Making Home Affordable Plan Expected to Help 4-5 Million Homeowners Refinance

I feel your pain, all of you. I was fortunate enough to find a company that is legitimate. Now I know that the banks the news and government say we shouldn’t go to any company that charges, that the banks will modify your loans for free. Well, how many of us on here have had our loans modified by the banks?

A lot have lost their homes, and lot more still will unless you do what’s necessary to save your homes from the banks. I went through what most of you have, I was there. Then I was referred to Corey Lassiter of Clear Image Financial Group. They saved my home.

I know I would have lost it to Wachovia if it wasn’t for him, Tasha, Denise and the rest of the people who work there. Got me caught up on my mortgage 1st & 2nd, lowered my interested rate & payment, and secured me a 50k principle reduction.

Before anyone else on here loses their homes you need to give them a call 877-940-1477 ext 231. Corey Lassiter. Don’t be afraid of hiring a loan modification company, be afraid of the banks, they are the ones who are taking our homes!

I know they get the job done. News and TV made me afraid to even consider a loan modification company because they are all scams and my lender will do it for free (wrong). There hasn’t been not one story about a good company and when I tried to contact my local news channel they told me that my success story wasn’t news (What!)

So, I am making it my mission to spread the word on this GREAT company!

I would think that if the people who start these forums and blogs were really trying to help that they’d do research to find credible companies that can help us out when we have run out of options. So this thread here is for eveyone to post info on companies (loan modification, lawyers, non-profits) who have been able to help you save your home!

WHAT IDAIAH SAYS IS TRUCE I BATTELD WITH US BANK FOR A YEAR FOR MHA PLAN OR A MODICICATION BY THIS TIME WE WERE 6 MO BEHIND ON PAYMENTS WE RAN INTO A BRICK WALL AT EVERY TURN FINALLY I CONTACTED FREDDIE MAC THE OWNER OF OUR MORTAGE AND THEY SET US UP WITH A DEBIT CONSULTANT THEY WORK WITH US TO MODIFY OUR LOAN BUT THE BAD PART IS THAT NOW INSTEAD OF HAVEING 15 YRS TO GO ON OUR LOAN THEY ADDED 30 MNORE YEARS ON TO IT WE HAD TO CHOICE BUT TO COMPLY BECAUSE WE WERE SO FAR BEHIND THEY DID REDUCE OUR PAYYMENT FROM 1139 TO 777 A MONTH BUT WE WILL GET SCREWED IN THE END UNLES WE CAN PAY OFF THE LOAN IN FULL WE CONTACED SEVERAL LOAN MOD COMPANYS BUT LISTEN TO THE RUMORS THAT THEY WILL RIP YOU OFF SO I GUESS WHAT I AM SAYING IS WATCH OUT

Hi folks,

I have an update of my post (Al on December 29, 2009 11:00 pm) as well as good news to report.
Please read my post for the background.

Several weeks after posting this I found an unexpected package on my doorstep.
It was from Wells Fargo and contained my final paperwork for a permanent modification.
You can imagine how shocked we were as there had been no other communication from the mortgage company (or anyone else) since we were informed that we had been denied our modification.
Although, we were skeptical that this was real we filled out the forms, signed & notarized them as requested and returned them in the prepaid overnight envelope that was provided in the package.
About two weeks later we hadn’t heard anything so I called to inquire as to the status & was told that everything was accepted, processed and final.

Our payment is now $808 PIMI per month with a 2% interest rate for five years, 3% for 1 year, 4% for 1 year, 5% for 1 year and 5.125 for years 9-17.

Strange but true so don’t give up hope.

Good luck and bless you all,
Al

spent an hour+ to complete reading the whole discussion. great

Hi Katie: The government program does allow modification for loans with PMI. Bank of America told me they have chosen not to participate in that part of the program. It seems like all of the other banks are willing to participate and Bank of America has chosen not to.

I AM WITH WELLS FARGO AND I AM GOING TO BE APPLING FOR THE MOD PROGRAM

MY HUSBAND DIED IN SEPT 2009 AND MY INCOME IS NOW A LOT LESS.
I AM DRAINING MY SAVINGS EACH MONTH TO TRY AN STAY AHEAD. HOW WILL MY SAVINGS BE LOOKED AT EVEN THOUGHT MY INCOME IS LESS AND MY MORTGAGE PAYMENY IS WAY OVER THE 31%?

Hi applied for home loan modification with Countrywide/ Bank of America back in November 2009. I have not heard back from them, not even a trial period pacage. Every time I call they told me that it’s still in review.
Here is my situation. My monthy income is dropped to 2000/ month. My home mortgage is 1117.50 + 380 in property taxes. all togeather with payment, taxes and insurance is about 1617.00. i am still current on my payments.
Is it possible for them to modify for such high payment with low income ?
What should I do for them to answer any quicker.

thank you in advance for support.

Hi Al,
Congrat’s!! But I have a question on how you got approved.

Back in December when they said you were approved, then you weren’t approved, what did you do from Dec till March? Did you keep making trial payments? Did you stop making payments? What did you do between Dec and now for the Mortgage company to change their mind?

I’m now in the situation you were in back in Dec and I want to make the right steps.

Thanks
Dee

Hi, I have a loan through Washington Federal Savings. My payments are $1,850 a month. I am currently making $2000 a month at my job due to cut hours. Washington Federal did accept bail out money but recently returned it. Am I S.O.L?

To Dee and Al

Dee,I think we in the same situtation, we are not getting our final modification also, and it’s been a year that we are paying the trial payments amount, the difference now are accumulated for $13,900, like Al, we never fall behind, our lender is Chase. Our
hardship was lost of income, as I lost my job in Jan’09, but my husband’s income is enough to pay
the trial payment amount.

We’ve been denied of HAMP program in Dec’09 after 10 months of paying trial payments, but lender told us that they put us on 3 months trial payments(same amount) for in-house modification,we made those trial payments which was due this March, I keep on following up but keep on telling us that is still under review just keep on paying the trial amounts. We are loosing hope and I am scared to death to get the news that with all the efforts we have made we will just get denied again. We don’t have any resources to make our loan current as I am still unemployed, 15 months already, and my unemployment will be exhausted in next two weeks, i am not sure if i will get the 4th extension.

My agent (modification) was keep on telling us to stop making the payments because lender was not listening because we are paying, the longer they delay the more they get their money, that was his explanation to me. I don’t know if i am going to listen to him because i am scared to death not to pay, our lender might start the foreclosure process once I stop making the payments, according to them the difference of trial and actual amount of montly payments is equal to 4 months behind. So, I think they can start the foreclosure process anytime as as I am getting the foreclosure notice every month.

So, Al, should I listen to my agent to stop making
payments, or should continue making the trial payments until I get the final answer from the lender. Dee, what about you, what did you do after the denial? I am very confuse now, please, help us to
understand this modification process as i can’t understand anymore. Your response would be greatly appreciated. I’ve been a blogger here too, I have posted like 4 or 5 times already.

Thank you.

Juliet

To Al,

Thank you for your quick response. Regarding my agent advise. Here is the detailed explanation why
he is advising me to stop making the payments. He
said this was based on mostly his clients who gets the final approval, they are those behind on payments like 3 or 4 mos. and mostly they get the modification after the 4th or 5th month some of them doesn’t get into trial payments scenerio. I believed him because my sister and my friend was a living proof. My sister and my friend just stop making in Sept’09 and in October they filed for modification thru this agent, their hardship explanations was they can not afford the monthly payments anymore. (they didn’t even lost their, they said in their explanation that their hours of work had been cut). She had a second mortgage, both were approved) So, they stop making the payments and didn’t even contacted the back since the beginning of the process until they got the modification, like i told you, she did not even go thru that 3 months trial payments. This agent do the follow ups all through out the process. She got her modification by mid of January, her monthly payments is $780 less than the original, terms 2% for 5yrs, 3%, 3.5%, 4%,& 4.75 fixed for the rest of the 30 yr term. And her second mortgage in a different lender she got 2% fixed for 20 yrs. And her friend got 4.5% fixed for 30 yrs, good enough from her previous rate of 7.2%.

The agent also told me that these are facts and reality, that lenders are not willing to help homeowners who are current and those are not showing the willingness to walk out in their home, they are
already learned from our behavior every time we call
and follow up the status of our modification. I think it make sense now, because everytime I make follow ups, they always asked “are planning to keep your house” “are you applying or planning for bankruptcy”, Things like that,it make sense to me now. That’s why he always advise not to call the lender.

He is my second agent, my first agent walk out on me, as soon I get the denial on HAMP. I hired him
in January when my sister got her modification. He’s
been telling me since then to stop making the trial
payments and stop calling the lender for follow ups. I did not stop the payments and still making follows. He didn’t told but he told my sister that I am so hard headed and does’nt know what to do for me anymore.

What can I do, i am really scared not to make the
payments. Today is end of the month again, I am suppose to make the payments tomorrow April 1st,
Chase had set up my payments by phone (auto past pay)
every 1st of the month. They had set it since the first few months of my trial payments, i was mailing
my payments then but sometimes it won’t reach them
on the first month, one time chase called me that they are not receiving the payments on time and i might be kick out of the modification if keep on doing that, so they set up auto fast pay every month, it is not automatic deduction but i have to call them every first of the month to make the payments.

So, Al, tell me where is the justice system on this
HAMP Program and Help for Homeowners?

Thanks for reading and listening.

Juliet

So, tell me Al, where is the justice system in

Our mortgage is through a small community bank that did not accept the funding from the Obama plan. I have had no trouble making payments until some unforseen medical bills that hit us about 18 months ago. Most of the expenses from the medical and living went onto our credit cards because I was afraid they would not treat me if I did not have the med. bills paid. I have about 20,000.00 in credit debt and a second mortgage on the house. I struggle to make the payments every month. Is there anything that I can do. I know that our credit stinks and that our bank does not participate in the MHA program. I am current on our mortgage but have been late several times. Going to be again soon.

Ellen

My wife and I were facing foreclosure after I was laid off for the second time in less than 12 months. Our mortgage company didn’t want to do anything to help us out and even denied us for a Loan Modification. We had to use a 3rd party in order to receive a loan mod which has worked out GREAT for us and we now have a 2% interest rate!

@ELLEN…

Ellen, If I were you I would get in contact with a gentleman by the name of Chris Garek. You can look him up on facebook or email me and I can get you in contact with him. Chris helped save my home, along with my brother-in-law and his wife.

Citi Mortgage wouldn’t help us and Chris got us an OUTSTANDING DEAL! 2% interest and lowered our monthly payments by 48%! I strongly recommend Chris to anyone needing help. Just because you’ve been turned down before, doesn’t mean he can’t get it done for you. We were turned down twice!

I have a loan with citimortgage. I lost my job and went from $4500 monthly down to $1800/monthly gross pay. My wifes hours were also cut from 35hr down to 20 hours weekly. I applied for helf on citimortgages site because my income/debt ratio was a negative $150/monthly. The counselor incharge of the workout packet talked to me on the phone and asked if I could make 3 regular payments and then he said I could call back in 3 months and then go from there, I told him that I cannot afford the regular payments because of the debt ratio. He then said that I could just walk away from the house and I told him I wanted help in keeping it. He said that he probably couldnt use my unemployment insurance for income, I told him that I am elgible for 12 months of pay under the federal trade act after my unemployment runs out. He says that I cant use that for income and I get the impression that he just wants to close the file and move on. What are some options I have? If I would be able to use the hamp then my 31% pay would reduce my payment down by $225 but he also said that would be to big of a claim to file. Any ideas would help????

Affordable homes are a good idea, interest rate rises not so good.

I’ve been sending and resending documentation to BOA now since november 2009. All I ever get is a run around and and a peomise that this program is legitimate! I have seen absolutely NO proof that it really helps anyone. I have already been through one “Trial Period” of 4 months and after threatening to blow my brains out and leave a big plastic bag of copies I have submitted and a list of some 50 phone calls and promises, 2 cruisers and 2 sheriff’s deputies showed up at my front door wanting to escort me to lock-up! That got me a phone number and my program “escalated”. However, I then received an “agreement” to sign and got put into another “program” and started another new “trial Period” all over again. I now have actual phone numberrs of actual people I can call but I have little faith that it will go anywhere.

By the way, when I now go to my loan “workout information”, it is no longer there and my conventional 15 year 6.25% loan now read 30 years!

Whether any of this is a “mistake” or a purposeful fraudulent attempt to scam “the people”. I was raised to not promise something I couldn’t deliver. My biggest concern is that people who are normally truthful are made toliue over the phone or are given mis-information which they must pass along just to keep their miserable little pay checks coming in.

If anything comes of this futile excercise, I will bew glad to follow-up with that information. Don’t hold your breath and don’t expect much particularly where your “government” is involved!

This is like a drowning man 30 feet off the dock being thrown a life preserver on a fifteen foot rope. Then Obama comes along and states, We met him half way!”

I have wasted several full days getting bounced from one “department” to another “more appropriate department” only to have the line go dead or told I have the wrong office and have to call the “other number” which I have called before and start all over. I have talked to folks in Chicago, Fort Worth, Dallas, & Plano, TX, Simi Valley & Covina, CA, Broomfield, Co. and that’s just from memory.

I also paid athe usual mortgage ampunt during the trial period since I didn’t want to get behind in case this was not “approved”. (I Smelled a rat, thinking they just wanted me to get behind so that they could foreclose.

Hi,

I’m seeking some advice on my situation :

I have Chase as my mortgage company – my loan is Fanny Mae. When I called Chase about Home Affordable Refinance, Chase refinance counselor said I may qualify for the program.

However, I was told there is a problem with my original loan application, that my income was listed as unverified in the application (though submitted income verification). Chase said they can not move on with the refinance application due to that error. They couldn’t give me an answer how I could mitigate the error.

I called Fannie Mae as well, but no luck.

Any advice will be much appreciated.

Thanks
Didar

The Home Affordable Modification Program is an excellent program if you can get through the application! After taking days to read & understand how to fill out & quality for HAMP I was able to lower my interest rate to 2%. The application was so confusing because they want you to fail! Now that I understand how to qualify I was able to help my neighbors get approved usually in about 30 days!

what happened to my post dang it

I actually think it is quite commendable that the US government is doing so much to help with the housing market crisis. It would be great if there were similar initiatives here in the UK, let hope for a smooth recovery for all concerned

dont get sucked in by this make homes affordable program all it does is make your payment go up my parents tryed to get their monthly payment of $1300 a month to go down by any dollar amount but insted it was raised to $3800 a month which they really cant afford together they bring in $2200 a month both retired how is that suppost to help them keep thier home they have lived in for 35 years

We’ve been trying for almost 2 years to get loan modification through BofA – just delays, delays, delays – never anything in writing – although I’ve paid lower payments for 13 months (based on BofA verbal authorization by telephone) – all that has happened is that my mortgage shows as being over $10,000 in arrears and it has screwed up our credit rating. Our home is NOT underwater – we want to keep it – but need assistance (I have been unemployed for almost 2 years and my husband is retired) – our income has been reduced from over $125,000 to about $40,000. Has anyone successfully completed home loan modification?

Yes ! I think that