I want to save my home not loose it.

[keepmyhomesafe]

Hi I hope that I can overcome this dilema that is over my head. I am tired of sleepnees nights and worrieness, I am having trouble with my lender I fell one month behind and my lender stated that everything will be work out thru a modfication. I sent out all my financial paper work 3 times I call every week to find out the status and all i got was the same response due to the overwhelm of modifications you just have to wait. Well, I have been waiting for months and now I get a letter that I have been denied my modification because an investor wont take it. Makes no sense at all!! I receive a letter from an attorney that my home is now in pre forclosure. None of this is making sense to me I feel scam by this mortgage company (wells Fargo).
I owe very little on my home and I feel like they just want to take my home to sell it off. As long as i can get help to get this all straighten out they will not take my home from me or my kids. I work to hard to have a home and because there not willing help I need help from someone. Thank you for hearing my story.

[Moe Bedard]

Hi Keepmyhomesafe,
Welcome to the forum and thank you for joining us......
I need a little bit more information so I can see what you are dealing with here in you story please....
You said you owe very little on the house.......how much?
What is your current interest rate, and is it scheduled to adjust soon?
Fixed rate or arm?
What type of loan do you have?
What state are you in?
Do you know why you were turned down for the modification.......ie: did your debt exceed your income or something like that?
What date did you start the modification on?
Thank you,

[keepmyhomesafe]

I have a 8% interest rate, I owe 136000 on my home and the value is more than $500,000 appraised 3 years ago. I live in chicago, IL. in the Wicker park area which is really big in the market here. I was deny due to an investor is all they wrote to me. It's back in the modification review now and they re did my income. I think they had the wrong income and that was showing that I made less then my mortgage payment. I have not refine my home to make a s long story short my husband passed 8 years ago we were not legally married but we were together for 13 years so the property is in c/o of myself and my children hold title in which they are minors so they cant do much however I have to look at his loan papers to see if it a adjusted rate or arm. I know that within the time I have been caring for this property my payments have exceeded close to $1000 in the last years every year my payments go up $200 more. I hope I answer all questions. The new mod was sent Feb 5th 2008

Thanks.

First thing you need to determine if it is an ARM loan seems that it might be or the increase is due to taxes. The way that you can tell that it is an ARM loan is to get the closing papers out and find out of the Note has an Adjustable Rate Rider that was signed.

Wells Fargo is very hard to deal with and what's more is that if this is a Fixed Rate loan they may not be able to modify as it is an Agency loan and they do not often modify the loan rates or terms.

Please check you loan documents and let me know also how is your credit and are you behind on any payments now, or in the last 12 months.

How are property values in your area? Are they stable or declining?

[keepmyhomesafe]

Its stable and still moving. My credit is not all that great!! I trying to modify the loan, I am behind now!! I know wells fargo is really hard to deal with.
Can somone assist me in this modification and get it done for me is my questions I am in need of desperate help.


Thanks

We have a modification service in the forum see the banner, other than that the third party services that I have experienced are pretty much take your money and run kind of people.

Your situation is not unique and you can do it yourself, however you must treat it as a second job almost to get there. You really need to go look at the documents and figure out if this is an ARM, I can not go any further than that without knowing the pertinent data.

[keepmyhomesafe]

On my home to look at the loan papers I will get back to yo as soon as tomorrow.

Thanks for your quick response.

Good because I have some ideas to help you and I hope that I can, sorry I had to ban the member in the post above for advertising his services, this is not allowed here. We want to keep you safe from people that are out to make money off of your problems. There is so much that you can do for yourself and not be vulnerable to the rotten people of the world, seem to be a lot of them out there these days....

[keepmyhomesafe]

Thank you for your response.

I am doing all that i can do I do have some money should I send it to them even if my house is now with their attorney wells fargo? What should I do?

Thanks

[Kitty2cat]

How do you start a new thread?

[Kitty2cat]

Never mind good luck

KittyKat - it is the main page of the forum that you wish to post on upper left hand side of the column New Thread Clicky thing....do not go away, post away.

Keepmyhomesafe...did you get the data that I requested, value of the home today and loan amount that you presently have? Is this an ARM loan? There maybe if this is an ARM loan and you only became delinquent after the ARM adjusted a way if there is the value and the loan amount affords a 3% equity position for you to refinance into a fixed rate 30 year product with FHA...

Please let me know. If the loan is with the Attorney's at this point some money is not going to be accepted, they will want the whole thing or negotiate a portion of it. If you just send it the money will be returned.

Please could you get back to me with more details so that I can assist.