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I qualify for a loan modification but my mortgage Company refuses to help me. What Can I do? All of these laws put into effect were great but the banks;mortgage Co’s are not following the guidelines.. they simply refuse to help ..even when you have qualified.. Please help…Since getting my home loan, had to go on disability SSA & income half of what it was..

I totally agree. I am getting the same runaround. Bank of america who I thought bought mt oan from countrywide now tell me they are only my loan servicer, But the best part is they refuse to tell who actually owns my mortage. WHAT A JOKE. Time to call a lawyer the only way to get anywhere in america!

Chase home mortgage has denied my request, on numerous occasions for a HAMP loan modification even though I meet all govt. requirements. NO ONE is holding them accountable or enforcing the program. Can’t believe what has happened to our country.

i also meet the guide line for the modification program ,in sept. citi mortgage approved me for a modification ,then they told me they did it wrong ,i had to reapply ,and today i get a letter saying they cant help me because i have no mortgage late payment ,why did they make me waste 6 months of my time and numerous amount of paperwork to give me that answer ,obama should have let these banks fail!!!

I agree with all. Chase ran me around for 11 months and I was “disqualified” but never saw a piece of paper saying so even after I requested it 3 times!!! Then they told me to re- apply. Why? I ve never missed a payment and have borrowed and sold off just about everything I can to keep up. They told me being unemployed was not a hardship.
Chase is crooked and hasn’t helped anyone

I was a nurse for 40 yrs and became ill in 2007 unalbe to return to my career. Increased medical bills in the thousands and medicine costing $1700 per month/ I applied and applied to Wells Fargo for assistance. Finally in Jan 2010 I contacted Sen Bill Nelson for help. 3 weeks later a modificationwas on the table. In bankruptcy for the medical bills etc My lawyer recd a copy too. But no papers ever arrived for my signature of this Modification. 4/15 They sent me 2 pages of FEMA notice telling me to get Flood INS they were already paying from my EScrow acct for 5 yrs now. But they insisted I recd 26 pages.I honestly as God is my judge never recd the papers. I signed and sent back the 2 pg with my flood ins policy and elevation certificate. I begged them to sent the modification for my signature. 4/28 they agreed and I waited and waited looking for UPS FED EX etc as I had no info on how they would arrive. cancelled Dr appts went no where. 4/30 I called Wells Fargo stating no papers arrived. 5/3 I called again no papers arrived they said I refused them. How could I refuse what I never got? I complained to UPS for not delivering my mortgage modification. 5/7 I spoke to a rep at UPS who told me “it looks like Wells Fargo recalled the package before it went on the truck for delivery to you”
Mr Obama your plan is not failing, People are not refusing and defaulting. THE BANKS ARE PLAYING GAMES WITH PEOPLES LIVES AND THIS IS WORSE THAT NOT HAVEING HELP AT ALL. WORSE THAT YOUR OWN MOTHER WENT THRU MR OBAMA!!!!!
WE NEED SOME HONEST PEOPLE GET RID OF THE BANKERS WHO LOOK TO FEED THEIR OWN EGOS WHILE PEOPLE DIE.
WELLS FARGO SENT MY BANKRUPTCY LAWYER A LETTER STATING THEY WANT TO DO A SHORT SALE ON MY PROPERTY AND THEY THEN INCREASED MY MORTGAGE BY $75 FOR THE MONTH OF JUNE 2010
this is a true account of Economic America
A SAD STATE OF AFFAIRS GOD HELP US ALL !!!!

Kathy wins.

Chase bank is running us around. They ask for information and we send it. They keep adding to the list when we call them back. They never return a phone call but request that we call in 10 days. Each time saying they need more.The people are rude,threatening and almost impossible to understand.

We went through the same non-sense with America’s Servicing Company (Wells Fargo). Our loan modification was approved but we didn’t get a lower payment. The loan was based on our original balance without an appraisal. The house value is way less than the loan balance. In my opinion, any loan modification should be based on an appraisal. The loan institutions and investors are saying let’s punish the homeowners with the new laws on the book.

I have the same issue with GMAC mortgage. I am a single parent of 3 children, work 2 jobs, have applied for a loan modification and they tell me that my debt to income ratio shows that i make enough money to make my mortgage.

Bank Of America is one othe hardest bank to deal with, I been trying to modify my loan 2 times and they declined, my income is not as great but my husband is working making the minimum but I call the bank and I let them know they refuse to help I dont know what to do or where to go I am getting deppress and want to get away but I cant I have to look for a resolution to stay with my home if any one can help me or have an opinion please let me know asp….

Kathy I hear you… Wells Fargo has been playing the same run around with me too! They keep refusing to modify our loan. My husband had 2 heartattacks last summer within 2 weeks, Wells Fargo is saying the investor is refusing.. and who is the investor.. Freddie Mac!!! I guess medical bills and 6 weeks of no pay on top of some other things does not qualify.. They took our money and gave it to these monsters.. I sure they sleep well at night!!!

This is such a shame how one person can hold our fate in their hand. We have been going round and round with Wells Fargo to get our modification. My husband is self employed and had surgery a while back which caused us to get behind on our mortgage. They gave me the run around about the investor so I found out who that was and I contacted Ginnie Mae which so happens to be a govt. backing that guarentees the bank their money, wells fargo has the loan in a pool waiting for someone to buy it from them……they are the investors…sneaky sneaky…well when I told them this we were to send in our paper work and such…hardship letter etc. They try to say we are not qualified due to not enough income that they ran my husbands pay through an automated tax program and it did not qualify…first off a profit and loss is just that the amount I put down is the profit. We do our taxes at the end of the year..I asked the underwriter if they taxed that gross on 8 dependants because that is how many would be claimed on our taxes…then I asked him how is it we were approved a year ago with less income and more expense and now we have more income and less expense and you are telling me we do not have enough income did they not use the same program last time???? Need less to say the underwriter is going to re-do it, that is who is in charge the under writer and if he is satan in disguise then u will not get the modification…Do your homework people do not let these banks continue to make their own rules…There is no such program as the one the under writer is speaking of…I wonder what he will tell me next….

This is just horrible…if you can’t make the payments they should just reduce the payment by a few hundred dollars and put it on the back end..done..how easy was that!!!! I need help and PNC wont help either!!!

Are the banks helping anyone but themseves? My wife passed away after a long bout with cancer. You can imagine the medical bills, ect. Bank of America told me time and time again that all looked good for help. Now they tell me that it can’t be done. Guess they will have another house. What to you think they are going to do with all them?

My husband and I have been trying to deal with CHASE and we got the same response to {looks good then their decision was we cant help you it looks like you dont make enough to keep your home.} If that was the case why did they take our application and say we qualified for a modification.Something needs to be done !!

Since working with major banks in the US – they are the ones that set the criteria to take your loan modification application…The mortgage companies didnt have anything to do with the “approval” or “funding” of your loan – only the banks did so there is no need to call your mortgage professional since they are not the ones who closed and funded the loan…they were only the representative to put you in one of the many banks that come by their office to use their investors…..trust me, this is how it works.

The biggest and the best question to ask the bank that has you NOTE/Mortgage is: WHO is the investor of this loan program? At that point, they have special software that tells them who it is and whether or not you are elible within seconds of putting your home address in the computer to find out. At the bottom of the page it would let me know according to the criteria set by the bank – NOT the Obama program but the banks themselves! Obama put it out there to use, but the banks tweek and raise the criteria so most that are elible wont be anymore when the bank is done with them.

If at all the investor is not in the US, and we can tell right away who it is, then you wont be elible for the Modification – because outside the US, the investors dont have to modifiy anything here in the US after they used their money to close our loans. So that is WHY they are not telling you or wont tell you and giving you the run around. The Obama program criteria is great, its the banks that are not working with the program, and dont care if you lose you home especially if it has any equity in it! Peace and love. The executives of these banks and lenders should be in jail!

Yeah, I’ve been dealing with EMC mortgage (now own by Chase) for about a year and a half now. They said I qualified for a mod. They even gave me the trial period. After the 3 months of paying for the trial, they denied me because of low income. They keep on giving me the run around. It sucks how big banks don’t give a s***.

I did try to work with my bank as well CITYMORTGAGE and nothing!!!…I will definetely advice to everybody here is to stop playing with these banks and get a lawyer!!! now they are good lawyers who charge only $1000.00 for the whole process no matter how long it takes. If the process last one year or more imagine how much money you will be able to save every month since when the process starts you don’t have to send any paym until your loan modification is done! Save that money dont send it…after all you deserve a break for all the damage the banks caused to you!!! GOOD LUCK to all of you

I experienced the same thing with Chase an I know I qualified for loan modification but I was told my hardship wasn’t enough and that they really give them to people who are disabled. As soon as I can fine another lenders Chase Bank can go to h*ll in a hand basket.

i have been waiting for a losn modification from GMAC for over two years already, and still waiting, I was approved originaaly back in June 2009 then denied my modification because we file for chapter 13, once again we re-apply and they kept lossing my paper work several times, after the info was sumitted about 20 times or more they approve me, but never send the final approved papers. I was denied again supposely because they never received all the requested info. it’s june 2011 and still waiting for an answer, I am so tired frustrated and stressed out. I don’t know what to do if anybody can help, will be very much appreciated. or should I just let the property go?

From the bank’s point of view, just because your home value has decreased, doesn’t qualify you for a loan modification. If your income hasn’t decreased, you can still pay your loan. The bank didn’t force us to take the loan out in the first place, and it is our obligation to pay it back. I’m amazed by the amount of people that want a loan reduction simply because their house is worth less. Join the club, we’re all in the same boat together, and those people that are just walking away even though they can afford their payments, are ruining it for those that are truly in need of assistance.

I have loan with Pennsylvania Housing Finance Agency (PHFA). I have applied twice for loan re modification but they denied both times. I have been unemployed on and off and during my unemployment it become very difficult for me to keep up with mortgage and other payments. I am keep borrowing money from Credit cards to take care of the bills. I am unemployed again and recently I called again before I apply again but I got similar response from PHFA.

And Obama gave our tax dollars to pull these banks out of the mess, and least we forget to pay the ceos bonuses! Why didnt that money go to home owners who are in default or behind on payments. They are ruining America and the housing industry. Empty homes the banks hold on to until they become eye sores and drag everyones property values down to nothing. Why are they allowed to control our very government?

We work with bank of america for over 2years now. they offered us a trial payment we couldn’t offord back 2010. now we have been submitting package for mod ever since it’s now 2011. after a year run around, they say we do not qualify for modification because it’s been over a year we hadn’t made payment. but maybe for ” in house program modification” which worst than gov’t program. since frastrating and depressing our family…having to worries month after monther for this long. Anyway you might want to try getting help from HUD.org or HOPE …just google for their website. if they can help you that is.

I am trying to help a friend in Montana modify his mortgage all to no avail. BOA is saying that after 1 modification in Oct 2007 and again in Aug 2008 that he does not qualify for another one. I was advised that you were allowed up to 3 modifications for the life of the loan but BOA is ABSOLUTELY REFUSING to help.
Can ANYONE suggest ANYONE I can call to try to help save his home?

yes i can help with boa borrowers that are having problems receiving a loan modification.

With the new Affordable Loan Refinace, anyone have any luck? I tried doing HAMP 1st. I live way under my means, increased income, now GMAC offered coupons with small print stipulations. Plus, my loan is Fannie Mae. Now it’s the choice between Chap 13, Chap 7, trying to get lower modification since interest rate are low. I can’t get anyone real estate agent, lawyer or GMAC to give me straight talk. I’m currently getting my teaching degree, a year and half away from that goal. Crooks at every corner making a buck off my problem.

http://www.makinghomeaffordable.gov

An official program of the Departments of the Treasury & Housing and Urban Development

Free counseling and advice and probably help to ensure you get what you qualify for.

Maybe they can help with possible enforcement?

Yes bank of america is giving me the run around and have been for the past 5 months. They keep sending me letters with every excuse on why its taking so long. I think what thenbanks do is wait till your so far behind that they can foreclose on you so they can get their money from u by force rather than what “Obama gave them as a bailout” form of kindness.. Its to me the big conspiracy that i am sure they all plotted before the billions were disbursed. So infile a complaint with the BBB… We will see if they even help. Suposidly if they do…they have the ability to report it back to the government.

What do I do if my loan is not thru a bank and it is a mortgage broker? My loan is not thru Fannie May or Freddie Mac so therefore no bailouts for me. The mortgage broker refuses to give a loan modification and they said that they cannot sell my loan to another mortgage company. Anybody suggest any options that I can do other than walk away from my loan?

Just walk, the American dream is dead, our elected officials sold us out. I do mean both party’s we are nothing but cannon fodder to the banks. Unless your income in America is greater then 200,000 per year, Your in trouble. My wife and I bought a modest little home for 140,000 in 2005 even though my income was a six figure and hers was a 45,000 per year, we wanted too make sure if something unforeseen were to happen that we could still pay the Mortgage. So we stayed away from the 250,000 to 500,000 price range. Unfortunately I suffered a stroke when I had just turned 40 in 2007.The company I worked for decided to let me go since my recovery was not as speedy as they would have liked (That’s another can of worms I will spare you). fortunately by the grace of god I got a Job at 1/3 my former salary in 2009. Then in 2010 I suffered a TIA at John Hopkins after a hernia operation. I still have my job but we got behind on our bills due to the medical cost and then later that same year our daughter was diagnosed with MS and Charcot-Marie-Tooth disease. Even with my company insurance and help from the pharmaceutical company the Copaxone cost 1500 every three months. So we are trying to stay afloat and pay our bills, but everything is just messed up. We know a couple who just quite paying everything and now are getting so much help it makes my head and wife’s head spin… Mortgage adjustment to 3 %, house hold utilities adjusted to near jaw dropping rates, smart cell phones with a cell phone plan cheaper then our non smart phone rates, they just bought a used 2009 Toyota car and a 2007 Dodge suv. Can somebody explain to me how working hard and paying your bills is now the wrong way? If I didn’t have a family to care for I would take a gas nap. The bank wont work with me so Im at the point of taking a FORGETITALL and walking.

Wells Fargo told me that I had an RSI loan backed by “investors” and not the govenment, so I was not qualified for any type of home modification loan. No more said.

Try looking up RSI loans on the internet and all you will find is another person complaining about the same run-around from guess who….Wells Fargo.