In house modification ?????????

**Jim007** · 04-27-2010, 03:45 PM

Hello all....New to the boards.... I've been in HAMP for the last six months making modified payments on time every month.....Getting info out of these people is like pullin' teeth...At any rate I was denied for the mod cause I do not meet the 31% critieria...Now I'm told thier lookin' to modify my loan in house....told me I should keep makin' my modified payments....Should I keep sendin' them money or should I save it for the inevitible ?...Has any one had any success with an in house mod ?

**Evan Bedard** · 04-27-2010, 07:19 PM

told me I should keep makin' my modified payments....Should I keep sendin' them money or should I save it for the inevitible ?...Has any one had any success with an in house mod ?

Welcome and thank you for joining.

First off I would talk to a few more reps before making a decision about continuing paying or not. More often than not reps will give you the wrong information about your case. If they are indeed reviewing your account for an in-house modification then there is no reason to continue paying the trial payments..

BTW who is your lender?

**pumpkingirl** · 04-27-2010, 07:25 PM

Can somebody please tell me how to start to post from scratch? I didn't mean to reply to this post, but I can't find where to start. Thanks. pumpkingirl

**CMI2010** · 04-27-2010, 07:46 PM

for pumpkingirl.

There are many ways. However, one way is go to link below and choose topic that you want. Somewhere kind of top of page there is an image button says "New Thread"
http://www.loansafe.org/forum/

Good luck

**Maurice Bedard** · 04-27-2010, 10:30 PM

If you continue trial payments after the official 3 month hamp trial, you are getting further behind each month according to the original loan documents.You will sooner or later, maybe already are at least the total of one full months payment behind. The trial plan itself says that if they don't modify at the end of the trial plan, the difference becomes due. By not paying your full payment, and making up the difference from your trial, you are giving them ammo to use to either foreclose or pressure you to accept an inferior in house modification that will add all your missing payments to your loan, if they don't make them due immediately. Some on this board report that ballon payments are due before the banks will consider a modification.

**Jim007** · 04-28-2010, 02:53 AM

@ Evan ....My lender is ASC ...Wells Fargo..

**Evan Bedard** · 04-28-2010, 06:49 AM

Some on this board report that ballon payments are due before the banks will consider a modification.

******- The balloon payment is typically for a forbearance plan, a lot of forbearances lately have been coming with a large balloon payment after the 3-6 month period is complete..

Jim- Give them a call today and request to speak with a manager to verify whether or not you have been denied the HAMP program.

**Jim007** · 04-28-2010, 10:12 AM

@ Evan.....Ater my 4th mod payment ...customer service rep hooked me up with a gentleman in loss mitigation....He bought all my info up and kinda pushed it through for me.....Called him 2 weeks ago ..I speak with this guy often ....All he really does is verify info...but he does help me out a little ...Told me he was no longer handling my case it moved on to another level...call customer service for more info....I do...They tell me I was denied , lookin' to do an inhouse mod....OK call my guy back in loss mit...hes says this is not true says I'm movin' into HAMP 2 .. I should recieve a new packet in the mail soon...so I call cust service back to verify this and they have no record of anything being or going to be sent to me...I'm on the phone 2..3 times a month with these people...always get a different story ...I'm gonna call my guy back in loss mit see what he can do for me...He told me I should keep up the modified payments...What do you think Evan? Everytime I ask for someone who can help me out a little more they tell me there isn't...Well I guess it's time for me to get a little pushy.....

**Evan Bedard** · 04-28-2010, 10:28 AM

hey tell me I was denied , lookin' to do an inhouse mod....OK call my guy back in loss mit...hes says this is not true says I'm movin' into HAMP 2 .. I should recieve a new packet in the mail soon...so I call cust service back to verify this and they have no record of anything being or going to be sent to me...I'm on the phone 2..3 times a month with these people...always get a different story ...I'm gonna call my guy back in loss mit see what he can do for me...He told me I should keep up the modified payments...What do you think Evan? Everytime I ask for someone who can help me out a little more they tell me there isn't...Well I guess it's time for me to get a little pushy....

Avoid customer service by all means! This is a perfect example of how one dept has no idea what the other is doing. Keep in touch with loss mitigation because more often than not customer service will have incorrect information to tell you..

**Jim007** · 04-28-2010, 04:03 PM

Thx for your responses Evan......Cruisin' around the boards I see you've been here a while..You seem to be very knowlegable about the process and its shortcomings...and respond to alot of threads with your opinions and facts.....Now back to one of my questions ..Should I keep sendin' my lender my original modified payments...or should I just wait the process out now ...I mean I'm already in defaut ...You don't have to answer..cause when it comes down to it the decision gonna be up to me... Put yourself in my shoes ....what should I do...