Home Loans and Support

Hamp Denied but IN-HOUSE Approved~Nationstar

Discussion in 'Loan Modification' started by dpd99, Mar 3, 2010.

  1. dpd99

    dpd99 LoanSafe Member

    Hi Everyone,
    I wanted to try and offer some HOPE to those of you that have been declined the HAMP, as I was after 4 payments. However, Nationstar Mortgage DID provide and IN-HOUSE Mod with same type terms. They are 2% years 1-5 and go up 1% each year after with a final cap @ 5%, they also refinanced my escrow shortage into 5 year payout. I went thru hell just about every week with all their BS but could not give up. Im sure their are people out their that got better mods, but I am VERY HAPPY with what they did do, kept the payment in my budget. I truly HOPE all of you have the success you need on your loan mod. GOOD LUCK to ALL, and just keep trying, hopefully your day will come soon!
  2. Medic Kam

    Medic Kam LoanSafe Member

    What if you have a diffrent mortgage company, will nationstar buy your loan and give you those terms?
  3. 3930fairfax

    3930fairfax LoanSafe Member

    Hey dpd99,

    I am applying for in-house modification, after Wells Fargo denied to convert my HAMP into permanent payment. They just start to consider a in-house modification. We have a few concerns that I hope you give us some guidance.

    1. We are running out of cash in near future, and we need to complete our in-house modification asap. Would you share how long you took for a in-house modification?

    2. What kind of documents they requested when you applied for in-house modification?

    We just want to get some idea of in-house modification. Any ideas are appreciated.
  4. dpd99

    dpd99 LoanSafe Member

    Hi, I did NOT provide anything further to the mortgage company, everything was sent in originally for the hamp and they used that info to provide the in house mod. I was told on the 8th of the month that I was declined hamp, and they had the in house mod approved by the end of the same month. Then I skipped 1 month payment and began paying the next month the new mod payment. By the way, we did NOT apply for in house, after we were turned down, the mortgage company offered up the in house mod on their own as we did not ask for it but are VERY GLAD they offered. I hope this helps, Good Luck~

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