Home Loans and Support

How to postpone sale while under review for hamp

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by kmarvin, Jul 7, 2011.

  1. kmarvin

    kmarvin LoanSafe Member

    hi, i've had a loan mod app under review for a hamp modification for 1.5 years. i am currently in foreclosure, and sale date has been set. bank is bank of america, freddie mac is investor, and i'm told that load mod status is still under review, but haven't been granted a postponement and sale date is 7/21. i'm about 12 months delinquent, and am worried that property (where I reside) will be sold from under me, while waiting for the loan mod decision. haven't even been given trial payment numbers yet. is there anything i can do to prevent this?

  2. freedomwon

    freedomwon LoanSafe Member

    kmarvin - Welcome to Loan Safe. Yes, there is something you can do. Please click on this link & read the letter I sent to BofA to get my sale date postponed. http://www.loansafe.org/forum/bank-america-home-loans/41283-my-recent-letter-bofa-part-2-a.html You will find 2 letters in that thread. I got my sale date postponed both times. You are welcome to copy & paste the parts that apply to you! I also recommend you fax the letters as well to 2 different departments within BofA.

    Hope Department 1.800.658.0395
    Home Retention Department 1.716.635.7255

    Be sure to send your letters CMRRR (certified mail registered return receipt). Keep us posted on what happens!
  3. freedomwon

    freedomwon LoanSafe Member

    Yes, it's definitely exhausting & stressful. It has taken a toll on my health. I don't believe there is any legal recourse if your property is sold while under hamp review. Reason being HAMP is not a law, it is simply a directive. Getting a loan modification is a privilege not a right. The length of time you have to vacate the property will depend on what state you are in & how far you would like to take it. Keep in mind, as soon as you move, you have voluntarily vacated your property. You loan servicer wants to intimidate you & hope you will leave based on FEAR! They count on that.
  4. coverexile

    coverexile LoanSafe Member

    KMarvin- Did you ever grt this settled? Did you get the foreclosure postponed?
    I'm in a similar situation as you. Thanks.

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