Wells Fargo MHA Loan Modification Taking FOREVER!!!

[Hossar]

I lost my job in March 2009, the next week I filed for unemployment and in May I applied for a Loan Modification through Wells Fargo under the Making Home Affordable plan. I received the paperwork, filled everything out and sent it in along with my first months trial payment. I was told this would take 3-4 months of sending in the trial payments and they would come back to me with a decision.

Here it is, almost December and whenever I call (which is once every week or two) they keep telling me "Your paperwork is with the negotiator and is being reviewed." The last time I called the person I spoke with said she sent an e-mail to the negotiator to escalate my paperwork.

I am still on unemployment, and have an extension up through May 2010. I've read so many stories on this forum about people who have applied for a Loan Modification after me who have already been notified by Wells Fargo on a decision, and yet here I am, still waiting to even hear back from them.

I have been unemployed for almost 9 months and I have sent in my 6th trial payment for the month of December. My loan is secured by Fannie Mae and my financial worksheet shows around a $200 positive. This is my first house, only 1 mortgage on it, value to amount owed (upside down -3.4%) and they have just this month reported my loan to the crediting agency so I took a 100 point hit now down to 694...

Is anyone having the same problems?

Is this maybe taking longer because I am unemployed?

Is there anything I can do to try and expedite the process?

Any words of hope?

[yomann]

I
Is anyone having the same problems?

Is this maybe taking longer because I am unemployed?

Is there anything I can do to try and expedite the process?

Any words of hope?

Hossar - your situation is really quite vanilla; nothing out of the ordinary.
Suggest you read all the Wells threads on the forum, and witness the experience of others and you will see the similarities.
(you can do a search on Well Fargo threads, and see all of them)
Spend those 2 hours, and post any specific questions that come to mind.
Stay focussed and keep on the track you are on.

[heidi79]

Executive Team 1-800-853-8516
Try contacting them, they have been helpful to may members in giving better information and expediting the process, much patience is needed on this, best wishes!

[davephx]

Well now with Wells delay do not meet the requirment that you have to prove still have 9 months of unemployment left.

If Wells was really trying to help delay might mean trying to get an exception thru Fannie... But issue may be back six months ago would you be able to verify your unemployment would continue for 9 months... even though now we know it will.

As many have pointed out HAMP is not designed to respond to the unemployment crisis, when it was passed it was a sub prime mortgage crisis that it was designed for.

Treasury has tried to make it easier setting up system to verify 9 month rule but in some states they will not approve for that long in advance.

Hopefully this might be something to be addressed in the upcoming announcement by Admin that is suppose to be Monday. Wait to Monday before contacting anyone to see if anything is dealt with on UI.

But just like the no enforcement problem I am not sure what Treasury/Admin can do without going back to Congress. Not sure if the 9 month requirement is in the law itself or HAMPadmin decision.

[californiadreamer2000]

Are there any recent WF mod success stories... it seems that fewer are getting approved either under HAMP or whatever program!

[Hossar]

Thanks for all your help and advice. Heidi, I'll try giving them a call here today or Monday. Still no word from WF on any status :\

[emd09]

Thanks for all your help and advice. Heidi, I'll try giving them a call here today or Monday. Still no word from WF on any status :\

We have been working on our HAMP mod since Feb/Mar. and just finally got permanent mod approved mid Nov.

I would also try to check the mod status at the link below...
https://www.wellsfargo.com/jump/mortgage/assist

[Hossar]

Thanks, I've been watching that Assist website for a while now and there hasn't been any changes on my status for several months.

UPDATE: I just received a letter from Wells Fargo stating that my loan is in default and unless payments on my loan can be brought current by Jan 05, they will accelerate my Mortgage Note and take steps to terminate my ownership...

Is this common for the modification process??? Is this only because mine is taking so long? Is there anything I can do about this? Should this be something I should be worried about? I don't understand why they are sending me this if they know, and continue to tell me to only pay the "Reduced Trial Payment Amount".

[yomann]

That letter is from the Collections side of the house.
I would call the number on the letter to let them know you are actively in consideration for a loan mod.
Would also call Loss Mitigation, the folks that work on mods, and ask if everything is proceeding on track, and ask why you received the letter ?
This is left hand / right hand in un-coordinated play

[davephx]

Many servicers are sadly going ahead with the States required notification for foreclosures. Most interrupt HAMP only to mean they can't do a foreclosure sale while on trial. But they can deny and sell the next day which is what is so terrible.

And we have had cases reported here where people were on trials and the banks "accidentally" sold since the foreclosure dept often doesn't know what loss mit is doing.

[Hossar]

Geeze, it sounds like everyone is on the same page here... Thanks, calling now!

[Hossar]

Well I called WF (the number on the back of the letter) and just got done searching through the forums but didn't quite find what I was looking for.

He said ignore the letter since I'm working with Loss Mitigation, but the odd thing is that I asked him if there was a specific negotiator assigned to my case, he looked and said that there was no negotiators name, but in place it says "HAMP Approved". He said that generally means its been approved, but he sounded kind of confused and seemed like he wasn't quite sure. Anyone know what that means when the negotiators name has been taken out?

[californiadreamer2000]

hello hossar-
is there an update w/ you... curious?

[kbutterfly27]

Hi to all of you.

I am new to this forum. I am sorry for all of the hardships that each of you are going through, but thankful for this great forum. My husband and I started having trouble 12/2008. We were behind one payment as of 1/2009. My husband's business took a huge blow when the economy started going down. Anyway, we started applying for a loan modification probably in Feb 2009. We got all the paperwork together and faxed everything and a few months later we were denied. So being pregnant I felt panicked and immediately had my husband start applying again. We finally after sending in repeated paperwork and a 2389.76 payment for all loan modification costs and fees were set up on a trial in August. Our payments went from 2134.76 to 1634.00. We were ecstatic and I was literally so happy and relieved that I could have cried. Our payments were to begin October 1st and end December 1st. We paid all of the payments on time and fulfilled all of our obligations. My husband called repeatedly to make sure they had everything and we were told yes. Well, 12/06/2009 we got a notice that if they do not receive late balance of $10000 something by 1/20/2009 they will accelerate the loan. When my husband called they said that is standard and that they cannot foreclose while we are in the modification program. Then 12/09/2009 we got a paper stating that we were preapproved for the modification program and that our packet would arrive in the next few days with our modification agreement and that a Titanium rep would help us to fill it out. We were to meet her 12/28. She told my husband that if he had not gotten the packet she could print it. My husband called her Monday am. THen he called at dinner. Then he got through to her finally after dinner. She said she did not call because his work order had been pulled. Wells Fargo said they had just jumped the gun and that our packet was not ready yet it would be 2-3 weeks. How can that be if the Titanium lady said she could print if off? Do you think we are getting a run around? We have the trial agreement and all of our paperwork. Where do we go from here? I did email all of the executives to see if anyone could give us answers. We love our home and want to keep it. Any suggestions? Thanks so much for listening and for all of the invaluable insight.