Post NOD in-house mod offer a scam?

**Mamastacia3** · 10-17-2011, 03:07 PM

Hello! We received our NOD in mid-September, and now our servicer (AHMSI, investor is Wells) is offering a VERY low-payment in-house modification. Since we are already in the foreclosure countdown, are they just trying to get a little cash out of us before foreclosing? Why would they offer such a great deal after already sending us a NOD?

If we're going to end up being foreclosed on anyway, we'd like to save our money and not pay them for three months and still get kicked out. Anyone's advice appreciated - is this a typical "fraud" type action on the part of the bank or can these last minute mods actually work out? I'm suspicious because it just seems too good to be true. Advice please!! Thank you!

**Cat Damiano** · 10-17-2011, 05:41 PM

You have to read the fine print at the bottom of anything you receive, it will normally say not affiliated with the lender. Once you receive an NOD, your information is public record and you will get tons of scam mail. If you want to find out if the offer is legit, call the number you have been calling directly for your lender and ask if they sent it, but do not call the number from the mailer.

**rogerparco** · 01-19-2012, 06:21 PM

I'm not sure if this is the right thread but I thought I would ask my question here. I am in foreclosure and my servicer (CitiMortgage) states that the owner/investor (Hudson City Savings Bank) wont allow modifications to loans. We clearly qualify for a modification based on HAMP's NPV analysis. Is City just saying this in order to make money on their fees? If we foreclose the owner will lose over 100k based on the analysis. Seems like a joke that they wont modify.

**motorcitymadness** · 01-20-2012, 06:06 AM

roger,
Not all investors have to participate in HAMP. I would be willing to bet that Hudson City Savings is one what does not. I would contact Citi and ask that you be considered for an In House Mod. You may also want to list your information on the thread below. Somebody will give you an idea if you qualify and perhaps what for.

Find out Now If you even QUALIFY for a Loan Workout Solution. Post Your Situation

Good Luck,
Motor

**ASPIRE4GRACE** · 01-20-2012, 10:22 AM

Originally Posted by Mamastacia3

Hello! We received our NOD in mid-September, and now our servicer (AHMSI, investor is Wells) is offering a VERY low-payment in-house modification. Since we are already in the foreclosure countdown, are they just trying to get a little cash out of us before foreclosing? Why would they offer such a great deal after already sending us a NOD?

If we're going to end up being foreclosed on anyway, we'd like to save our money and not pay them for three months and still get kicked out. Anyone's advice appreciated - is this a typical "fraud" type action on the part of the bank or can these last minute mods actually work out? I'm suspicious because it just seems too good to be true. Advice please!! Thank you!

No one ever answered the OP's question, and they never came back and told us if the offer was a legit offer from the bank. But, assuming it was a legit offer, YES, these last minute mods DO actually work out. In my specific case, the bank had ALREADY foreclosed on us and STILL gave us the modification. That was over a year ago, and we are still in our wonderful home and making our lower modified payments every month! Not necessarily a scam. As Cat posted earlier, it depends on whether it is a legit offer from the bank. If so and you want to stay in the home, I'd go for the mod. They can postpone or even rescind the foreclosure. Let us know what happened...