount!!!!!

[shay01]

Originally Posted by Melanie702

Yup, I sure was denied. They told me it was because of the high credit card amount. Even though we're not paying, they have to add it in. Which SUCKS big time. The sucky thing is is that we were told we were going to be put on a trial payment, and they even gave us an amount!!!!!

See it is funny you say that because today the guy told me even though the credit card was on mine he didnt use it and i pay it. I dont get it seems to me they come up with any excuse to deny us. Oh the told me in June i qualified and gave me an amount and i sent it in and now it is just sitting in a partial account balance. I can not handle these people...

[Melanie702]

I know. It's ridiculous. Let's see how the meeting tomorrow with Moe goes. I keep getting the runaround as well. It's very stressful.

[shay01]

Originally Posted by Melanie702

I know. It's ridiculous. Let's see how the meeting tomorrow with Moe goes. I keep getting the runaround as well. It's very stressful.

Melaine truth is it just doesnt seem that they will approve us for the FHA HAMP and i am ok with that as long as I can get a decent in house MOD. I have given up hope in the HAMP seems no matter what I have done they will not qualify me for that.

[ama125]

Originally Posted by shay01

Thanks AMA,
I guess mine was more than the 30 percent allowed. My loan balance is 238K. So i dont know I guess i just dont qualify he said i was 60k over what is allowed. So i dont know what will happen now. The lady from OOP said she will give my file to a new neg to see what I can qualify for in house. Do you know if they have any good programs in house that will help my situation. I dont have alot of money I can not afford to pay the 1911 a month now.

Unfortunately, I don't have any idea what all the different programs are they can offer. Seems like endless possibilities but if that were true, you'd think everyone could get some kind of workout. Truth is, as Moe put it, they will likely also look at other factors like employment and how employable a person is (are they likely to improve their situation). Where you live also probably has a part to do with it too (how likely are they to be able to sell the house, etc). It's really hard for me to say what they could or couldn't do. Maybe try NACA like Melanie is suggesting. I'm not trying to discourage you in any way, but maybe they really can't work things out and buying more time may be your only option. I knew from the outset that my DTI was too high and have done what I can to buy time for things to change (and boy have they!). So, perhaps survival mode is the best strategy right now. You can try NACA like Melanie is suggesting and also try to get details as to why you are getting denied (like if it's the DTI, how much more income or less expenses do you need). Try to figure out what the target is and do whatever you can to get there. Best wishes as always!

[shay01]

Originally Posted by ama125

Unfortunately, I don't have any idea what all the different programs are they can offer. Seems like endless possibilities but if that were true, you'd think everyone could get some kind of workout. Truth is, as Moe put it, they will likely also look at other factors like employment and how employable a person is (are they likely to improve their situation). Where you live also probably has a part to do with it too (how likely are they to be able to sell the house, etc). It's really hard for me to say what they could or couldn't do. Maybe try NACA like Melanie is suggesting. I'm not trying to discourage you in any way, but maybe they really can't work things out and buying more time may be your only option. I knew from the outset that my DTI was too high and have done what I can to buy time for things to change (and boy have they!). So, perhaps survival mode is the best strategy right now. You can try NACA like Melanie is suggesting and also try to get details as to why you are getting denied (like if it's the DTI, how much more income or less expenses do you need). Try to figure out what the target is and do whatever you can to get there. Best wishes as always!

The thing is AMA he said the only reason I dont qualify is that partial claime thing. That the max is 115K and I was at 178K and my loan balance is 238K. So i guess I will see what OOP is going to say about other programs and if there is nothing that will help me I guess we all know what I will have to do...Find somewhere to live