Loan Modification denied

[Worried in Florida]

I am new to the Forum and I have been working on my Loan Mod with AHMSI since July. We were denied the first time and re-faxed and call every 3-4 days this past month. I cannot get a response yet. I am desperate as we are 4 mos delinquent and we just want to figure something out!

I appreciate the advice above and will try that tomorrow. Thank you.

[Moe Bedard]

Hi Worried in Florida,

Welcome to the forum and thank you for joining.............

Please keep us updated and ask any questions that you may have, here in your thread so that we can follow your story too.......

[Worried in Florida]

10-08-08 SPOKE TO MY NEGOIATOR AFTER 2MOS EFFORT!! YAHOO!! The Negotiator explains my options under my investors guidleines (Wells Fargo’s)for a Loan Modif. SHe said she will approve me to be sent over to WF for 1 of these 3 scenarios:

Scenario 1 Scenario 2 Scenario 3
Mod to1/2 Intro Rate Mod to 1% Fixd Principle Reduc
= 2.915% Fixed (Program pending) (only discussion) Payment higher than now Pmt still high WAITING

Must fax or email my proof of income – cannot be NEGATIVE. 2007 Tax returns okay. She will approve it and send it over to Wells Fargo for proposal outlined above.

QUESTION: What happens if I CANNOT accept the scenarios 1 or 2 because they will make my payment higher?

AT least I am making progress and got some answers! Will stay on it!

[Worried in Florida]

I am sorry - my 3 options didnt come out right in the email above -let me try that again - so others can see the Options presented.

Scenario 1: lower rate to 1/2 Original closing day rate. (FOr me, 2.915% - YEA!!)
Scenario 2: lower rate to flat 1%. Not approved to be offered yet, but coming soon.
Scenario 3: Principle Red or other Mod - she said they are looking a many plans now.

Scenario 1 & 2 - she thinks will INCREASE my current interest only payment - so she basically said that she did not think they would help me. She implied I should just wait and see what new plans come out! And explained that I am delinquent but not in Foreclosure paperwork . . so dont panic that something is happening soon. It wont. Hmm .. not sure if I can trust that.

I hope this helps others.

[Moe Bedard]

Worried,

That is great news! I am so glad that they are taking another look at modifying your loan.

Please post all updates and questions here in your own thread...........so that we can follow your AHMSI journey too.