I Need Hamp Advice

Sapper

LoanSafe Member
Apr 16, 2014
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0
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Ok, I'm new to this forum. I've read some hilarious experiences from those seeking to stay in their homes as long as possible mortgage free. I too am about to meet with a mediator to deal with this loan mod program. I have a lawyer who will be there with me. I have been in my home without paying a mortgage for about 1.5 years. A family member underwent some serious surgery and of course the medical bills followed to the point that we filed bankruptcy. My goal is to continue living in the home mortgage free for about another 1.5 years to save cash. Can anyone please share a strategy on what to do. Living in Washington State.

Thank you
 

bigfrog

LoanSafe Member
Aug 31, 2011
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hello.. your situation isn't clear. But whatever you had been doing, seemed to work for 1.5 years, just keep doing it. Plus you got a lawyer. What other people have been doing is keep on sending loan mod applications, specially to for HAMP.. just turn in enough to keep the cycle to start, but not enough to qualify.., like not including something and turning it in at a late later time.. when that's all used up, start applying for short sale applications, just don't provide or sign all necessaries once again. then again with loan mod....just alter between them.. one can easily stay in a house for 4-5years without a sweat.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
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San Diego, California
www.LoanSafe.org
Hello Sapper,

Bigfrog has sound advice, this can easily help delay the foreclosure process and buy you many more months in the property rent free. You may want to jump on the HAMPster Wheel.

http://www.loansafe.org/forum/threads/the-hampster-wheel-game.39091/

How to Play The HAMPster Wheel Game

Here's how a borrower plays. The homeowner has already decided to walk, but wants to stay rent/mortgage free for as long as possible. So the homeowner, even knowingly not qualified, submits the HAMP RMA package to the loan servicer. It’s important to note that the homeowner doesn’t need to get permission from the loan servicer to submit the mod app. Some members espouse sending an incomplete package because of the increased delay factor. However, be that as it may, the loan servicer will take some time to conclude the homeowner does not qualify and issue a denial letter. During the time the loan mod application is under review, the loan servicer is not supposed to initiate foreclosure proceedings, per MHA guidelines.
 

Sapper

LoanSafe Member
Apr 16, 2014
5
0
1
57
hello.. your situation isn't clear. But whatever you had been doing, seemed to work for 1.5 years, just keep doing it. Plus you got a lawyer. What other people have been doing is keep on sending loan mod applications, specially to for HAMP.. just turn in enough to keep the cycle to start, but not enough to qualify.., like not including something and turning it in at a late later time.. when that's all used up, start applying for short sale applications, just don't provide or sign all necessaries once again. then again with loan mod....just alter between them.. one can easily stay in a house for 4-5years without a sweat.
Thanks Bigfrog
The bank is Nationstar and they asked for pay stubs and bank statements which I provided. They pushed the foreclosure date to June because of the mediation postponement due to needing more documents. Mediation is in a few days.
 

Sapper

LoanSafe Member
Apr 16, 2014
5
0
1
57
Hello Sapper,

Bigfrog has sound advice, this can easily help delay the foreclosure process and buy you many more months in the property rent free. You may want to jump on the HAMPster Wheel.

http://www.loansafe.org/forum/threads/the-hampster-wheel-game.39091/

How to Play The HAMPster Wheel Game

Here's how a borrower plays. The homeowner has already decided to walk, but wants to stay rent/mortgage free for as long as possible. So the homeowner, even knowingly not qualified, submits the HAMP RMA package to the loan servicer. It’s important to note that the homeowner doesn’t need to get permission from the loan servicer to submit the mod app. Some members espouse sending an incomplete package because of the increased delay factor. However, be that as it may, the loan servicer will take some time to conclude the homeowner does not qualify and issue a denial letter. During the time the loan mod application is under review, the loan servicer is not supposed to initiate foreclosure proceedings, per MHA guidelines.
Than you Evan