Trying to keep home of twenty-four years

[White Pines]

We've lived in the same home for twenty-four years. To keep from losing our home due to illness my husband filed Chapter 13 in October 2001. I had breast cancer and he had a severe heart attack. We lost income and savings because neither of us could work, and then got behind on our bills. We busted our butts and managed to pay the five year Chapter 13 off early November 2004. We went through H*ll with the Chapter 13 dealing with bad lawyers, trustees, creditors and the like. We didn't have money for bills, food, and medical care I needed not covered by our insurance. We have since cleaned up our credit (on our own) and have scores between 650 and 700. In the meantime my husband had a second heart attack and was put on disability. His income is now limited to $2500 per month. It was $5000 per month. Our expenses exceed this amount to the point we can't cover our mortgage. We've been living on savings while I work on building up an online business. I looked for a decent job for two years and honestly couldn't find a job I could afford. By the time I paid for gas, clothing, and another vehicle I wouldn't have made an income. That's why I decided to work at home using my thirty years of computer and administrative experience. My web site is almost complete, and is already up and running. I've also been offered a job by the company that built my site. This entails my getting up to speed on the programming languages they use, which will take me a few months. We contacted both of our mortgage companies asking for a temporary loan modification. Both companies sent the loan modification packages which were completed and returned within a few days. Our second mortgage is through GMAC underwritten by Wells Fargo. They won't even talk to us unless we're behind. I thought the whole idea was not to get behind. We were also told that if we get behind they may or may not help us! The man my husband spoke to talked to him as if he was a dead beat. It seriously pissed me off! My concern is that we will get the same story from our first mortgage company Wilshire. Are there any suggestions you can make that will get these companies to cooperate until I can start producing a decent income. I know that there are laws in the works to help prevent foreclosures and bad lending practices. I'm not sure these laws will pass or pass in time to help us. If we can't get the loan mods thru we are seriously in trouble. Our mortgages are of course our biggest expense. We have no unsecured debt. We have an electric and oil bill (they have recently tripled), car payment, insurance, gas, food and business expenses. Any help you can offer would be greatly appreciated.

Thank you for joining the forum and welcome...

First things first...the laws that they are chatting about have no teeth and they are going forward...they will not address this mess, and frankly will not help stem another mess. They are toothless wonders.

The guy at Wells Hell was a collection moron or akin to one...they have a very bad habit of being condescending and often down right lousy at customer service, they are however a member of the Project Hope program 888.995.HOPE...give that a try and see if you can get around that way. However, even HOPE has problems with Wells Hell. That by the way is my pet name for Wells, I have another one, cannot publish it on the forum...oh my

Now you have doozy for the first....Wilshire, a Merrill Lynch property, taking the place in time of First Franklin....that one is going to be politer, but very difficult to deal with...you will have to be very firm, assertive and mostly aggressive with them. They are not one of the ones that has a lovely reputation, so approach with a clenched jaw. Do not meekly ask for a modification package require one, if they give the stock answer of we are not modifying, then require one anyway....

The organization to report them to is HUD Homes and Communities - U.S. Department of Housing and Urban Development (HUD) and FTC Federal Trade Commission - Home. Please do if you have problems. Also with them you might give HOPE a try. Modification with them is going to entirely depend on the pool that your mortgage was sold into and how much of an issue that Merrill has with that pool. They have one now where they are being sued by the Investors that bought into the pool --- fondly known as NORMA. That one is really a pip. So, with Wilshire, you will have to be very determined and assertive.

Depending on your state you may have a Banking Commission and a State AG's office that can also provide some assistance with the modification if they refuse. What ever you do --- DO NOT BACK DOWN with either of these groups.

You might also QWR the file, we do find under certain circumstances that it has some good results. QWR -You need to be the proactive, responsible party with them and keep at them. It would not hurt to send a QWR demand - there are examples of the letter in the Tool Box. In that letter demand your Life of Loan History, copy of Note, Deed of Trust, Riders, all Assignments of the Deed of Trust, TIL, Right of Rescission (if refi), Lender Final HUD-1, copy of initial loan application and final lender loan application, all disclosures and all loan documents in your file, copy of appraisal. Send this three times certified return receipt required and also send it to the Broker, Title Company and all others in the Chain of the Transaction.

This thread has a really good example:

My Countrywide escapade and Hi! - Foreclosure Questions & Mortgage Help With Loan Safe