Loan Modification Forum - LoanSafe.org http://www.loansafe.org/forum/ en Fri, 20 Nov 2009 21:40:36 GMT vBulletin 60 http://www.loansafe.org/forum/images/misc/rss.jpg Loan Modification Forum - LoanSafe.org http://www.loansafe.org/forum/ Oregon Residents Going Hungry http://www.loansafe.org/forum/food-crisis/19074-oregon-residents-going-hungry.html Fri, 20 Nov 2009 21:33:52 GMT Oregon’s unemployment rate held steady at 11.3 percent in October – one of the highest in the country. And in a report released Monday by the... Oregon’s unemployment rate held steady at 11.3 percent in October – one of the highest in the country.

And in a report released Monday by the U.S. Department of Agriculture, Oregon ranked as one of the worst states in terms of food security – or, in simple terms, households that go hungry.

Ethan Lindsey reports on the unsurprising link between those two statistics – unemployment and hunger.

Read more: OPB News Oregon?s Recession Means Many In State Go Hungry ]]> Food Crisis Moe Bedard http://www.loansafe.org/forum/food-crisis/19074-oregon-residents-going-hungry.html Wells Fargo Modification denied http://www.loansafe.org/forum/wells-fargo-american-servicing-company-asc/19073-wells-fargo-modification-denied.html Fri, 20 Nov 2009 21:27:49 GMT I have submitted all paper works (Finiancial worksheet, Paystubs,Hardship letter etc) about 4 weeks back, keep calling them every few days. I called... I have submitted all paper works (Finiancial worksheet, Paystubs,Hardship letter etc) about 4 weeks back, keep calling them every few days.
I called them today and they said it denied and reason told me on the phone " did not follow investor guidelines and I have over 2000$ deficit"
When I send them my financial worksheet, I showed them I have 500$ positive. I asked them give me details of deficit and she said you will get in the mail and did not give any info about deficit.
I have 5/1 IO ARM expiring in 2010 and wanted to my Interest rate fixed for 30 years.
What is my next step ?

Please advice.

Sanjay ]]> Wells Fargo - American Servicing Company (ASC) sanjay92 http://www.loansafe.org/forum/wells-fargo-american-servicing-company-asc/19073-wells-fargo-modification-denied.html New Friends Chat Part II http://www.loansafe.org/forum/loan-safe-lounge-anything-goes-here/19072-new-friends-chat-part-ii.html Fri, 20 Nov 2009 21:05:13 GMT Hello everyone,
I hope you don't mind if I post a new thread for New Friends Chat Part II, it's hard to go to the last page and I can't see Ama, Blooming's and my last posts.

I just want to thank everyone for all the supoort and encouragement you have given me. You are the best among the best of peope/friends I have ever met.

Ama, NativeLasVegas, Blooming, Believe, Catherine, Caldwell, Booggs28, Moe and Evan et al thank you from the bottom of my heart. I really appreciate all of you.

May God bless all of you.

Faith ]]> Loan Safe Lounge - Anything goes here! faith http://www.loansafe.org/forum/loan-safe-lounge-anything-goes-here/19072-new-friends-chat-part-ii.html Evan Help Me! http://www.loansafe.org/forum/citi-mortgage-citi-financial-homeowner-help-center/19071-evan-help-me.html Fri, 20 Nov 2009 21:01:48 GMT Recap of my situation: Gross is $3830 (since 15% salary cut in June), net is $2797. 1st mort is $1184, 2nd is $562. (Both 1st & 2nd are Citi loans)

Citi denied HAMP after trial payment period due to 31% rule. Now behind on 1st mortgage because of the trial payments I made for 4 months.

Tried for traditional mod on 1st & 2nd: Denied because "insufficient income to maintain monthly expenses." And they cannot help on the 2nd because it is current. Citi suggested credit consolidation help, if successful there then maybe they can do something for me. (?)

Paycut is killing me. No more savings, no nothing. I am thinking about stopping payment of my 2nd. If they try to foreclose on me because of that I could probably get a hardship withdrawal from my 401k to settle the second. Please advise. ]]> Mermaid http://www.loansafe.org/forum/citi-mortgage-citi-financial-homeowner-help-center/19071-evan-help-me.html Swine Flu Facts http://www.loansafe.org/forum/conspiracy-theories/19070-swine-flu-facts.html Fri, 20 Nov 2009 20:41:12 GMT Too shoot up or not shoot up is the question of the year folks and its got our nation on pins and needles. Literally.... Welcome to *SWINE FLU... Too shoot up or not shoot up is the question of the year folks and its got our nation on pins and needles. Literally....

Welcome to SWINE FLU HYSTERIA


What is is with this swine flu hype, hysteria and conspiracies?

Will the real facts please stand up?

Today folks, it seems like we now do have the facts to make an educated decision as to what to do when faced with this mysterious swine flu and equally eerie vaccine.

Here are some basic facts that I have dug up on the internet and you can add to these in the comment section below. These facts and sources are all accompanied by links to the sources for you to verify this information if you wish. Most all facts are from the Center of Disease Control, CDC.

What is 2009 H1N1 (swine flu)?

2009 H1N1 (sometimes called “swine flu”) is a new influenza virus causing illness in people. This new virus was first detected in people in the United States in April 2009. This virus is spreading from person-to-person worldwide, probably in much the same way that regular seasonal influenza viruses spread. On June 11, 2009, the World Health Organization (WHO) signaled that a pandemic of 2009 H1N1 flu was underway.

Why is 2009 H1N1 virus sometimes called “swine flu”?

This virus was originally referred to as “swine flu” because laboratory testing showed that many of the genes in this new virus were very similar to influenza viruses that normally occur in pigs (swine) in North America. But further study has shown that this new virus is very different from what normally circulates in North American pigs. It has two genes from flu viruses that normally circulate in pigs in Europe and Asia and bird (avian) genes and human genes. Scientists call this a "quadruple reassortant" virus.

2009 H1N1 Flu in Humans

Are there human infections with 2009 H1N1 virus in the U.S.?

Yes. Human infections with 2009 H1N1 are ongoing in the United States. Most people who have become ill with this new virus have recovered without requiring medical treatment.
CDC routinely works with states to collect, compile and analyze information about influenza, and has done the same for the new H1N1 virus since the beginning of the outbreak. This information is presented in a weekly report, called FluView.

Is 2009 H1N1 virus contagious?

The 2009 H1N1 virus is contagious and is spreading from human to human.

How does 2009 H1N1 virus spread?

Spread of 2009 H1N1 virus is thought to occur in the same way that seasonal flu spreads. Flu viruses are spread mainly from person to person through coughing or sneezing by people with influenza. Sometimes people may become infected by touching something – such as a surface or object – with flu viruses on it and then touching their mouth or nose.

Can I get 2009 H1N1 more than once? Nov 5

Getting infected with any influenza virus, including 2009 H1N1, should cause your body to develop immune resistance to that virus so it's not likely that a person would be infected with the identical influenza virus more than once. (However, people with weakened immune systems might not develop full immunity after infection and might be more likely to get infected with the same influenza virus more than once.) However, it's also possible that a person could have a positive test result for flu infection more than once in an influenza season. This can occur for two reasons:

1.A person may be infected with different influenza viruses (for example, the first time with 2009 H1N1 and the second time with a regular seasonal flu virus. Most rapid tests cannot distinguish which influenza virus is responsible for the illness. And,

2.Influenza tests can occasionally give false positive and false negative results so it's possible that one of the test results were incorrect. This is more likely to happen when the diagnosis is made with the rapid flu tests. More information about flu diagnosis is available at CDC H1N1 Flu | Diagnosis.

So, how many people are dying from this disease?

The CDC just released a report that over 4,000 Americans have died from the swine flu. While this number seems quite large and scary, in actuality the number is quite small when your compare to other CDC and expert death statistics.

Any death is a death too many, but why aren't we being warned about the death threats and serious issues like the ones below.

FACT #1

Sex Related Acts Will Kill You Before the Swine Flu

I better abstain and join the Catholic Church...



Source: Annual Causes of Death in the United States | Drug War Facts

Mokdad, Ali H., PhD, James S. Marks, MD, MPH, Donna F. Stroup, PhD, MSc, Julie L. Gerberding, MD, MPH, "Actual Causes of Death in the United States, 2000," Journal of the American Medical Association, March 10, 2004, Vol. 291, No. 10, pp. 1238, 1241.

FACT #2

Aspirin Will Kill 4 More Times as Many People Than the Swine Flu!

Better ban the Bayer....



Source: Aspirin kills 400% more people than H1N1 swine flu

FACT #3

You Are More Likely to Fall to Your Death Than Die From The Swine Flu.

On second thought, I'll take the elevator....



CDC - 21,647 people die each year from fall related injuries.


FACT #4

You Are More Likely to be Murdered Than Die From the Swine Flu.

Better go get that bullet proof vest.



CDC - Each year 18,573 Americans are murdered.

FACT #5

You Are More Likely to Choke or Suffocate to Death

No more chewing gum, eating or breathing for me...



CDC - 14,179 people die yearly from suffocation. ]]> Conspiracy Theories Moe Bedard http://www.loansafe.org/forum/conspiracy-theories/19070-swine-flu-facts.html WF 3 month trial-what to send? http://www.loansafe.org/forum/wells-fargo-american-servicing-company-asc/19069-wf-3-month-trial-what-send.html Fri, 20 Nov 2009 20:22:26 GMT I am almost ready to make my third and final payment in December, completing hopefully the 3 month trial period. I called WF and got two different... I am almost ready to make my third and final payment in December, completing hopefully the 3 month trial period. I called WF and got two different answers to what to send. One time I was told just to send the payment, the second time they told me to send payment along with recent paystubs, income and expense chart and new hardship letter.
Also, Tituinum Solutions came out to my house, anyone else been in contact with them? They said they have been brought on by Fannie or Freddie to help homeowners do their paperwork.
Also when you send the last payment do you send it certified or is it better to pay on the phone with a credit card..Sadly I should be able to go to WF for these answers but get more help here.
Thanks! ]]> Wells Fargo - American Servicing Company (ASC) jramberg http://www.loansafe.org/forum/wells-fargo-american-servicing-company-asc/19069-wf-3-month-trial-what-send.html Keeping up on 2nd to get modification on the my 1st http://www.loansafe.org/forum/chase-mortgage-tell-us-your-chase-story/19068-keeping-up-2nd-get-modification-my-1st.html Fri, 20 Nov 2009 20:10:23 GMT I talked to one of the debt collectors at Chase yesterday, and he said that I needed to keep up on my 2nd with Chase to show good will to get a loan... I talked to one of the debt collectors at Chase yesterday, and he said that I needed to keep up on my 2nd with Chase to show good will to get a loan modification on my 1st that is also with Chase.

Anyone know if this is true? ]]> Chase Mortgage - Tell Us Your Chase Story Hinderloppet http://www.loansafe.org/forum/chase-mortgage-tell-us-your-chase-story/19068-keeping-up-2nd-get-modification-my-1st.html GMAC mod approved: Questions about next steps... http://www.loansafe.org/forum/loan-modification/19067-gmac-mod-approved-questions-about-next-steps.html Fri, 20 Nov 2009 19:14:22 GMT Hello. My GMAC loan was approved for modification. I just completed the 4-month trial period and successfully made all my payments etc. I called... Hello. My GMAC loan was approved for modification. I just completed the 4-month trial period and successfully made all my payments etc. I called over the phoen and received confirmation that my mod was approved. I am expecting to see the documents today or tomorrow. I have questions, but I will outline some details.

Loan value is approximately: 357K
Before modification: 5.25% FIXED
Payment before mod: $2480
Rate after mod: 3.875% (5 years)

Essentially, the savings are $286 per month. I've heard of better outcomes, but anything helps.

Terms: 3.875% rate for 5 years; Year 6: 4.875%; Year 7 resets to original rate of 5.25%.

I have questions. :confused:

1. Do you have any insight about the terms of this modification and is there anything I should expect from this point forward?

2. Can I negotiate these terms? I've heard of some people getting rates that are permanently fixed at the reduced rate. Is there any chance of getting a permanently reduce and fixed rate?

3. I've heard "stories" that some people are locked into their mortgages if they accept modification. A co-worker says he must stay in hsi hosue for 10 years if he accepts his modification, or there are penalties. Are there any looming things I need to be on the lookout for, such as pre-payment penalties or contractual language that will be of concern, if I sign off on these documents??

4. My wife works part-time and is on the verge of becoming unemployed. We have 3 kids age 5 and under, so she is a stay at home mom. In the event that she loses her net income of $1300 per month, am I eligible to apply for a 2nd loan modification, or am I "stuck" in this loan modification until it resets? (I am working a 2nd job already, as I took a substantial pay reduction at my full-time job.)

Thanks in advance. I will be lurking. ]]> Loan Modification jsturner78 http://www.loansafe.org/forum/loan-modification/19067-gmac-mod-approved-questions-about-next-steps.html B of A, what does this mean? HELP http://www.loansafe.org/forum/stop-foreclosure-tell-us-your-story/19066-b-what-does-mean-help.html Fri, 20 Nov 2009 18:59:03 GMT I've been in the process for almost 4 months...I've been dealing with one guy for the last month on my modification and he's been updating me. I didn't hear from him for a week so I decided to email the head guys again and heard back that night, they contacted AJ (the guy I've been dealing with ) and he got back to them telling them that I qualify for the modification they are just waiting for it to get done and as soon as it is they'll send me the info.

What should I take this as meaning? Does it mean I will definetly get a mod? I know he told me they are looking for a 10% drop in income which we have.

What should I expect if I get papers? Does everyone get a trial period? and if you get a trial period are you guaranteed the modification if you make all the payments on time? ]]> Stop Foreclosure and Tell Us Your Story nygirl07 http://www.loansafe.org/forum/stop-foreclosure-tell-us-your-story/19066-b-what-does-mean-help.html Loan mod or BKRPT? http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/19065-loan-mod-bkrpt.html Fri, 20 Nov 2009 18:19:32 GMT We have a first mortgage ($200K) with CW/BOA, and a 2nd with Suntrust ($100K - it was quite a predator loan). They are both 18 months behind (9mths... We have a first mortgage ($200K) with CW/BOA, and a 2nd with Suntrust ($100K - it was quite a predator loan). They are both 18 months behind (9mths short sale dept, 9 mths MHA dept). Of course, the house is "underwater". It was over-appraised to start with :eek: (we didn't realize), and is now only worth about $180K.

I was hoping to modify the loan, then go bankrupt and strip the lien of the 2nd mortgage and take care of some outstanding credit cards. Eight months ago when I visited two different lawyers they thought lein stripping was not possible (state of GA) I've read otherwise however, and I just might have been cutting edge eight months ago! I plan on contacting them next week.

I've been waiting for the loan mod for 9 months now. They sent me one in July, and it was a good one, but after signing and getting it notorized, they cancelled it and said it was sent out by mistake. Since then I've been "waiting to be assigned to a negotiator" ??!!?? Ok, thanks.

Should I still try the loan mod then bankrupt to take care of 2nd and credit cards route, or would it be better to go bankrupt now, and hope the judge and bank and attorney can work it all out so we can keep the house? We can now afford to pay for the first mortgage, just not the second mortgage and credit cards. We're going to have to pay money to rent a house anyway, it may as well be rent to the bank for this house.

Thank you for any advice you can give. :) ]]> Countrywide Home Loans - Tell Us Your Countrywide Story bellebelle http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/19065-loan-mod-bkrpt.html <![CDATA[Mexico revokes Canadian miner New Gold's permit]]> http://www.loansafe.org/forum/gold/19064-mexico-revokes-canadian-miner-new-golds-permit.html Fri, 20 Nov 2009 18:09:58 GMT The Mexican government has revoked a permit granted to gold miner New Gold Inc. to operate at the Cerro San Pedro site in central Mexico. Read... The Mexican government has revoked a permit granted to gold miner New Gold Inc. to operate at the Cerro San Pedro site in central Mexico.

Read more at CBC News - Money - Mexico revokes Canadian miner New Gold's permit ]]> Gold bloominga http://www.loansafe.org/forum/gold/19064-mexico-revokes-canadian-miner-new-golds-permit.html How Banks View Loan Modifications http://www.loansafe.org/forum/loan-modification/19063-how-banks-view-loan-modifications.html Fri, 20 Nov 2009 17:32:32 GMT I found this article the other day, I think it provides good information about the way banks handle the Loan Modification process: How Banks View... I found this article the other day, I think it provides good information about the way banks handle the Loan Modification process:

How Banks View Loan Modifications - Mandelman Matters

Comments?


P.S. I tried searching for this article to see if it had been discussed here before, couldn't find it. If duplicate, please merge them. Thanks. ]]> Loan Modification otrora http://www.loansafe.org/forum/loan-modification/19063-how-banks-view-loan-modifications.html NPV test vs. doing the right thing http://www.loansafe.org/forum/loan-modification/19062-npv-test-vs-doing-right-thing.html Fri, 20 Nov 2009 17:21:54 GMT I have two mortgages and trying to get the first modified. LTV is about 50% on this loan and 50% on the second mortgage. I can afford the... I have two mortgages and trying to get the first modified. LTV is about 50% on this loan and 50% on the second mortgage.

I can afford the payment, but I had originally got behind because I was trying to pay all my credit cards too and robbing Peter to pay Paul you could say. We stopped paying the cards and are most likely going to file bk. We want to keep our house and move on.

It has been almost a year later and I am now working with the executive office to see what they can do.

Bascially, even though I am at 100% CLTV, wouldn't the first just take and satisfy their lien on a foreclosure sale first so they would lose no money in a f/c situation? Or would they do what they could to help us stay in our house?

I know they are looking at their investors, stockholders, and the bottom line, so it really didn't occur to me until now about how it would all go down in a f/c situation and now I am really scared. ]]> Loan Modification northcoastgirl http://www.loansafe.org/forum/loan-modification/19062-npv-test-vs-doing-right-thing.html Mod Approved according to online account http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/19058-mod-approved-according-online-account.html Fri, 20 Nov 2009 16:41:00 GMT Just found out mod was showing "approved" as of 11/19/09. Should receive package no later than 1/18/10. We have made 2 trial payments and scheduled the third for 12/1. Once we scheduled the third on 11/6 for 12/1 they marked the trial completed and sent to underwriter. Now just 13 days later it was APPROVED! ]]> Countrywide Home Loans - Tell Us Your Countrywide Story montana59451 http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/19058-mod-approved-according-online-account.html Anyone on trial mod but waiting on docs? http://www.loansafe.org/forum/chase-mortgage-tell-us-your-chase-story/19057-anyone-trial-mod-but-waiting-docs.html Fri, 20 Nov 2009 16:26:55 GMT I have been waiting for more than 6 weeks for my trial mod documents. I was current when put on a trial plan. When I made my first trial payment on... I have been waiting for more than 6 weeks for my trial mod documents. I was current when put on a trial plan. When I made my first trial payment on November 1st, I was transferred from imminent default to loss mitigation. But loss mitigation says they can't send my docs until I am 31 days late which doesn't happen until after I make my second trial payment Dec 1st. Today I was transferred by loss mit to "The Way Forward" 877 550 5705. The woman there told me she could just give me info about my account. She said I would have docs by next week. How many times have I heard this? Meanwhile all I have to confirm I am on a trial mod is a voice over the phone. I don't trust anyone! Every time I call I get a different story. It is laughable! Anyone else out there in this boat? Making trial mod payments, but no docs? ]]> Chase Mortgage - Tell Us Your Chase Story Dolphingirl http://www.loansafe.org/forum/chase-mortgage-tell-us-your-chase-story/19057-anyone-trial-mod-but-waiting-docs.html