HAFA, HAMP, HOPE and HELL - Your Banks Working for YOU

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

http://www.youtube.com/watch?v=mhAdGVPT1sc&feature=player_embedded

If you have not seen this... this is the way our bank operates for trying to help people. I have not verified that is real but assume that it is fairly representative. Our experience of going through hoops for other programs is very similar.

3 things to do when talking to Mortgage Holder or BANK

1) DO NOT go delinquent in order to try for modification. Get a forensic audit and negotiate with the bank BEFORE going late. THIS IS IMPORTANT the bank will tell you that you cannot modify because you are not deliquent. Once deliquent they will start modification process. PAY THE FULL amount paid previously, even if offered lower payments. Just trust me on that one.

2) Do not believe them when they say they will call back or fax you. Call them weekly.

3) Start a file with all details of conversations and all contact numbers. Keep computer copy and paper copy

The thing is home modification offers are temporary and take time. The temporary trial modification lasts six months. You should not hire a modification company, spending thousands as there are many scams out there. Instead try to find good advice, perhaps consulting with a couple of different attournies. Bankruptcy if you are too far down the road in payments can be useful solution that a SKILLED lawyer can help negotiate saving your home for you.

Check out websites about home mortgage fraud and the laws of TILA and RESPA.

Our fight for main home! WE are going to trial

Exploring all options. it looks as if the trial we requested is our best option. It is intimidating knowing that you cannot afford a lawyer that has the experience and ability to give credence to your case. It is VERY INTIMIDATING to realize that you are going up against the largest and most powerful lawfirm in the state, dealing with mortgages, foreclosures and evictions.

Where we could get real help with the law is too expensive or not available. The lawyers that KNOW what they are doing are few and far between and cost a fortune IF they have the time available to take you. We have no doubt that if we could afford 5-10K to save our homes we could. We have found lawyers in last month than what we could find available earlier last year. Last year it seemed all the lawyers encouraged bankruptcy. Maybe we learned to search better.

If you are facing any problems with debt fraud, home mortgage foreclosure or unlawful collection practices, you may want to check out the legal referral pages at NACA.com.

Best wishes to you, and post here if you want to share your experience.

UPDATE to BANK INABILITY to answer a simple question

UPdate and please read the post before this to understand: I called the bank back, uneasy because of my inability to get information. First I was transferred to wrong department, the previous direct number was discontinued, one call was cut off and finally a transfer to the RIGHT part of loss mitigation customer service that could actually help me.

In talking the guy started out rude but as I explained he softened and said Maam the reason you didn't get the fax is that they requested the wrong payoff information. OH MY GOSH. are you KIDDING ME... and then he said the fatal words " I requested the right fax and it should be there in about 7 days" I to my shame folded and slightly raised voice, are you guys CRAZY??? The buyer has alrady waited one week.

Not only that they raised the estimate of pay off about 5K . Not sure what will happen so stay tuned as these are truly, "The days of our lives"!!!!!!

Banks and efficiency - loan foreclosure specialists

Well this may not be news to some of you, but getting through to a live person and receiving information about your account is harder than crashing a party at the White House.

First you verify your account with the recorded greeter, press your number and speak to a live representative. Sounds easy, doesn't it?

NEXT you have the great joy of verifying all over again, your account number, full social security number, your name, mailing address, property address with zip code and any phone number. If they still doubt you then they ask if any of the numbers are cell phone.

All this just to ask full payoff. If a lawyer has become involved then those fees are added on and they can't tell you over the phone. What the heck? They have taken you through security, verification, stripping and still can't tell you information on the phone? Our loan foreclosure SPECIALIST ordered a request for another fax to be sent. Now you may not realize it but we have had a couple wanting to buy this place for 2 weeks. In fact, there have been two parties interested in buying the home. The reason I wanted the payoff amount is to sell the place. So, I asked the representative if we could call the buyers and send a fax of payoff to them also. Patiently the representative waited, as a three way call was initiated with the potential buyer, to fax the information to them as well. There should be no room for errors now unless the phone and fax lines all over the country go down.

We have now called 3 times in the space of a week and a half. Today, after 5 minutes of being preapproved to talk about our account; they said the fax had been sent and sorry they could not tell me over the phone the payoff. It's not allowed. Further it would be another two days so probably Wednesday since today is Saturday. For crying out loud, my buyers have already had to wait 1 week longer than they wanted for an answer.

I'm asking the bank to remove lawyer charges, on the basis that the lawyer acted prematurely during the time the bank said it was working with me and would not start the process. But initial reaction is that would be a short sale. I find a buyer for the full amount of loan (miracle) and they want it considered a short sale???? To those that don't know, a short sale means even if you can recover financially you cannot buy a house for about 2 years. If you sell in full you will be able to buy again as soon as you recover financially and credit wise.

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This house we did not want to sell, it is our rental house that we wanted to retire to. It had good renters and while it did not make us money it was a goal for the future.

Does anything here sound crazy to you - or is it just me?