AHMS lOAN Modify - Loan Modification Forum

charlener1 · 11-18-2008, 11:46 AM

After refinancing for the 3rd time to get our dream truck we bought into the dream we will just refi in 2 years..guess what I am in the same situation as most of America bad credit late mortgage and a house that is below its value recently asked for a loan modify from AHM to apply all back charges to loan amount and fix the ARM... I started the process on October 11, 2008 faxed in info and called HOPE(which all they provided was a fax to AHM no real help) and waited I was told to wait 14 days and someone would call me no one did I called back and was given the name of my negotiator I waited and called on Nov 3 and was told I had a new negotiator she reviewed the figures and told me we looked like good candidates.. On Nov 13 she called to say we had a surplus of income and we could not qualify I explained to her that was from overtime and selling vacation time to try to keep afloat and that was not reg salary.. she allowed us to submit new paystubs showing less income...I stumbled across this site and started to do exactly like you suggested I called and was told I needed to send in a repay amt of 3200.00 and they had never rcvd my updated fax and that my mod was denied...so I called the VP Jim Davis today and by 1 am the negotiator said the mod wasnt denied...she rcvd the stubs and would submit it today for review and I should wait 5-7 business days

charlener1 · 11-18-2008, 11:50 AM

Also this site is such a blessing thanks for all the info this is so stressful

Moe Bedard · 11-18-2008, 12:18 PM

Hi charlener1,

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

So happy you found us here! It sounds like you have already taken the right steps in contacting the right people and resubmitting the docs for a modification. You are in good hands..........

Good Luck!

Please keep us posted on your progress........

charlener1 · 11-18-2008, 01:40 PM

any suggestions as to what I can expect from this point

charlener1 · 11-18-2008, 04:20 PM

MY negotiator called today to say she apologized fot the confusion and felt so bad that she expedited the process and offered tody a reduction in rate from 8.00 to 5.00 fixed arrearage to be attached to loan and no mortgage payments until Feb 1st GOOD NEWS YYAYYAYA

mistermister · 11-18-2008, 05:40 PM

Quote:

Originally Posted by charlener1

MY negotiator called today to say she apologized fot the confusion and felt so bad that she expedited the process and offered tody a reduction in rate from 8.00 to 5.00 fixed arrearage to be attached to loan and no mortgage payments until Feb 1st GOOD NEWS YYAYYAYA

Wow...fast and great. Good for you...congrats

DAVetran · 11-18-2008, 08:08 PM

Way to go.........5.0......giddy up , giddy up.

elpjohnson · 11-18-2008, 10:16 PM

Wow!!!! That was fast! Jim Davis is a great guy! So happy he could help you out!

charlener1 · 11-19-2008, 05:57 AM

I love second chances and this website

Dan Bailey · 11-19-2008, 06:39 AM

Congrats charlener! Thats awesome!

Maia7 · 11-19-2008, 01:07 PM

charlener1 - congrats, that is great news! Is that rate fixed for the life of the loan or is this the five year fix they've been offering?

Maia

charlener1 · 11-19-2008, 10:05 PM

decreased from 8.10% to 5.00 1st year 5.25 2nd year 5.50 3rd year 6% for the life of loan

DAVetran · 11-20-2008, 09:29 AM

I would wait this out, make payments on time, and after the 2nd year i would ask for it to be frozen @ 5.25.

charlener1 · 11-21-2008, 09:44 AM

thnaks for that info I rcvd papers today I am celebrating today but i wont rest until I see my info changed on the system...

Itsticking · 11-21-2008, 11:10 AM

Congratulations! How much extra income did you show on your budget sheet, and did you use the tool they provide or did you use your own?

I'm getting ready to submit my loan modificaiton request.

charlener1 · 11-21-2008, 12:33 PM

about 200 and i sent in my own paperwork (w2,pay stub,hardship letter)and then HOPE hotline helped with the budget and sent that portion in with a recomendation of what I should be able to qualify for

Itsticking · 11-21-2008, 04:44 PM

Thanks for the info.; I keep coming up with showing too much income and need to find a way to show less.
I haven't contacted HOPE hotline, do you think that piece helped with getting your loan mod? Would you recommend that step?

elpjohnson · 11-21-2008, 05:22 PM

You probably use a little more gas and groceries than you're actually figuring.....

charlener1 · 11-21-2008, 06:25 PM

right I cant remember all the details but the hope rep def asked me for things I didnt think to include like oil change/repair/ and my food bill the negotiator said should be 550.00 at least for a family of 4

Monnie · 11-21-2008, 06:52 PM

Congratulations! We both can celebrate! I recieved my loan documents and returned them yesterday. Went from a rate of 9.125% to 4.75% for the life of the loan. I am so thankful to have found loansafe.org. Looks like AHMSI are really trying to help the homeowners. Congrats again!

charlener1 · 11-21-2008, 10:57 PM

i think so we were really blessed to be a sucess story and I in part thank loansafe and God and I am praying for all the other homeowners that they will have peace and resolution

11-18-2008, 11:46 AM	#1 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	AHMS lOAN Modify After refinancing for the 3rd time to get our dream truck we bought into the dream we will just refi in 2 years..guess what I am in the same situation as most of America bad credit late mortgage and a house that is below its value recently asked for a loan modify from AHM to apply all back charges to loan amount and fix the ARM... I started the process on October 11, 2008 faxed in info and called HOPE(which all they provided was a fax to AHM no real help) and waited I was told to wait 14 days and someone would call me no one did I called back and was given the name of my negotiator I waited and called on Nov 3 and was told I had a new negotiator she reviewed the figures and told me we looked like good candidates.. On Nov 13 she called to say we had a surplus of income and we could not qualify I explained to her that was from overtime and selling vacation time to try to keep afloat and that was not reg salary.. she allowed us to submit new paystubs showing less income...I stumbled across this site and started to do exactly like you suggested I called and was told I needed to send in a repay amt of 3200.00 and they had never rcvd my updated fax and that my mod was denied...so I called the VP Jim Davis today and by 1 am the negotiator said the mod wasnt denied...she rcvd the stubs and would submit it today for review and I should wait 5-7 business days

11-18-2008, 11:50 AM	#2 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Also this site is such a blessing thanks for all the info this is so stressful

11-18-2008, 12:18 PM	#3 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Hi charlener1, Welcome to the forum and thank you for joining............ So happy you found us here! It sounds like you have already taken the right steps in contacting the right people and resubmitting the docs for a modification. You are in good hands.......... Good Luck! Please keep us posted on your progress........ __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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.

11-18-2008, 01:40 PM	#4 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify any suggestions as to what I can expect from this point

11-18-2008, 04:20 PM	#5 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify MY negotiator called today to say she apologized fot the confusion and felt so bad that she expedited the process and offered tody a reduction in rate from 8.00 to 5.00 fixed arrearage to be attached to loan and no mortgage payments until Feb 1st GOOD NEWS YYAYYAYA

11-18-2008, 08:08 PM	#7 (permalink)
DAVetran Senior Member Join Date: Nov 2008 Posts: 50 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Way to go.........5.0......giddy up , giddy up.

11-18-2008, 10:16 PM	#8 (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: AHMS lOAN Modify Wow!!!! That was fast! Jim Davis is a great guy! So happy he could help you out! __________________ Erika 10 Month Success Story With Option One.

11-19-2008, 05:57 AM	#9 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify I love second chances and this website

11-19-2008, 06:39 AM	#10 (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: AHMS lOAN Modify Congrats charlener! Thats awesome! __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.

11-19-2008, 01:07 PM	#11 (permalink)
Maia7 Senior Member Join Date: Mar 2008 Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify charlener1 - congrats, that is great news! Is that rate fixed for the life of the loan or is this the five year fix they've been offering? Maia

11-19-2008, 10:05 PM	#12 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify decreased from 8.10% to 5.00 1st year 5.25 2nd year 5.50 3rd year 6% for the life of loan

11-20-2008, 09:29 AM	#13 (permalink)
DAVetran Senior Member Join Date: Nov 2008 Posts: 50 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify I would wait this out, make payments on time, and after the 2nd year i would ask for it to be frozen @ 5.25.

11-21-2008, 09:44 AM	#14 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify thnaks for that info I rcvd papers today I am celebrating today but i wont rest until I see my info changed on the system...

11-21-2008, 11:10 AM	#15 (permalink)
Itsticking Junior Member Join Date: Oct 2008 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Congratulations! How much extra income did you show on your budget sheet, and did you use the tool they provide or did you use your own? I'm getting ready to submit my loan modificaiton request.

11-21-2008, 12:33 PM	#16 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify about 200 and i sent in my own paperwork (w2,pay stub,hardship letter)and then HOPE hotline helped with the budget and sent that portion in with a recomendation of what I should be able to qualify for

11-21-2008, 04:44 PM	#17 (permalink)
Itsticking Junior Member Join Date: Oct 2008 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Thanks for the info.; I keep coming up with showing too much income and need to find a way to show less. I haven't contacted HOPE hotline, do you think that piece helped with getting your loan mod? Would you recommend that step?

11-21-2008, 05:22 PM	#18 (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: AHMS lOAN Modify You probably use a little more gas and groceries than you're actually figuring..... __________________ Erika 10 Month Success Story With Option One.

11-21-2008, 06:25 PM	#19 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify right I cant remember all the details but the hope rep def asked me for things I didnt think to include like oil change/repair/ and my food bill the negotiator said should be 550.00 at least for a family of 4

11-21-2008, 06:52 PM	#20 (permalink)
Monnie Member Join Date: Oct 2008 Posts: 28 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify Congratulations! We both can celebrate! I recieved my loan documents and returned them yesterday. Went from a rate of 9.125% to 4.75% for the life of the loan. I am so thankful to have found loansafe.org. Looks like AHMSI are really trying to help the homeowners. Congrats again!

11-21-2008, 10:57 PM	#21 (permalink)
charlener1 Member Join Date: Nov 2008 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: AHMS lOAN Modify i think so we were really blessed to be a sucess story and I in part thank loansafe and God and I am praying for all the other homeowners that they will have peace and resolution

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