Curious, how many of you still have your homes? We did the loan modification, paid every payment on time for 6 months, month 7 they returned all money to us and said they determined we didn't qualify after all and to call to find out why. Couldn't ever get an answer out of anyone. House was foreclosed on 2 months later.
We applied twice for a loan modification. It took about 3 months, but we were significantly behind due to a lay off. Our income is now higher and we have less debt, as reflected on the modification paperwork (this was for a Wells Fargo program to actually get the late payments moved to the end of the loan)..and we were told we didn't make enough income to support the mortgage and needed to short sale our home....However, talk to someone on the phone and no one can give us a straight story on the status of our loan. Every month, we recieve a letter of loan acceleration if the account is not brough current by a certain date. That date comes, we get another letter stating the same thing with a later date. Talk to WF and they have no clue, there records reflect nothing....Tonight, my husband talked to WF and their records show the loan modification was denied to it being listed as going up for short sale. We never said "short sale" that was used in their denial letter to us.