They Cancelled my Loan Mod- Please read

[hamlinresident]

Hi all,

So I've been working on this Hamp thing since the beginning of the year. My loan processor has asked for additional info and I've been getting it back to her ASAP, until now. She requested a stamped IRS copy of my returns....this could take up to 60 days according to the IRS. Her letter requesting the stamped returns was delivered to my house on a Friday and I was out of town so I didn't get it until Monday. I immediately mailed in the IRS form requesting the stamped forms and paying the $57 fee. I then wrote a letter to my loan processor asking for more time and including the IRS form along with where it says it could take up to 60 days. Her deadline have me 15 days from the day she wrote the letter and 10 days from when I actually got home to read the letter. It is not past the deadline and I can't login to wells fargo to check my status. I've been calling my loan processor all week and can't get her. I called just a general # to ASC and they told me the loan modification had been cancelled and I will be receiving a letter soon. What do I do now? Someone who knows the rules, please help. This is not right. I've read of this happening, but I guess I just didn't really think it'd happen to me b/c things were going so smooth. Should I write a letter to my attorney general and the people higher up in Wells Fargo? Can I reapply for HAMP? Thank you for any advice.

[Maurice Bedard]

Hello and I am sorry to hear about your HAMP run around, but not surprised. This happens all the time. Yes, you can ask to reapply.

HAMP is not a law and there are no repercussions if they fail to follow HAMP guidelines. So, all you can really do is ask that they place you on an in house loan mod program or you can try calling the HOPE hotline, 888-995-HOPE and complain to the counselors who "may" try and see if they can step in for you.

Just keep your head up and do not take no for an answer. Loan Modification success always comes down to patience, persistence and a lot of luck.

[BuriedinAZ]

After 16 months, we were "approved" by ASC for our Mod. After making 3 trial payments, they required our financials one last time before making the MOD permenant. They DENIED us! And we were then offered a HIGHER monthly payment to get us caught up on the amount in the rears. Had I been smart, or had I known about this forum back then ( about 1 year ago) I would have started my walk right then and there. Instead, I paid the amount past due (about 8K ) in one lump sum to be current again. Now, one year later we are 90 days late and anxiously awaiting a NOD and a Trustee Sale Date. DO NOT trust the bank. I did and got BURNED! Good Luck.

[LT2SS]

Hello BURIED IN AZ : sorry to hear about your loan deal sounds like maybe I should think twice I was never late on payments gottalked into this mod by a phone call from some clown long story short he said pay him not the mortgage this is a investment home my son and grandbabies live in bought it when y mom passed in 2006 now Im 12.000 back and woundering if I should just pay the back due and just carry on they say its under reveiw oh I was denied for the 1st one what ever that was now there trying for a fanny may? whats your thoughts we are org. owners of this home 56 yrs lots of memorys, so its hard for me to do any help ? thanks

[BuriedinAZ]

Hello BURIED IN AZ : sorry to hear about your loan deal sounds like maybe I should think twice I was never late on payments gottalked into this mod by a phone call from some clown long story short he said pay him not the mortgage this is a investment home my son and grandbabies live in bought it when y mom passed in 2006 now Im 12.000 back and woundering if I should just pay the back due and just carry on they say its under reveiw oh I was denied for the 1st one what ever that was now there trying for a fanny may? whats your thoughts we are org. owners of this home 56 yrs lots of memorys, so its hard for me to do any help ? thanks

Nice choice of cars LT2SS! The BIG mistake I made was to pay that 8K back in one lump sum. If I could do it over again, I would have started my walk right then and there. Instead, they got 8000.00 from me, and I'm still walking. I've come to the conclusion that if you pay the amount in the rears back, they will come to the conclusion that you are not in hardship, and therefore do not qualify for a mod.

What concerns me is your statement where they said, "pay us, not the mortgage company". That sounds fishy tome. Please be careful of scammers out there preying on people in distress. Good Luck!