Nationpoint loan serviced by Home Loan Services

[yammay3]

Hello Everyone,

I am so relieved that I found this site. I have read so many postings and various different threads that I have found the strength to fight HLS.

Here's my story:
Why I ever went to Nationpoint for a loan, I'll never know??

I thought I had a 3-year adjustable rate loan that would adjust in Oct. 2008. I started receiving notices from Nationpoint in June 2007 stating that my loan was adjusting. I quickly called to tell them this was inaccurate. They had their research department look into it and determined that I was correct.
Life and my loan payments went along without a glitch.
Then on December 19, 2007 after I paid my Dec. payment. I received another bill with a new payment amount for the month of December 2007. Who has ever heard of double billing for the same time period, especially after I paid the first December statement amount on the time.

I was told that my loan adjusted on the November statement I owed a delinquent balance. I fought with them for weeks. Finally, I was told after I repeatedly called them trying to find out what was going on that my loan was a 2-yr adjustable with 3-yr interest only rate. WHAT?!!!

For a year, I struggled with the 6-mos adjusting payments and applied for a modification twice while current with payments. Of course they never approved the modification.
Finally, I missed my first payment in December of2008 due to a loss of income. I just pick up a second job that makes up for the previous loss of income. I have been given the runaround and don't know what to do.

My loan originated on November 2005
with a 5.25% interest rate
It has adjusted up to 8.125% now
I just received my NOD letter yesterday. It was recorded on 2-25-08.

I called them today and was told to submit another loan modification package and either fax or overnight it.

[yammay3]

Also, I have a question about the loan package. When I am writing down my financial information should I have a positive or a negative balance?
If positive, what is the range that they approve in?
The same question for the negative.
I currently am how $250 in the negative, but I do have an option to allow my friend to temporarily move in with me but I would rather not.

When writing my hardship letter, should I state I am a victim of a predatory loan broker?

[yammay3]

I submitted my new loan modification package last Thursday. I was surprised to receive a call on Friday that my package was being processed for a 3 month pre-modification package. I will update when I hear something else.

[Moe Bedard]

The three month would be the trial modification..........if all three payments are made on time and completed, they should be able to work a more permanent modification at that time, provided there has not been a change in financials.

here are the guidelines for the program..........
http://www.treas.gov/press/releases/...guidelines.pdf

[yammay3]

Thanks *** for the guidelines of the modification program you sent.
It was a lot of helpful information.
I'll keep you updated.

[yammay3]

I just received a call that my loan modification was approved!!!!
On Monday I will receive a fax that details the stipulations with an affordable payment over the next three months which include an escrow account for my past due property taxes. If I pay on time (March 31 April 30 and May 29), my loan will be modified on August 1, 2009 to my original loan interest of 5.125%. They will immediately stop the foreclosure proceedings the moment I make the first payment, so the foreclosure attorney doesn't keep racking up fees.

I think that's a good deal.
Is anybody getting a lower interest rate out there?

[Moe Bedard]

they are following the guidelines to get to the target of the 31%.........so the rate that it takes you personally to get there.............wouldn't necessarily be the same as the rate and terms it takes someone elses situation to get there.

[yammay3]

I received the stipulation letter today. Thanks to this forum and the great information out there, I was able to get this pre-modification. I was so stressed and had almost lost hope. In two weeks, I went from being in foreclosure to suspendings the default and receiving a 3 month pre-mod which if all goes well should result in a permanent modification.

With the knowledge that I gained from the forum, I read that letter with such a critical eye that I found several errors that they had to correct before I could finally sign it.
I sent in the first payment due on the 3-month pre-mod. I got a call from my representative that confirmed, I was no longer in active foreclosure.

I used one of the sample hardship letters that I found on this site. My rep. stated to me that I had a well-written hardship letter and wished all the ones that she received were as detailed and organized as mine.

Thanks Forum for all of the insightful advice!!!!

[yammay3]

Hello Everyone,

Just want to give a quick update.
My modification was approved after the 3 month pre-mod.
My interest rate is fixed at 5.125% for 5 years. I really wanted a
30 year fixed rate but they said they couldn't do that. They rolled all my late payments back into the loan and removed all my delinquencies from my credit report. It currently states paid as agreed.
This forum was a godsend at a time when I had almost given up. I learned so much from reading all the various threads. I think I might have lost my home if it weren't for loansafe.org.
Of course now, Nationpoint doesn't make you do the 3-month pre-mod for
those of you out there negotiating.

Good Luck!!!

[nitag]

Congrats..