Declined for HAMP now AHMSI modification??

[lostnworried]

We just got word today that we were declined for the HAMP plan. They said that we did not meet the 31% income requirement. I am confused as the figures the negotiator mentioned included my husband's unemployment benefits. I thought that those will NOT be included as he loses his benefits in less than 6 months. It was included with our financial documents as I was told to declare ALL income. So, I am confused. The negotiator said that we may qualify for a different modification and indicated that she is submitting our file to a different person. Our mortgage payment for 1st loan is $1900 and 2nd is $800. Our income without my husband's unemployment benefits is $3855. I am really upset as it took me endless calls and emails to Jim Davis to even get someone to look at my file and now they tell me we are not approved. Has anyone ever qualified for a AHMSI loan modification after getting rejected for a HAMP? I thought it would be harder to qualify for the AHMSI program.....

[Russ1875]

I am in the same situation as you. Same pay as well, at first when i was declined they said it had something to do with my income, and that they will look at a traditional Modification. When I questioned the income they said Oh because you are not living in the property. Since Aug 09 this have been going on I have been waiting on the traditional modification. They keep saying its being reviewed. So now I am contemplating a) move back into the house and B) working with NACA. Still doing some research but I have not found out to much good news about NACA but i am still looking. Hopefully we both with get some answers. Are you living in the house?

[annat]

i was denied for HAMP and put by AHMS trial plan,my first payment sent allready.My original loan is arm,so my payment couldnt reduce much and it's still about 40% of income include tax and ins,but i'll take it.NACA couldnt help me in the reason that i have more that one house,even i live in this house.Good luck

[Hank123]

Originally Posted by lostnworried

We just got word today that we were declined for the HAMP plan. They said that we did not meet the 31% income requirement. I am confused as the figures the negotiator mentioned included my husband's unemployment benefits. I thought that those will NOT be included as he loses his benefits in less than 6 months. It was included with our financial documents as I was told to declare ALL income. So, I am confused. The negotiator said that we may qualify for a different modification and indicated that she is submitting our file to a different person. Our mortgage payment for 1st loan is $1900 and 2nd is $800. Our income without my husband's unemployment benefits is $3855. I am really upset as it took me endless calls and emails to Jim Davis to even get someone to look at my file and now they tell me we are not approved. Has anyone ever qualified for a AHMSI loan modification after getting rejected for a HAMP? I thought it would be harder to qualify for the AHMSI program.....

We were turned down for a HAMP modification (we were paying just under 31% of our gross household income) and approved for a traditional AHMSI mod within 2 weeks. Your negotiator should have submitted for the traditional mod after you were turned down under HAMP.

[3BOYS]

HI, HOW WAS YOUR AHMSI MODIFICATION AND WHO IS YOUR NEGOTIATOR?? IWAS DECLINED FOR HAMP TOO BUT NO WORD ON THE AHMSI MODIFICATION IAM SO WORRY MY LOAN IS IN FORECLOSURE I DONT WHAT TO LOSE MY HOM E ....PLS HELP

[Hank123]

Originally Posted by 3BOYS

HI, HOW WAS YOUR AHMSI MODIFICATION AND WHO IS YOUR NEGOTIATOR?? IWAS DECLINED FOR HAMP TOO BUT NO WORD ON THE AHMSI MODIFICATION IAM SO WORRY MY LOAN IS IN FORECLOSURE I DONT WHAT TO LOSE MY HOM E ....PLS HELP

Do you have your negotiator's phone number / extension number? You should give him/her a call and ask who your file is being forwarded to.

Also, whenever we couldn't get through to the negotiator, we'd call Jeannie Drake's office to get a message through to her. The most important thing you can do is stay on top of all of this. You can't let the office stay out of communication with you. If you need to, call every day until they get back to you.

Our negotiator covered everything for us, but because they're so swamped right now, it could be difficult to get through.

[lostnworried]

I was recently told that I can't qualify for a traditional modification with AHMSI after being declined for HAMP. This is because my investors are not allowing any modifications of any kind. I was afraid of foreclosure so I sent a long email to Jeanne Drake and she got my file assigned to an assistant. He helped put me on a Repayment plan for the next 6 months that reduced my payments by $1300! He said this is just a temporary solution while they try and negotiate with the investors to allow modifications again. I am grateful even though this is a temporary solution as this means I get to stay in my home while we try for a permanent solution. Good Luck to everyone.

[3BOYS]

HI, THEY TOLD YOU AT THE SAME TIME THAT YOUR INVESTOR DOS NO MODIFICATION OF ANY KIND OR YOU GOT DICLINE FOR THE HUMP FIRST... AND THEN THE TOLD YOU THE INVESTOR DOS NO MODIFICATIN AT ALL??

THAN YOU! FOR HELPING

[lostnworried]

3Boys, my negotiator told my husband at first that we did not meet the 31% income requirement for the HAMP modification and so was declined. They included my husband's unemployment benefits even though it runs out in March 2010. She then said that she would be passing the file to a different negotiator as we probably qualified for a traditional modification instead. However, when I called her to review, she stated that she found out that our investors are not participating in any type of modification at this time. When I asked her why AHMSI sent me the HAMP paperwork if modification was not an option, she stated that she did not know why but there is nothing I can do to get the loan modified. She stated that I should keep making the payments even if they were late as long as we were not 4 months behind, AHMSI will not foreclose. I was very frustrated at that point because the whole issue was lowering our payments since we obviously cannot afford the current payments. I then sent a long email to Jeanne Drake and Jim Davis asking for help. A week passed and I got no response. Then I got an email from Jeanne stating she just read my email and was assigning it to an assistant. Her assistant called me within 72 hours. He stated that there is nothing AHMSI can do to modify the actual terms of the loan but they are negotiating with the investors for more modifications. Meantime, he set me up on a 6 month repayment plan which reduced my payments by $1300! Even though this is just a temporary solution, I am happy for now as it allows us to remain in our home without the threat of foreclosure and allow us time to work on eventually getting the modification.