The HAMPster Wheel Game

freedomwon

LoanSafe Member
Oct 30, 2010
2,794
23
38
California
CA
5 Months

Just sent in the 5 additional requested documents yesterday (3 of which were "missing" in the first submission even though I did include them). Now I keep waiting.

Bye the Way... I've reached my goal. No NOD yet means that I'll be in my house until at least August!

Exhausted - Is there any way you can appeal the denial of HAMP? I know some people have gotten 30 days to appeal. Anything like that in the paperwork?
Yes, you can appeal the denial of HAMP within 30 days. I did just that on day 28. Seems my file has been escalated & now it's gone to yet another department. Who knows where it is now. I've received several letters from the bank telling me a special team is looking into my case. (I guess I'm supposed to feel important now). Too funny!

Bank received my appeal on Jan 28th, still no update nor have I received the information I requested. But hey, I bought myself a couple more months by appealing. I asked for all the input figures & a copy of the loan disposition report that they surely sent over to the investor. (Yeah, right). Chances are good they lost it or never even ran the figures to begin with. I was certain to send my appeal to both the servicer & investor.

Just going for a spin on my HAMPSTER wheel. Speaking of going for a spin............DELL1I'd love to go on a road trip in your new wheels! Does it come equipped with passenger side airbags? Just in case you get a little out of control?
 

exhausted3

LoanSafe Member
Mar 5, 2011
127
0
0
Curious....my delinquency on my first has yet to be reported to the credit bureaus....WHY I wondered...second closed my account online and has reported it....HOWEVER when I go online to "view my statements" for the first it still shows me being current (although last payment was made in October) and yet it won't let me access each month individually...

Does this make an ounce of sense to anybody out there?

They are trying to get me to do an in house mod which I won't...
 

Strategic_Default

LoanSafe Member
Oct 10, 2010
536
7
0
Rancho Cordova, cA
I just got a denial letter for HAMP! Damn! I wanted to stall a lot longer. And I just sent in the additional requested documents the day after the letter is dated.

I am, of course, going to appeal in 30 days in an attempt to stay on the Wheel. Any advice on how to go about the appeal? My wife is on maternity leave now so we have a change in income. Will that be enough to send it through all over again?
 

Strategic_Default

LoanSafe Member
Oct 10, 2010
536
7
0
Rancho Cordova, cA
I just got a denial letter for HAMP! Damn! I wanted to stall a lot longer. And I just sent in the additional requested documents the day after the letter is dated.

I am, of course, going to appeal in 30 days in an attempt to stay on the Wheel. Any advice on how to go about the appeal? My wife is on maternity leave now so we have a change in income. Will that be enough to send it through all over again?
 

SurfwhenUcan

LoanSafe Member
Apr 23, 2010
1,766
11
0
Sunny San Diego
I just got a denial letter for HAMP! Damn! I wanted to stall a lot longer. And I just sent in the additional requested documents the day after the letter is dated.

I am, of course, going to appeal in 30 days in an attempt to stay on the Wheel. Any advice on how to go about the appeal? My wife is on maternity leave now so we have a change in income. Will that be enough to send it through all over again?
You've got the right idea - find out the reason for the denial and that will provide clues as to whether and how to fight it on the mod or shift to phase 2 and shortsale.
 

freedomwon

LoanSafe Member
Oct 30, 2010
2,794
23
38
California
I just got a denial letter for HAMP! Damn! I wanted to stall a lot longer. And I just sent in the additional requested documents the day after the letter is dated.

I am, of course, going to appeal in 30 days in an attempt to stay on the Wheel. Any advice on how to go about the appeal? My wife is on maternity leave now so we have a change in income. Will that be enough to send it through all over again?
Keep your eye on the prize. The goal is to buy yourself as much time as possible. First appeal their HAMP denial just prior to the 30 days. It may take them 30 days to get back to you. So now you've just bought an additional 60 days. Then at that point you can let them know there's been a change in income & re-apply again. I appealed on Jan 28th & I still don't have an answer. (But in my case, I'm pretty sure they never even ran my numbers). My file is getting passed from one department to another.

Be sure to appeal in writing / snail mail / registered receipt / signature required. Send the appeal letter to both the servicer & investor. Here's a copy of the letter I sent:

HAMP APPEAL

x/xx/xx

HRD Mailroom
BAC Home Loan Servicing, LP
TX2-977-01-36
5401 N. Beach Street
Ft. Worth, TX. 76137

Cc: Bank of New York
101 Barclay Street - 4W
New York, NY. 10286


Re: Loan Number: xxxxxxxxx

To: BAC Home Loan Servicing, LP

I am in receipt of your recent correspondence dated December 28th, I was denied for HAMP back on March 10, 2010. Your delayed denial notification is clearly a violation of HAMP directives.

NPV Test makes a great deal of sense to "justify" to the investor (BONY) that the original contract should be modified for THEIR best interest (which also benefits the homeowner). Please provide documentation from the investor (BONY) showing they have declined me for HAMP due to Negative NPV. I am certain I met all the basic guidelines of HAMP & my home is severely underwater. It has come to my attention that BofA is not following the HAMP directives for which they signed participation agreements and not properly inputting the NPV factors resulting in false results not to modify. All available NPV inputs referenced in your letter dated 12/28/10 have no values assigned.

I’m confident if you look at the loan disposition report you ran back in March, clearly it shows the investor (BONY) will come out on top by modifying the loan. Please send me a copy of this report in addition to all the NPV inputs within 30 days of the date of this letter.

Sincerely,


xxxxxxxxxxxxx
 
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WalkTheWalk

LoanSafe Member
Mar 15, 2011
26
0
0
I so wanna play this game, but can't. Our loan is over $729k. We'll still apply to buy us some time, but we can't re-apply or appeal, so we're missing out on that fun.

Instead, we'll just apply for an in-house loan mod following the HAMP denial. Then we'll try to find an agent to "work" with us on a SS. After that, we'll have exhausted our bag of tricks, unless the government comes up with something new.
 

capote203

LoanSafe Member
Jan 29, 2010
551
3
18
California
I so wanna play this game, but can't. Our loan is over $729k. We'll still apply to buy us some time, but we can't re-apply or appeal, so we're missing out on that fun.

Instead, we'll just apply for an in-house loan mod following the HAMP denial. Then we'll try to find an agent to "work" with us on a SS. After that, we'll have exhausted our bag of tricks, unless the government comes up with something new.
WalkTheWalk - I too have a loan over 729K. You can appeal an in-house decline . I was declined in Sep/09, and appealed it through the customer advocacy dept. It took until Mar/10 for them to finish investigating. You can re-apply as well, if anything has changed with your situation.
 

espo1357

LoanSafe Member
Mar 1, 2010
177
3
0
How often do you think the bankers frequent this site?

They definitely do!

Not sure if this was added but, I like the idea of just calling them and telling them that I am going to make a triple payment on X date to cure any back payments.

My game has only begun, but I like my chances for a strong finish.
 

SurfwhenUcan

LoanSafe Member
Apr 23, 2010
1,766
11
0
Sunny San Diego
I so wanna play this game, but can't. Our loan is over $729k. We'll still apply to buy us some time, but we can't re-apply or appeal, so we're missing out on that fun.

Instead, we'll just apply for an in-house loan mod following the HAMP denial. Then we'll try to find an agent to "work" with us on a SS. After that, we'll have exhausted our bag of tricks, unless the government comes up with something new.
I agree with Capote, this is not a HAMP-specific game. I've played it looonnngggg after a HAMP denial several times. In fact, HAMP denial is part of the game. The size of your loan makes it attractive to the bank to let you try to short sell so if you haver to move to Phase 2, you might get to be there for a while before they get antzy.
 

Upside

LoanSafe Member
Dec 7, 2009
266
5
0
US Treasury Response

SEND YOUR COMPLAINTS LETTERS!!!!

After many complaint letters to my AG, FDIC, Congressional Oversight, OOC...I have received a call from a US Treasury representative named Robin. She claimed that the US Treasury is working with HampAdmin but Robin works out of Dallas.

The Phone number is 866-939-4469 opt 2. FAX number is 240-699-3883

Her findings from a Chase Representative was that I have been non-compliant in sending the required paperwork, hmmmmmmmm, my complaint letter specifically reported that I keep sending paperwork and never get past the request for more paperwork. So, patronizing Robin I suggested I send her the documents so that she would have them and she would then be able to send them to Chase. 68 pages were faxed to the 240 number tonight. I will attempt to reach Robin in the am to find out if she got the fax documents....Robin will soon be joining me on the Wheel :)
 
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airahcaz

LoanSafe Member
Sep 18, 2010
302
2
18
NJ
If one accepts a HAMP modification after the 3 trials and it became modified last year, and then stops paying, can one get back on the wheel and attempt another?
 

ajcalc

LoanSafe Member
May 25, 2010
5
0
0
Looking for guidance from the experts on how to keep the wheel in motion

in AZ
Stopped paying in July of 2010
Home was scheduled to be sold in a Trustee sale in late March
Chase postponed the trustee sale for 1 month since we were actively working on a mod
Mod docs arrived yesterday, lowering my payments $71
My fist payment is due by 05.01.2011

Any advice on how to proceed so I can keep the wheel moving?

Thx
 

DELL1

LoanSafe Member
Aug 4, 2010
391
5
0
Looking for guidance from the experts on how to keep the wheel in motion

in AZ
Stopped paying in July of 2010
Home was scheduled to be sold in a Trustee sale in late March
Chase postponed the trustee sale for 1 month since we were actively working on a mod
Mod docs arrived yesterday, lowering my payments $71
My fist payment is due by 05.01.2011

Any advice on how to proceed so I can keep the wheel moving?

Thx
The Wheel keeps moving towards its objective of selling your house.

You need to decide if you want to exit the WHEEL by letting that happen, staying in the Wheel and continue trying to get the cheese, or stay in the Wheel and play the Game. What is your ultimate objective?
 

ajcalc

LoanSafe Member
May 25, 2010
5
0
0
Dell1

I want to stay in the Wheel and Play the Game!!!!!!!!!!!!

I decided long ago what my end game was - and was thrilled when this thread started last week

The Wheel is my home now

Thx
 

acesfull

LoanSafe Member
Nov 5, 2008
2,216
110
63
NEW JERSEY
Hi Wheel Game Players.

I received the green CMRRR form today in the mail. So AHMSI received my In-house mod request and my HAMP request.
I sent the in house mod request to Jean Drake and I sent the bogus HAMP documents to The HAMP processing dept. So the wheel is in motion and moving along. How long should I wait before I call AHMSI to see where my documents are SITTING.. My hope is that they sit on some clerks desk for another 2 months. LOL wheel thinking.

A side note.. Part of my wheel game plan is to temporary pit the Hamp Mod department against the IN - House mod department.
I.E. When I call either mod department or they call me which ever. I will say oh I spoke with so and so in such and such department and they told me to do it this way an so an so told me to send it to this address.
Oh Mr. or Mrs MOD person, could you please check into this for me? I am confused. Should I send anymore doc's or anything? Please I want to get to the bottom of this mess. Why would someone in another department tell me one thing and your department another thing.
Please help me get this correct, sir or madam, my home is at stake here. I just want to start making Payments. LOL NOT.

So the game starts. Let the confusion begin.

Thanks everyone.

NJ- 5 months
acesfull
 

exhausted3

LoanSafe Member
Mar 5, 2011
127
0
0
a bit confused...if i get a HAMP denial letter the next step is immediate foreclosure unless i send in a letter asking for a reason as to why i was denied? how long after being denied to they wait to pounce?
 

espo1357

LoanSafe Member
Mar 1, 2010
177
3
0
a bit confused...if i get a HAMP denial letter the next step is immediate foreclosure unless i send in a letter asking for a reason as to why i was denied? how long after being denied to they wait to pounce?
Why is it immediate foreclosure? Are you in a foreclosure now? What are you trying to accomplish with the property?
 

exhausted3

LoanSafe Member
Mar 5, 2011
127
0
0
not in foreclosure, just read StrategicDefault's post and it seemed to me he felt he was off the wheel if he was denied HAMP...I have been offered in house and think its a scam and feel my next step is to discover why denied HAMP...already know it's because I am self employeed...