TRIAL PERIOD COMPLETED - FINAL MOD for HAMP didn't get done yet - Well Fargo

[deanna]

Hi all,

My situation was like this - back on April we received the packaged stated that we were on the first step to the HAMP program and etc ...
After received the package - we sent information over along with 1st payment - then second then the last payment was due on July 1st 2009.

All payments were completed - until now, they haven't not yet send out the final mod - and what is intersting - that the step rate scheduled has already been approved and put in place since April 14th ...

We have called religiously from April to until now, we often got different stories such as the process take 30 days to get it done and we will get it etc ...So we decided to escalate this call to the Executive - as of today ...and still pending on the response from the negotiator ..

Have any1 in this position? They can't denied us if we completed the trial period for the HAMP program according to the CNN posting that we found on this website ... so if they are not moving on this by say Wednesday - We will write email to Susan Collins - the person was mentioned in this artical from CNN ...

Will keep you posted ...
any advice outthere?

[Evan Bedard]

Hi deanna,

Have any1 in this position? They can't denied us if we completed the trial period for the HAMP program according to the CNN posting that we found on this website ... so if they are not moving on this by say Wednesday - We will write email to Susan Collins - the person was mentioned in this artical from CNN ...

Will keep you posted ...
any advice outthere?

There are quite a few people who are in the trial period and just currently completed. They too have not had an answer to their permanent mod yet... You can try to email her if you would like and please keep us posted on what happens.

[PERSISTENT32]

I read a lot of banks are extending the trial period to 4 months because once you pay the 3 months they havent been ready to do the perm mods because they are procastiniating.

I have some questions about some verbage in my mod. It states, " If my final two trial period payments are received after the clost of business on th 15th calendar day of the last month of the Trial Period but before the end of the Trial Period, I agree that the Trial Period shall be extended by one calendar month, ( the "Additional Trial Period").

Is it saying if they received my trial payment after the 15th of any month they will extend it for another month. My trial states the payment is due on or before the 1st of each month. Has anyone paid it after the 1st? Will that extend your trial period?

[soworried]

I have been trying to see if anyone else had completed there trial mod also.
I just sent my last payment in last week. I'm so curious to find out if anyone is having to wait AGAIN...Do you make payments or don't do anything???

[johnmc46]

My trial period was also for the 3 months May,June and July. I apid my last payment on 06/25/2009. I've called them a number of times and they told me that they were inundated and I should call back next week which is the week ending 07/31/2009.
My Loan Modification should be effective 08/01/2009.

Wells Fargo does not appear to be following the Supplemental Directives issuedby
FannieMar/FreddieMac. https://www.hmpadmin.com/portal/docs/sd0903.pdf

Should a call be placed to FreddieMac 1-800-FREDDIE

[Hopefull2009]

One thing I worry about -- the guidelines state that your paperwork is reviewed immediately and if you don't appear to "fit" you will be notified ASAP and other workout options will be pursued. I hate to think that after 3 months of trial payments that they'll come back and deny it anyway. I'm making my 3rd trial payment August 1st. Originally when I applied I was told everything would be looked at immediately and the terms should be in place prior to 3rd payment. That was wishful thinking, huh?

[Vick2009]

I also made three months of foreberance payments. The last one was due on June 15th, of which I paid it on June 8th. I called them on June 9th to make sure they have received my last payment of which they confirmed "Yes".
They told me that if the mod is not done that I should keep on making my payment until I hear from them. So on July 8th, I made another payment and still waiting for the modification. This is with SPS.
I called yesterday and I was informed that my new proposed payment (subkect to management's approval) will go up by 650.00 more than the trial period payment.... OMG! I can't believe that at all. They told me to wait for the package and then all the terms and conditions will be in there. I either sign it or the payment will be defaulted to the original payment prior to any mod.

If my payment goes up, I will call and let them know that I cannot pay anything higher than the trial period amount.

Any suggestions on this?

[johnmc46]

I called WF this morning they told me the final loan mod papers were put in the mail
on 07/17/2009. I'll be chasing the mailman everyday

[delaysmom]

Deanna,
i live in Maine, Susan Collins's state. She is awesome, CALL HER anyway!! she will fight for you! She's rare, a Republican in Maine!
good luck!

I have a question and i can't figure out how to post a new thread (maybe i can't?) I have Wells Fargo, and Fannie Mae for an investor. I am in the final steps 8 months later and i need to complete my full financial statement. My question is this: when filling it out, do i want to show a small surplus or none? what type of debt to income ratio are they going to look at?

[soworried]

I'm working with Huntington Mortgage and as I have put in my previous reply to this thread, I'm in the final stages og trial modification.
I sent my 3rd payment out last week and as of today they have not received it, ugh.....
I also asked my rep about how longer of a process this will be and if I make anymore payments - This is the response I get back:

In answer to your question about how long it will take from here, my honest response to you is that I don't know. This is a new process and we're still working out the kinks. I will most certinly be in touch w/you as soon as I have updates.

No one even has a clue of what there doing. I have been going through this process since Dec of 08.....8 exhausting months and I just want it over with and to get them to finalize me

[delaysmom]

and did she say "certinly" ?? My goodness.....

[deanna]

Do you have a number to Susan Collins ? and should we contact Fannie Ma in regarding the date of processing ...until now - i called this morning - they still tell me to wait

[soworried]

Delaysmom - That was copied and pasted from the email I received from the woman at Huntington.

[delaysmom]

i know, i didn't think it was you i can't imagine sending emails with typos at work. like she doesn't have spell check...

Deanna- you can reach Sen Collins at 207-224-2523, fax 202-224-2693

[BadBobMo]

Originally Posted by johnmc46

I called WF this morning they told me the final loan mod papers were put in the mail
on 07/17/2009. I'll be chasing the mailman everyday

Ref: 09-25 Amends Commencement of the Modification
Currently, servicers must prepare the HAMP Modification Agreement (Form 3157), referred to
herein as the “Agreement”, in order to allow sufficient processing time for the modification to
become effective on the first day of the month following the final trial period month