Has a Single Person Been Helped by SunTrust

[Murray12]

That is great guys! It looks like I have a FedEx package coming soon, it was supposed to be sent on August 7th, but the tracking info just says information received. So hopefully it will be sent soon. Maybe mine is taking longer because of other issues I am having with SunTrust.

I am hopeful everything in the Mod agreement that I requested will be there. I am hopeful, but everytime I feel confident, something happens.

[New12]

Hey everyone!

I've been reading this forum for a while now, but its taken forever to join, get accepted etc....

I wanted to share my story with Suntrust!

I did get a loan modification. I was one of those lucky ones that got a 4%, 40 year fixed.

Heres the deal... I was never late on my mortgage, however, I had an interest only ARM, that Suntrust gave to me back in 2005. At the time I had great credit, no problems etc.. it was my first home and they told me I would probably only be in it 5 years, then I'd sell it, make a profit and move on.. well, we all know where we are today.

So long story short, back in March, I called the loss mitigation department and explained my situation. I told Suntrust that THEY put me in this mortgage, and THEY need to modify the ARM and the interest only. Basically, if the ARM adjusts, I will not be able to pay the mortgage.

So after a couple of months, after filling out the paperwork etc... I was approved for the 4% 40 year fixed. It was part of a "mass modification". There was no hidden agenda (I had a couple people look it over ) etc...

The reason I think I got to be a part of this modification was because my loan is actually owned by Suntrust. Its not a Fannae Mae or Freddie Mac. So I think that had a lot to do with it.

If you have any questions, let me know, I will be happy to answer them.

[david123]

I also received my fed-ex package last week, after reading all these threads we contacted our Hope now rep and they got us a conference call with Suntrust and 2 days later we received a trial loan modification. They reduce our monthly payments from $2560 to $2087. Its not what I hoped for but its better than nothing. We can't complain though since we haven't made a house payment since Dec. Hopefully after making the trial payments and sending in the addition doc's they requested we will get a permanent modification.

[lakerbob]

Are you guys showing a a $200 surplus on your budget, a defecit, or what would you advise?

[Murray12]

I am not sure lakerbob. If it is a Fannie/Freddie loan then they are supposed to modify according to the HAMP standards. The surplus does not come into play if you are already late and also for the credit counseling requirement. If you are not late, they may use the surplus to disqualify you as a risk of imminent default.