One more way to stay in your home

PLEASE READ IF YOU ARE GOING TO TRY FOR A MAKING HOMES AFFORDABLE MODIFICATION LOAN OR HAVE APPLIED OR TURNED DOWN..If you are wanting a Making Homes Affordable Modification Loan and the mortgage/bank is telling you are not qualified there are steps you can do to verify this. First you should contact (www.makinghomesaffordable.gov or 1/888-995-4673) first to get pre-qualified before contacting your bank/mortgage company. It takes just one phone call. They will put you with a counsler the get all your information to establish if you are eligible. Once you are then will forward it to your lender. That is not a stopping point you must call your lender and send them all the information they require (call weekly to make sure they have rec’d it). If for any reason after all information has been sent they tell you that you don’t qualify CALL Making Homes Affordable Program again to inform them your lender may not be following the guidelines. You should then be transfered to the Escalation Team. They will go over your current statis and if you allow them they will conference call with your lender to get your modification started. DO PAY ANY PAYMENTS YOU CAN….DO NOT GO ON THE RECOMMENDATION TO MISS PAYMENTS TO QUALIFY FOR THIS PROGRAM…..THAT IS INCORRECT. Each lender has their own loan modifictions that they may want you to do instead of the MHA one. You do not have to do these you have the right to MHA loan. My lender has made statements that are unbelievable. They stated that I should not pay for 3 months then I will qualify for the MHA Loan. I new something was wrong and decided to report it to MHA when I found out all this information. The Escalation team counsler was told the same thing by the helpful person at my Lenders Loan modifiction department. So it was verified that they were not following the guidelines. Keep records, names, reference numbers of calls, fax records it helps.
Don’t stop here either contact your state Dept. Of Banking and Finance, send your situation in an email to your Senators, Representatives and even the White House. You must fight for your right to have this. The banks are the ones that are stopping this! Why I don’t know since they will only lose money if they continue to get forclosures!