Approved for Modification! - Loan Modification Forum

mybailout · 03-10-2009, 11:13 AM

Just checked the website & it says we are approved for a modification on our 1st mortgage second still says in process. This sounds like great news but I'll hold my celebration until its all done. I asked for a 12 month forebearance on payments so that I can pay off other debt to free up income to pay mortgage going forward without a problem. We have been denied twice so far. Haven't made a payment since September 2008. If this is true CW is making a smart move. They would loose at least $400K by foreclosing on our house. I hope their 1st offer is good we'll see.

LenderNoHelp · 03-10-2009, 11:36 AM

Mybailout,

Where do you look for the approved on the website? I'm logged into my account but, where should I look to find that info? Also, how do you calculate the loss the lenders will take if they foreclose?

N2Deep · 03-10-2009, 01:55 PM

LenderNoHelp,
You can find the status of your account under the financial hardship info then select workout. The fiancial hardship link should be on the left when your in your account homepage.

LenderNoHelp · 03-10-2009, 02:06 PM

The link is not there yet, I submitted my paperwork yesterday. That may explain why it's not showing yet?

mybailout · 03-10-2009, 03:33 PM

We'll I got the paperwork today. Basically same offer others have gotten add missed payments to loan & increased payment to cover it. Not really what I need so I guess we'll go back and forth a while. I'm willing to fight them on this as long as it takes so we'll see. May have to hire an attorney as I know that there were problems with the documentation and violations on the brokers part when we did the loan.

mybailout · 04-27-2009, 03:30 PM

I sent CW a qualified written request for all documents relating to our loans on March 23. Last week I received a payment history but nothing else. What can I do? I have a feeling there are TILA violations and would like to use them as ammo. I know that I never recieved a copy of the appraisal and my income was way overstated by the broker (I only found this out at closing).

Moe Bedard · 04-27-2009, 03:41 PM

They would have 60 business days to resolve........

Qualified Written Request | Jobs | Search Online Job Listings & Get Free Help - Loan Safe

If you do not getting everything on the QWR...........you would need to write another one with the items you are missing.........

also if you went through a title company for your closing............they would usually have a copy of all documents as well.

03-10-2009, 11:13 AM	#1 (permalink)
mybailout Member Join Date: Feb 2009 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Approved for Modification! Just checked the website & it says we are approved for a modification on our 1st mortgage second still says in process. This sounds like great news but I'll hold my celebration until its all done. I asked for a 12 month forebearance on payments so that I can pay off other debt to free up income to pay mortgage going forward without a problem. We have been denied twice so far. Haven't made a payment since September 2008. If this is true CW is making a smart move. They would loose at least $400K by foreclosing on our house. I hope their 1st offer is good we'll see.

03-10-2009, 11:36 AM	#2 (permalink)
LenderNoHelp Senior Member Join Date: Dec 2008 Posts: 40 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Approved for Modification! Mybailout, Where do you look for the approved on the website? I'm logged into my account but, where should I look to find that info? Also, how do you calculate the loss the lenders will take if they foreclose?

03-10-2009, 01:55 PM	#3 (permalink)
N2Deep Senior Member Join Date: Mar 2009 Posts: 45 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Approved for Modification! LenderNoHelp, You can find the status of your account under the financial hardship info then select workout. The fiancial hardship link should be on the left when your in your account homepage.

03-10-2009, 02:06 PM	#4 (permalink)
LenderNoHelp Senior Member Join Date: Dec 2008 Posts: 40 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Approved for Modification! The link is not there yet, I submitted my paperwork yesterday. That may explain why it's not showing yet?

03-10-2009, 03:33 PM	#5 (permalink)
mybailout Member Join Date: Feb 2009 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Approved for Modification! We'll I got the paperwork today. Basically same offer others have gotten add missed payments to loan & increased payment to cover it. Not really what I need so I guess we'll go back and forth a while. I'm willing to fight them on this as long as it takes so we'll see. May have to hire an attorney as I know that there were problems with the documentation and violations on the brokers part when we did the loan.

04-27-2009, 03:30 PM	#6 (permalink)
mybailout Member Join Date: Feb 2009 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	QWR ignored what to do now I sent CW a qualified written request for all documents relating to our loans on March 23. Last week I received a payment history but nothing else. What can I do? I have a feeling there are TILA violations and would like to use them as ammo. I know that I never recieved a copy of the appraisal and my income was way overstated by the broker (I only found this out at closing).

04-27-2009, 03:41 PM	#7 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Approved for Modification! They would have 60 business days to resolve........ Qualified Written Request \| Jobs \| Search Online Job Listings & Get Free Help - Loan Safe If you do not getting everything on the QWR...........you would need to write another one with the items you are missing......... also if you went through a title company for your closing............they would usually have a copy of all documents as well. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode