need a mod with First Franklin

[miracle 4 us]

I have learned alot reading so many harrowing stories of trying to save our homes. I am currently waiting for a reply to a modification request with First Franklin. I took a bad mortgage in June of 2007 (high rate & due to adjust June 2009). I accepted the bad terms because I was still a couple months from being 2 years post-bankruptcy. I was eager to get settled before the school year started. I was told I could refinance in October to an FHA loan. When I contacted the broker in October there were many days before calls were returned and not much info available. I didn't know the mortgage world was coming apart. I waited until March 2008 and tried to get the FHA loan through a credit union. They sent the appraiser and appaarently the value was still OK, but instead of needing 3% I needed 5%. I did not have it. Almost immediately after, there were nothing but reports of declining RE values everywhere. My house is in a rural county in IL. I love my house and want to keep it. My current payment includes no escrow for ins or taxes. I am in a panic about what the rate adjustment will be. I contacted Loan Services and sent the modification package. They say 60 days to hear anything. I am afraid to hope for anything. I haven't seen much positive about First Franklin. Does anyone know if they are being more flexible with some of the more recent incentives?? Should I be doing anything else right now?

[MichelleLynn]

Have you heard anything?

[miracle 4 us]

Not yet. I have been calling twice a week to see if I have been assigned to anyone yet. I am just about at the 60 day point, but they don't know how many cases are still ahead of mine.

[Evan Bedard]

Hi miracle 4 us,


When you call do you ever ask to speak to a supervisor or manager? That is quite a while to still be waiting for someone to be assigned to your case..

[MichelleLynn]

When we first started with FF/HLS we started in July and were not assigned anyone until the end of October..
Try asking to talk to Gary Stockey

[eddiebaum]

I have not made a payment in 17 months. I like you took a high rate with the hopes of refi in 1 yr. Values dropped and I lost 57% of my income. It took 7 months for it to get to arbitration. They offered a 3% drop for 3 yrs and them back up and a balloon of 102K at the end of 32 yrs. House is only 115K now. I refused it and now I had to reapply and it is the same problems. They loose docs and I resend and then they need just one more thing that ws already sent. I applied again 3/13 and I still have not heard anything except we need this and that (which was sent 3/13) It is a carnival. So I took my mtg payments and paid off the credit cards. Works for me.