modification for the second time - Loan Modification Forum

victor · 11-10-2008, 12:34 AM

Hi to all, if anyone knows if i can again apply for modification for the 2nd time. I got my loan freeze for 5yrs last March 2008 and now we cant really afford the payment. Never missed or late on my payments but I might not be able to pay my December payment . Also is there anyway my lender(AHMSI) can help me pay my property tax for now because money is to tight on our budget??? Thanks in advance, Victor

Dan Bailey · 11-10-2008, 05:03 AM

Victor,
Thank you for posting and joining the forum. Welcome!
If you are finding yourself in a bad position again after your first loan freeze, it cannot hurt to ask and apply again . I take it your tax/insurance is not rolled into your monthly payments in escrow?
*** or Moe will be by as soon as they can to give you some advice/direction, Hang in there!

Maia7 · 11-10-2008, 10:25 AM

Hi Victor, welcome!

I was in your EXACT position with AHSMI. I received a rate freeze in July. Then, I lost my job and fell behind. I needed another modification once I was able to find another job.

I called AHMSI FOUR TIMES and was told "we do not modify loans more than once in 12 months."

I then phoned Jeanne Drake, VP at AMSHI and left her a voicemail stating I was told by their phone reps they could not modify the loan twice in 12 months. She immediately called me back, apologized and told me I was given incorrect information by their phone reps.

So, upshot here is you need to fax your hardship letter, budget worksheet (which can be found at OOMC.com), two recent paystubs, bank statements for two months, and last year's tax return to Jeanne Drake's office that *** has posted at:

Jeanne Drake-VP Home Preservation Dept.
Direct: 1-949-784-6011
Fax: 1-866-642-4196

Then, follow up to her with a voicemail.

I received a mod that fit in my budget which includes taxes and insurance. The interest rate was also fixed on both my 1st and 2nd loan.

Maia

elpjohnson · 11-11-2008, 04:20 PM

Victor....

Welcome and thanks so much for joining....you can definitely ask for another modification...a permanent one this time. Follow Maia's advice and contact Jeanne Drake's office but also contact

Jim Davis- Phone-904-996-9696
Fax-904-996-9653

It doesn't hurt to try. Be kind but persistent and do not give up!

victor · 12-04-2008, 01:59 AM

HI! Thank You Loansafe and Everyone, i got my loan modified again. I faxed my hardship letter and documents to Jeanne Drake and the next day i received a call from Jacqueline of AMHSI. She took some more information and last week received a good news from her that my loan was modified into a fixed rate for 30yrs.
1st loan 7.75% to 6%
2nd loan 10.8 to 5 %
It only took less than 2 weeks to get my loan modified(WOW). Again,Thank You Loansafe and Everyone for the supports and also to JAcqueline from AMHSI

elpjohnson · 12-04-2008, 08:20 AM

Wow!! Congratulations! That's great news! Enjoy the holidays with your family.

Maia7 · 12-04-2008, 08:50 AM

Awesome Victor. Congrats!

Maia

11-10-2008, 12:34 AM	#1 (permalink)
victor Junior Member Join Date: Oct 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	modification for the second time Hi to all, if anyone knows if i can again apply for modification for the 2nd time. I got my loan freeze for 5yrs last March 2008 and now we cant really afford the payment. Never missed or late on my payments but I might not be able to pay my December payment . Also is there anyway my lender(AHMSI) can help me pay my property tax for now because money is to tight on our budget??? Thanks in advance, Victor

11-10-2008, 05:03 AM	#2 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time Victor, Thank you for posting and joining the forum. Welcome! If you are finding yourself in a bad position again after your first loan freeze, it cannot hurt to ask and apply again . I take it your tax/insurance is not rolled into your monthly payments in escrow? * or Moe will be by as soon as they can to give you some advice/direction, Hang in there! __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.**

11-10-2008, 10:25 AM	#3 (permalink)
Maia7 Senior Member Join Date: Mar 2008 Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time Hi Victor, welcome! I was in your EXACT position with AHSMI. I received a rate freeze in July. Then, I lost my job and fell behind. I needed another modification once I was able to find another job. I called AHMSI FOUR TIMES and was told "we do not modify loans more than once in 12 months." I then phoned Jeanne Drake, VP at AMSHI and left her a voicemail stating I was told by their phone reps they could not modify the loan twice in 12 months. She immediately called me back, apologized and told me I was given incorrect information by their phone reps. So, upshot here is you need to fax your hardship letter, budget worksheet (which can be found at OOMC.com), two recent paystubs, bank statements for two months, and last year's tax return to Jeanne Drake's office that *** has posted at: Jeanne Drake-VP Home Preservation Dept. Direct: 1-949-784-6011 Fax: 1-866-642-4196 Then, follow up to her with a voicemail. I received a mod that fit in my budget which includes taxes and insurance. The interest rate was also fixed on both my 1st and 2nd loan. Maia

11-11-2008, 04:20 PM	#4 (permalink)
elpjohnson Successful Homeowner / Loan Safe Guide Join Date: Dec 2007 Location: Gold Country, Northern California Posts: 1,025 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time Victor.... Welcome and thanks so much for joining....you can definitely ask for another modification...a permanent one this time. Follow Maia's advice and contact Jeanne Drake's office but also contact Jim Davis- Phone-904-996-9696 Fax-904-996-9653 It doesn't hurt to try. Be kind but persistent and do not give up! __________________ Erika 10 Month Success Story With Option One.

12-04-2008, 01:59 AM	#5 (permalink)
victor Junior Member Join Date: Oct 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time HI! Thank You Loansafe and Everyone, i got my loan modified again. I faxed my hardship letter and documents to Jeanne Drake and the next day i received a call from Jacqueline of AMHSI. She took some more information and last week received a good news from her that my loan was modified into a fixed rate for 30yrs. 1st loan 7.75% to 6% 2nd loan 10.8 to 5 % It only took less than 2 weeks to get my loan modified(WOW). Again,Thank You Loansafe and Everyone for the supports and also to JAcqueline from AMHSI

12-04-2008, 08:20 AM	#6 (permalink)
elpjohnson Successful Homeowner / Loan Safe Guide Join Date: Dec 2007 Location: Gold Country, Northern California Posts: 1,025 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time Wow!! Congratulations! That's great news! Enjoy the holidays with your family. __________________ Erika 10 Month Success Story With Option One.

12-04-2008, 08:50 AM	#7 (permalink)
Maia7 Senior Member Join Date: Mar 2008 Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: modification for the second time Awesome Victor. Congrats! Maia

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