We got it, yay!

[kymmer116]

Lous called and we got the HAMP modification!! Starting on Dec 1st our new PI along w/escrow payments will be $1948!! It went down from almost $3700! Our new interest rate for the next 5 years is 2.625% and on the 6th year it will go to 4.94% It is currently at 8.8% . No balloon payment either. So I wanted to share, good luck to all in the process if you get Louis as a negotiator he is very helpful and a great source of information.

[BobandArlyn]

Yahoo! Congrats!

[Melanie702]

Originally Posted by kymmer116

Lous called and we got the HAMP modification!! Starting on Dec 1st our new PI along w/escrow payments will be $1948!! It went down from almost $3700! Our new interest rate for the next 5 years is 2.625% and on the 6th year it will go to 4.94% It is currently at 8.8% . No balloon payment either. So I wanted to share, good luck to all in the process if you get Louis as a negotiator he is very helpful and a great source of information.

Ohhh AWESOME!! Congratulations. This is the news I love to hear. GO RELAX now!!!

[caldwellb02]

so wonderful to hear good news. Congrats!

[manlanbi]

WOW you received a great deal ...congratulations. Make sure to read the p/w when it arrives. I received my mod also back in August. The amount they quoted on the telephone was $600.00 higher on the paperwork. I signed any and set to make my first payment on 11-01-09. I checked the website today just to see if my information was updated only to see that they added an additional $335.00 to the monthly payments which brings me back to paying $235.00 more prior to the modification ( go figure). I called my lawyer and he is on it. I will not pay anymore than what I agreed to. They are really out of control. They do this to report that they did do a modification and get the govt money when it fact it was no modification at all.

[kymmer116]

I will read everything they send out. As of Oct 1st there is nothing (paperwork wise to sign) I feel very fortunate and I hope all what they said. My negotiator said that when I get the paper work to call him with any question's. I had a payment set up for Nov and I was advised by him to cancel it so I did but CS seemed clueless and a tad rude until they read his notes and that I was advised to do so. I'll still keep you all updated!!!

[brynne]

Hey Congratulations!! That is awesome. It gives hope to all of us.

[townie271]

Congratualtions!!!! you must feel like the weight of the world has been taken of your shoulders. I have a question we just found out our negotiator at ahmsi is fred iaello and I can't eave him a voice mail all the mail boxes at ahmsi are full. Would anyone know any e-mail address at ahmsi that could help get through to them. Thanks

[kymmer116]

I would call Jeanne Drake and Jim Davis and leave messages. Tell them you can't get in touch with your negotiator b/c his mailbox is full. Also call the home retention department, they will be helpful too.

Yes I do feel relief, just waiting for the paperwork to arrive. Good luck!!!

[jtmd99]

Congrats! That is great news!

A couple of questions for you:

1. How long did you have to wait between getting assigned to a negotiator and receiving the offer?

2. Were you behind in your payments or did you keep up with your payments throughout the whole process?

Thanks!

[minknmelissa]

Congratulations now you can sleep peacefully

[ama125]

Congrats! Always makes me happy to see someone achieve success! Just make sure they follow through on their end!

[kymmer116]

Originally Posted by jtmd99

Congrats! That is great news!

A couple of questions for you:

1. How long did you have to wait between getting assigned to a negotiator and receiving the offer?

2. Were you behind in your payments or did you keep up with your payments throughout the whole process?

Thanks!

We got our negotiator and I approval on on the same day. It was quick. I am not finding out more about all of this and I'm scared, I just posted another thread.
Yes were were behind 2 months due to pay this month, which I had set up and was told to cancel it which I did. I probably will reset that up. I am very nervous for this now. I called our negotiator and left 3 messages but haven't heard back b/c I have more question's.

[jtmd99]

Originally Posted by kymmer116

We got our negotiator and I approval on on the same day. It was quick. I am not finding out more about all of this and I'm scared, I just posted another thread.
Yes were were behind 2 months due to pay this month, which I had set up and was told to cancel it which I did. I probably will reset that up. I am very nervous for this now. I called our negotiator and left 3 messages but haven't heard back b/c I have more question's.

Thanks for the reply. It does seem quick to me, I was assigned to a negotiator 6 weeks ago and haven't heard from them yet despite leaving messages. I have luckily been able to keep up with payments to this point but not for much longer. Hopefully you receive paperwork on your new loan soon.

[townie271]

Has anyone dealt with Fred Iaello at AHMSI?

[kymmer116]

Originally Posted by jtmd99

Thanks for the reply. It does seem quick to me, I was assigned to a negotiator 6 weeks ago and haven't heard from them yet despite leaving messages. I have luckily been able to keep up with payments to this point but not for much longer. Hopefully you receive paperwork on your new loan soon.

I was in the process for about 6 week's prior to the negotiator, but then it did go smoothly. Good luck.

[townie271]

I finally got a hold of Fred Iaello our negotiator at AHMSI, and he had just got back from Save the dream!!!My negotiator I spoke to six weeks ago has left the company Amy Marchedo. She was waiting on one thing. now I have to resend more paperwork and he needed to take a look at my loan he was not farmiliar with it.
Naca submitted AHMSI Feb 23 2009
Naca submitted CITI Jan 2008
Naca submitted Ameriquest July 2007
Mortgage has been bought twice since this nightmare has started.Still waiting Mod!!!

[rlhoneydew]

kymmer116,
Hi, that is a GREAT modification!!!! It is wonderful to see some good news here! I am hoping to receive my final paperwork any day now...

**I have a question for you... At what point was your interest rate cap determined?**

Saxon is telling me that it will be around 5.35% which was what the interest rate was when my trial was started in June '09 (I am on the 3 + 2 trial payment plan ). I thought (it is kind of unclear when you read the gov sites?!) it should be determined when the final paperwork is processed (which would be a MUCH better rate as rates have gone down since then).

Freddie Mac shows 4.87% today!! WOW

I would appreciate your reply . Thanks & Congrats!

[kymmer116]

Originally Posted by rlhoneydew

kymmer116,
Hi, that is a GREAT modification!!!! It is wonderful to see some good news here! I am hoping to receive my final paperwork any day now...

**I have a question for you... At what point was your interest rate cap determined?**

Saxon is telling me that it will be around 5.35% which was what the interest rate was when my trial was started in June '09 (I am on the 3 + 2 trial payment plan ). I thought (it is kind of unclear when you read the gov sites?!) it should be determined when the final paperwork is processed (which would be a MUCH better rate as rates have gone down since then).

Freddie Mac shows 4.87% today!! WOW

I would appreciate your reply . Thanks & Congrats!

Hello, what is the 3+2 trial payment plan??? Did you qualify for the HAMP? That is what we go. Our trial payment is scheduled to begin Dec 1st. Our payment's for the trial period AND the next 5 yrs will be the same (at least I hope as that is what we were told) our interest rate is 2.625% for 5yrs then 4.94% there after for the life of the loan. Our final interest rate was what the current rate was the day of our approval. HTH KEEP ME POSTED!!

[rlhoneydew]

Hi kymmer116,

We are currently on the last "Trial Payment" with our HAMP Modification (Oct 2009).

The 3 + 2 is: Originally agreed to 3 trial payments (June, July, August), then it was, in theory, finalized. They had "missing" documents so they extended our trial payments two more months (Sept & Oct). Suppose to begin 11/1 under the final agreement.

I may have misunderstood your situation... I thought you had received your final docs?! I think you are starting your trial payments, right?

Our agreement should be:

Approx 2.25% for 1st 5 years.
1% increase per year until it reaches the "Cap".
Then our payment will remain constant until the end of the loan.

My question was regarding when they determine the rate cap, at the time they initiate the trial, or when they prepare the final documents?

If you are just beginning your trial payments, call often to confirm they have everything they need. We did, and they confirmed all was well, then we received a notice in the mail saying they were missing our "2008" tax return, & they are "granting" us 2 more trial payments to give us time to provide it. We had already submitted it twice... We have Saxon, so you may not encounter this. Although, reading through all the posts, it appears to be a commmon occurrence .

[kymmer116]

Ok I got it now Yes we are in the beginning of the trial payments due to begin Dec 1. We do not have the doc's as of yet, still waiting (all this went down on Monday for us as far as the verbal and negotiator after many calls to Ms Drake and Mr Davis. It's been pretty smooth up until yesterday, but I got answer's from our negotiator and I feel a ton better. I'll keep you posted

[dana1215]

what is the interest rate during this "trial" period?

[heidi79]

Hey Moe,

I would be good to have a section for PERMANENT HAMP successes.

[caldwellb02]

Kymmer - Congratulations. Really great mod.It is SO good to hear good news! What a wonderful way to start my day, reading about your mod.

[townie271]

Way to go Congrad's on mod!!!!!!!!!!!!!!!!!!!!