Washington State Denied Modification

WashingtonSkyy

LoanSafe Member
Aug 3, 2014
38
2
8
31
I will be looking into calling them for sure in the next few days. I want to try to extend this as long as possible, or be able to keep the home. Thank you again. I'll keep you posted.
 

WashingtonSkyy

LoanSafe Member
Aug 3, 2014
38
2
8
31
Finally received notice of when the sale date would be and it is May 29th, 2015. I still have a few moths, and recently asked for a promotion, and got much more than I expected. Before, whereas I was making barely enough to cover the mortgage payment, I now make double the amount of my mortgage, some months 3x the amount of it. I don't see any reason for them to deny my modification this time. If they do, what else could I do to fight it? I made the same amount of money when they initially approved me for the loan, so I don't see why it should be an issue this time.
 

snapple candy

LoanSafe Member
Feb 25, 2009
1,900
13
38
Finally received notice of when the sale date would be and it is May 29th, 2015. I still have a few moths, and recently asked for a promotion, and got much more than I expected. Before, whereas I was making barely enough to cover the mortgage payment, I now make double the amount of my mortgage, some months 3x the amount of it. I don't see any reason for them to deny my modification this time. If they do, what else could I do to fight it? I made the same amount of money when they initially approved me for the loan, so I don't see why it should be an issue this time.
Washington Sky,

Did you ever get any mailings that offered you to participate in Washington's foreclosure mediation program? If not, you may have a case to delay this sale. Legally they have to offer you mediation before they can start foreclosure proceedings. If you did receive info on participating in the mediation program and didn't respond by due dates, you will have lost your right to participate. It is important to start here as it gives you a heck of alot of strength to combat this.

If you ignored the mediation participation notices, I suggest you get new mod app papers in ASAP and/or get a consult with an attorney who specializes in foreclosure prevention. Attorney may have some delay tactics he can use but you are pretty far along int he process to stop this train.

Hope that helps
Snapple
 

WashingtonSkyy

LoanSafe Member
Aug 3, 2014
38
2
8
31
I reapplied for the modification, they suspended the foreclosure, and not even a few days later they approved me for the FHA Home Affordable modification. It's lowered my payment by $300 a month, and apparently says that the amount I owed (almost $40,000) will be put into an interest free loan, that doesn't need to be paid until I sell my house or have paid off the loan. Unsure what to think of that, but just feeling grateful that Chase is wanting to work with me.
 
I reapplied for the modification, they suspended the foreclosure, and not even a few days later they approved me for the FHA Home Affordable modification. It's lowered my payment by $300 a month, and apparently says that the amount I owed (almost $40,000) will be put into an interest free loan, that doesn't need to be paid until I sell my house or have paid off the loan. Unsure what to think of that, but just feeling grateful that Chase is wanting to work with me.
That is nearly exactly what happened to me except not FHA and I already had a 2nd mtg which was no payment due until loan paid off or house sold but for $30K. Are you going to take the deal? Deal or No Deal? haha. Mine went down $300 per a streamlined modification. I've been making my trial payments and hope to get it finalized once I complete all 3.
 

wanda robo

LoanSafe Member
Sep 29, 2012
3,940
634
113
NJ
I reapplied for the modification, they suspended the foreclosure, and not even a few days later they approved me for the FHA Home Affordable modification. It's lowered my payment by $300 a month, and apparently says that the amount I owed (almost $40,000) will be put into an interest free loan, that doesn't need to be paid until I sell my house or have paid off the loan. Unsure what to think of that, but just feeling grateful that Chase is wanting to work with me.


Congratulations! Take the deal & move on. Life's too short & your too young to go through anymore BS. See, you started your own thread & things turned around, LOL. Took almost a year, but they turned around:)
 

snapple candy

LoanSafe Member
Feb 25, 2009
1,900
13
38
I reapplied for the modification, they suspended the foreclosure, and not even a few days later they approved me for the FHA Home Affordable modification. It's lowered my payment by $300 a month, and apparently says that the amount I owed (almost $40,000) will be put into an interest free loan, that doesn't need to be paid until I sell my house or have paid off the loan. Unsure what to think of that, but just feeling grateful that Chase is wanting to work with me.
Wonderful Washington Sky. Congrats on finally getting a loan modification!!!!
 

WashingtonSkyy

LoanSafe Member
Aug 3, 2014
38
2
8
31
Thanks guys! Figured I'd reply back and let you all know that everything went well. Made the trial payments on time, even got to skip two payments while they got everything squared away. Everything is great now. Hoping I don't have to play the game again but who knows. Maybe I'll want to!
 
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WashingtonSkyy

LoanSafe Member
Aug 3, 2014
38
2
8
31
Hey everyone! Been a couple years but wanted to let everyone know that we were able to keep the house and everything went well for several years. Had another baby, realized the house was a little too small for 4 and we had accrued a bunch of debt from that unemployment spurt I had, and the low income so we decide to sell the house.

We purchased it in 2011 for around 220k sold it in September of 2017 and it sold for over 340k! We made about 120k off it but had to pay that 60k that was held up for the foreclosure, along with aboit 50k on misc debt. But now debt free, building another home after we spent a couple months repairing our credit.

Reflecting on all of this, I'm glad I was able to keep the home playing the game (18 to 24 months? I even remember how long) I wish I would have gotten a modification sooner to avoid having to pay all the legal fees after we sold the house, but. Life! Thank you everyone for all the help through that long process.

Play long!

Edit : it was actually almost 3 years! Wow! I played the game for 20 months without knowing it until I came to this site and was able to play even longer!