Expect only miracles and question authority. That’s what the Roberts family did. After many sleepless nights – thousands of dollars 6 modification companies and lawyers and over a year of declines the Roberts Saved their home!! You don’t have to lose your mind or your money – get your Save Your Home Action Plan today like the Roberts family did.
Constantine created his Save Your Home Plan of Action, fought back with confidence and Saved the family home!!! You can too. A Special Education teacher who lives to help children fought with Wells Fargo for over a year, was declined for HAMP and almost gave up on his home, until he created his Save Your Home Plan of Action and became his own best advocate.
Meet the Liston Family. I wanted to let you know Chase called said they postponed our foreclosure indefinitely!!!!!!!!!!! And would see our loan mod through!!!!!!!! We want to thank you Anna for all that you have done for us. When this is all over, we want people to know what a blessing you are. Jim Liston
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I was told today by a bank of america rep in the modification department that they can not run any thing in the computer to check on a modification for me until they release some codes which they can noot say how long that takes … all they can say is that I was denied a modification which took over 1 tear and the hope counselor ahs sent them other financials twice that have not been used as the codes say I am denied and so have you heard anything like this about the codes … meanwhile bank of america continues to move forward with the intenet to forclose letter which I received today! …My plan is to call them again oon wednesday of this week and aski if the codes have been released so they can put me into review for a modfication.
Hello Lisa,
I am sorry to hear about what has been going on over at Bank of America with your request for a loan modification and the HAMP Denial they will not give you information on -
My suggestion is that you write a letter and address it to the. I have heard of a problem occasionally of system glitches but not of not being able to give you the reason for the denial.
Office of the President –
Home Retention Division
Bank of America
LA-LM ADMIN PL
450 American St.
M/S CA6-921-01-09
Simi Valley, CA 93065
write all of the details of what you have gone through and going through and cc – The Treasury Attn: Phyllis Caldwell
I hope this helps you – please let us know what happens, I am here for you –
“Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened.” – Matthew 7:7-8 KJV
Expect ONLY Miracles,
Anna Cuevas
The Loan Mod Guru – Breaking News “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission.
Good Morning I was just told by Indymac that my loan has not been approved for the mod because” It did not pass net present value” or in other words I have too much equity in the home. We are a small business operating out of the home…endured a major remodel in year 2000 to equip the home for our business….our home is not only the roof over our heads, but also our livelihood as well. We cannot access the equity because of loss of income due to recession….what do we do now?
Good evening Nancy,
I am sorry to hear about your issues and HAMP decline with Indymac One West Bank, I know how hard and discouraging that could be to hear, but you can fight and win!! Believe you can move mo – basically you need to make sure that your numbers indicate a profit for the investors – if lets say the numbers you sent in, and as self-employed they use your net income as the gross income – and lets say with the numbers you provided they cannot modify your loan without lowering your principal somehow than most likely it will not happen – it is important to know your numbers forwards and backwards – but then once you do and you show that it is profitable for them to modify you can win if you stay determined to fight for you home – escalate your case and keep escalating in writing with return receipt end it certified and request your file to be escalated to management – cc everyone you can and send them a copy Like your congressman, Sheila Bair at the FDIC, and Treasury Department Phyllis Caldwell mainly so they can document what is going on. Make sure your numbers make sense and that you actually applied for the HAMP program.
Again – KNOW YOUR NUMBERS! and call in the Holy Spirit to give you strength and inner peace to fight.
When you cross deep rivers, I will be with you, and you won’t drown. When you walk through fire, you won’t be burned or scorched by the flames. Isaiah 43:2
Expect ONLY Miracles,
Anna Cuevas
The Loan Mod Guru – Breaking News “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission.
——–This is what people are saying about Http://www.theloanmodguru.com—————-
”There’s magic going on in the mortgage modification sector… Anna Cuevas’s TheLoanModGuru.com is nothing short of amazing!”
Anna has simplified a very complex process, with comprehensive, easy-to-use software at her website, http://www.theloanmodguru.com. She also has a Blog there to answer questions in depth, which is, in itself a learning experience.
For a small fee, anyone can put together a strong comprehensive mortgage modification application. Anna’s web-based software system is based on her extensive industry background and knowledge.. It’s simple to use and generates a complete comprehensive set of docs that speak the bank’s language.
Anna’s system makes it simple and easy, both from the homeowners’ perspective as well as the bank’s. It’s challenging enough to convince your bank that reducing your mortgage is in their best interest.. Anna’s system has done just that – Ira – Washington DC
Hello Anna,
I used your web site HAMP calculator yesterday and I must tell you that I am so impressed. After researching many different avenues to pursue saving our home, including getting wrong information from a government HAMP counselor, waiting on the phone for hours, and passing on expensive offers that seemed a bit too snake oilish, I invested in using your program. Wow, what a fabulous resource at a reasonable price. Your site was easy to use and extremely comprehensive. Now I feel confident that I’m putting our best foot forward and that we have a shot at working this out. Thank you, thank you, thank you. This is an awesome contribution! I recommend your web site enthusiastically and hope everyone will have the opportunity to use it.
Cathy, Los Angeles, CA
Hi Anna,
I am with IndyMac (Now One West Bank) and I was placed on a 3 month trial for HAMP. I completed and returned all of the necessary docs and made all payments on time only to be denied at the end of the trial because I was then told that when they tried to access my tax returns back in March that I had not filed 09 or 08 taxes. I told them that I had filed electronically and they re-opened my file so that I could determine what the problem. I found that the IRS never received my returns so I immediately went down to my local IRS office and filed and faxed copies of the returns to IndyMac. They then told me I was still denied but that I could reapply in a few weeks. I did that and they are denying me again. Do you know of anything I can do at this point? Default notice has already gone out.
Hi Erik,
Sorry to hear about your hard time with Indymac One West Bank – What is the reason for the denial now? Did they give you one? Was it in writing? I would write a letter of appeal – send it certified and request your file to be escalated to management – cc everyone you can and send them a copy Like your congressman, Sheila Bair at the FDIC, and Treasury Department Phyllis Caldwell mainly so they can document what is going on. Make sure your numbers make sense and that you actually applied for the HAMP program.
FIght for your dreams – don’t give up.
If you are tired from carrying heavy burdens, come to me and I will give you rest. Matthew 11:28
Expect ONLY Miracles,
Anna Cuevas
The Loan Mod Guru – Breaking News “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission.
Expect ONLY Miracles,
Anna Cuevas
The Loan Mod Guru – Breaking News “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission.
——–This is what people are saying about Http://www.theloanmodguru.com—————-
”There’s magic going on in the mortgage modification sector… Anna Cuevas’s TheLoanModGuru.com is nothing short of amazing!”
Anna has simplified a very complex process, with comprehensive, easy-to-use software at her website, http://www.theloanmodguru.com. She also has a Blog there to answer questions in depth, which is, in itself a learning experience.
For a small fee, anyone can put together a strong comprehensive mortgage modification application. Anna’s web-based software system is based on her extensive industry background and knowledge.. It’s simple to use and generates a complete comprehensive set of docs that speak the bank’s language.
Anna’s system makes it simple and easy, both from the homeowners’ perspective as well as the bank’s. It’s challenging enough to convince your bank that reducing your mortgage is in their best interest.. Anna’s system has done just that – Ira – Washington DC
Hello Anna,
I used your web site HAMP calculator yesterday and I must tell you that I am so impressed. After researching many different avenues to pursue saving our home, including getting wrong information from a government HAMP counselor, waiting on the phone for hours, and passing on expensive offers that seemed a bit too snake oilish, I invested in using your program. Wow, what a fabulous resource at a reasonable price. Your site was easy to use and extremely comprehensive. Now I feel confident that I’m putting our best foot forward and that we have a shot at working this out. Thank you, thank you, thank you. This is an awesome contribution! I recommend your web site enthusiastically and hope everyone will have the opportunity to use it.
Cathy, Los Angeles, CA
Thank you Anna. Do I have time for that? I was sent a Default Notice.
You are welcome Erik – you have to overnight the letters – and DO NOT GIVE UP – KNOW YOUR STATE FORECLOSURE TIMELINES AND STAY ON IT – Leave no stone unturned, even ask HOPE to call them for you and do a 3 way with escalations if you have to.
When you cross deep rivers, I will be with you, and you won’t drown. When you walk through fire, you won’t be burned or scorched by the flames. Isaiah
Expect ONLY Miracles,
Anna Cuevas
Hi Anna,
We’ve been working with Wells Fargo to get a mod for over a year and a half. We were recently told that we are approved for a HAMP mod but our investor does not allow them. We did a little digging and believe our investor is B of A. Is there anything we can do at this point?
Hi Kelli,
I would escalate your case to upper management and really get the low down on what you can do – I would maybe even escalate to the President of Bank of America if necessary – leave no stone unturned. Write letters call in your congressman! Research research research!Ask the Holy Spirit to guide you and whoever reads your letter!
God is omnipresent — he is present everywhere. Because this is so, you can never be lost to his Spirit. This is good news to those who love God, because no matter what we do or where we go, we can never be far from God’s comforting presence.
Expect ONLY Miracles!
Anna Cuevas
The Loan Mod Guru – Breaking News, You asked for it, you got it. Due to the numerous requests for more assistance, “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission.
Hello Anna,
I’ve submitted my application and paperwork to try to get a HAMP mod. After much research, I’m worried that I will not qualify for the permanent mod because I am unemployed. Does this hold true? Will they only help me temporarily?
Anna,
I have read many great things here, but I have to ask about my situation. We filed chapter 13 bankruptcy to be able to keep our home back in 2006. The automatic stay was recently lifted and Indymac has started foreclosure proceedings. What can we do to stop it? They won’t work with us. Their lawyer sent us a letter of intent to foreclose and today Indymac said the sale was set for October 4. If we apply for HAMP, will that stall the foreclosure? What if we are denied? I sent in the initial HAMP application, but not the required documents yet. I just want to save our home. I recently got a part time job and we can afford the payments, but they won’t work with us at all.
Hi Anna,
I was just recently told that my modification through Bank of American was denied because I didn’t meet the 31% mark of my gross monthly income. However, when I run the numbers I come up with 33% ($2214.05 / $6695.06 ).
I was told by Bank of America that because I had a interest only option of $1909.10 that I was not eligible – even though the HAMP guidelines that I see all state that it is supposed to be based of off my full payment, not the interest only payment. They are using my interest only option to determine my qualification – and have, after going through an internal appeal, verified that that is what they are doing.
What options (if any) do I have at this point? They’ve already declined my appeal, and have stated that they are following the government guidelines while doing so. What am I missing here?
Anna,
I don’t know what to do… I just got the 3 Hamp trial payments with Bank of America for $1925… I was in a upside down mortgage 5 and 1 adjustable. Bank of America calculated my overtime in the 31% new payment. Without my overtime it should of been $1641. My whole hardship letter was that I am a Police Officer and my departments budget was cut. alot of it was overtime and my overtime is not steady month to month. the summer overtime was plentyful and where the winter overtime will be almost zero. can they actually calculate my overtime in the 31% figure??? I heard different responses. I need help should I accept the trial payment that I might not be able to afford in Jan or Feb or Bank of America says that I might have to apply again… or make an appeal… a friend told be to get a foresclosure laywer and the bank would offer me a better mortgage if I start the foreclosure progress rather than the HAMP.. Any ideas??? I’m about $150,000 upside down in my mortgage.
I want them to lower my principal but I think I make too much money for them to lower my principal…how can I get the bank to bring it down to the market value?
Mike
Hello Mike,
I would fight it – Here is the guideline on overtime, the answer is yes they use it but…
For additional income such as bonuses, commissions, fees, housing allowances,
tips and overtime, a servicer must obtain a letter from the employer or other reliable third-party documentation indicating that the income will in all probability continue.
I would go to your employer and request either a letter explaining how the overtime is seasonal and most likely will not continue in the winter and that this is customary and historical. Call them and tell them they made a mistake on the income – escalate it if necessary but have your proof ready and already faxed over to imaging with your loan number on it and an escalation/appeal and income correction request and why and what your calculation is.
In regards to your principal reduction request you definitely have the type of loan that qualifies for the new program as you mentioned you have the option arm. Check out this article
I hope this helps!!!
There isn’t a person anywhere who isn’t capable of doing more than he thinks he can. Henry Ford
Expect ONLY Miracles – To think for yourself you must QUESTION AUTHORITY! LISTEN TO HOW HARRY LOVED THE LOAN MOD GURU SYSTEM
Anna Cuevas
The Loan Mod Guru – Breaking News “I am pleased to announce the launch of The Loan Mod Guru website” – A Professional, full service site to help you create and complete a successful HAMP submission. TAKE THE GUESSWORK OUT OF THE HAMP PROGRAM!!!
Thank you…
Mike
Anna,
We had a trial mod in Feb. Indymac offered us a final mod. And we were working with a company that said they were helping. Bottomline, indymac is now saying that we rejected the final mod and our time period to dispute us denying it has passed. Furthermore, that it is a new government law that once a final offer is made and rejected that we cannot re-apply. Indymac further says that all they offer is the government program and that they don’t offer any internal programs, and if we don’t pay our delinquent balance in full immediately there is nothing else to do. Is this a true law about pre- applying?
Thank you,
Michael
Anna,
Great site ! I have been denied for making home affordable a couple of times because my mortgage to gross income ratio was “too low”. My mortage amount is about 2,000 and my gross income is about 5,000 which would be about 40%. However, I also have a rental property. The rent I get is 1,350, but the the mortgage and HOA add up to 1,400. Eventhough the “rental income” is completely unavailable to support my mortgage or any other debt/living expenses, BOA was saying that they have to calculate the ratio as 2,000/6,350 which is about 31%. Last night after months of fighting they agreed to not include the rental income in the ratio which at least got me to pass as a referral for making home affordable. However, I’m still nervous as I can’t find any guidelines to help me understand if I’m going to face the same issue as I get further into the process. Any thoughts ?
Thank you !
Kevin
Kevin,
You can do it!!! You got past the first hurdle of convincing them!! Here is the guideline, listed on some of my previous posts somewhere in there ,lol :
Rental income. Rental income should be documented through the Schedule E – Supplemental Income and Loss of the most recent tax year. If the borrower is using income from the rental of a portion of the borrower’s principal residence, the income should be calculated at 75 percent of the monthly gross rental income, with the remaining 25 percent considered vacancy loss and maintenance expense. If the borrower is using rental income from properties other than the borrower’s principal residence, the income to be calculated for HAMP purposes should be 75 percent of the monthly gross rental income, reduced by the monthly debt service on the property (i.e., principal, interest, taxes, insurance, including mortgage insurance, and association fees), if applicable.
“Never let go of hope. One day you will see that it all has finally come together. What you have always wished for has finally come to be. You will look back and laugh at what has passed and you will ask yourself… ‘How did I get through all of that?”
Expect ONLY Miracles and always Question authority!!!
Anna Cuevas
The Loan Mod Guru
Hi Anna,
I have been working with Chase Bank for 2 years trying to get a loan modification from them. I was able to get the trial period payment plan which I am paying right now. It’s been about a year and a half since then and every time that I call them, I get the run around. One department says that I don’t qualify, another department says I do. I keep sending file after file to show my unemployment and social security income for months. Now, just recently, they are telling me that they can no longer use the unemployment benefits as part of my income and I don’t qualify. Then they sent me another mod application, specifically for unemployed recipients. I called the Loss Mitigation Department and now, they are telling me that they do have a program but because I have been past due more than 6 months, that I don’t qualify now. They don’t even state that there is a limit on any on the papers that they sent. How am I supposed to know? I feel like they are playing games with me because my home is not upside down like a lot of other homes. I have been paying the trial payment for two years on time every month and I can’t see why they just can’t take the past due payments and put them at the end of the loan. So frustrated… What can I do?
Hi Anna,
My loan modification with Chase was denied for NPV negative. I am 15 months behind. I want to reapply as my son lives with me and he is working. I want to add his income to get qualified. But I don’t know how much.
Please help me. My details:
4 adult in house , Lender – Chase ( Washington Mutual )
My gross Income-$3350 Net-$2450
My wife not working.
Non Mortgage members living with us Household income -
My son groos-$2666,Net-$2150
My father Net SSI $493
Loan Balance-$325000 House value-$375000
15 months behind – $1975+800+65=2840*15=42600
Expenses around 1700.
I don’t know how much contribution to take from my son & father if needed ?
Please tell me this and what exoenses do I put?
Do I get loan modification and what will be mortgage payment and Interest ?
Please tell me.
Hello Guru,
I was denied for the Hamp because I failed the NPV but they have my income incorrect. What should I resubmit.
Hello Lakeshia,
I am sorry to hear about the denial that was sent to you by your lender. This explains what HAMP NPV is. My suggestion is to send them a letter asking them that you want to enforce your rights to have all of you NPV inputs sent or given to you asap. This way you will be able to see exactly what numbers they used for the HAMP NPV test your income and other things as listed in this article about what the inputs for the HAMP NPV test are.
Once you have this information you could see if it there is an error. It is vital that you know your income numbers and run some of the examples in how the HAMP is calculated to make sure you are within the guidelines for the program, this way you know exactly where you stand and what you need to do to fight for your dreams.
You can do this stay positive and determined. “Courage and perseverance have a magical talisman, before which difficulties disappear and obstacles vanish into air.”
– Adams, John Quincy
Expect ONLY Miracles and Question Authority!
Anna Cuevas
The Loan Mod Guru
Hello Annie,
I was denied the loan mod 12/7/01 due to failing NPV. I requested the NPV inputs by certified mail.
Received (unsolicited) Special Forbearance 12/14/10, it was dated 12/7/10 and the offered expired 12/12/10.
I did not want to suffer anymore mental anguish about the loan mod situation, so my question is:
Once I stop paying mortgage payments, how long does it take (approx.) for foreclosure? Thanks!
We were in the HAMP trial program from June 2009 – July 2010 I’m guessing — during this time, we were sent denial letters at on 8 different occasions for various reasons; however, we kept making our trial payments each month. Our payments in the trial plan were $1850/per month.
Then in October 2010, we got a package from the mortgage company with Trial/Final modification documents OUT OF THE BLUE to be returned the first week in November. Upon reviewing the documents I noticed that our payment had gone up $700 a month to $2505, with no change in income — as a matter of fact, I was no longer getting unemployment, so our monthly income had actually decreased. I was hesitant about returning the documents without understanding what I was signing. Needless to say, an escalation was opened and we were contacted 4 days before the documents were to be returned. We were told by the agent at Saxon NOT to worry, just get the documents back as soon as possible, as a matter of fact we touched base with the agent (we had her number) prior to sending the documents back AFTER the due date — 11/8/2010.
Well, we got a breach letter in November, December & a couple of weeks ago … when I called to ask about it .. I was told NOT to worry, it was automatic and that once the modification was actually booked we would be okay.
Since we still hadn’t received a copy of our final documents, I called Saxon on Monday the 24th for an update. I was told that the documents were in the system and just needed to be booked that an escalation would be opened and to call back Thursday or Friday – 1/28/2010 and everything should be processed by then.
Upon calling, I was told that we had been kicked out of the HAMP program because the paperwork was received late and that we would NOT be reconsidered; however, they had other in-house mods available. This is after they’ve had the documents for two months. Told them I was not interested in their in-house programs and that I wanted to know why I wasn’t kicked out on Monday, the 24th. We have been making the payments on time…just wondering if this is in fact true … that they can kick you out for submitting the documents late because you had questions before signing?
Other Facts:
1. HAMP final mod payment is 49% of income … which is why I questioned the documents in the first place … they stated the difference was for an advance on the escrow.
2. I asked them how they were calculating escrow because they are adding an addition $700 a month to the payment for escrow IN addition to our current escrow of $535 … P&I was $1505.
3. The income documents they used for finalizing the modification were 18 months old … and we were never asked for updates.
I have no problem with pursuing this fight that has been going on with them for two years…especially different people saying different things depending on the day one calls.
Just wondering what the legalities are for kicking someone out of the program because of questions and submitting late documents.
Thanks!
Hello Anna, its been a few months since our last e-mail contact, (which I hope you didn’t find offensive, It truely wasn’t meant that way) and I hope all is well for you and yours. I was checking out different sites to mount yet another defensive, in the battle to get my “HAMP” mod. after recieving another “ineligible for ” final decision letter from Wachovia for “Unable to reach 31% RTI”. After contacting a rep. for our lender, and a 1&1/2 hr conversation with her, she gave me some numbers the underwriter used to calculate the HTI, which ,regarding income, were less than 1/2 we reported. They didn’t ask for back-up to the amounts we had given, but in the end, there reason for using only 1/2 was they couldn’t “verify” it as income.I am a sole proprietor so my income is the bottom line on the P/L + the total of my “Draw checks” taken for the year. That amount divided by 12 = my monthly income, correct ? Well it seems they will take the P/L as “verified”, but the list of my draws and paid expenses are not. We have been through 4 apps. in 17 months with these people, and they couldn’t call us and ask for some proof of my draw checks ? I have most of it in bank statements etc. and plan to send it to them, just as soon as they call me back!!!.A rep I spoke with this morning sent an escalation to my “home preservation specialist’s” advisor, and said I would be contacted later today( friday 2/25/11 or Monday morning, first thing. The problem is our deniel letter is dated 2/17(recieved yesterday) and we recieved via cert. mail (yesterday also), 7 copies each of “Notice of Default” recorded on 2/10. We had recieved a final decision letter on 2/2 rendering us ineligible for Hamp, and thats what prompted my call and conversation with the rep that gave me the the actual reason. I guess after all of this run-on yada yada, my question is how can this be legal? Are there no Watchdog groups to keep these kind of practices in check ? The very first letter of denial for the 4th application(recieved 2/2 and dated 1/26) , gave us 30 days to contact them an discuss or supply additional info to possibly change the ineligible status. The 30 days havn’t even past yet and they recorded a notice of default ? Something is so wrong with the way lenders are able to manipulate the situation to they’re advantage and have no disciplinary action to worry about for it!! ( at least not in this life). I’m sorry for rambling on, I obviously needed to vent. Thank you in advance for any advice you may have, and God bless you Anna. L.
Hi Anna, hope you can help me. We have a loan thru GMAC. I contacted Fannie Mae and they sent me all the paper work I needed to fill out to se if I could get help with my current home loan. I just received a call back and a letter telling me it has been denied due to not enough income. They suggested I rent a room out, or get a higher paying job…Like I am not trying to do that already. My question is …. Is there a formula they go by? I have a big house and i am willing to rent a room out. However, they would not tell me what that formula is? Help I have paid over 120k on this home already and do not want to loose it. I know if they just get my payment down $500.00 less a month I can do it.
Hi Anna. So my husband and I live with my father-in-law in his home and have for four years now. We started going through the loan mod process almost a year ago now because my father in law lost his job, and my husband was laid off cause he was in construction. After going back and forth with the bank which is Wells Fargo although it’s serviced through America’s Servicing Company, we kept getting denied even though it seemed like we should be approved. My father in law takes care of his elderly mother and his brother who is in a wheelchair, plus he was getting unemployment, and we were giving him money to live in the guest house (same property). After being scammed by a loan mod company and losing $1300, we decided just to deal with the bank and were still not getting anywhere. Finally, we received a notice in January about a big seminar with Wells Fargo customers where you could go down and get your loan questions answered. We brought everything they said with the exception of two pieces of papers, which were the letters from my father in law’s mom and brother stating that they pay him to take care of them (stuff which had already been sent off a number of times). We were assigned a personal loan representative who ensured us that we would only be speaking to her from now on and said that we definitely should qualify for HAMP and that she would submit the paperwork within a week of getting those two letters because with HAMP there was a time limit. That was over two months ago. Since then, we have only been able to get our representative on the phone three times, other than that they have the call center people call us to tell us that we still need to send in paperwork that we subsequently inform them they already have, in which case we get put on hold and told, yes we do have it thank you for sending that in. In these two months there was only ONE paper that was incomplete – we forgot to put a total at the bottom of the column. Now they are saying that we need to show six months worth of bank statements and cancelled checks from his mom and brother which we are happy to provide, but it all seems like a stall tactic to me. They actually already have copies of the bank statements, although I’m sure they are scattered between a million different people since it seems like they can’t just assign one person to it really. And if they really did need this, how come we weren’t told about it two months ago? These people supposedly know what they are doing, they are getting paid to do it, so why wasn’t that among the paperwork we were told to bring. Furthermore, one of the times we did finally get our representative on the phone (and mind you, it was a task, we were calling daily leaving her messages and talking to the call center people who claimed they were sending her emails to call us), she told us that we couldn’t use his income from his mother and brother because they didn’t live on the property, which made no sense at all since it’s claimed income and everything, and when we informed her that she told us at the meeting that we could in fact use it, she said she’d take a look at it again and hasn’t said a word about it since(not that we’ve talked to her except for one time after that). We are really at a loss. We’ve complied with everything they tell us to. Every time we call they tell us they have what they need, even when they first tell us we don’t, and now that they’ve used that excuse too many times, they are asking for paperwork that seems pointless. It’s totally back and forth with them. They’ve told us they needed to have access to mine and my husband’s tax returns (our names aren’t on the loan and we’ve already provided them with pay stubs), then they told us that wasn’t necessary and they weren’t sure why we were asked for that. Our personal representative said that she was moving departments but would still be handling our loan, only to tell us once we had complained several times about her lack of response to our calls that she was no longer in charge of our case, and then have her backtrack that when we asked her who exactly was in charge of our case and what their personal contact info was. My father in law has a hard time keeping all of it straight so I am trying to help him but it seems like such blatant disregard for anything close to fair business practices, I feel stuck.
Please Help!!
My loan is with Bank Of Americia. I just got my package to apply for HAMP mod. I saw your website and said thank you JESUS!
purchased for 154900.00
should appraise around the same today
My pay off is 133,329.00
late 4 payments of 1025.00 each
ins. 83 a month
pmi 59 a month
tax 77.25 a month
I am self employed so I have to send in the last three months income….all together that is 6338.25 for a total of 2112.75 a month
Do you think this will work? I wanted to get your addvice before I sent it in!!
Hello Jamie,
I am so glad you found us too!! From the looks of your income it looks like you should be able to qualify for HAMP = just keep in mind that for self employed borrowers HAMP uses the NET income on your Profit and Loss statement as the gross. I hope this helps. Please come back and give us your success story! Keep in mind there is more help on The Loan Mod Guru
Instead of giving myself reasons why I can’t, I give myself reasons why I can.
Author Unknown
Expect ONLY Miracles and Question Authority,
Anna Cuevas
The Loan Mod Guru
Dear Anna,
Hope you can give us some expert advice.
We have to file Chapter 13 to save our home of 15 years and after 13 months of HAMP application that bear no result but a denial the day before the forclosure date. Make long story short, I have a trustee payment of 945 and 1237 mortgage payment I have to bring current. Our budget is so tight since I am on unemployment since July 2010 and my husband has unstable self employment income in an unstable business environment these days..What is the rate of successful modifications after Chapter 13. Will BOA work with us? Im getting ready to resubmit updated documents.GROSS INCOME is 3200 * 31% taxes and Ins. is 314. We owe 165K but house is worth 200K..Is the HAMP formula applicable to barrowers post bancruptcy…When I submit our budget, should I show a plus or minus income to qualify?
I was turned down for the Hamp modification. The loan is in my name only and I submitted income for my husband and I totally 5200. a month. My mortgage is 1785 w pti. I applied for internal modification thru Wells Fargo Bank. In the mean time my husband and I are splitting up. Can I apply for the Harm again with an explantion and just using my income which will drop it down to 4200.00 a month Please advise. My loan amount is 210K and I believe property worth 185K thanks Alisa
Hello Lisa,
I am sorry to hear about your marriage situation. The HAMP program requires a divorce decree, I have seen some lenders accept a recorded legal separation agreement and proof that he lives elsewhere. I hope this helps you in your situation to apply for HAMP and I wish you the best in your situation at home
“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.”
Expect ONLY Miracles and question authority,
Anna Cuevas
America’s Loan Modification Guru – Check out The Loan Mod Guru a Save Your Home Plan of Action to give you the peace of mind you need.
#1 Bestselling Author, Save Your Home
Dear Anna,
I am writing this letter hoping for your help. Our family has been fighting with the BOA since 2009. My husband received Trial Period Plan for HAMP in November 2009. In the same month he filed for bankruptcy. He made payments in the amount of $2,733.27 under trial period until June 2010; his case was transferred to the bankruptcy department. In June 2010 he received the refusal letter for HAMP modification based on NPV. We contacted BOA numerous times within 30 days to request the date when the NPV calculation was completed and the input values (the refusal letter stated that we were entitled to receive the explanation within 30 business days). We never received the explanation. Furthermore, the customer service representatives were confused while asked about the NPV concept. My husband resubmitted the financials adding the support letter from his relative. We were offered loan modification with the payment of $3,610.02. Out of fear losing our home, he signed the agreement. Since starting our loan modification process, I gave birth to a child and now we are expecting the second child. The final payment is a struggle for us to make. My intention is to request the bank to review our MHA modification, explain why we were denied based on NVP value and possibly to reapply for it again. Our family would appreciate your recommendation from where to start. Do you think it might be possible to revert to the initial terms? We need help from the expert. Thank you for your blog and valuable information that you provide to people like us.
Sincerely,
Victoria
Dear Victoria,
Congratulations on your new baby on the way!! The agreement you received was not a HAMP correct? If it was not a HAMP you can reapply.
My suggestion would be to reapply for the HAMP loan modification – first try and call back and get the NPV numbers or run the numbers yourself to see how the previous income submitted to Bank of America fits in to the HAMP program. Then run your new income numbers to see how you fit in to the program now. I hope this helps.
“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.”
Expect ONLY Miracles and question authority,
Anna Cuevas
America’s Loan Modification Guru – Check out The Loan Mod Guru a Save Your Home Plan of Action to give you the peace of mind you need.
#1 Bestselling Author, Save Your Home
Anna, I have a very unique situation. I am separated. My husband left 2 weeks after I lost my job in 09/2009. I filed for modification in Jun 2010 when I stopped making payments in Feb. I now still am separated (filing for divorce as we speak)and 4 months ago found a great paying job. I am back on my feet making just about the same income from 2009, but Chase has denied my loan and is forcing me to pay all I owe them($40K) if I want to keep my house or either short sale it, or foreclose on my house. A fedex package came to me yesterday with this information. I now can afford to keep it, but I can’t pay them $40K. They still have my husbands income as though he is helping which is far from the truth. I proved to them he lives elsewhere, but that is not good enough for Chase. I know you give me versus from the bible which I believe in and have faith that God is going to let me keep my home but in the mean time I have to do something to get back in the modification program. I can’t expect God to just give me my home while I sit at work with my arms crossed.
What do you recommend? I spoke to Hamp rep one month ago and they called Chase on a three way. We got more answers from Chase that day than I ever got before from my Chase rep that is suppose to be on my case. This day the Chase person said I didn’t qualify for the hamp but they were putting me through a Chase Modif to see if I qualify. One month later and they got me on short sale. by the way did I mention my house is worth $240K and we bought at $459 and put down almost $200k. So Chase got lots of money from me. I want my house and refuse to give up.
Please advise…..I feel like Chase is out to get me and not help me.
Thank you
Claudia
Claudia,
I am so sorry about your household situation – it is difficult on your own, but you sound like a fighter and I think you will prevail, keep going!
Keep fighting back!!! If you know you qualify, which you don’t have to guess at, I would fight back and escalate your case. It may seem like they are out to get you but I believe they are overwhelmed. Complete your Save Your Home Action Plan today – http://www.theloanmodguru.com and stop guessing before resubmitting. Listen to the people on my site that have benefited from this information, if you are prepared to fight back you can win and Save Your Home.
“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.”
Expect ONLY Miracles and question authority,
Anna Cuevas
America’s Loan Modification Guru – Check out The Loan Mod Guru a Save Your Home Plan of Action to give you the peace of mind you need.
#1 Bestselling Author, Save Your Home
Anna,
I purchased your book, I can not afford to purchase the modification help kit, I need to save every penny. I have been in the process, back and forth with Chase since June 2010. We are now 20 payments behind, but at a better financial standing at the moment. We used to make combined about $6700 a month, then it went down to $ 5000 (with unemployment) , then it went into $3300 (after unemployment ran out), but our expenses were only getting higher.
We purchase our home in April of 2008, and for the first 2 year never late or short on a payment, we went to them as soon as we realized we would be short for the first time. My husband put 20% down, paid down points, we purchase the home for $365,000, with a FHA loan of $292000.00 from Lend America. We’ve paid about $73512.00 in payments to Chase and $73000.00 down plus plus $40k in repairs.
Need some advice:
My current mortgage payment is $3063
Our Rental Income is $2600
Self & Part Time Income is $1700 (as of the last 4 steady months)
Our Expenses (Bills) are $1500-1600 month (they used to be $3000 mo, but we paid off all our credit cards and minor debts)
Income total 4200 – 4300 a month, minus Expenses are 1500- 1600 a month, leaves us with $2700 for mortgage and emergencies.
Saving thus far $3300 and building,
Some we want to be modified to about $2200 or $2300 a month in total payment
.
Insurance is $106 and taxes are $979.00 a month .
Do you think we will get approved with these numbers.
We are dedicated to saving our home at all cost, we work all sort of odd jobs, but mostly cash paying. Had to do a lot of emergency repairs, totally over $40K, but we used all of our own money.
We need serious advice have been denied what feels like a million times, can not afford an attorney, seeking help from any one that can.
Sincerely
Yasmin
New Jersey
Yasmine,
Thank you for purchasing Save Your Home and I hope you are soon able to prepare your Save Your Home Action Plan so you can have the most accurate view of what the lender will see upon submission on your package to have the highest chance of success! I really think if you have been denied millions of times that you should consider working your strategy plan, that is why I kept the cost low.
First of all the income used is 75% of the rental and only if there is excess after any mortgage payments and expenses such as insurance and taxes. So I am unsure what you income is.
They use 31% of the gross income – 4200 x 31% = 1330.00 – monthly insurance and taxes 106ins and 979 tax = 245.00 left for the actual mortgage payment….. the income is way too low for a $365,000 mortgage balance.
I think it is important here to work on raising the income and lowering your taxes, insurance and business expenses. That is the top priority. For the best strategy plan log on to http://www.theloanmodguru.com I hope this helps.
“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.”
Expect ONLY Miracles and question authority,
Anna Cuevas
America’s Loan Modification Guru – Check out The Loan Mod Guru a Save Your Home Plan of Action to give you the peace of mind you need.
#1 Bestselling Author, Save Your Home
Anna, I have applied for a modification from IndyMac. The servicer has said that the only thing holding up my approval is the verification of my owner occupancy using my credit report. Two of the three reports have my rental address as the first address. How can I rectify this situation? I have escalated my file, but it will take thirty days to correct my credit report home address.
Eleanor,
Provide them as much proof as possible showing that you live there… all utility bills, bank statements… anything official that you can use to prove that you are really there.
Use this information when you escalate your file to management.
“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.”
Expect ONLY Miracles and question authority,
Anna Cuevas
America’s Loan Modification Guru – Check out The Loan Mod Guru a Save Your Home Plan of Action to give you the peace of mind you need.
#1 Bestselling Author, Save Your Home