SUCCESS???? WF Finished Trial -IN HURRY UP AND WAIT MODE

[Liz Medrano]

Has anyone finished the three trial HAMP payments with Wells Fargo and been approved for the final mod with HAMP? We have finished our trial payments, 6/1, 7/1, & 8/1, but have not received the final docs. Are we approved or can they still deny us? How long should this take? I call WF everyday and they tell us it is processing....whatever that means.

[bccorona]

I'm about to start my 3 month trial period this month. I worry, like yourself if after the 3 months they choose to not modify. Hopefully someone can share their experience.

BTW- How did Wells report to the credit bureaus while you were making your trial payments? I'm concerned about that since I've heard they may not report it as "paid as agreed". I've never been late on my mortgage and I'm hoping that this new trial payment doesn't give them an excuse tp ding my credit.

[Liz Medrano]

To be honest with you, I don't know how they reported to the credit bureaus; we filed bankruptcy and recieved our discharge at the beginning of this year. We had not paid our mortgage, since I lost my job, for about a year.

[Liz Medrano]

I wish you the best; the only thing I can recommend is to call the bank weekly, if not daily, for an update.

[Liz Medrano]

We spoke to WF again yesterday.....and now they tell us they sent a letter telling us it will be another 45-60 days before they make a decision. Oh and yes they want another payment; this will be the 4th trial pymnt. I don't believe these people - we are getting the run around.

I haven't seen anyone on this website or anywhere that has gotten a final HAMP mod after completing the trials.....what does that say????

[Liz Medrano]

We are definitely getting the run around from Wells Fargo. I e-mailed the list of executives with a list of specific questions. They have not responded. They lost our updated check stubs-but first said they had them...what a total mess. I am about to throw the towel in. They told us to make a fourth trial payment. I don't want to; my husband does.

[bccorona]

Don't give up the fight. Definitely make the next payment. These banks are so overwhelmed, they have no idea what to do and are just buying themselves time. At lease they are asking you to make the same payment instead of your old payment. If you don't make the next payment, this gives them an excuse not to modify your loan.

[Liz Medrano]

Thank you..I am going to make the next payment. Also today on another website someone stated that Wells Fargo updated their systems and was now ready to approve phase two of HAMP loans. He also said that they were doing training for this today. That is where I am...at phase two

[bccorona]

Great!. Could you post the link to the other site? Also, are they requiring you to send send in your financials all over again?

[Liz Medrano]

Here is the link...just go to the bottom of the page and you will see the comment made today.
Making Home Affordable Plan Expected to Help 4-5 Million Homeowners Refinance | Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News

[Liz Medrano]

The only thing that they requested were check stubs for the last two pay periods.

[koolkat]

Liz is that all they requested from the beganing? Did they request tax transcrips

[Liz Medrano]

koolkat,

At the beginning of our process we sent in a complete package with taxes, check stubs, bank statements, Signed IRS release, hardship letter, and the signed trial offer.

Now that we have finished our trial they (WF) requested new check stubs. I am sure that is to make sure our income hasn't changed.

[sagers]

I am done with my trial period payments on 9/1, however haven't received anything except a letter saying I am now in default and another one saying I will receive an acceleration letter on 10/15 if I don't pay the total due now. I called and they said to make a 4th trial payment on 10/1....but other than that they have no idea when I will receive anything from them letting me know if the final mod is accepted. Has anyone received a final mod yet? I'm freaking out with these default letters.............

[Riley18]

Originally Posted by Liz Medrano

Here is the link...just go to the bottom of the page and you will see the comment made today.
Making Home Affordable Plan Expected to Help 4-5 Million Homeowners Refinance | Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News

Hi,
Thanks for the Zillow Blog site. I made a comment and also mentioned this site.

Something needs to be done at the regulatory level because unless the banks are forced to modify the loans they never will. I do not know why Freddie Mac cannot be the agency that makes the modification decisions instead of the banks. Why is the government allowing the fox to guard the henhouse. Unless the government is only doing the HAMP for show with no real intention of helping American families.