Help.... I received modification documents..

[Ljm9697]

I have been very fortunate and received loan modification documents from AHMSI. After two months of working with them and finally getting approved, I need to know if anyone else has been at this point.

Just a little background. I refinanced in December, 2004 with an ARM that started adjusting (upward) in 2006. For two years I have been upside down and no options. My interest rate is at 9.5 percent. I just got approved through AHMSI for a 4 percent loan and got the papers the other day. I feel like this is "too good to be true". I feel very lucky, but need to know if anyone else has gotten approved for a loan modification and everything was fine.

The question is, would the mortgage company (AHMSI) pull a fast one on me at this point. I did have a lawyer look at the papers briefly and his only question was that AHMSI was not referenced too many times in the documents. Loan Servicing was mentioned. I contacted the negotiator that I was working with at AHMSI and she assured me that AHMSI does not own the loan, the investor does so that is why loan servicing is mentioned so many times on the docs.

I don't know why I am feeling like this is "too good to be true" and signing the docs is a bad thing...

Can someone please let me know if they have been in my shoes and assure me that my current mortgage company (AHMSI) would not try to pull a "fast one" on me???

Thank you......

[elpjohnson]

Ljm9697.....

I have a successful modification and have made three payments and everything is fine....go ahead sign the docs and get them back so your mod can be finalized and you could put this behind you....

[Ljm9697]

Thank you very much for replying and congratulations to you on your modification. I signed the docs and sent them back overnight ups.

I just have one question for you...... I have to make my first payment that is due January 1, 2009 by western union or cashiers check.... When you made your first payment did you do it on the first or is it o.k. if they receive it that week sometime? I'm just curious because the first is a holiday and I don't want to screw up anything...

Thanks again....

[elpjohnson]

I would call them and see if you can get in in by that first week.....I had a payment already in suspense so they just applied that so I didn't have to go through the whole cashiers check thing. You should be okay but I would call your negotiator, see if they received your paperwork and see if you can get your payment in like by the 2nd or so. Enjoy the holidays and your home now that you have a loan mod in place!

[Ljm9697]

Thanks again for the information.. I will contact the person I have been dealing with at AHMSI to see if January 2nd will be sufficient..

Happy Holidays to you and your family!!!

[Txsbelle]

I'm in the same situation. My 1st payment after my mod is due on jan 1st. Will you please post what you find out? Thanks.

[Ljm9697]

Hi,

I e-mailed my negotiator and she said that January second was fine to make the payment, but that it should be done via Western Union money gram or cashiers check for the first payment.

I have a little issue that just happened today (saturday). I received a notice of default and it was date December 19th. It is just kind of odd because that is the day that my papers (modification) were received by AHMSI.
I just e-mailed my negotiator to see if these should be ignored, which I am assuming because it is telling me to pay to make my loan current.

I won't hear back until Monday from her, but I was wondering if anyone has received these documents prior to making their first payment with the new loan amount?

Thank you.....

[elpjohnson]

Ljm9697......

It was probably computer generated but I would definitely check in with the negotiator to make sure the loan mod is in place and be sure to make that first payment on the 2nd

[Ljm9697]

Hi Erika,

I'm not sure if you can help me, but I thought I would run this by you as well... When I go onto my account on-line at AHMSI, my account is not updated with the new modification information... Will this be updated once I make my first payment? I would think that the new information would have been entered when my modification papers were received at AHMSI...

Did it take awhile for you information to update?

Thank you....

[elpjohnson]

Ljm9697......

Good evening.....yes, it did take a while for my info to update online but my negotiator (Christopher Lindsey) was really on top of things and updated my account soon (I think within 3 to 4 weeks) after he received my mod papers. I would call your negotiator on Monday and ask them about the default notice you received and when your online account info will reflect the terms of your modification. Just be real sweet and you will get far with them because those negotiators are getting hammered daily......

Please keep me posted on what happens tomorrow......Good luck and God bless!

Happy New Year to you and your family!

[Txsbelle]

hi ljm9697...

Thx for the information. I have not received any default papers, but my modification information is not up to date on line either. I'll call my negotiater on Monday. Until then, have a Happy New Year!

[acesfull]

Hi LJM9697
Great job on your loan mod. Is it a 4% for the life of the loan? If so SWEET.
We just received our mod, we got 5.25% for 25 years fixed. down from 8.25% we saved $600.00 per month. When we received our Docs they stated that they will only accept money orders or cashiers checks for the first couple months, then they will accept personal check there after.
I wouldn't be to concerned about AHMSI pulling a fast one on you. Just enjoy your new home and your new found wealth.
Healthy and happy New Year to you and your Family.

Acesfull/ Loansafe success story.