Old 08-04-2009, 08:14 PM   #1 (permalink)
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Why does SunTrust fly under radar, still not participation in HAMP?

I read that they are the largest servicer not participating. Although they have to modify fannie/freddie loans. They took billions. Why no news stories?

You have to stay on them, and check out the reason you get a denial. If you have a SunTrust denial question post it.


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Old 08-04-2009, 08:31 PM   #2 (permalink)
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Re: Why does SunTrust fly under radar, still not participation in HAMP?

Quote:
I read that they are the largest servicer not participating. Although they have to modify fannie/freddie loans. They took billions. Why no news stories?

You have to stay on them, and check out the reason you get a denial. If you have a SunTrust denial question post it.
Thank you Murray12 yes it is crucial to always find out the reason why your modification was turned down...
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Old 08-04-2009, 08:43 PM   #3 (permalink)
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Re: Why does SunTrust fly under radar, still not participation in HAMP?

I was told today that I don't qualify because my rental income (have a 3 family and live in one) shows a loss. First of all the HAMP program says that gross income is used.

Secondly this is the most asinine thing ever. The reason I show a loss is because of mortgage interest!!!!!!!!!!!!!! If the loan was modified the interest would be reduced. Also included is taxes and depreciation. Really it is so stupid.

And this was not told to me by a low level employee. This person is very high up. Come on SunTrust spare me, at least come up with something better.

I am so close to issuing press releases. I used to do some web publishing, and my posting here and my blog would be just the beginning!
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