A primer of commandments for everyone that is new to loan modification Hell

**caldwell02** · 12-29-2009, 05:07 PM

There will be more added, I am sure. Go for it.

1. If you are in default, call THEM. Collections will call you, but rarely speak with them. Their only job is to collect. They will tell you anything to collect. they will tell you or threaten you with anything.

2. Document everything they say, their names, the dates you talked with them.

3. Work with another dept - like loss mitigation - depending on the bank. Document Everything they say.

4. If they say something that seems off or scares the **** out of you, breathe. Call back and get another person. Nine times out of ten they will tell you something different.

5. They will ask you for your documents over and over again. It is ridiculous, but comply. Do NOT give them fuel for that insanely false excuse that they are not doing mods because homeowners are not sending in the docs.

6. Be proactive. Follow up. Don't wait for them.

7. If they offer you something you know you can't sustain, don't accept it.

8. Escalate to the executive team or the OOP or whatever (depending on your bank), if you or should I say when you get the runaround for months and months. You will find many of those contact numbers on this forum.

9. When it gets to this level, start complaining. To HUD, the OCC, your Senators, etc. You will find some of these addresses and e-mails on the Chase thread called "contact numbers," and in other places.

10. If you want to keep your home, this is a long struggle. It is a nightmare, but this place, loansafe, can help you stay sane. (If you can call ME sane at this point that is).

11. If you want to keep your home, you have to be okay with losing it. Otherwise, they have you. They have all the power.

**Evan Bedard** · 01-07-2010, 11:15 AM

Thank you so much for sharing this Caldwell.

That was very kind of you and is also very good advice for anyone new to this process

We'll copy this one in a couple sections..

**OWBFail** · 01-07-2010, 09:33 PM

Thanks I am actually at 8-9 in the commandment right now. I have my mom working with a specialist while I am making noise with all the contacts I have.

nativelasvegan · 01-08-2010, 06:09 AM

1. If you are in default, call THEM. Collections will call you, but rarely speak with them. Their only job is to collect. They will tell you anything to collect. they will tell you or threaten you with anything. If they call you during working hours, remind them that they are not allowed to call you when you are at work and they can reach you after 5 or 6 after your work day ends.

2. Document everything they say, their names, the dates you talked with them. Start your log, keep it with you, update it. Very important.

3. Work with another dept - like loss mitigation - depending on the bank. Document Everything they say. Get someone specific assigned to your file. Keep pushing until you do or you will stay in lala land forever.

4. If they say something that seems off or scares the **** out of you, breathe. Call back and get another person. Nine times out of ten they will tell you something different. DO NOT CRY. Keep your emotions out of this. This is a business decision. Just like it was a business decision when you bought your house.

5. They will ask you for your documents over and over again. It is ridiculous, but comply. Do NOT give them fuel for that insanely false excuse that they are not doing mods because homeowners are not sending in the docs. Send everything that will require the bank to acknowledge receipt of what you are sending. A fax confirmation is not near as powerful as a certified letter, return receipt requested, UPS, Fedex, or First Class Mail with signature confirmation. Don't let the banks keep blaming the homeowners for failing to send in documents. Keep your proof.

6. Be proactive. Follow up. Don't wait for them.

7. If they offer you something you know you can't sustain, don't accept it. Read, read and read some more. Know the rules. Read the Treasury Directives and if your loan is owned by Fannie Mae, read the guidelines, LEARN the loan workout hierarchy and keep a copy with you, highlight the important parts and know your stuff when you communicate with the bank.

8. Escalate to the executive team or the OOP or whatever (depending on your bank), if you or should I say when you get the runaround for months and months. You will find many of those contact numbers on this forum.

9. When it gets to this level, start complaining. To HUD, the OCC, your Senators, etc. You will find some of these addresses and e-mails on the Chase thread called "contact numbers," and in other places.

10. If you want to keep your home, this is a long struggle. It is a nightmare, but this place, loansafe, can help you stay sane. (If you can call ME sane at this point that is).

11. If you want to keep your home, you have to be okay with losing it. Otherwise, they have you. They have all the power.

PLEASE TAKE THE TIME TO EDUCATION YOURSELF BY READING THIS FORUM. IT IS VERY LIKELY THAT THE ISSUES YOU ARE FACING HAVE BEEN POSTED HERE BY SOMEONE ELSE.

Newbies - start your own thread and describe your story. Update it when you have some new information.

Caldwell is right. You have to face the fact that there is a possibility you will not be able to keep your home. If the bank knows you are desperate, they will take full advantage of you.

"I believe that banking institutions are more dangerous to our liberties than standing armies ... If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] ... will deprive the people of all property until their children wake up homeless on the continent [that] their fathers conquered ... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson in the debate over the recharter of The Bank Bill, (1809)

**caldwell02** · 01-08-2010, 07:48 AM

Yeah Native! Thank you for adding to this. anyone else - if there are pieces missing in this primer that applies to all of us, please add. If there are pieces you want to elaborate on for your own story - could you make that a different thread? Something like "experiences with loan modification nightmare tip 2 - documentation"? Then we can keep this thread about tips for everyone, not our personal stories? Thanks.

**acesfull** · 04-01-2010, 12:52 PM

hi All

This is great information. Loansafe is just great, a bundle of knowledge and knowledge is a great weapon when dealing with banks and loan servicers. Here is a trick I use when dealing with collection agencys.

A- Caller my name is xx I am calling from XXX. This call is being monitored for quality assurance. Is this Acesfull.

B- Me acesfull. Hi XXX. I am recording this call for any future legal remdies, May I have your full name and employee ID number.
Now here is where it gets fun. Some will say sir, you cannot record this phone call. Most just hang up the phone.

Mission accomplished.

Keep up the great work and the never ending fight.

Acesfull

**NationstarsBitch** · 09-03-2010, 10:12 PM

And step 12: go back to step one and continue to default while they play games at your expense.

Its a nice list, in an ideal world. As we know this is far from ideal. It's
The wild, wild, west: an unregulated mess.

You have to push them
To the brink by requesting in writing the agreement according to the Truth In Lending Act, which they are trouncing.

Without exact instructions from the lender, in writing, you can litigate to protect from foreclosure.

However, they are usually more shrewd. They will have you send them
Documents, then change the rules.

In order to beat the system you have to think like a criminal. The question is... What can I do within the limits of the law that pushes the law
Without breaking it?

That's what they are doing to you, now do do
It to them.

Think like a criminal: you don't get credit for *how* you win, just that you win.

Good luck and don't do anything stupid. If you aren't sure, hire an attorney. I know you can afford it with all the mortgage payments you aren't making.

**Dogbyte** · 11-05-2010, 09:34 PM

I don't think so! possession is 9/10 the of the law, and after that the house is tooth picks.

**Dogbyte** · 11-05-2010, 09:43 PM

I want to tell them How I am going to boil mercury in the rooms of the house,
which will penetrate all of the home, and It will have to be torn down.
Oh! I will cancel the homeowner insurance first.
Of course this is a last resort. But I like to tell them anything that will wake up
these rip-off banks.