Foreclosure question.

[TMNTCkins]

We are going through the same thing. We lost our business back in Sept 2009 our income was cut in half. We applyed for the HAMP modificaton (gov mod). We prequalified for the modifiction and had a very low payment (less than $1000.00 a month). That was 8 months ago. We were kicked out of the program because they said that we did not update our information as they requested (house then went into foreclosure). Well lucky for us I had keeped all of our records for when I had faxed everthing and I opened a claim for them to look at my account. Now they say we were accepted into the program but our new payment is $600.00 more than the estmated payment that I have been paying. So because I have not been making my whole payment they tacked on all of the late charges along with the difference in payments I was making for a total of $17,774.00. I know that they would tack on the difference of payments but not the late fees for the last year. So if they start foreclosure procedings (like they did on us) and can show that they have out of pocket charges they will tack it on to your balance. I call them twice a week for updates and it was still a mess for the last 8 mo. Don't give up on the modification, too may people do and there is help out there. Even though we did get the modification I still don't think we will be able to pay the new payment so I will be calling them to see what else they can do for us.
Good luck!!

 

[honeydoll]

Ahh, I really feel for you. Forclosure is soooo stressful.

My DH and I went thru this in 2007, although ours never actually went to foreclosure, we contacted them right away to tell them my DH was layed off and we would have issues. It was so stressful. We did a modification. Now we have refinanced and are in good standing. There is hope, but it is frustrating and scary. We stayed in contact with our mortgage company constantly. I believe this is the only thing that saved our home, we got really behind. God bless and hope all works out. It sounds like everything is in row. I too would have been leary to mention the attorney fee, I wouldn't want to give her any ideas.

 

[booker81]

Glad you called!!!!

We also are in sucky times with mortgages - DHs pay has been decreasing for years, and is now on unemployment, and my pay isn't really the breadwinner. Our mortgage payment has been going up every year. We've been doing the loan modification thing for 2 years now, going back and forth....at this point we will be 4 months behind on August 1st, but we aren't in foreclosure because we talk every week - we get different stories each week from the mortgage company, but we are diligent.

I think I may have hit a plan to get us out of the backlog. I've been maxing my 401k at my job- I'm 29 - but found I can take a loan from it, drop to the 100% match percent (work matches 100% to 6%)and still make the loan payments and not see a difference in my check. DH is giving up on his old job (union job, so hes on the books, but no idea when they will rehire), and has talked to the utility company tree service near our house - found out the general foreman knows a LOT of mutual folks DH knows, and there is a good chance they will hire him, possibly next week. They pay will again be slightly less than what he was, but the drive up to 50 miles less one way.

MI has a new program to help with foreclosure and behind payments, but of course our lender (Flagstar, boo) is not on board. Our long goal is to eventually refinance with a more consumer friendly company once we get our credit straightened out. Every time we call Flagstar, we get various answers, the good thing is we aren't being foreclosed, but the runaround has been really stupid over the last 2 years. Not impressed with them.

ETA: Also, when you call, write down the persons name, time and date. Most calls are recorded, and if she gives you incorrect info, you may have a leg to stand on for that as calls can be pulled (I've had this done at my job, but when an agent said I gave incorrect, pulled the call, and I was correct. Just need the date, time and person's name).

 

[Sonoran Silkies]

As has been said, keep very accurate records; written records are good. Perhaps in addition to keeping track of the people dates and times you speak to, you should also send in a letter stating what was said or agreed upon, along with who you spoke with and the date and time; make sure to reference the account/loan number. Do that every time you speak with them.

 

[chicksbestfriend]

Quote:
Wonderful testimony!! So awesome that you finally got connected to someone with a brain that got you on the path you've been searching for, I am so overjoyed for you, even shedding a few tears of happiness for you. Stay diligent, heck, I would probably go overboard myself in all the excitement and call them everyday! May you find the blue skies and rainbows after this storms passes.........This too shall pass!

 

[WingingIt]

Very glad you called and got a representative who actually *gasp* gave good customer service! I hope that this is the last you hear about it. I'm sure you are already, but keep that other money in an emergency fund somewhere. If you're like me, now that this is handled a tire will blow out or something.