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US Bank Mortgage Modification Help!

Discussion in 'US Bank Home Mortgage' started by Praisehm, Feb 7, 2009.

  1. Praisehm

    Praisehm LoanSafe Member

    We have a mortgage with US Bank.

    We have been trying to work with the loss mitigation department to apply for a loan modification.

    Unfortunately we are being met by a brick wall. When we are actually able to get thru on the phone (about half of the time), we are met with rude and inept people.

    We have sent in our paperwork as required and our first application was denied because they said I was unemployed. Which came as a suprise to me since I have been with the same company for over 3 years. When I tried to tell them this is wrong, the woman on the other end of the line, told me "Sir our records show that you are not working". So I resent my proof of employment, they shut us down again. Why? Because this time I did not send my monthly bill statements, even though it is not requested on their forms.

    My wife has had conversations with 2-3 different people in US Bank's mitigation department pleading with them for help. The overwhelming response from them is to "make more money and spend less" WOW what great advice.

    Can anyone on LoanSafe help? Do any of you have experience dealing with US Bank?

    Thanks for the site.

  2. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Hi Tom,

    Welcome to the forum and thank you for joining.............

    The modification given is up to the investor on your loan............if this is the only property you own..................you may want to try going through NACA instead............they will put together a modification proposal and negotiate it with the investor on the loan through US Bank.
    The services for the Home Save modification program are free and they are a non profit HUD approved counseling agency..............
    here is the link for the info...........
  3. altramae

    altramae LoanSafe Member

    My lender is US Bank. They started proceeedings against me 1 year ago for which I hired an attorney to defend myself. I had encountered a temporary hardship which has long since been rectified- but they just would not give me a chance at all. They finally received judgement against me just recently and at the same time agreed to consider a loan modification. They are extremely, difficult- mean, angry- no returned calls, office closes at 4:30 pm. I get nowhere with them. What am I doing wrong? I am trying to understand the psychology of this bank? thanks for any comments..
  4. ABC123

    ABC123 LoanSafe Member

    No you are not alone. I have US Bank as well and have been fighting with them since 2007 to get some help! The people in loss mitigation are rude in incompetent. When they posted on thier website that they were participating in Making Home Affordable I called them and they told me they knew nothing about it. The guy said that Obamas plan was only for Fannie and Freddie backed loans and US Bank was not participating. I actually made him go out to his own website and look at the page... he was shocked and said well sorry but I dont know anything about it.

    I have faxed over modification documents on 4/6, 4/22, 5/18 and then again on 5/29! Finally this last time they were submitted. Today is 6/17... and I am still waiting. I call every few days and they tell me it is still waiting on approval. Meanwhile I am drowing here. I make 30k less than I made when I took out this loan... and I dont know how much longer I can hang on. Also I am waiting on this mod to get finished so I can file Bankruptcy... Thanks for all the help Obama...
  5. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    This would be US Bank...........not Obama................while US Bank may have the information available for show on their website.................they did not sign a contract to participate...........in which case, unfortunately, they are not obligated to follow the guidelines............
    FinancialStability.gov | U.S. Department of the Treasury
  6. altramae

    altramae LoanSafe Member

    Upon any contact with this organization regarding mortgage problems, it is made clear by that rep that they don't participate in anything. Read that "we are not obligated to do anything for you" and they don't. Their answers are arbitrary and are made up as they go along. They are not even obligated to be courteous, polite or respectable.

    ABC you are lucky you were provided the slightest hint of a status. I sent my papers Fed Ex on 4/27 and got a signature on them so they couldn't say they weren't received. After 7 left voicemail messages I've gotten no farther than the voicemail of the "dear friend" that has told me NO and foreclosed on me about one year ago today. He has yet to return a phone message. They look up my account number account number and say I'll transfer you to .....

    They also close at 4:30pm est-(in 2008 they were open until 6pm) -let's see jeopardize my job by being on personal calls at work all day or lose my house....

    I've developed an ulcer from the stess.
  7. ABC123

    ABC123 LoanSafe Member

    Altra I understand the stress. I believe that since they know we are in no position to refinance and therfore are stuck with them they just dont care! I laugh everytime I see a commercial that says "5 start service, Guaranteed" HAHAHAHAHAAHA

    What I love is when you are talking to somebody and they put you on hold and the next thing you know you are talking to somebody else who has no idea who you are!! This happens to me several times in each phone call. I have repeatedly tried to get to a manager but I get dumped into a voice mail that Im convinced actually belongs to no one... I have considered going into a branch and seeing if I can get them to help me... I would love to sleep at night with out the aid of a sleeping pill....
  8. altramae

    altramae LoanSafe Member

    US Bank is one of the 10 banks that got permission to return the TARP funds to the US Treasury. They are big here in the Midwest. As of today they've already returned a portion of those funds. .

    This doesn't mean they are financially stable. It just means they wont participate in the Home Affordable program and helping consumers with time loan modification services. Also, their CEO's will not be capped by bonus guidelines that have been set by the Obama admin.

    Basically they can continue to treat people like scum while their homes get sold right from under them. Returning those funds adds more fuel to their already arrogant attitudes, poor treatment of customers, deceptive practices and game playing with customers. Most of them thrive on their narcissistic power to wreck someone elses life without batting an eye.

    I would sell my soul to the devil to be able to get my loan away from them!
  9. fireflyer

    fireflyer LoanSafe Member

    It has been eighty-four days since I requested a US Bank loan modification through Obama's plan. I have called twice and been told that I am somewhere in the process, unknown where, unknown time frame for a decision. I got a letter saying it would be another 45 days before a decision was made. That 45 days ended 2 weeks ago. I still have never faxed them any information at all, but the person I spoke with 2 weeks ago said it wasn't necessary. I'm not even sure if they are doing anything at all with my account (except I did get that 45-day letter in April).
  10. Praisehm

    Praisehm LoanSafe Member

    So fellow US Bank members I would like to report success with dealing with them.

    It was not easy, but basically I was fed up with dealing with all the LLB's (low level bozos) in the Loss Mitigation and other departments. It was always a run around with them. Making resubmit paperwork all the time with the exact same info, never letting me talk to a manager etc....

    So I did some research and ended up contacting the following people:

    Richard Davis, CEO U.S. Bancorp
    800 Nicollet Mall
    Minneapolis, MN 55402-7014

    Dan Arrigoni
    President and CEO, U.S. Bank Home Mortgage

    Andrew Cecere,
    Vice Chairman and CFO, U.S. Bank

    What I did was first I mailed them a hardship letter that detailed the circumstances we where in and why we needed their help in saving our home. I also explained to them the difficulty we had in working with their departments and how frustrating it was for us to try and stay in our home and got no help from USBank.

    I then waited 3 business days after mailing the letters and began to call into them using the above main number and asked for them directly. Of course I did not get them, but their assistants took my info and reason for my calling.

    Within a day, I got 2 calls back from a manager in the proper department for my government backed loan and immediately got to work on a restructuring of our loan. They provided a plan that would get us within acceptable $$ amounts and more importantly keep us from losing our home.

    If you really desire to stay in your home and are willingly to work out a payment plan it will take work. Do what I did, stop calling LLB's and go to the top.

    I hope this helps.

    God is in control anyways, so all the credit goes to him.
  11. ABC123

    ABC123 LoanSafe Member

    Was your loan Fannie/Freddie?
  12. Praisehm

    Praisehm LoanSafe Member

    Neither it was FHA
  13. Ozbaby

    Ozbaby LoanSafe Member

    Praisehm, thank you over and over for sharing this information! It is so good to hear a success story in dealing with US Bank. I too am with US and I am just beginning to learn what a piece of work they are. I came to this site to learn from other people's experiences and to try to figure out what the likelihood is of improving my circumstances. I am working with NACA but being at the very beginning of that process has left me with many questions. Contacting loss mitigation myself was just a joke. I was told to default for at least three months and then call back but there was no promise that they would be willing to do anything at that point either. My plan currently is to let the negotiators with NACA do what I have seen them to be excellent at and try to be patient. If this fails, I will try to refinance with a lender and start over. If nothing else, I want to work with a company with some sort of regularity to their processes. I will not gamble for the next undefined amount of time with who picks up US Bank's phone next time I call. It's a crap shoot - will they have a clue about their own regulations and practices or is this more unfounded statements and lies? I'd rather move to another lender and start the process over with NACA again if need be. How else will these people learn? Bottom line is, I am in a bad spot but as a consumer, we all are more powerful and I intend to use that to my advantage by all means possible. Wishing everyone the best of luck and easier breathing in days ahead!
  14. DawnsterNAZ

    DawnsterNAZ LoanSafe Member

    Thank you for the info on contact info for US Bank. I have been calling for months to get a loan modification (LM) from US Bank. I have an FHA Loan and was told by a colleague the government approved LM's on FHA loans in August.

    US Bank tells me "their investor" hasn't approved it which to me is BS. Of course they are willing to do a refi on me, I have good credit, a good job, and am not behind on payments, but they want $1,000 in fees up front yeah right!

    I just want a modification because as a teacher I saw a reduction in income due to the budget crisis in our state of AZ. I have a roommate now to make my mortgage payment.

    I am writing the CEO, CFO and Davis as we speak, and will be filing a complaint with the BBB and US HUD office. US Bank's website even advertising LM's on other loans besides Fannie Mae and Freddie Mac, but they don't even offer them. It's ridiculous
  15. ABC123

    ABC123 LoanSafe Member

    please keep us updated. im curious to know what happens
  16. DawnsterNAZ

    DawnsterNAZ LoanSafe Member

    I just hung up with the government agency handling Making Home Affordable. They are awesome! They said that US Bank is on the list of lenders who took the money and should be providing loan modifications. So yes they are advertising it on their website but they aren't offering it to me as a customer, who is not behind, BUT whose mortgage is over 31% of our gross monthly income. Their number is 1-888-995-HOPE and they will transfer you to an escalation agent after checking if your lender is part of the MHA plan. US Bank IS!

    I have written the CEO, and CFO and also filed a complaint with the BBB. Don't think there is much else I can do. I will keep everyone posted. See in order for US Bank to receive money from Obama's bank bailout, they had to agree to cap CEO and CFO bonuses.

    But what I can conclude US Bank is doing is they say they are offering home modification, but they don't really do it for people who are current. It keeps money funneling in and they made some off the bailout as well!
  17. ABC123

    ABC123 LoanSafe Member

    In my experience they have not been willing to do ANYTHING for me until I had hit 4 months past due and had received the Notice of Intent to Foreclose. Even then they first offer to do a forebearence to bring you current. If you fall behind AGAIN thats when they start to consider maybe helping you. maybe. It wasnt until I filed Ch. 7 that they finally actually sent me out the paperwork! This was after 5 months and resending the paperwork they asked for 8 or 9 times. Then all the sudden they said Oh yeah by the way We ARE participating in the HAMP! Now we need you to send this HAMP paperwork back to us, twice and dont be late or we will cancel the whole thing!!!

    Im exhausted and its still not done. I have no idea how I am going to make the payment on the 1st...
  18. DawnsterNAZ

    DawnsterNAZ LoanSafe Member

    So I played phone tag for the past three days with a US Bank Rep in their default department, even though I am not late. She was calling me in response to the letter I sent the CEO and CFO. Apparently she limits how many times a day she answers her phone.

    Well once I got her on the phone I got the typical, "we are only helping customers who are late". I told her she needs to re-read what was passed in July for FHA loans, and that she also needs to read her company's website, that says they also will do modifications on customers facing financial difficulties or hardship making their payments. At that of course she brought up the investor BS on why they wouldn't modify my existing non-late loan.

    I have filed a complaint against them with the BBB and the Us Department of Housing for false advertising and not following the practices that the Making Affordable plan is set up for, we'll see what happens, but just like everyone else has said it's a waste to talk to them directly!

    Will keep everyone posted!
  19. Shannon74

    Shannon74 LoanSafe Member

    I have been working with US Bank to get a loan mod for 18 months. I have submitted the necessary paperwork 3 times!!!! The second time I actually hired an attorney who of course, did nothing, did not refund my money and only caused me to fall 3 months behind, which is what they told me to do. All I am asking is to get out of this horrible adjustable loan and fix my rate. So far, no dice!!!! Everytime I call they say it is still being reviewed. Even when my payments were so far behind, no help! I would love to get away from this bank, just jerks!!!!
  20. DawnsterNAZ

    DawnsterNAZ LoanSafe Member

    I will keep on this, I won't let US Bank get away with what they are doing. They signed an agreement with the US Dept of H& UD and they need to keep their promise to help their customers who need it.

    The local news is investigating banks that aren't following through with the Making Home Affordable Plan here in Phoenix, so contacting them, along with President Obama himself, is my next step!

    They obviously want to keep the money they got out of the govt. payout and keep making the most out of their customers too!

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