Like others, my intent upon entering HAMP in Oct 2009 was to due to loss of income. My husband has terminal cancer and out income has been reduced. We are in a mess now, some due to our own fault.
- Fannie Mae backed morgtage for Massachusetts.
-87K mortgage, selling value estimated at 60K tops. lower class neighborhood riddled with foreclosures
-made HAMP trail payments nov 2009-may 2010. denied due to missing paperowrk (we had sent it in, they had it, but "illegible signatures due to their scanners on tax returns"
-offered ALT mod at same time of HAMP denial. close enough, we were happy! our fault: we were two days late in getting paperwork and check to them, arrived fedex 8/18 instead of 8/16. so we were denied.
-notice of default sent september, all back pay due by 1/30/11 to cure default.
-entered HAMP again, we will be denied due to savings, will go to "core" or inhouse for workout options.
-we may not be able to match tax records to stated expenses income. income yes, but we have our old house, and we are hoping for our daughter to take it once she fixes her credit. we did not offer this info, and I am guessing we made a very big error as they will be matching tax info and stated assests income to credit reports.
we have not received foreclosure paperwork yet, as HAMP delays this until a determination is made. if/when we are denied all workout options, and since our notice ot cure has now expired, is there anything we can do to save our home? we thought we always had the option to pay the delinquent amount owed, but now we see this is not always the case, as the right to cure ahs expired. we need to stay here. please, any advice?