Any Hope???

[mtbjoe]

Hi everyone,

Thanks for all the great info that's helped me perpare to send off my loan modification information tomorrow morning but after a last call to Wells Fargo a while ago to ask one final question they told me for the first time they were only the servicer.

They owned it originally so they must have sold it along the way and I didn't read a letter they sent I guess, my bad there.

They won't tell me who actually has primary loan and I haven't found it at Fannie or Freddie online so here's my main concern.

Besides my primary I have 2 equity lines through Wells Fargo. Together they equal about 40% of my gross but if they're not all with the same lendor will they be viewed separately? I could pay just my primary OR my 2 equity lines fairly easily but combined along with a couple other hardships I'm probably not going to make it...

From what I've been reading lendors only care about they're own part and the bottom line so this new bit of info (I should have known about) sounds like really bad news for us.

Either way I'm still going to try but was just wondering if anyone had any info or thoughts on this.

Thanks again,
Joe

[SillyWorld]

Welcome to the Forum....

If they say they are only servicer...??? Is this loan an FHA loan..???
If FHA you can streamline the loan.
If they just sold to a non FHA investor but Wells owens 2 other leins on property, File with NACA.com they may be able to help...

[mtbjoe]

Thanks Silly!

At this point I'm not even sure. I refinanced about 5 years ago online and Wells Fargo ended up with it. I had to refi again with Wells Fargo about 2 years ago when afte my wife lost her job and it was still with WF. Now I don't know who has the primary and I'm not sure where to start looking other than my files.

Wells Fargo has even called me for the information and told me I'm being considered for the HAMP modification so I'm going to go ahead with that for now and start trying to sort this out.

Is there an easy way to track this down?

[SillyWorld]

If wells is just your servicer than you are an FHA loan, and FHA cannot qualify for MOD untill AUG 15/2009 unless it is Fanny Mae or freddy Mac, NACA can expidite all this needed info, if you have a monthly escrow then most likly you are FHA loan..

[mtbjoe]

Thanks again!

Well Freddie Mac's self service is back up and it looks like they DO own my mortgage so at least there's one mystery solved.

Now I want to find out if that's good, bad or irrelevant to my situation.

My wife faxed over all our info this morning to WF, hardship letter, financial worksheet, mortgage specific documents and a few other pages I hope may help my case so I'll give them a call on Thursday to make sure they have everything they need.

I'll provide an update once I have some info.

[SillyWorld]

Originally Posted by mtbjoe

Thanks again!

Well Freddie Mac's self service is back up and it looks like they DO own my mortgage so at least there's one mystery solved.

Now I want to find out if that's good, bad or irrelevant to my situation.

My wife faxed over all our info this morning to WF, hardship letter, financial worksheet, mortgage specific documents and a few other pages I hope may help my case so I'll give them a call on Thursday to make sure they have everything they need.

I'll provide an update once I have some info.

Yes may be good if you read around those loans been getting 2% for the life of the loan, and if they need they can take per say 20 to 40,000.00 add to the back of the loan Interest free, to be paid when home is sold refin, or paid off

[mtbjoe]

Thanks to this site especially + some others I was pretty well informed on what was going on and what I needed to do. That was until I just found out WF doesn't own the primary loan (the old $417,00 jumbo max) anymore.

I have no idea if it even makes a difference but like most of us going though this the stress level alone is becoming dangerous and I could really do without any more surprises right now.

Hopefully Freddie Mac will take the big picture into account when reviewing my case and realize their loan is in as much jeopardy (more actually) that the others.

I'll start bugging them tomorrow and post any updates as well as any info I find out that could help others on this site.

At least it sounds like there may still be some hope.

Wish me luck!

Joe

[SillyWorld]

Good Luck!