HAMP Question???

[acesfull]

Hi All

Can someone with HAMP knowledge please help with this question?

In another tread, a member mentioned that there servicer (BOA) told them that onces they refuse a Hamp Mod, That they can NEVER apply for the program again.

Well fellow members, NEVER seems like a long time to me..

Is BOA giving one of our members the correct information?

I will be doing more research on HAMP myself in a few months but for now I am in need of one of our LS experts.

Thanks to everyone in advance, you are all great..
Best regards,

Nj-7 months
Acesfull/Hampster Wheel PLayer

[rwnabuck]

I have applied several times -- as our situation has changed.

[dianne]

I applied at least 15 times. I just received my final mod. documents. Keep trying! My income never changed, but every time, there was something wrong on THEIR end, that I had to challenge....AND I did!

[rwnabuck]

Dianne -- were you able to find out what the issue was on their end so you could correct it? Who is your lender? Ours is GMAC and it is very difficult to talk to any of the decision makers -- just who answers the phone. I am so happy for you and your mod. Thanks!!

[fredk]

i dont have an answer but i think others are not understanding what you are asking

he wants to know if you REFUSE a hamp mod are you unable to participate again in the hamp process

[SurfwhenUcan]

I agree with rg - valid reason is OK but if you get an offer from them that is properly calculated they are not likely to give you another one. Now, is this written in stone? No, however - once the lender has met their "obligation" (in quotes because HAMP is not law and they are not obligated to do anything at all) then that's it. You can scream and holler, file lawsuits all you want and it won't change anything.

I have helped people get different terms but only if something had specifically changed in their situation post-submission, could be documented and DIDN'T blow them out guideline-wise. Or else the lender had miscalculated and I called them on it.

A quick tip for anyone who finds a miscalculation (like income) - most people just call and challenge it. I make a documented case - if it involved paystubs, I fax in a package with the paystubs in question, bank statements showing paystubs deposited and a concise spreadsheet showing all calculations. This is all itemized in a coverletter bulletpointing the issues and no more than a few sentences. Then I call until I get someone on the line that can 1) tell me the fax has been recieved, 2) will go over it page by page 3) document our conversation specifically stating that a miscalculation has been uncovered and 4) flags the file and escalates it. Then the next day I call and verify the file has been dispositioned as agreed the previous day. If not, go back to the beginning of this paragraph and start over. Get a rep on the phone who won't help? Hang up and call back until you do. I don't even say good bye.

Doing this may not guarantee a result in your favor (many times a mistake you think the bank makes is simply a miscalculation on your part) but not doing it almost certainly guarantees not getting a result in your favor. Use calm persistence. Mimic a quiet hydraulic press rather than a herd of stampeding buffalo and results can be forthcoming. Plus buffalo get tired and gotta rest once in a while. The press never sleeps.

[acesfull]

Hi All

Thanks all for the great reply's.

Best regards,
NJ-7 months
acesfull

[cheri]

My friend who is a realistate agent said they getting rid of MHA July 1st!! what about us that are in review??

[SurfwhenUcan]

Do you mean this? Fannie Mae retires HAMP option for mortgage payment reductions « HousingWire

That's pretty much a failed program - good riddance.

I would say based upon 1) the low percentage of successful HAMPs and 2) the high rate of redefault of those HAMPs it's a tough sell to those in government right now that the HAMP program itself is working well enough to continue but I do believe that HAMP the program does continue. Frankly, none of this is being used with any effectiveness by the banks. The main reason being their only motivation is loss mitigation, not to helping homeowners. Always has and always will be. Loss of HAMP is no great loss in my opinion.

[dianne]

Dianne -- were you able to find out what the issue was on their end so you could correct it? Who is your lender? Ours is GMAC and it is very difficult to talk to any of the decision makers -- just who answers the phone. I am so happy for you and your mod. Thanks!!

Rwnabuck....It was just a mess. Every time, something new was wrong. They had my home valued WAY too high and I countered that with my own appraisal, and a licensed home inspection, and mold and air, quality tests. They had my income too low, and I corrected that. They lost documents repeatedly. They had my income too high and sent me three mods. all for the same amount, three different months in a row. They said that they needed my husband, out of the home under a domestic violence order, to sign a quit claim. He held that hostage for over a year. They told me, when they got that quit claim, I would be approved for a mod., and as soon as I pried that out of the man's hands, the bank turned me down flat. They had never done a real appraisal on my home, even when it was newly built, and in a community with almost no building permits and inspections...Can you believe, there is such a place?! I was finally approved for a correct mod. I made my 3 payments, and received my final packet, within a month. It required my husband's signature. I contacted the bank, and explained that the reason for the quit claim, was so my husband had to sign NOTHING! They said he had to sign, then I pushed and they said he didn't. He didn't, but I had to wait for new documents. I received a letter from the bank, telling me, thanks for returning the documents, (I didn't return them) and letting them know they were incorrect. The first documents came, only a few days before they were required to be signed and returned. The second set came, and I had no time, to even take either set, and have an attorney review them. I enclosed the monthly payment, they stated in the perm. documents. I contacted customer service and told them, I had enclosed my monthly payment. I received a letter, within a day, stating they hadn't received the perm. documents, and I was at risk of having my HAMP cancelled and couldn't reapply. I sent the second set of documents, back to GMAC within 2 hours of receiving them. It has been about 5 days and my on-line account is updated, but the payment I sent, was not credited to my June 1 payment. It was just dumped in somewhere. The account now says I owe that payment, plus another $70 for June 1. It is showing a $299 late fee. I was told I would skip a payment and I didn't get to. Thankfully I saved my payment and with 5 chicks, you can only imagine all the things they need......So it never ends. The games just never end!

Analyze all the problems you are having and file the appropriate complaints. When your complaints are answered, the person responding to your complaints, will work in the executive office....That is who you need to call. Contact the person, who answers your complaints. You need to file with a regulatory/govt. office. Many can be done on-line. They apparently don't like you squealing to every possible agency. Have they lied to you, have they lost documents, over and over, have they intimidated you, given you fake sale dates,(Only a judge can issue a sale date, in a judicial state), come to lock you out, used an inappropriate valuation? Can you even understand the person you are speaking to? Are they even in this country? Are they harassing you, even though you have asked them to stop?

If I can help, let me know...I had...Like a 0% chance of a mod. so if I could do it, you can to. We just need to help one another. Good luck!

[cheri]

Im worried, because we and many others on here are in reveiw and we will be tied up at the treasury department for months. I dont feel that would be fair to the ones who have been fighting this for years , then for the program to go poof : (

[cheri]

Rwnabuck....It was just a mess. Every time, something new was wrong. They had my home valued WAY too high and I countered that with my own appraisal, and a licensed home inspection, and mold and air, quality tests. They had my income too low, and I corrected that. They lost documents repeatedly. They had my income too high and sent me three mods. all for the same amount, three different months in a row. They said that they needed my husband, out of the home under a domestic violence order, to sign a quit claim. He held that hostage for over a year. They told me, when they got that quit claim, I would be approved for a mod., and as soon as I pried that out of the man's hands, the bank turned me down flat. They had never done a real appraisal on my home, even when it was newly built, and in a community with almost no building permits and inspections...Can you believe, there is such a place?! I was finally approved for a correct mod. I made my 3 payments, and received my final packet, within a month. It required my husband's signature. I contacted the bank, and explained that the reason for the quit claim, was so my husband had to sign NOTHING! They said he had to sign, then I pushed and they said he didn't. He didn't, but I had to wait for new documents. I received a letter from the bank, telling me, thanks for returning the documents, (I didn't return them) and letting them know they were incorrect. The first documents came, only a few days before they were required to be signed and returned. The second set came, and I had no time, to even take either set, and have an attorney review them. I enclosed the monthly payment, they stated in the perm. documents. I contacted customer service and told them, I had enclosed my monthly payment. I received a letter, within a day, stating they hadn't received the perm. documents, and I was at risk of having my HAMP cancelled and couldn't reapply. I sent the second set of documents, back to GMAC within 2 hours of receiving them. It has been about 5 days and my on-line account is updated, but the payment I sent, was not credited to my June 1 payment. It was just dumped in somewhere. The account now says I owe that payment, plus another $70 for June 1. It is showing a $299 late fee. I was told I would skip a payment and I didn't get to. Thankfully I saved my payment and with 5 chicks, you can only imagine all the things they need......So it never ends. The games just never end!

Analyze all the problems you are having and file the appropriate complaints. When your complaints are answered, the person responding to your complaints, will work in the executive office....That is who you need to call. Contact the person, who answers your complaints. You need to file with a regulatory/govt. office. Many can be done on-line. They apparently don't like you squealing to every possible agency. Have they lied to you, have they lost documents, over and over, have they intimidated you, given you fake sale dates,(Only a judge can issue a sale date, in a judicial state), come to lock you out, used an inappropriate valuation? Can you even understand the person you are speaking to? Are they even in this country? Are they harassing you, even though you have asked them to stop?

If I can help, let me know...I had...Like a 0% chance of a mod. so if I could do it, you can to. We just need to help one another. Good luck!

Dianne, what do you do when investor wont participate?

[dianne]

Cheri, I don't know officially what to do if your investor doesn't participate. I was told by GMAC, that they didn't do principal forbearances. I was told this by Fannie Mae as well. They also told me, it didn't matter what GMAC had valued my home for, even if it was 6X, what is is appraised for. I surely did get an almost $70,000 principal forbearance. I was told by Fannie Mae, I was getting a modification, any way, any time......

My bank did everything to get me to crawl into a hole and go away. My spouse, out under a DVO, did everything he could to put 5 children, two disabled on the street. My house will never have any monetary value, but the land is priceless. It is our lifestyle and contributes to my children's faith, nutrition, entertainment, and education. I wasn't going down easily. My children have laying hens, baby chicks, a baby lamb, and a pony coming soon. We are putting a fence up, so we can get beef cows and a milk cow. We have been clearing an additional 25,000 sq. ft. of land for our garden expansion. We have been using a shovel, clippers, axe. It has taken a month and we are definitely a spectacle. Tonight that land is finally plowed and tilled, and tomorrow the irrigation and black mulch will be down and the plants and seeds will begin to go in.

I fought with everything I had. I filed complaints with everyone connected to my bank. It was these complaints, that got us into the executive office. The person answering my complaints, was the person that I eventually contacted and who became the only person, I had to deal with. Every issue or question, was answered almost immediately, by e-mail or phone. She called to tell us we were approved for the mod. and we were all crying. I don't know if this woman is an angel, or is paid to be one, but she got the job done. I do believe she is a decent person.

File complaints with every regulatory agency, connected to your bank. You will receive copies of your bank's answers. If this works the same as with other banks, besides GMAC, contact the VERY person, that answered your complaints. I don't know if my bank had broken some law or they were so sick of me, that they didn't want to fight me any longer, but things changed immediately. When I contacted this person, she knew who I was. She said she remembered my letters, because they were so heartbreaking. From that moment on things changed. You have to get past that stinkin "Loss Mitigation." They are about worthless. One tells you one thing, another something else. You need to get into an individual, that has some kind of influence, no matter what that is. My mod. took 2 years. I feel your pain, but don't give in to them, fight, fight, fight!

[dianne]

Im worried, because we and many others on here are in reveiw and we will be tied up at the treasury department for months. I dont feel that would be fair to the ones who have been fighting this for years , then for the program to go poof : (

I don't think this is for the HAMP mod, but for something like a temporary 3 or 6 month forbearance type of program. I think the HAMP mod. is supposed to continue until the end of 2012, but I could be wrong. Now, that sounds like long time away, but my mod. took 2 years, so don't drop the ball.

[cheri]

thanks Dianne, Im so glad you got to keep your home. Were you late on your payments?
I have been calling the Hamp support counselor, I faxed them a REST Report, and they called me back stating, that they only get involved when theres a problem, I told them 3 years is a problem lol. anyway, he called me back the next day, stating he just wanted to check on our mod with BofA, and they told him the investor (wells) wasnt paticipating in Hamp, so they got involved, he called me last week and said they sent our modification to the treasury department because the inverstor is denying. I dont know what the treasury department can do? but I called him back today, but he was already gone off work, im west coast and he is east coast. I did talk to a person who answered and I asked him if I should be communicating with BofA or hamp solutions ? they said being my mod is at the treasury department, which could take months, it wouldnt matter to call BofA, but to call and try and work out a payment plan with them,I guess I should call Bof A and see if they can lower our payment while waitiing for this to get resolved. Being we were 9 months behind, then paid again for a year, but never got caught up on the nine months, Im wondering if Im wasting my time paying them, being they can foreclose from the 9 months we didnt pay in 2010. But I dont want to loose the home, we have animals too, and couldnt rent with them all.

[dianne]

Cheri,

Have you signed on with NACA? They are non-profit and will help you. They are overwhelmed with clients, but when you think they have forgotten you, they are actually still working hard to save your home. They can explain how the Treasury Dept. is working, to help you. They may be able to help by negotiating a mod., since they have agreements with most of the big banks. Since you are on the West Coast, I think they are having their big "Save The Dream," programs there soon. You would go to where one of these are taking place, and the major banks and NACA reps. would be there, and try and negotiate a mod. for you, right there.

You can also ask your bank for a forbearance plan. Try and push for a 6 month one. Harass everyone, including the Treasury Dept.

In the meantime, I would file a complaint with your AG's office, FTC, FDIC, you senators and reps. I was able to file on-line with each of these offices, so just copied and pasted a standard letter, outlining everything, then adjusted the individual letters, to include areas, that might be within each agencies jurisdiction. An example would be that the AG's office, investigates when their is a pattern, such as losing documents, lying to you, intimidating you, misappropriating payments...Things that they aren't just doing to you, but to many others as well. Some of the senators and reps., have aids assigned to helping just with these mod. problems. Harass all of these people to. Make sure they stay on top of your situation.

It took 2 years for me to receive my permanent approval, and I am waiting for the papers to come back from GMAC, signed. I was put on 2 forbearances, one GMAC messed up, and took away. The other for 3 months. I believe I missed 15 payments. The funny thing is, I received almost no communication from GMAC...Calls, letters.....Maybe because I was harassing them.

[SurfwhenUcan]

Dianne, what do you do when investor wont participate?

Cheri, have you gotten back with Charlie about this question? What is his take on it?

[cheri]

I have mentioned it in the Rest Reports matters thread, and also mentioned the Hamp support counselor said he sent it to the treasury department, that could take months? Charlie said to keep him posted, I think this is a new thing they are doing, sending it to the treasury department if you qaulify and investor not participating. But I haver no idea what the treasury department will do with this? have you heard of this? But I just got home, and going to call the Hamp counselor right now.

[dianne]

My complaints had to answered by the different govt. agencies in 30 days. Pretty quickly I started getting the help I needed. In fact, in one answer, the letter stated I was being offered a mod. However, the figures were wrong and this one was offered, again, and again, three months in a row. Then the 4th one was correct.