HOMEQ Modification SUCCESS!!

[heidi79]

workingmom, how long after sending the documents did you receive a package from them?

[heidi79]

Update: Finally on 5/18 I got the modification faxed over to me. It had the new and old terms and everything was how they said it would be!!!! My dad signed it in a heartbeat and we sent it in over night yesterday.

They want the first two payments certified or western union and then they said after 2 months I'd see the billing statement updated. Before the payments were $2,020.00, now they will be $1,540.00 from 9.125% to 4%. The only thing is it will be for 5 years, but by then hopefully our situation will be much better or they'll extend it.

The key was *** Damiano with her e-mail addresses to the people at Homeq! I sent the emails and they called us back right away to work on the problem. THANK YOU, AND BLESS YOU for your help! This makes the difference between my parents keeping and losing their house.

[Moe Bedard]

Heidi,


That is great news! Congratulations!

I am happy I was able to help point you in the right direction with the steps necessary to get the help for your parents........

[amyjeannine]

This is wonderful news to you!

I am inspired by your story and your helping your Dad.

I want to thank *** and Moe for this site as well. These discussions have been great for my sense of empowerment in my own situation.

[Barryo123]

I am heartened to see that someone has worked out a modification with HomeQ. We have been trying with all we've got to do so and have been told - repeatedly - they can't help us - and that they've already modified our loan. Here's the story - August 2007 our son was injured and needed to be flown to a trauma hospital by helicopter for emergency care. He is fine - thank God - and all - we thought - was well - Insurance covered a significant portion of the costs and we were making payments to creditors on time as agreed - including our mortgage payments to HomeQ. Then - August 08 we receive a call from United Resource Management - Collection agency demanding $9000 for the helicopter transport for our son that is over a year old! They sent paperwork to us to collect the debt via judgment - the whole works. My wife also was given a small severance package from her employer a few months previous to this as a result of downsizing and she was out of work and looking. Our mortgage through HomeQ was set to adjust in October of 2008 +2% minimum from 6.38 - 8.38+ and I knew that, with this bill needing action as well as our decreased income I would need to work something out. We withdrew our savings as well as 50% of my retirement (401K) and held back September and October's House payments - made September before November was due - and hoped we could just 'work it out'. This is all while the economy is imploding, the mortgage market is in self-destruct mode and things - generally, economically, were in ruin both nationally and within our family. I contacted HomeQ in October 08 and pleaded with them to help us and not reset the interest - I told them we could keep up with payments IF the interest did not go up and we would strive to catch up on the past due balance. They agreed to freeze our interest at 6.38 for 5 years. I accepted that and we worked to get back on track. With things as they are and our financial cushion completely gone - we have not been able to get back above board to this point. WE have contacted HomeQ monthly/regularly and have been told repeatedly that 1) they already modified our mortgage in October 08 - therefore the current incentives do not apply and 2) the HASP/HAMP is not approved through them and we cannot be helped. I have gone to HUD approved counseling to try and work with HomeQ and hit the same wall in July of 09 - HomeQ stated they are 'not participating in the current available programs' and they cannot help us. We sent payment in July and did not hear from HomeQ until a letter arrived YESTERDAY 8-26-09 stating they have been trying to contact us to no avail and we are now IN FORECLOSURE. Then - tonight's local newspaper has us listed as being foreclosed on by 'Trott & Trott, PC in Farmington Hills, MI. As of August 12th - HomeQ has begun participation in the HAMP/HASP program and has, on their web site links to qualifications for the programs. We do qualify - I have tried to keep the relationship with HomeQ at least cordial - I need to plan a move NOW and try to same my home for my family. I am hoping some the good mojo I have read here helps - HomeQ has a right to an equitable solution - I want to keep my home no matter what - SOMETHING must be possible to accomplish this. I can't keep up with the anxiety!

Thank you for ANY advice you have or any help you can offer us.
B

[heidi79]

Barry, I learned a lot in the process and can tell you that making out the financials correctly is what will get u there. I'm glad to hear they are finally participating in the Obama plan, it seems much simpler that they way they did it when I did my dad's.

I advise that you get all your stuff straight and contact them right away, the chances of you losing the house will be much less if you keep in constant contact with them. There's no reason why they shouldn't be able to lower your rate to the 4's like they've done a lot of other people.

In the financial information I kept the income at a surplus of $300, they will run credit to confirm all of the debt that you list.

I wish u the best on this, continue to persevere.

[heidi79]

Barry, definitely email your hardship letter to the addresses above, that's really what got everything going for us.

[MPDano]

Originally Posted by heidi79

The emails that *** gave us are:
keith.becher@homeq.com and art.lyon@homeq.com after sending email with hardship letter there I received a call back.

So just an update, the "qualifying payment" was sent in and the paperwork they wanted also, they say someone will be in contact with me within the next two weeks, we'll see.

I just sent an email to these folks. Let see if I get a reply.

[MPDano]

Wow, I got a call from Amanda in 1-1/2 hours after sending the email. Was directed to website and online forms to fax to her attention once completed. Will keep you updated.

[MPDano]

Submitted paperwork today 8/28/2009. Will report back when I hear something.

[Barryo123]

Well - I actually received a call from HomEq's very own Keith Becher after emailing them an inquiry of sorts regarding our circumstances. He was very cordial and even accommodating - yet - I could tell he was probably on his 100th call of the day - at least - and was about tapped out of answers to the same questions over and over. He didn't get my name right until about the end of the conversation. He suggested working with a Housing Counselor to start our process - I told him - twice - that we've already done that - then he started on about HomEq already modifying our mortgage once by freezing a pending rate increase back in Oct 2008 and I told him that it was not part of this new program - he hesitated and said I was right - and I needed to start sending the paper work in - forms found on their website. I told him I would mail the forms certified to his attention and he said that would be fine but it may delay the process - I told him that it’s not a horse race - I want his seal of approval on anything I mail to this company. Then - three days later we received 3 identical letters in the mail from HomEq regarding options we have available with the HAMP program - form letters X 3 - then - two days later 4 identical letters - same info. Now, I realize this company is overwhelmed with this issue - but if We’re receiving 7-10 identical mailings per week from them saying they can help us - I guess I don't know what to think about that. We completed all of the documents and sent them via certified mail to HomEq the next day - have not heard back yet. No more calls - no more letters - we'll see what today's mail brings. I get the feeling that HomEq is discombobulated completely. It's no wonder we're in such a mess financially around the country if this is an example of how these businesses operate. I do have a question, however - how do we deal with the Law Firm that has started the foreclosure process now that we've contacted the lender and started this process? I contacted them and they simply would not discuss it with us. They said that we need to arrange for a meeting with them through the lender! I guess I don't know how to do that or if I have to - I told the law firm we were working with the servicer and they acted like I was nuts saying 'how are you working with the lender when we have your file for foreclosure?'. Any advice?fficeffice" />>>
>>
Thank you for all you've done for us so far! >>
B>>

[Barryo123]

Well - I actually received a call from HomEq's very own Keith Becher after emailing them an inquiry of sorts regarding our circumstances. He was very cordial and even accommodating - yet - I could tell he was probably on his 100th call of the day - at least - and was about tapped out of answers to the same questions over and over. He didn't get my name right until about the end of the conversation. He suggested working with a Housing Counselor to start our process - I told him - twice - that we've already done that - then he started on about HomEq already modifying our mortgage once by freezing a pending rate increase back in Oct 2008 and I told him that it was not part of this new program - he hesitated and said I was right - and I needed to start sending the paper work in - forms found on their website. I told him I would mail the forms certified to his attention and he said that would be fine but it may delay the process - I told him that it’s not a horse race - I want his seal of approval on anything I mail to this company. Then - three days later we received 3 identical letters in the mail from HomEq regarding options we have available with the HAMP program - form letters X 3 - then - two days later 4 identical letters - same info. Now, I realize this company is overwhelmed with this issue - but if We’re receiving 7-10 identical mailings per week from them saying they can help us - I guess I don't know what to think about that. We completed all of the documents and sent them via certified mail to HomEq the next day - have not heard back yet. No more calls - no more letters - we'll see what today's mail brings. I get the feeling that HomEq is discombobulated completely. It's no wonder we're in such a mess financially around the country if this is an example of how these businesses operate. I do have a question, however - how do we deal with the Law Firm that has started the foreclosure process now that we've contacted the lender and started this process? I contacted them and they simply would not discuss it with us. They said that we need to arrange for a meeting with them through the lender! I guess I don't know how to do that or if I have to - I told the law firm we were working with the servicer and they acted like I was nuts saying 'how are you working with the lender when we have your file for foreclosure?'. Any advice?fficeffice" />>>
>>
Thank you for all you've done for us so far! >>
B>>

[heidi79]

Sounds great so far!! Follow up!

[heidi79]

The law firm as contracted by them to complete a foreclosure on you, so they are telling you that because they don't want to lose a file. I'm sure they are used to this though because they get many files pulled when the owner finally does a workout with the bank. They don't lose though because when they do complete the mod, you will see attorney's fees on the breakdown (if you happen to get the report)

Usually, the lender will notify that attorney that there is a workout in place, and sometimes the attorney puts things on hold. I sent the attorney on our case a letter letting them know we were going for a modification with the bank. I suggest you write them a detailed letter also. Truth is they will not stop going forward with the foreclosure process until you finally sign your modification. Make sure your house does not have a sale date scheduled. That info you can get from customer service. Meanwhile, they will just continue to rack up their fees, it's a win win for the bank and the foreclosure attorney!

It's a good thing you spoke to Keith himself, I haven't heard of many people doing so.

[3boys'mom]

Ok..My eyes are red of reading so many forums but looks like I found it! Homeq services my loan since 4/06. I was able to do my payments until 6/1/08..the day I stopped sleeping..
By March this year I was overwhelmed with debts and decided to file BK. I was finally discharged Aug-09 (the house was included). You didn't have to be a brilliant mind to realize that foreclosure was around the corner so I started freaking out and looked for a rent house to move in in April 09. Found a 100 yrs old house (mine is 2006) so started paying rent but didn't move out until Jul-09. I felt soooo depressed I even thought I need happy medication. One morning (9-3-09) I decided to call HomeQ so I could hear how they'd kick my butt by phone. To my surprise they said that they wouldn't have called me due to the BK but that I do qualify for HAMP. I felt my heart beating again. I submitted all info by fax next day. But there was a lil problem..they checked on the house and it was vacant (duh..it was) but that I could bring my stuff back an send the inspector again...so I did..LOL...
Called them 48 hrs later and an inspector was ringing my bell that same afternoon (9-10-09). That's all so far..everyting was turning perfect but now this inspectro doesn't report back to them. I've been calling everyday and today they told me to call in 5 days. I reminded the lady at HomeQ that the sale of the house was set for next week but she said that after the inspection the sale was postponed indefinitely. so my house is half empty, half full because I don't know if the deal will go through.
I still have the historic rent house that hope the owner will understand my situation and don't charge me the rest of the lease. Pretty messy but can't be worse, right?

[heidi79]

If I were you, I'd send an emergency e-mail over to Keith Bechers office ASAP becuase you have a scheduled sale date.

THE LAST thing people should do is move out of the house!!!!!!!!!!! There's always hope, they have the power to post-pone sale dates while they look at your paperwork for modification. After the house goes to foreclosure sale there's got to be something in writing giving you a timeline for moving out. Persevere till the end girl and don't leave!

[3boys'mom]

Heidy ..thank you for your support! I made me feel better. Now, since I'm assuming the e-mail to Becher is a one time opportunity..what exactly should I say? What can't I miss? Please help!

[heidi79]

It's not so much that it's a one shot deal. Usually, after that email you will definitely get a response from one of the very nice people in his office.

Really point out the hardship you've had with everything so far and also in the end add in that you are now in a more stable position, that you've cout out all unnecessary expenses, etc. and that now you will be able to stay on time if you have lower payments and a fresh start.

I wouldn't make it too long if I were you, just very factual and a one-pager. I'm sure they get so many emails, it's gotta get to them.

Don't forget your loan number and your cell or the best number for them to call you. Be ready when they do to give them financial info over the phone.

[thewigs3]

Originally Posted by heidi79

workingmom, how long after sending the documents did you receive a package from them?

It took us 7 months. We just got ours. SO much for the 30-60 days we were told.

[3boys'mom]

Heidi! I was thinking of you when 2 hours after my e-mail, my cell was ringing and a guy from Keith's office was saying that they've got my e-mail and wanted to talk about it with me. I'll always thank you for that.
Anyways, he said that the good news is that the sale was cancelled and he'd send foreclosure dept. a copy of it to make sure they are on the same page. But regarding the inspector not reporting back, he said that we needed to wait al least 4 more days.
I was reading the new todays about Fed slowing the pace of realeasing 1.4T to buy bad mortgages. Do you think this could affect HAMP?
Thanks again! You're the best and I'm so glad I found LOANSAFE.ORG !!

[heidi79]

I'm so glad they were able to post-pone! That's great. The e-mail to Keith Becher is priceless, thanks Moe!

You know it may have an effect, who knows, really I get surprised by what they say is going on and what it really turns out to be. Nevertheless, if they offer you a trial period HAMP mod and the payments are something you can afford, that would be great. If for some reason the program is affected, at least they will see good faith on the loan that you did make payments and that you CAN make them.

Also, even if HAMP doesn't work or for some reason you go through the trial period and they don't approve it, they can find ways to adjust the payments down to the HAMP amount with one of their own internal mods (that's what really makes sense to me but who knows!)

Hopefully the inspector gets them the info and you can be on your way with the modification! I hope only the best for you!

[heidi79]

Your financial information is the key after you get all these other things out of the way, so be careful with them. They are going to run a credit report to confirm the debt you're stating. Remember to have a small amount of money left over at the end of the income vs expenses, at least $200. This worked when I did mine.

For the HAMP program they will ask you for your gross income, so it's a little bit different.

[3boys'mom]

Ok...downhill again...the inspector reported to them that my house was vacant..ugh..
I asked for reasons and they don't have any.
Sometimes, I think they're taking me for a ride...
So now they want utillity bills..I'm starting to receive them but I don't know if I should send them right away 'cause they show 0(zero) previous balance... I might wait until next billing cycle..if time allows. someone told me that it wouldn't matter if it shows zero because the inspection was made when we were actually living there.
I'm thinking on hiring an attorney at this point.
Any comments or suggestions?? I'm all ears.. =)

[heidi79]

They won't be paying attention to the previous balance, make sure the service address and mailing address is the same and you're name clearly shows.

I was able to do this without an attorney, I suggest you try all you can before forking over the money to the attorney. Really in the end they could end up doing the very same thing for you but much slower!

So far, you've been able to do a lot on your own much quicker than with all of your previous efforts. If you're able to qualify under the Obama plan, you'll end up in a good place, even better than the standard 5 year mods most of us got from them. If I were you, I'd leave the attorney for when you're up against something that's totally out of your hands.

[coke123]

what Email address did you use for HomeQ?