ALS 1st/Saxon 2nd SUCCESS!!

[elpjohnson]

need2savemyhome.....

I know how you feel about the waiting.....IT SUCKS! I waited and waited almost 10 months before I was approved.....I was and did stay current with my loan before during and after my loan mod, so it can be done. I would continue to follow up as much as you want to (not as much as they tell you)....it's your house and I would call them politely and ask them for updates as often as you like....stay on top of it, you'll get results.....it just takes a lot of patience and perseverance BUT YOU CAN DO THIS!

Good luck and God bless!

[Merritt]

Interesting that Saxon was able to help you. We're essentially in the same boat and in fact we've been doing this for about a year now, and yet when we went to loss mitigation we were denied any type of adjustment. I loath Saxon Mortage..Sorry not the best first post for me is it? =)

I'll have to post a thread of my own with all the details later.

[need2savemyhome]

Ok, I heard from the new neg last week and told me that she was still reviewing the file and would contact me by the end of the week. She sent me another email saying that she would contact me this week if she finishes the review.

I have a feeling we will be denied. Just the thought that we will be denied makes me wanna cry. We did have a surplus on our financial worksheet but I don't know what else they look to make the approvals now since the corp went BK.

[need2savemyhome]

I called the main line of ALS
and the agent from the Home Retention group said that my new neg. is still reviewing the file and I would hear something by yesterday. No, I didn't hear from the neg yesterday or today.

I am going to call back tomorrow and see if there is any updates.

I have a strange feeling that we are going to get denied. We did show a surplus of about $200.00. I hope that is all they need to approve us for some type of mod.

Just the thought that we might be denied makes me wanna to cry.

[need2savemyhome]

Ok, I heard from my neg on Friday and was told that the papers are with the legal department. I was so excited that I forgot to ask the negotiator if there is chance that in the legal department it can be denied. Do you know if the legal department can overturn the mod? I tried calling my neg 10 times already but no answer just her voice mail. What do you think? I am supposed to hear from her sometime late this week with the details.

Now, I am on pins and needles again because I don't want to get my hope's up.

[need2savemyhome]

Ok, I haven't heard from ALS yet. I did hear from my 2nd Saxon and they approve our mod. He faxed the 1 page of the mod. He wants it signed and faxed back ASAP. Our second loan was for $143,000.00 at 9.3% with a ballon payment at the end of the 15 yrs. The monthly payment was $1206.00

NOW, our loan new loan is at 4.9%, extended to 28 yrs and the new payment will be $800.00. Savings of $400.00.!!!!!! Our loan was extended for 15 more years but at least we don't have the huge ballon payment anymore.

No payment for Octuber and the new payment will be in November. Since we were current, the neg said it would not be marked in our credit history that we don't pay the October payment.

I couldn't believe it when the neg called me to say it was approved and he had the terms for us and faxed the mod in 5 minutes. So tonight, my husband and I will sign the paper and fax it back to the neg.

THANKS SO MUCH LOANSAFE.ORG and everybody in this forum. We couldn't have done it without this site. I am so grateful I came across this site and gave me helpful information.

Now, we are waiting for Aurora Loan Services on our first mortgage. I hope we get some modification also.

Again to all those waiting to hear sometime, don't give up. Keep praying and calling until you get an answer.

[schwefls]

Need2savemyhome:

Kudos to you, party hardy, you deserve it.

[need2savemyhome]

I am over the moon. We got the neg last night from ALS.

I didn't know what the terms were from the last time I spoke with the neg but just knew that the papers were in the legal department.

We got our rate modified to 5.0% for the rest of the loan (28 yrs). They added the payment for Nov. in the loan and new modified payment to start December 1, 2008.

I screamed so hard when I saw the papers . Thanks again LOANSAFE.ORG for all the support and suggestions. I don't think we could have done it without this forum.

Old payment was $4568 (w/escrow) interest only.
New payment $ 4243 (w/ escrow) principal and interest.

Goodluck everybody with the mods. I thought we were hopeless and unmodifiable, but we weren't. We were able to modify both our loans.

[Moe Bedard]

Congratulations!!
Two Great Mods!!


Please let us know when you receive the docs and if you have any questions on them...........

[elpjohnson]

CONGRATULATIONS......God bless you and your family!

[need2savemyhome]

Thanks ***,
I already received the doc on both of them and signed them back.
Saxon was very straight forward document (1 page) that was faxed to me and I faxed back.

ALS was 3 pages long and had a page for where the lender had to sign as well. The package came last night via UPS and had a return selfpaid UPS envelope. The letter stated that we have 5 days to sign it and send it back. So, today I mailed the papers back after it was notarized.

I feel like a chip has been lifted off our shoulders.

[need2savemyhome]

Thanks Erika. You have been my inspiration to never give up.

[elpjohnson]

I am so happy that my story inspired you! It's so nice to hear that what I went through helps others to stay strong and continue the fight!