Anyone offered a MOD after being turned down??

[Bucklest]

Just curious if i'm the only one in this boat.

My lender is Chase, and i was turned down for a loan mod July 2007. They said i wasn't going through a hardship in their opinion.

Now my rep says that she will try again. But she says it STILL looks like we will NOT be approved.

My rate has re-set once more since the last mod request and will re-set again in July 2008 (if we are still in the house).

I wonder if they will look at my application "fresh" or see it and say "oh no, not again".

Hey there, have to move the thread to Tell your Story....we need to keep this for success stories.....

Why are they telling you that it will not be approved? They have to have given you some specifics....

"My problem is, i have an auction date of April 9th. My rep tells me that it is "on hold" as long as this process is going on. If approved, the auction date will continue to be "on hold". BUT.... if i'm NOT approved, the date will once again be in force. No grace period, no nothing! (yikes!)

I have chewed my fingernails to the bone. She told me to check with her every two weeks!! Very nice lady, by the way. Is there anything else that i could/should be doing to save my home while i wait? I don't know if they will approve me!!"

Please if there is something that they told you in the body of your conversations with them, let me know. You are back in the process, are your reading more into this than you need to?

[Moe Bedard]

Times have changed from July. Big time. They are rushing to help people now. So, I would re-aply and get the ball rolling again. If you deserve a loan modification, Chase will give it to you.

[Bucklest]

Thanks Moe and Poppy.

Poppy, i posted there because I figured the information i was fishing for would be considered a success story! Oh well.

I believe things have changed since july, and i don't know what they are looking at to tell me (even today) that we will "probably" not qualify. Yesterday she asked me to estimate (in my mind) what i thought our "gross" income was, and then she asked me what my car payment was (that's ALL she asked). Then she put me on hold for a long time. She came back and apologized for keeping me for so long, and that's when she informed me that it appears that i will not qualify.

I will jump through any hoop they ask me to!

Call back and ascertain what the information was that determined that you would not qualify, you do have a right to ascertain what the reason was...so that you can identify and isolate the problem and address it with documentation. The people doing this often are not real qualified in the front end of taking the information and rely on poor data integrity by not relating the data properly....Was this conversation before or after the faxed data..????

[Bucklest]

Conversation was yesterday, before the faxed data.

I had some really weird dreams about my house last night, too!

Good before the fax conversation and they are moving forward with it now that they have the fax....

Dreams...I do not remember mine, a blessing as the few times I do, not real pleasant.....

Just stay positive, no negative energy allowed.

[Bucklest]

Slowly.... In through the nose, out through the mouth.....

got it

Find the center and stay focused....