Req'ing Mod from Litton & GMAC...just starting

[hlane]

I just spoke with the collections dept...the rep states that our mod request was pre-qualified and sent to underwriting on the 8th of May. Too bad I can't believe her due to so much incorrect information the Litton reps provide me each time I call. And as always I was told to allow 30 more days

[nitag]

hlane, Call the ERT Dept and have them verify the information you were told. Then have them transfer you back to the collections dept and have whom answer that call verify again what you are told. Get it verified..

[Brenic]

Originally Posted by nitag

hlane, Call the ERT Dept and have them verify the information you were told. Then have them transfer you back to the collections dept and have whom answer that call verify again what you are told. Get it verified..

I agree with this. Yesterday I spoke with Sean in ERT and he said that there goal is to have all files completed within 31 days after the preapproval. So, I'd say it's probably good news for you. Someone should be able to give you the details.

[hlane]

Well what do you know...I called ERT today and found out I was given incorrect information yesterday
My file was not sent to underwriting, it was sent to the exceptions processing unit (??? I believe thats what she called it, not 100%).
I was told that the new BPO was ordered yesterday and for me to check back in a week or two.
I'm just going to start calling every couple of days like I had been because I am not going to let my case slip through the cracks. They were going to order a BPO a couple of weeks ago and here it wasn't even done until I called and brought it to their attention. UGH!!!!!

[hlane]

I spk w/ERT today...they state that they received our BPO back on Friday, 5/15. The mod is still in review with the exceptions group, allow a week or two more.

[hlane]

I just hung up with ERT....our mod was denied. They we did not show hardship and should be able to make payment as is. RIGHT!!!!!!
I dont know where to go from here

[Brenic]

Originally Posted by hlane

I just hung up with ERT....our mod was denied. They we did not show hardship and should be able to make payment as is. RIGHT!!!!!!
I dont know where to go from here

OMG...How late are you?

[hlane]

Originally Posted by Brenic

OMG...How late are you?

We keep jumping from 30 to 60 days behind....we were 60, just made a payment. We are already at 9.35% and it is due to reset in July again. It is a huge struggle every month to keep things going and paid. DH is saying he doesn't know how long he can keep this up, scrapping to get by.
I dont know if I should contact Hope and see if they can do anything. I feel sick!

[Brenic]

Originally Posted by hlane

We keep jumping from 30 to 60 days behind....we were 60, just made a payment. We are already at 9.35% and it is due to reset in July again. It is a huge struggle every month to keep things going and paid. DH is saying he doesn't know how long he can keep this up, scrapping to get by.
I dont know if I should contact Hope and see if they can do anything. I feel sick!

I'll call and see if I can get an update on mine. I'm 90 days late. I would call HOPE and go see a counselor.

[nitag]

Originally Posted by hlane

I just hung up with ERT....our mod was denied. They we did not show hardship and should be able to make payment as is. RIGHT!!!!!!
I dont know where to go from here

Hlane what was your hardship?

My hardship, my husband is in construction, no winter work so he was laid off in Jan - he found another job in March and is now making 50% an hr less then he normally does. My hrs were cut from 40 to 32 to now 28.

I got my packet today for my trial mod and will mail if off tomorrow.

Don't give up, but remember they will only modify to 31% of your gross income? Are you at that now?

Anita

[marilyn]

I am so sorry Hlane!! I feel I will be in the same boat. I haven't made a payment since Jan-the only paperwork I sent in was hardship and 4506t. They asked questions on the phone but didn't want to hear all the money that goes out each month...no bank statements or pay stubs were asked for. Just told me another 30 days. I think we are going to look for a new place to rent in July if this goes nowhere. I have our house up for short sale and don't want to take it off in case we get an offer. I am thinking we will drop the price to see what happens. If we get an offer, I'll stop the loan mod and go short sale IF they would let me. I figure, I'm catching up on other bills (we lost our business and a LOT of income or at least access to $) and hope to have enough saved for 1st and last on an apt or home. I just wish they'd say yay or nay so I could make plans. I hope HOPE now can help you. Don't give up just yet, see what they say. My husband filed BK. I am holding off to see what will happen w/this loan . I know I'll have to sooner or later but am hoping for a mod then I can rebudget to stay where we are. You are NOT alone!!!

[nitag]

Marilyn how long has it been since you applied?

[marilyn]

Nitag,
Applied for short sale in March then switched to loan mod in April (my husband found work back in state after he had been gone a few weeks out of state). I have not made a payment for Feb on. I know it hasn't been long but they haven't asked for as much paperwork as many others posting to this site so I'm a bit worried. They already had a BPO for our short sale, now they said they are pulling a credit report and if I prequal, they'll send me a package. They were pulling the report 2 weeks ago, don't know how long it'll take. Got the usual, could take 30 days.

[hlane]

Almost exactly 2 months ago my mod was denied for not showing hardship. I couldn't let it go as much as I tried because I knew something wasn't right. No one at Litton would take the time to discuss anything with me regarding the denial despite many, many calls, mainly to ERT. I asked repeatedly for at least a letter explaining the denial and I heard everything from they don't send letters, a letter had been sent, it would be checked into, all the way to I needed to request in writing to get my denial in writing.
Someone on another thread I started here Litton mod info that I didn't know... mentioned being denied but yet getting Litton to lock in their rate. I figured maybe I could at least get them do to the same for me.
I emailed Sean Wilson and never heard back. After a few days of waiting I sent another email to a address I found here and ask that someone return my call since I had yet to hear from Sean. Within a few hours of sending that email Sean called me.
As him and I were speaking I told him I couldn't believe that taxes & ins aren't considered as part of the payment each month if not escrowed. He told me that wasn't the case but they didn't use our exact numbers, it was an average that was calculated and added in based on the area we live. I told him I just didn't see how if that was the case we made too much money.
He looked at my file and said based on what they show our mortgage payment w/taxes & ins was only at 15% of our income I about fell over! I asked him to please explain how that could be and he said well we show monthly gross income as $7100!! I told him I wished that were the case but we only gross about half of that! He was almost as shocked as I was and it seems someone added our income twice and in all my calls in two months no one noticed this and I never thought to ask!
Sean apologized and asked me to fax him over 2 updated paystubs for my husband and our last bank statment to verify my income since I am self employed and our mod would be reviewed once again.
I sent those to him first thing this morning so now I anxiously wait...again.

[hlane]

I had asked Sean Wilson to call & confirm that he did receive my fax this morning. He never did call (surprise, surprise ) so I just called ERT. The lady I spoke with did confirm Sean received my fax & it's been forwarded to Loss Mitigation for processing. She wasn't very friendly or helpful (we've spoke before and she was short those times too, I think her name is Sharon). I asked her what the estimated processing time would be, she said there is no time line I'd just have to continue to call and keep an eye on things. Whatever...so anyway, thats what I'll be doing, babysitting Litton to make sure they do their job. Here we go again...........

[hlane]

I called Litton this morning, called the ERT number but got customer service. They said my loan modification has been approved for a trial period but my payment is now $1450!!!!!! Thats almost a $300 jump per month. Yes, that will be PITI but thats still above 31% of our income and is going to be a hardship for us. It took two calls but I finally got a rep that was kind, understanding, would listen to my concerns and not rush me. We spent about 30 mins on the phone going over our income and she wasn't sure how they came up the numbers for our trial modification. She emailed Sean Wilson my concerns along with the numbers her and I came up with. Her and I both came up with that my payment should be no more that $1283including PITI. She has requested Loss Mitigation look at our file again and present us with an update trial mod offer. So we'll see....
Good thing is, both reps told me not to make any payments at this time (we still haven't paid Julys payment). First trial payment is due 9/1, praying they get the numbers corrected before then.
*SIGH*

[davadad]

Well I have been on this roller coaster ride also with Litton.. My house ws in pre-foreclosure and then put on hold. I call every day to check status and make sure foreclosure is put on hold.. The only thing I hear is still in review and foreclosure on hold. Sale date is projected in December. Today I call as usual and speak to another rep from ERT dept and was told Sale Date of August 14th!!!! How could that be??? Does anyone have suggestions??? Please help...

[hlane]

davadad,

What dept are you speaking with? Have you tried speaking with ERT? Maybe email Sean Wilson?

[marilyn]

I received my loan mod paperwork and my payment is $1830 which is only $300 less than what I was paying. I tried to explain we lost our business and we cannot afford that payment. I was told in June that my payment would be $1483-we can afford that. I know they go off gross pay (why don't they go off net as that is what we actually put in the bank) and that equals somewhere around $1600. Then they add on escrow and put us way over what we can afford. Why don't they make the payment 31% of the income as they say? If they add in escrow obviously it's way more than 31% of income!!! my husband pays almost $1000 to his ex wife, we have 5 kids to feed and utilities. I was told they don't care what our bills are. Well, again I can afford a payment of 31% of income but if it's going to be another $250 a month we just can't do it. Why didn't they tell me that the payment would be 31% THEN escrow on top of that? I would have just said, take the house. I guess we're going to have to move to an apt. The biggest ones in town are 3 bedroom which does not fit us and our kids (4 boys and 1 girl so no boys can share the girls room as she's 15 and it's not right). Plus now that our credit is shot, we don't know if we can even find a place to live. We have no one to cosign and we cannot afford 1st,last and security if they want extra $ to cover their butt. I guess we wasted a lot of time. I'm going to stay here till they kick us out. There are 7 houses for sale right next to me. Good luck getting rid of the foreclosure.

[hlane]

Marilyn,

Did you call and verify the amount of gross income they are basing this on? I've spent all day on the phone with them for this very reason. I finally spoke to Brenda Garza (sp??) in ERT this afternoon. She verified that the 31% should be PITI combined. I explained the amount offered to me is above this she took the time to look over our paystubs and such and she agreed. She sent my info back to Loss Mit for them to readjust the offer, she told me to call back on Fri. Your guess is as good as mine if something actually is fixed but if I were you I'd be calling ERT to have them look into your numbers for you.

Good Luck!

[hlane]

As of this morning nothing had been done to adjust the trial loan mod payment amount I was quoted earlier this week.
I left another vm for Sean Wilson & then I left a voicemail for a manager of Loss Mitigation that I found on this forum.
I never heard back from either so about two and a half hours later I called back once again.
My voicemails must have worked because the rep advised me that a supervisor had just noted my account that the last trial mod offer was cancelled and a new one was issued.
The new trial payment will be $1146.25 and our first payment will be due 9/1/09!! I am very excited about this and pray this is the correct information and everything goes smoothly from here on out!!!!