Wachovia approved me for mod on 9/08/10 the doc's were drawn on 9/13/10..
The doc's were sent 9/15/10 it's 9/22 Still didn't get papers yet....Lucky enough to get a rep that decided to FAX them to me....
One question....there's no place to notarize...but next to my name its says seal...does that mean I need to notarize it?
I believe that is where it should be notarized, but I would call in just to verify it. A couple members here recently had their permanent mods canceled because they got the paperwork notarized when they said it should not be.. This is strange and I have not seen it happen until then.
Congrats on the mod Wizzy!! How are the terms?
Keep Fighting!
Evan Bedard
LoanSafe.org Support Team
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Wizzy, Just returned my GMAC perm mod papers back and had the same issue. Had several places with the word seal and line above them. Would have assumed they were for the notary, but called GMAC and was instructed to not have them notarized.
I was told to not have mine notarized but mine even say (seal) after the line I signed on.
Sorry to go off topic, but I don't know how to send a direct message to ******.
Is the MA lawsuit against Wells Fargo still going? ******, you mentioned an Oregon attorney who is working on piggybacking onto it. I am in Oregon and would appreciate the name if you can give it to me. Thanks.
The atty in Oregon decided not to proceed. He said the partners were not interested. I guess not enough profit. What is the problem you are having with Wells Fargo?
They are doing the same thing as I have been reading from others. They put us in review for HAMP 2 years ago. It took almost a year to get the decision (which was denial) during which they told us to keep making trial payments. The difference between the trial payments and our regular payments added up and we owed $25k when we were denied. So we ended up in foreclosure. Now we are at least trying to modify the loan and put the amount we owe on the back of the loan so we can keep making payments and keep our house. When in foreclosure, Wells Fargo won't even let you make payments. I have been sending in full payments for the past year and each month I get a check back from them for the same amount. The rep from Well Fargo had the nerve to tell me yesterday that I'm about to be charged $90 for late payment fee for this month...when they won't even accept payment. I might have to get my own lawyer on this one.
was told no notary needed....They Finally sent the docs....thats due on the 28th...
Anyhow I emailed my underwriter and he advised me to sign the original docs and overnight them back..... so If its Friday they won't get it until the 27th Monday...just barely making it..
I can't seem to get pass that I didn't get the docs untill now...
Does the banks want us to fail....?
Our papers were similar - with a seal but no space for a notary. We didn't have to have it notarized.
Congrats Wizzy ! happy to hear you finally got the perm docs. I was told (later) I did not need to have them notarized.
Rule is if there is no "provision" on the doc for a notary they do not require it.
Wizzy, are you also doing a mod for your 2nd with wach? 2MP?
Anybody? what are the terms supposed to be for 2MP? they told me they are sending trial ppr wrk.
Thanx Noganav.... As fat as my second that was charged off a long time ago... They never make any reference to it... I may file bk to get rid of it
Wizzy, wow, that in very interesting. was your 2nd with wach? mine 55k
Also, I have heard if they mod the 1st (hamp) they are "required" to mod the 2nd.
Just wondering what kind of deal they will offer, pref to pay a lump sum % and have it extinguished.
Yes mine was with wachovia... 50k
I'm not familiar with the 2mp but I've read here that some banks will settle for up to 10% of the loan.. So I would definitely try... But if you are current on the 2nd I doubt they would be willing to settle...
The credit company that now owns this unsecured debt of mine will never get 1 penny from me...
If they modify the second under HAMP, the terms are suppose to be the same as for your first that was modified under HAMP. If you got 2% for the first 5 yrs on the first, it will be the same for the second. Same rate, same term.
Thanks ******, they sent the ppr work for the trial and the trial payments are almost exactly the same as my current payment.
These elocs are horrible since you never make any headway if making min payments. at 50k it will take ALONG time to pay off at
$140 per month. I was hoping for a settlement offer from them.
Any advice on best strategy for getting them to settle? also if 1st is modded under hamp and you sign the mod papers for the 2nd to be modded under hamp and you stop paying the 2nd will it affect the 1st hamp mod. compared to never modifiying the 2nd?
I am wondering if its best since the 1st is already modified, to stop paying on the 2nd till they are willing to settle?
Also my interest on the 50 k right now is down around 3.25% anyway, if they bring it back up to 4.5 in 8 yrs like my 1st mod does, that may be higher than my current rate. The 2% for 5 yrs would drop it a little. but not after. There may also be a due date on the 2nd I am not sure. its an eloc.
My 2nd is interest only for a few more years at a floating rate. As soon as I get my perm mod papers back signed by the bank, I am going to file a ch13 bk. I prefer to do a ch7, but owe $43k on the second. I am going to ask them if they will accept a reduced amount in return for me going with a ch7. I do not like the idea of court supervision for several years, as there are things I could be doing, like collecting early retirement from a place I worked at years ago. I can collect about $500 a month now, or wait and get double when(if) I hit 65. I would be able to put that money to work but worry that the court will just increase whatever my payments would be under a 13.
Seems like bk is one way to get them to settle. A friend of mine was current on his second and while they were modding his 1st they offered a settlement of 4k on 40k to extinguish FM loan. Every lender may be different and the timing of the economy and LTV likely plays into it.
Once you have a 1st modified and final docs signed, is there any chance they can come back later if unemployed, or failing on the 2nd and
pull the modded first?
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