Countrywide!! Modification approved!!!!

[LosingFast]

I'm looking to do the same. Did you do this through your mortgage company or witht he help of the Hope Now folks? Please let me know.

Thanks and congratulations!!

[Cat Damiano]

LosingFast,
Here is Shannon's threads to her story so you can see just what she did.....

http://www.loansafe.org/forum/showthread.php?t=687

http://www.loansafe.org/forum/showthread.php?t=729

http://www.loansafe.org/forum/showthread.php?t=1110

http://www.loansafe.org/forum/showthread.php?t=796

Hope this helps you!!
Good Luck on Your Modification too!!!

[ladiit]

that is so WONDERFUL! I'm a Realtor and it breaks my heart everyday to hear the loss stories as well as when I try to do short sales and that isn't working out either. Maybe though the banks are GETTING IT FINALLY!
Congrats AGAIN!

[shannonek]

Hello everyone!!

Thanks again for all the congrats! Well I got my docs today! As promised my loan is at frozen at 5.7% for 5 years!!! The modification did not cost anything and we do not have to make a March payment.

In the cover letter, it said to return the application for auto withdrawl of payment, but package did not include app. so I called our negotiator Christy Mcgowan (very nice girl) and she said that it would not be necessary, it was an oversight on her that she didn't omit that part. She also told me that it was not possible to modify our second rate (9.875%) That is fine by me, because it is fixed and I was really only worried about the first! It would have just been the cherry on top! I still can't believe that this is a done deal! I am so happy and relieved!!!!

Here are the biggest misconceptions that kept me from even trying the modification route until I found Loansafe.

1. You have to be late in order to qualify for a modification
2. You must have a serious financial hardship
3. It takes 3-6 months
4. You can't do this yourself!
5. It's a pain in the a$$!!!!


Reality

1. I was never late
2. good steady income, but no LTV
3. 5 weeks
4. You CAN do this yourself!!!! (with the help of y'all)
5. It's a pain in the a$$!!! No gettin around that one! I lived at the Kinko's fax machine!


All in all my case was "easy". My only real problem was LTV. I feel for so many of you out there that are in much more dire situations than my family and I hope that each and every one of you can find the best solution for you. Don't give up! To quote the famous Poppy "call call call fax fax fax" I am positive that the turning point in my case was the QWR. It definately put some fire under their bums!

Moe: Of course, that is the least that I can do!


Thank you,


Shannon

[Andrew]

Good deal. Maybe the five years can give you some breathing room and you can come up with a game plan for the 6th yr.

[CWs nightmare]

I AM SO GLAD TO HEAR YOU GOT YOUR PAPERS AND ALL IS IN LINE!!!! I found out today that my investor is Bank of NY with CW being the servicer so I am hoping for a positive outcome too...thanks for sharing...

You made me laugh with the pain in the a$$ part. Yep, can't get around that!!!

[Moe]

and that is perfectly fine Shannon! I appreciate that, A LOT and wish you the best in life!

[alikeith]

Shannon,
Quick Question for you.

I see that the investor on your loan is Bank Of New York. When you were given your mod, did they mention anything to you about only being able to have one modification? I too have Bank Of New York as the investor, and am trying to get a mod as well. I had one about a year ago, and we have fallen into hard times...again! At the time of the first mod, they stated we could only have one mod during the life of the loan. Just curious if anything was said. I see Andrew had mention that Bank of New York lets Countrywide have the last say on the mods, so maybe that will be to my advantage.

So you had to provide bank statements? Previously we did not have to do that. Do they really look them over?

Ali