Thank You

[jesse331]

After emailing Barbara Desoer only yesterday,
I received a call this evening from a Cynthia Thornton who said she was with Barbara Desoer's office.

She Apologized for all the run around we've experienced for the past year and she assured me that she will personally make sure we get processed for a Mod as quickly as possible.

She said she had everything in our file she needed but a more recent pay stub so she wants me to fax that over to her..... (I've tried like 20 times but keep getting a "Remote Fax Error") Uhg!
She said she's going to assign us a Senior Negotiator to quickly get us through this.....

It sounds like it might just work this time...

I can't thank this website enough....Without the information on this site, I had no idea where to turn for help and ultimately was just days away from giving up and letting them have the home back but now there is a light at the end of the tunnel....Hopefully.

I'll keep this updated.

Thank you
Thank you
Thank you,
Jesse

[Riley18]

Are you current on your mortgage? The person who called me from her office told me there are so many people ahead of me that it will be a "long" time before I am processed for a modification. So frustrating...

[jesse331]

Originally Posted by Riley18

Are you current on your mortgage? The person who called me from her office told me there are so many people ahead of me that it will be a "long" time before I am processed for a modification. So frustrating...

Am I current? LOL

December 1 will make it One full Year delinquent.

I wouldn't be fighting so hard if I was current.

[mgallant]

Originally Posted by jesse331

Am I current? LOL

December 1 will make it One full Year delinquent.

I wouldn't be fighting so hard if I was current.

Jesse,

We were 13 months going on 14 months behind on our payments before BOA decided to offer us a real MOD package! Hang in there and be pro active, call them daily if need be. Good Luck and Best Wishes!

[pyeatpr]

Originally Posted by Riley18

Are you current on your mortgage? The person who called me from her office told me there are so many people ahead of me that it will be a "long" time before I am processed for a modification. So frustrating...

I was current on my mortgage all through the modification process and I was approved. I went through NACA and I did not have PMI insurance on the loan. Both of those may have contributed to a quick modification for me.

[nativelasvegan]

Thanks for your post Jesse. I too felt such a sign of relief when I found this website. It might take a couple of weeks to get a "negotiator" assigned to you. You can also check your account status online. I might want a week, 10 days and then start calling to find out who your negotiator is. This is a long journey. We will help you along the way. Welcome.

[jesse331]

Originally Posted by nativelasvegan

Thanks for your post Jesse. I too felt such a sign of relief when I found this website. It might take a couple of weeks to get a "negotiator" assigned to you. You can also check your account status online. I might want a week, 10 days and then start calling to find out who your negotiator is. This is a long journey. We will help you along the way. Welcome.

I appreciate the comments....

They disabled our online account access 10-23-09 so we can't see the status.

I'm hoping they enable our account access now that I have gone over the standard home retention department.

[AZOwner]

Please sign the petition but together by Sr. Member caldwell:

Everyone - here are is our petition on two places on the web. Please sign them. Send the links to your e-mail buddies. Put it up on your facebook pages. Lets make this happen!

PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS | Petition2Congress |

TO THE UNITED STATES GOVERNMENT FROM AMERICAN HOMEOWNERS Petition

[whatdidigetinto]

just signed both!will add to my facebook and myspace!

[jewls]

AZOwner,
I sent mine to all, how sad, the petition stated I was the first from Oregon to send this in, since there are so many foreclosures, homes under water, and unemployment of 12% or more.

[nativelasvegan]

Jesse - I remember my days of dealing with inept employees at Home Retention. Do not give up until you get a negotiator aka employee assigned to your file. I spent MONTHS in limbo by calling Home Retention, 800 numbers, etc. It did no good at all. Insist that a negotiator be assigned to your file.

jewls - i was the first from my state too. It is sad. Just remember too, the unemployment numbers only reflect those who have "filed" for unemployment. I was self employed for a good number of years. I have a lot of friends who are self employed and have no access to unemployment compensation. Those same friends have been without income for over 6 months. There are a lot more people who are unemployed than is being reported. We can make a difference. United we stand. We can take this country back but it takes action, not just words.

[jewls]

nativelasvegan,
The same here, many individuals are owner-contractors, unemployment insurance is high and the samew ith small buisnesses. So the high unemplyment does not count many, including those who have exhausted their benifits. We made our garden very large this year, plus many fruit trees and dontated to the local food bank. Who knows I may need to access it in the near future also.

[jesse331]

I signed the petition.....

UPDATE:
Cynthia Thornton called me yesterday to let me know that she did receive the fax I sent. She also said that she has requested a negotiator for our file and she will be calling me back on Tuesday to let us know the name and phone number of the Negotiator.

While we were talking she said that there is no reason why this has gone on like this for a year now.... It could have been resolved months ago because what I've been asking for is not an uncommon Mod in today's economy and she can't understand why they didn't just do it to begin with. She again said that the Home Retention department seems to do more harm then good sometimes.

Hopefully we'll get our Negotiator come Tuesday and within a week or two have a mod that actually works so we can start making our payment again.....

[jesse331]

[ama125]

Jesse, I am so sorry. Did they elaborate at all? Did you ask about partial claim, etc? I don't know if you read up on all the FHA-HAMP guidelines or not, but sadly, we the homeowners seem to know more about HAMP than they do. It in unfortunate but that is the way it is! Have you contacted a HUD counselor? They may be in a better position to assist you and get more specific details. I know there are lots of you with FHA loans and I have not seen anyone getting into FHA-HAMP. Look at how long it is taking them to figure out the regular HAMP and that has been out since March. FHA-HAMP came out in August. I suspect they still don't fully get it. My sympathies go out to you, but don't give up hope! Try other avenues. Please keep us updated! My thoughts are with you! Off the top of my head, I can think of at least 4 other members with FHA loans with BofA... Jinksy, Melanie702, Shay01, and baretta. You can do a search for them and follow their posts to see if any of them have had any luck. In any case, you can stretch this out to save up some cash and come up with a plan B in case things don't go well. Good luck! Also look at any possible ways to reduce expenses (appeal property taxes, call up cable and request lower rate, etc).

[lasvegash]

If you have an FHA loan, can't you refinance with no income documents and appraisal - taking advantage of current interest rates might help...

[tc_frustrated]

Originally Posted by pyeatpr

I was current on my mortgage all through the modification process and I was approved. I went through NACA and I did not have PMI insurance on the loan. Both of those may have contributed to a quick modification for me.

Hi Everyone

Just found this forum and such a wealth of information here. I had quick question regarding this post, so if you have PMI it makes it more difficult to be approved for a mod?

[pyeatpr]

Originally Posted by tc_frustrated

Hi Everyone

Just found this forum and such a wealth of information here. I had quick question regarding this post, so if you have PMI it makes it more difficult to be approved for a mod?

I feel it does because the bank can foreclose, sell the home again and file a claim with the PMI Insurance Company and collect to cover some or all of their losses.

If you do not have PMI, they foreclose and they cannot sell the home for what they originally financed it for, the bank will take a larger loss. The bank is more likely work with the current borrower to keep them in the home and take a smaller loss.

You have to realize the banks to not care about the customer. They strictly make their decisions for modification on what is best for them or the investor.


In order to get a modification you must convince the bank they will lose money if they do not modify your loan.

[tc_frustrated]

Originally Posted by pyeatpr

I feel it does because the bank can foreclose, sell the home again and file a claim with the PMI Insurance Company and collect to cover some or all of their losses.

If you do not have PMI, they foreclose and they cannot sell the home for what they originally financed it for, the bank will take a larger loss. The bank is more likely work with the current borrower to keep them in the home and take a smaller loss.

You have to realize the banks to not care about the customer. They strictly make their decisions for modification on what is best for them or the investor.


In order to get a modification you must convince the bank they will lose money if they do not modify your loan.

Hmm interesting. I guess the big point is to convince them its more worth it to them to mod then for you to foreclose.

[nativelasvegan]

You see, that's the problem. The banks are preferring to foreclose rather than modify loans. I thought the same thing when I started this process in March. It is confusing and takes a while to understand. Perhaps someone here can better explain it. Here is an article relating to this subject. Why Banks Prefer Foreclosures over Mortgage Modifications -- Seeking Alpha

[pyeatpr]

Originally Posted by nativelasvegan

You see, that's the problem. The banks are preferring to foreclose rather than modify loans. I thought the same thing when I started this process in March. It is confusing and takes a while to understand. Perhaps someone here can better explain it. Here is an article relating to this subject. Why Banks Prefer Foreclosures over Mortgage Modifications -- Seeking Alpha

The article sheads light on this issue too. If the banks think people will eventually find money and that is why they wait and do not approve modifications, they will lose more than they gain. In this economy there is 1 job opening for every 6 unemployed Americans. Per the article, past studies show 30% of people who fall behind will catch up again. That will not happen under these economic conditions. In the end the bank and the customer will both lose.

The banks will lose because they are greedy and the customer will lose because the bank is greedy.

[jesse331]

After being denied HAMP assistance from Cynthia Thornton I waited a couple days and emailed the OOP again, this time we recieved a call from a Heidi McNaughton....Heidi had me fax all the information again and sure enough, three days later I received a call from a guy saying that we were denied for a HAMP Mod. He would not explain why but he did say it had something to do with the investor on our mortgage.

So as of today we have been denied all HAMP assistance twice now and today we got served the LP...

Let the games begin.... I'm going to find every legal loop hole in the book to stall this foreclosure. We more then qualify for the HAMP Mod so there is no good reason why they keep declining us. I'm going to make them work for this foreclosure!

Oh yeah and another funny thing...they filed a court paper saying that they lost our Original Note and Mortgage.

I'll tell you what.......BOA sucks!

[Sunbeam]

Oh yeah and another funny thing...they filed a court paper saying that they lost our Original Note and Mortgage.

I'm hoping the loss of your original note might stand you in good stead....let us know how this turns out. We are pulling for you! Even people who don't post who read the forum are sending you good thoughts!

[ama125]

Jesse, if you really want to stall things, just keep asking for help. Apparently there are so many different departments that no one there knows who is doing what. It's like a ping pong match! You can just keep the ball in play for as long as possible. Then there is NACA to postpone the foreclosure, and at the last minute, bankruptcy. Who knows, maybe you can stall long enough that they'll figure out how to modify your loan or just be so sick of you that they will say "here, take it! just leave us alone!".

[MyHAMP]

Originally Posted by jesse331

I'll tell you what.......BOA sucks!

I figured that out already when I had a checking-account with them. I deposited checks from a foreign country a couple of years ago. They extended the hold for these funds 3 times and finally advised ME to contact the issuer in Europe to put stop payment on them and have the funds wired instead to speed things up.

In the meantime, the Euro changed dramatically and since the amount of the checks were quite high, my account was overdrawn by about $1,500 due to their great "advice".

BTW, that happened 6 years ago and I'm still getting collection-letters. Bad for them - the SOL applies anyway!

They have too many customers so they can afford treating you like crap..