I am 90 days overdue with Wells Fargo. I was ready to "walk away" in May, but a rep FROM Wells Fargo told me that I qualified for a modification that would bring my payment down to just over $500. I was elated. I was not living in the house but moved in August, but I could no longer make the payments. I had rented the house.
OK - so I have a file about 4" thick of docs I have sent into WF. The offers I got back were not all in line with what I had been talking to them about. I did get a real Modification offer, but it was $500 more than I can afford (My PITI, escrow are $1,250.) I purchased the house in 2005. In early 2006, less than 6 months in the house, I had a severve Multiple Sclerosis relapses. Seems I have it for maybe decades, but it went undignosed because I was highly function and mobile. I took off a few months and went back to work. It was a disaster. I went from making $10,000 in January 2006 and made $3,000 for the rest of the year. I cashed in my 401K and was ableto keep current. After nine months and not getting better, I applied for SSDI and moved in with a friend in another town to get treatment from a well know MS specialist. I paid the mortgage on my empty house for about four month and decided to rent it. I ended up living in my best friends guest room for one and a half years while I waited for SSDI.
The rent did not cover the mortgage and I had no income. Fortunately I have a wonderful father that was able to make up the difference. He was down-sizing and had no house payments at the time. He waited a year before he started building and lived with my brother for a year. He says it had nothing to do with my situation, but I do not believe that for one second.
I have more hardships in the last 3 years than my lifetime combined.
I was refused the first time for not living in the house, even though I was told that under my circumstances it would not matter. Well, it did. I was also told that I needed to budget AND get $600 more in income. Then I was told that "GINNIE MAE" had to come on board. I called GNMA to find out when they were going to start working with WF so I could reapply for a loan mod. I was transferred to someone whose sole job had become taking loan mod calls. He was not happy and even gave me his name and phone number in case I was mislead again.
Then, the focus became the "$600". I tried to make it through training to work as a part-time customer service rep over the phone. I flunked the training. One of my Doctors told me I could probably get a job, but not keep it. When I get stressd, tired or hot, my symptoms get worse. Moving back into my house in the middle of summer knocked me out for a few weeks. The stress of this loan mod is affecting my health - my hardship is getting worse.
I had to stop making payments when I moved back into my house. The payment went up $200 - flood insurance and taxes. My father cannot and should not keep me afloat. He is a retired community college teacher. But he has agreed to write a "contribution" which I was told would count toward my income - to bring the magic back-end number to 55%. But then the front end goes up. He is my payee and was putting about that amount or more to keep the mortgage current when there were renters in the house. Did get a loan modification offer - $995. Right. My gross income is $1355. My father has agreed to garantee funds up to $2,000 should I need them. Truth is - if my loan was modified to around $500, I could make my budget and still get by.
So ...I started reading about FHA-HAMP - so I called. I got the impression that WF would have to modify my loan if I qualified.
HERE IS WHERE I NEED HELP! I cannot get anyone - wells fargo or FHA to tell me if my fathers letter will count toward my income. Also, I had a college loan discharged. I will never have to make payments, but it shows up as "deferred". I have no - I mean no revolving debt. No credit cards, car payments - clear and clean. Score is low because a hospital overcharged me and I am NOT paying beyond my co-pay.
Now, with HAMP, I am already sending off requests for back tax forms and social security history etc. I need to do another Hardship letter attached to an affidavit. I called FHA and they told me that WF has to qualify me before anything goes to them. I don't know where I stand with wells Fargo. I call once a week and ask for forms and lists that I need to use to comply, nothing. To make matters worse, I have become absent minded, unorganized and my short term memory is in the lower tenth percentile (for real - I was tested).
I still haven't unpacked most of my boxes. Now I read I may have to pay good faith money? I will have some since I am living rent free, but it seems like a gamble - plus, the money I am saving now really goes to my Dad.
I need help in a lot of ways. I sleep in the day and spend almost all of my time trying to get my head around all of this.
I get a lot of insight from this blog, but I really do not see many success stories. I feel a connection to all the other frustrated people trying to jump through hoops that are either too high or move when you try to get through.
I really don't think I can handle another move. I was hopeful when I came back - now I think it was a mistake. I will not be able to afford another house - I don't want another!
Thanks for reading...if you got all the way through.
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