Traditional Loan Mod Approved - Loan Modification Forum

ljm117 · 10-20-2009, 12:07 PM

We are in Chap 13 Bankruptcy and received a notice of default in September. I have been trying to get a mod for months (we do not qualify for HAMP). Anyway, after finally getting the consent for AHMSI to contact us from our attorney, we were approved for a loan mod. My paperwork was sent in around Oct. 7 and mod was approved on the 12th!!! We went from a 10.99% rate to 6.56% fixed for life of loan. Payments dropped over $300. Still waiting on approval from trustee first. New payments begin Jan. 1. We are so excited and thankful to our negotiator Maria Joseph. We haven't received paperwork, but will keep you posted.

Evan Bedard · 10-20-2009, 12:12 PM

Hi ljm117 welcome and thank you for joining.

Congratulations on the modification!!

we're_still_reviewing · 10-20-2009, 01:44 PM

Congratulations to you. I'm glad you were able to receive a modification you are happy with .

Best of Luck to you in the future.

dtap57 · 10-20-2009, 01:51 PM

ljm117, how long had you been in Chapter 13 when you got your loan mod? Im going to file chapter 13 here shortly and want to try for a loan mod after i file. Also where you behind on your house payments when you filed? or you making back payments through chapter 13 or is the mortgage company putting what you are behind to the end of the loan? Any info is appreciated.

ljm117 · 10-20-2009, 04:42 PM

We should be out of bankruptcy in Feb or March. I started trying for a loan mod in the spring. Unfortunately for us, we did not have the consent form for AHMSI to talk to us. I received a post on here that we need it. When I called AHMSI I was told the mod was in progress. Negotiatior changed everytime. We were four months behind on our mortgage. Received default about Sept. 23 and called and got the ball rolling. Basically our mod process took about 2 1/2 weeks. Not sure why so short. They had everything, we had to update our bank statements and paystubs. I hope this info helps.

dtap57 · 10-20-2009, 05:47 PM

When did you actually file for Chapter 13? Thanks

ljm117 · 10-20-2009, 07:03 PM

Quote:

Originally Posted by dtap57

When did you actually file for Chapter 13? Thanks

We filed in January of 2005. We paid our mortgage outside the plan. We were about a month behind on our mortgage at the time. During the bankruptcy we fell behind again. We put the arrearages into the bankruptcy.Citi did a loan mod :-( that upped our interest and our note. They paid off the arrearages and put it at the end of the loan. Then sold our note to AHMSI. I don't know what to tell you about whether you file or not. You have to do what is best for you and your family. Good luck to you.

dtap57 · 10-20-2009, 08:00 PM

I assumed you had filed recently. Thanks for the info.

wonthefight · 10-21-2009, 05:23 PM

Congratulations!! What a good feeling when this is accomplished...So nice to know that you can breathe a sigh of relief because you saved you home.

10-20-2009, 12:07 PM	#1 (permalink)
ljm117 Member Join Date: May 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Traditional Loan Mod Approved We are in Chap 13 Bankruptcy and received a notice of default in September. I have been trying to get a mod for months (we do not qualify for HAMP). Anyway, after finally getting the consent for AHMSI to contact us from our attorney, we were approved for a loan mod. My paperwork was sent in around Oct. 7 and mod was approved on the 12th!!! We went from a 10.99% rate to 6.56% fixed for life of loan. Payments dropped over $300. Still waiting on approval from trustee first. New payments begin Jan. 1. We are so excited and thankful to our negotiator Maria Joseph. We haven't received paperwork, but will keep you posted.

10-20-2009, 12:12 PM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved Hi ljm117 welcome and thank you for joining. Congratulations on the modification!! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

10-20-2009, 01:44 PM	#3 (permalink)
we're_still_reviewing Senior Member Join Date: Sep 2009 Posts: 132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved Congratulations to you. I'm glad you were able to receive a modification you are happy with . Best of Luck to you in the future.

10-20-2009, 01:51 PM	#4 (permalink)
dtap57 Senior Member Join Date: Jul 2009 Posts: 112 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved ljm117, how long had you been in Chapter 13 when you got your loan mod? Im going to file chapter 13 here shortly and want to try for a loan mod after i file. Also where you behind on your house payments when you filed? or you making back payments through chapter 13 or is the mortgage company putting what you are behind to the end of the loan? Any info is appreciated. Last edited by dtap57; 10-20-2009 at 01:55 PM.. Reason: added something new

10-20-2009, 04:42 PM	#5 (permalink)
ljm117 Member Join Date: May 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved We should be out of bankruptcy in Feb or March. I started trying for a loan mod in the spring. Unfortunately for us, we did not have the consent form for AHMSI to talk to us. I received a post on here that we need it. When I called AHMSI I was told the mod was in progress. Negotiatior changed everytime. We were four months behind on our mortgage. Received default about Sept. 23 and called and got the ball rolling. Basically our mod process took about 2 1/2 weeks. Not sure why so short. They had everything, we had to update our bank statements and paystubs. I hope this info helps.

10-20-2009, 05:47 PM	#6 (permalink)
dtap57 Senior Member Join Date: Jul 2009 Posts: 112 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved When did you actually file for Chapter 13? Thanks

10-20-2009, 08:00 PM	#8 (permalink)
dtap57 Senior Member Join Date: Jul 2009 Posts: 112 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved I assumed you had filed recently. Thanks for the info.

10-21-2009, 05:23 PM	#9 (permalink)
wonthefight Senior Member Join Date: Jul 2009 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Traditional Loan Mod Approved Congratulations!! What a good feeling when this is accomplished...So nice to know that you can breathe a sigh of relief because you saved you home.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode