Has a Single Person Been Helped by SunTrust

[Murray12]

Really, I have not seen one single success story in regards to SunTrust. There solution seems to be offer forbearance agreements and.... then who knows.

[Moe Bedard]

To be honest, I have never seen one and searched high and dry.

Loan Modification Forum - LoanSafe.org - Search Results

They must be one of the worst to deal with!!

[Murray12]

Yes, trust me Moe, I know...

I have just been denied for a MHA mod. SunTrust is saying Fannie Mae won't except extended unemployment benefits as income. The MHA regulation by Fannie Mae states that servicers must determine whether the benefits will continue for 9 months. It is clear to everyone that there are extended unemployment benefit right now! It is a federal law! So ridiculous!

SunTrust kept having problems with my mod, everytime I answered them they came up with another problem. Such a joke. I am not giving up. I doubt it was Fannie Mae.

I have been holding off on submitting a complaint to the Mass. division of Banks and AG. I can't wait much longer.

I hope you allow me to post my link to my blog about SunTrust Predatory Lending. It is not spam, not selling anything, no ads just trying to get attention. I am just so MADDDDDDDDDD!!!

I am going to stick around and help where I can.

[B Stevens]

I have a family member who was put into short sale by SunTrust. She is now requesting the Trust Deed (They do not have it because they used MERS to electronically store the deed which I believe is unacceptable by real estate laws). She will find out more on July 2nd... So far the short sale has been stopped because of pending litigation and SunTrust is asking for more time to "find" the Deed.

[Murray12]

SunTrust has actually altered documents in my file. I received documents at closing. I QWRd them, they responded saying I received all the docs at closing and it would cost me $5.00 each doc I requested. So not only are they altering bank records, they are charging me to see them. You can see the scans of this on my blog in my profile. I have another document that they altered that I have not scanned in yet. It also appears that one person forged another person's signature and possibly mine!

I stopped posting on my blog and sending letters as I honestly thought it would be different this time and I would proceed with the modification and then negotiate the predatory lending seperately.

If you have a SunTrust mortgage check everything!

[flproblem34]

I had a friend that was recently approved and it seemed TOO EASY. I have been going back and forth with GMAC and getting no where. I talked to her about it and she went online with Suntrust and filled out the forms and got the mod about a month later. They dropped her rate to 4% fixed, 40year and she was able to skip a payment.

[accension]

Flproblem34, that sounds good but doesn't sound right. There must be something this individual is not telling you, because I've not read or heard from anyone personally who was able to get it done smoothly with suntrust. I would like to hear from someone directly who was able to get their loan mod through suntrust (mainly because I'm trying to do the same).

I also have a friend who did it, but he did it the risky way and stopped making payments. It was not a one month thing, it was several months of non payment and he was risking pre-foreclosure proceedings.

I'm going to update my other thread but it's been 3 and a half months now for me trying to get the loan mod.

[Murray12]

I see on here Citi, Chase, Bank of America, all the other big banks modifying loans. SunTrust is flying under the radar.

[Murray12]

It seems that they are going to report on individual banks progress, so we will see who is helping.

[Murray12]

I posted this in another thread, but figured i would add it here. This is a list of the hold outs for the presidents mortgage modification program. SunTrust is the number #1 holdout as of the writing of the article. No surprise here!
Gov’t Foreclosure Program: Who Are The Holdouts? - ProPublica

[B Stevens]

Update on family member + SunTrust
Seems after a real estate lawyer went over all of the loan paperwork, he found several instances of fraud. Signature fraud, disclosure fraud as well as fraud pertaining to who or what owns the property.
A lawsuit has been filed pointing out the fraud and asking for about $1.5 Mil in damages for payments made, credit ratings destroyed and financial hardships citing monetary gain as the motive for SunTrust. I should know more in about 2-3 weeks and I will try to keep people updated. I truely find this amazing that a lender would do business like this. If you are trying to negotiate with SunTrust, you may want to look over your papers and contact someone who specializes in real estate fraud. I do not think this is the only case.

[Murray12]

It is amazing that you post that! It also appears to me that SunTrust has committed signature fraud on my account. They also have altered federal documents. You can see the copy at SunTrust Predatory Lending I have been telling people who have SunTrust to check everything. What state is this in? I would love to see the copy of the lawsuit.

[juskilentime]

My last payment to SunTrust was January 2009. I did an 80/15 purchase in Oct. 2006. I currently owe ~ $295k on both mortgages.

I went to SunTrust's online loss mitigation questionnaire and completed it on January 30, 2009. I have faxed, refaxed and re-refaxed hardship letters, paystubs, W2s, bank statements, etc. Their collectors call me 6 days a week, every week, every month and I get a door hanger about once every 4 weeks (my guess is SunTrust has hired someone to make sure I haven't bailed). I call once a week and have since March 26. My last update was the appraisal came back at $164k and now it's back to the assigned loss mitigation person.

Just amazing that it has taken so long and still no resolution. If and when a modification is offered, it may be in my best interest just to short sale or go to foreclosure/bankrupcy since the value is $131k less than I what I owe. I can't see the value ever going back to that level and may be best to take the pain now and recover than to go through all this 5 years from now.

I'm tired of worrying all the time.

[B Stevens]

Murray12 it is in California. I get to sit in on a meeting with the lawyer on Saturday and I will get more info. Fraud for monetary gain is worse than just fraud. They are capitalizing on falsifying records and documents. I know you are across the country so real estate laws may be different but please get an experienced lawyer, show them your documentation, start your litigation and stop them from continuing to mess up your life and other people's lives.

[snapple candy]

Good luck you guys on your fraud cases. If people dont start suing and holding these lenders accountable, they will get away with it.
Justkilentime, I am in the same thought process as you. Take the pain now instead of in 5 years, maybe walk away during a time it is acceptable to do so. In 5 years in wont be so acceptable to walk away? Im 110K underwater myself and dont see recover or break even for 10 years maybe. I am on trial mod program but awaiting the final terms. I am not expecting it to be worhtwhile. Expect the worst, hope for the best. Too many people waiting for perm mods and no final terms yet.

[B Stevens]

So he looked over my paperwork and noticed I do not have a beneficiary on the trust deed filed with the county. It is just blank. He also went through my escrow instructions. According to the Debit / Credit columns, I own my house which say the property is paid off. I saw the promisary note but only my signature exists on the paperwork. There is no signature from a representative of the bank. Are they so big they do not have to sign anything? Did they commit fraud by not telling me who owns my house in a disclosure? As far as the title company is concerned, I own my house. As far as the bank is concerned, they own my house. According to law, whoever the beneficiary is, owns my house. Deed of Trust legal definition of Deed of Trust. Deed of Trust synonyms by the Free Online Law Dictionary.

I am all about paying what I owe. What pisses me off is the fact they loaned money to me that I did not qualify to pay back. If I did qualify, why can't I refi to a fixed rate? Why won't they tell me who or what loaned the money to me? I have a feeling the banks made A LOT of mistakes pushing through all these loans. Pushing the appraisers to give a high value to property. Not filling out documents completely in an effort to "protect" their investors. Creative financing for people who were having trouble qualifying for conventional loans. Etc.

Eventhough I feel obligated to pay my debt, I also feel obligated to expose the wrongs of the banks and lenders who we were supposed to be able to trust since they were supposed to be the experts at lending money. Now the question remains - Do you act like the guilty person at a trial trying any way possible to get off on a technicality? Or do you just take the punishment you asked for not fully understanding what or how the lenders were being predatory?

[Murray12]

Is SunTrust even doing HAMP mods?

My goal is to be the first success story or help someone be the first success story with SunTrust.

[rickmc]

Hi Murray

I read on your Predatory Lending blog that you had contacted your Congressman and local State Senator on July 1. Did that achieve anything at all in the last five weeks? It's one of the things I was considering doing.

[Murray12]

My local rep was great, I needed help getting something from the Labor Division, and they contacted them for me and sped the process up. Not sure how much he could help with the loan mod.

My state congressman has not responded. I have read that other state congressman are very helpful even calling for you.

Rick make sure you check everything they say, no matter who says it.

Plus watch what you say on the phone, they told me they went back and listened to all my phone calls to them.

No one is allowed to talk to me now except for a person that is very high up and she is spreading the same wrong info as everyone else.

I believe they pick and chose who they want to modify, which is not the way it is supposed to work.

[classic1]

We did get our 2nd, HELOC, modified to 4% dropping our payment in half, On the phone without signing anything on 1st phone call.....Sounds as though we should be thankful our 1st wasn't with them.

[Murray12]

They also offered me a modification on the second, but I don't qualify for a modification on the first. Makes no sense, but I think I know why they are doing it and may post more later.

[rickmc]

Success!

Received our Suntrust MHA Loan Modification Trial Period Plan by Fedex Express this afternoon.

Repayments reduced from $2603 to $1250 per month.

Off to fill in the accompanying forms and return them with the pre-paid Fedex label.

[lilley45]

We received our loan mod Fedex package form Suntrust today also. Been trying since March. Should we have an attorney review documents? I'm a little nervous about trusting these people. Reduced our payment from 1730.00 per month to 1300.00. Reduced our interest rate form 6.125 to 2.25%. We were current in our payments and getting nowhere with an answer. Hubby called on a Monday and said we cant pay Aug payment so they will have another foreclosure on their hands and they called us back Wednesday and said paperwork on its way with loan mod details. Good Luck

[rickmc]

Originally Posted by lilley45

We received our loan mod Fedex package form Suntrust today also. Been trying since March. Should we have an attorney review documents? I'm a little nervous about trusting these people. Reduced our payment from 1730.00 per month to 1300.00. Reduced our interest rate form 6.125 to 2.25%. We were current in our payments and getting nowhere with an answer. Hubby called on a Monday and said we cant pay Aug payment so they will have another foreclosure on their hands and they called us back Wednesday and said paperwork on its way with loan mod details. Good Luck

Hi

I'm a little confused. You say you were getting nowhere, and now you have your loan mod, but I see no mention of the Trial Period Plan. Have you actually received that, rather than the loan mod?

Whichever it is, whether you have an attorney review your documents must be your own decision. I am not an attorney and this is not legal advice. I can only tell you what we have done. We thoroughly read the documents, found nothing onerous in them and completed and returned them.

Incidentally, we had also decided to withhold our August mortgage payment, and we also saw a rapid response. We assumed that that was the result of involving HOPENow.org, but now we're not sure.

[lilley45]

Hi: We received our Trial period loan modification paperwork also. I realize you are not a lawyer, just wondering as a fellow mortgage holder if you felt the need to have an attorney review papers. After careful review I also see nothing onerous and will sign and send our paperwork also.
Thanks