| Trail Plan questions ***HAMP***
Hello, new here and I have some questions about the "Home Affordable" Plan now being offered American Home Mortgage Servicing Inc.
Before I ask my question I will give you alittle back ground. Our home we have owned for 14 years, and we ware not sup-prime borrowers, but since re-financing through at the time Option One, we have became sup-prime.
In 2005 my family and I decided that we would do some remodeling to our home, and ware financed with Wells Fargo. We received an offer through a broker for H&R Block, good name, and we ware not thinking, so we went with there offer. All was good until January 2007, when we ware late by 3 days on your payments. We received a call from Option One, and made the payment. At the time we asked about a refi plan since they informed us that our rate would adjust for the first time that coming October. They informed us that they did not do Rifi's anymore, but we could apply to have the loan modified. We did not think much of it until July of 07, and decided to send in the paper work. We waited and waited, called and followed up with them, of course they never received the paper work, and did not any information from us. Beginning in July of 07, OO started rejecting our payments telling us we ware late, So to Western Union I went. Still they would reject the payment...
Long story short by October we found our self in foreclosure, with a sale date. I called the foreclosure attorney and explained what has been happening, and they asked for me send all the papers that I had to them, and in the mean time sign this forbrance agreement and start a repayment plan. The forbrance agreement was for 11 months, and the payments went up from $1,800 month to over $2,600 per month, also all payments ware to be made through Western Union. So we signed, sent in $4,000 for the down payment, and made all the payments on time, but on the 8th month we received notice that they ware dis-missing the foreclosure and our loan was current, and even sent back over $900 in over payments we had made.
We thought great, Wells Fargo was our investor or Trustee on the paper work, we had been with Wells since we built the house, we will go back to them...Here's ware we got the big surprise, all of the payments we had made ware considered late, so on our credit report it showed 8 months of 30 days late. We owe $226k and last appraisal done July of 08 was at $330k...Maybe they wanted our home?
Now over than last year we have been trying to get the mod done, but like I have read here, we ware being told that our investor was not moding any loans at this time and to call back in 3 weeks. Finally this last July, we ware offered a new plan called Home Affordable, we qualified sent in all the papers, everything they asked for, they sent the package for us to sign what they call a trail plan, where if we make the new payment for 3 months, then our loan would modify. We sent the first payment on Oct. 1 2009, So here is my question, this last weekend we received another letter from AHMSI asking us to sign a forbrance agreement, and repayment plan at the new payment. They want us to sign it and mail back. I am saying what??
So what is this new plan, has anyone else received a forbrance agreement after the trail plan has started?
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What I meant to say was our negotiator has in her computer the mod approval recommendations for after the trail period. We have not seen them. What we have seen is the acceptance into the HAMP, which we signed and mailed back and they have our complete package as well as our first payment.
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