Approved!!!

[AzGryffindor]

Workout Status Details:	Your Loan Modification has been approved, and all collections activities have been suspended as a result of this approval. Next steps will include a call from a workout negotiator who will explain the terms and options of your approved workout including all conditions required for the final completion of the workout, such as upfront funds. You will also receive a package of documents in the mail. These documents are time sensitive and must be signed, notarized and returned to us in 10 days, including any required upfront funds. If you have not received your workout package and/or a phone call from your negotiator by 12/25/2009, please contact us. Please do not call back before 12/25/2009 as that may delay the process. Please respond promptly to any calls or requests that you may receive from us during this time period. Lack of response will cause your workout to be delayed or cancelled. Thank you.
Information as of:	10/26/2009
Workout Stage:	Approved

[bekbek]

congratulations!mine too ,Lets celebrate and have a good time.

[dazedandconfused]

Congrats!!!!sleep well tonight!

[hope67]

AzGryffindor..this is wonderful!! Congrats

[hope67]

BTW, do you have the details? Is it HAMP? Do you know if the payment will be the same as the trial payment? Tons of questions!

[AzGryffindor]

I'll sleep better once I receive their package detailing exactly what we received. I applied for HAMP and have made 4 trial payments.

They still haven't applied my payments towards my account though. It's all there online but unapplied. They'd better hurry up as my taxes are due this Friday and unless they apply those payments there won't be enough money in the escrow account.

[ama125]

Congrats...that is great news to see! I'm very happy for you!

[Garry]

Congrats AzGryffindor! Lots of good news today!

[sahm2two]

Originally Posted by AzGryffindor

I'll sleep better once I receive their package detailing exactly what we received. I applied for HAMP and have made 4 trial payments.

They still haven't applied my payments towards my account though. It's all there online but unapplied. They'd better hurry up as my taxes are due this Friday and unless they apply those payments there won't be enough money in the escrow account.

I agree! I am happy I am "Approved" but will feel so much better with papers in hand! Esp. since I can't seem to figure out how they are going to calculate our payment..as we sent in our original pay stubs with overtime! *fingers crossed*

[Chased around and around]

I would be scared about those three words, "required upfront funds"...

[ama125]

Originally Posted by Chased around and around

I would be scared about those three words, "required upfront funds"...

I think that is just the same generic wording they post online for all modifications, whether they involve upfront funds or not. As for HAMP, there should not be any funds so I wouldn't worry about their choice of wording.

[BadBobMo]

Escrow-Fee's for Taxes Ins. they might offer you 2 payments type 1 if you pay any late taxes and 1 if you want taxes spread out over 5 yr. or so. Also generic!

[AzGryffindor]

Originally Posted by ama125

I think that is just the same generic wording they post online for all modifications, whether they involve upfront funds or not. As for HAMP, there should not be any funds so I wouldn't worry about their choice of wording.

I agree. It's pretty generic stuff. The upfront funds are probably referring to other types of mods or perhaps to those w/o escrow accounts.

[AzGryffindor]

Ugh!!!!! I just checked the status again online and now it says "No workout information found for this account". ?????????

I've sent them 4 trial period payments and now they have absolutely no status available?

It seems they are having some computer problems on their end. It took me 3 tries for it to let me log in.

[sahm2two]

Originally Posted by AzGryffindor

Ugh!!!!! I just checked the status again online and now it says "No workout information found for this account". ?????????

I've sent them 4 trial period payments and now they have absolutely no status available?

It seems they are having some computer problems on their end. It took me 3 tries for it to let me log in.

I logged in and all is there for me.....hopefully this is just yet another error!!!

[AzGryffindor]

I just called them and actually got a CSR that had a brain!!

He said it's been referred to the underwriter and that would have it back on 11/6 and to call back then.

I'm assuming that by sending it to the underwriter that the final HAMP loan mod docs are being drawn up by them and that we should receive our final docs in the mail not too long after the 6th.....unless they screw it up or find some kind of a problem.

[hope67]

Originally Posted by AzGryffindor

I just called them and actually got a CSR that had a brain!!

He said it's been referred to the underwriter and that would have it back on 11/6 and to call back then.

I'm assuming that by sending it to the underwriter that the final HAMP loan mod docs are being drawn up by them and that we should receive our final docs in the mail not too long after the 6th.....unless they screw it up or find some kind of a problem.

I think this is good news, underwriter will draw the modified loan. BTW, I remember your trial was for 3 months..did they extend it to 4 months?

[AzGryffindor]

No, it wasn't extended. I chose to make November's payment.

They paid my property taxes yesterday (thank god), but still have not applied my payments. Now I have a negative balance in my escrow account.

[Sunbeam]

They usually hold those payments until after the modification is completed so they can put some back into escrow and pay any fees, like the BPO and hopefully what is left over will go back to your mortgae account. Congratulations! I hope you can relax and enjoy!

[This Is It]

Hi, AzGryffindor this is my first post here , I have been lurking around here everyday for 4mos. Your posts was the first one I read, I am in the same trial plan with BOA as you are. I recieved my trial doc in July, my first payment was due Aug 16, Oct 1, Nov 1. as of Oct 27,2009 my status says "Approved" before that date it always said Processing then "No Workout". They have also paid our property taxes ,but has not applied our payments. I also have a negative balance in my escrow acct.

[rythmol6]

I am new here, I check the status on boa, and it message was similar to yours, just different dates. Is this a trail or final stage. Does everyone goes through the trail stage?

[heidi79]

keep us posted on when you get your final modification paperwork! Hopefully it'll be a smooth deal!

[ama125]

Originally Posted by rythmol6

I am new here, I check the status on boa, and it message was similar to yours, just different dates. Is this a trail or final stage. Does everyone goes through the trail stage?

Welcome to the forum! Everyone goes through the trial period, at least for HAMP, not sure about their in-house mods though.

[rythmol6]

Thank you very much. Should I wait for the negotiator to call or should i try and contact him myself if i dont receive the package by the end of the week?

[This Is It]

My 3rd trial payment was applied today!! as a partial payment. Is this a good thing? Could it mean I am moving forward in the MOD process. MHA