Jump to content

jmw1212

Members
  • Content Count

    859
  • Joined

  • Last visited

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Lawyers like to do that so they can justify charging you. They can't do anything for you that you can't do for yourself for free. I'm not advocating fighting a lion with a pixie stick but, I'm also not advocating hiring an attorney to speak with your bank on your behalf when you can have the exact same conversation for free. Record the conversation but, if your state requires it, inform them that you are recording it and see if they will continue the conversation knowing they are being recorded. THEN get your attorney involved if what they tell you is bogus or a lie. One of the things in my state that is interesting...if a borrower hires an attorney, "For the purposes of delaying a legitimate foreclosure action" I do not have to review the borrower for any alternatives to foreclosure and can go straight to foreclosure. The argument will be "who says they are trying to delay it, who says its legitimate". My point is, attorneys don't always add to the situation and many times they work to the detriment of the borrower. I understand how that can seem to be counterproductive. Attorneys are supposed to help level the playing field. No bank is going to reach out to an attorney to "Discuss" the situation. Once an attorney is engaged, everyone dots their "I"'s and crosses their "t"'s. That's a good thing right? Maybe. What I see is that no one engages and everyone covers their flowers and if the rules say you have 6-8 weeks for resolution, they are going to take 6-8 weeks. If the rules say you must review a borrower for X or consider Y, they are going to review and consider but beyond that, they aren't going to do anything other than what they are required to do and if you only want them to do what they are required to do, have at it, have your attorney do it all but last time I checked, other than the too big to fails (Chase, CITI, Wells, BofA, etc.) and only in certain states, no one is "Required" to do anything for you. Many lenders simply state, "Investor does not participate" as the reason for a denial on any mod. Don't get me wrong, if your lender is doing something wrong, or if they are in a state or subject to any rules that require them to assist you, go for it but short of that, you put yourself into a position where you can fastrack a denial and subsequent foreclosure action. Based on what you wrote, sounds like you didn't have anything wrong happen to you other than, you stopped making payments. Just my two cents. Kuuner, She is in a non judicial state (NY) so the foreclosure can be halted by a lawyer, so that's what she did. I really don't know much about the law up there, but I know that much. I do agree that if your lawyer isn't working for you, nothing will get done. When we filed bk7 personally because of our business, our lawyers dealt with our banks holding the mortgages. I still had to do work to try and save my home though, the lawyer didn't do anything for me as far as that went. They simply said, "Do you want to keep it?" I said yes, they said: "Then you can call the loss mitigation dept and see what they can do for you, but don't do a refi as that will make you responsible again for the cancellation of debt, a loan mod is ok as long as you don't refi. This way you keep your home, if you default again you can walk away, if you don't you can keep it, sell it whatever, but you will never owe them the difference of what they sell it for vs what you owed" (That's because our home was discharged in bk7). I was able to work with them directly to get a loan modification. They were and are still not able to contact me via phone (do to the automatic stay in BK) but now since I am working with them again they are able to contact me for missing documents as time is of the essence. paintpalomino, (my dear friend) I have an idea for you. I think you should contact your lawyer and your bank, but first get a free consultation from another lawyer. Perhaps someone here could recommend a good one in NY for you. Also I know we haven't talked about loan mods much, but have you been told about HAMP? and do you know who the investor is on your loan (IE. Fannie Mae, or Freddie Mac?) They have different criteriors for loan mod programs. Perhaps you would qualify for HAMP (Making Home Affordable Program) I am glad you posted here, as sharing our stories with one another helps to open doors of options that we would never have found by just speaking to each other Thanks for this group. <3 you all...& Praying for my friend. Thank you.. JMW....not exactly. New York WAS a non judicial state. It's now a judicial state. Maybe that's what you meant, that it's judicial. Judicial REQRUIRES court action for foreclosure versus the non judicial which uses the power of sale clause in the note and does NOT use a court action. All New York foreclosures use court action these days which is all good and well for a foreclosure but that's not what we are talking about. At least it's not what I'M talking about. I'm talking about a loan mod. Yes my bad, I meant it was judicial. And yes she is looking for a loan mod, the lawyers don't help with that.
  2. And I need to work on that too. I've heard that T1 kids don't qualify, but I should try and apply. thanks
  3. Hi all, so I received my trial modification papers today, yet my home is still going on the courtroom steps and being advertised in the local paper until 72 hours prior to April 5th. Even if they receive these papers back in two days from today, they said they wouldn't stop the sale until 72 hours prior. Wonder why? I am thinking the quicker I get these papers back the better the chance it's not in next week's paper again. Also, as I am reading the papers they sent me, it states we owe $4300 of back escrow that we will either need to pay in full after the 3 month trial plan or roll it over into 60 months of payments (which would be our only option financially) So I also noticed that we were approved by the HAMP program, (we didn't qualify for that one the last time, so not sure how we do now?) thoughts? So I am guessing this is why my loan mod had to be approved by fannie mae? Rewind...Last time they rolled all the past due to the end of the loan and made a "pretty" balloon at the end...So this time it's looking like our lovely government is the one modifying. Last time there were zero loopholes, we paid the three payments on time, loan was modified perm after three months, no issues....This time, not so sure...I am reading things here like after the three months of on time payments, "IF" we still qualify" we will be considered for the permanent loan mod, as long as things have not changed! So what that tells me is...Did I just buy us 3 extra months, but I will have to pay for with no guarantee that we can keep our home? WOW! ...Our latest story in two sentences..... So Hubby lost his job Nov 2014, while looking for a job that could pay our bills for a year. I applied and was approved for a forbearance to give hubby time to find a decent job..Fast forward to Nov 2015, he found one, but the pay was about 40% less than the last job. So the forbearance ran out Dec 1st 2015. At that point they informed us we had to come up with 8 months of mortgage payments by January 1st or our home would be back in foreclosure, this time full time, with a sale date. I desperately gathered all the information I could to try and come up with a plan, I contacted Loss mitigation and with all due diligence was approved for our second and final loan modification within weeks to spare...It's just 2 weeks before our home would be sold off on the courtroom steps. I will call PNC tomorrow to discuss the details, but I want you all to understand that you can't just sign the papers, or assume the lawyers handled it for you, you have to get on the phone with loss mitigation and take things into your hands. Saving your home, is almost like saving your life. You will do everything possible to keep your humble abode sacred and within reach. The difference is saving your life means you will always see this beautiful day again...Saving your home means you will always cherish precious memories here again <3 Prayers to all to save our homes because as I wrote in my hardship letter to PNC..."This is our home, it's not just "a house" and we intend on living out many more precious memories, dreams and we pray daily we can continue to call our home...home <3" ~Janine Wren
  4. Lawyers like to do that so they can justify charging you. They can't do anything for you that you can't do for yourself for free. I'm not advocating fighting a lion with a pixie stick but, I'm also not advocating hiring an attorney to speak with your bank on your behalf when you can have the exact same conversation for free. Record the conversation but, if your state requires it, inform them that you are recording it and see if they will continue the conversation knowing they are being recorded. THEN get your attorney involved if what they tell you is bogus or a lie. One of the things in my state that is interesting...if a borrower hires an attorney, "For the purposes of delaying a legitimate foreclosure action" I do not have to review the borrower for any alternatives to foreclosure and can go straight to foreclosure. The argument will be "who says they are trying to delay it, who says its legitimate". My point is, attorneys don't always add to the situation and many times they work to the detriment of the borrower. I understand how that can seem to be counterproductive. Attorneys are supposed to help level the playing field. No bank is going to reach out to an attorney to "Discuss" the situation. Once an attorney is engaged, everyone dots their "I"'s and crosses their "t"'s. That's a good thing right? Maybe. What I see is that no one engages and everyone covers their flowers and if the rules say you have 6-8 weeks for resolution, they are going to take 6-8 weeks. If the rules say you must review a borrower for X or consider Y, they are going to review and consider but beyond that, they aren't going to do anything other than what they are required to do and if you only want them to do what they are required to do, have at it, have your attorney do it all but last time I checked, other than the too big to fails (Chase, CITI, Wells, BofA, etc.) and only in certain states, no one is "Required" to do anything for you. Many lenders simply state, "Investor does not participate" as the reason for a denial on any mod. Don't get me wrong, if your lender is doing something wrong, or if they are in a state or subject to any rules that require them to assist you, go for it but short of that, you put yourself into a position where you can fastrack a denial and subsequent foreclosure action. Based on what you wrote, sounds like you didn't have anything wrong happen to you other than, you stopped making payments. Just my two cents. Kuuner, She is in a non judicial state (NY) so the foreclosure can be halted by a lawyer, so that's what she did. I really don't know much about the law up there, but I know that much. I do agree that if your lawyer isn't working for you, nothing will get done. When we filed bk7 personally because of our business, our lawyers dealt with our banks holding the mortgages. I still had to do work to try and save my home though, the lawyer didn't do anything for me as far as that went. They simply said, "Do you want to keep it?" I said yes, they said: "Then you can call the loss mitigation dept and see what they can do for you, but don't do a refi as that will make you responsible again for the cancellation of debt, a loan mod is ok as long as you don't refi. This way you keep your home, if you default again you can walk away, if you don't you can keep it, sell it whatever, but you will never owe them the difference of what they sell it for vs what you owed" (That's because our home was discharged in bk7). I was able to work with them directly to get a loan modification. They were and are still not able to contact me via phone (do to the automatic stay in BK) but now since I am working with them again they are able to contact me for missing documents as time is of the essence. paintpalomino, (my dear friend) I have an idea for you. I think you should contact your lawyer and your bank, but first get a free consultation from another lawyer. Perhaps someone here could recommend a good one in NY for you. Also I know we haven't talked about loan mods much, but have you been told about HAMP? and do you know who the investor is on your loan (IE. Fannie Mae, or Freddie Mac?) They have different criteriors for loan mod programs. Perhaps you would qualify for HAMP (Making Home Affordable Program) I am glad you posted here, as sharing our stories with one another helps to open doors of options that we would never have found by just speaking to each other Thanks for this group. <3 you all...& Praying for my friend. Thank you..
  5. Hi dear ol friend and glad you joined. I just thought of something after you posted this. You could file for bankruptcy chapter 13. That would allow you to refinance and start over. We did chapter 7 because of our business, but 13 may work for you. You can post this in the bankruptcy part of this forum and ask there, but many here also may know about that option. Hopefully someone can help out.
  6. UPDATE: WooHoo! I just got word we were approved for the 3 month trial payments, then after 3 months of trial payments we will be converted to a permanent loan modification. They are cancelling the sale date of our home Prayers answered. They also lowered our monthly payment by $200, so our payment went from $1440 to $1221. This will be our last loan mod so I really hope and pray we don't get behind again. I think we will be ok, Hubby just got a raise and so did I and we are both working extra hours, my part time is closer to fulltime (only when we are busy though) and he is getting overtime after his fulltime hours.
  7. I am still waiting to hear final outcome, I will hear this week. Biting my nails, and praying hard.. <3 you ALL. Thanks for all the support. I will check back and let you know how it goes. I had to resend in something again today.
  8. UPDATE: So before I tell you the update I wanted to say that the forbearance plan was that we don't make any payments so my husband could find a job, when it ended we had to reapply for a loan mod to bring the loan current. So I just got off the phone with PNC and they have sent a trial plan to Fannie mae for approval and I should know the answer by Monday, but she said it looked very good and that they didn't want to foreclose. She said they would postpone the sale date while I make three trial payments. Once completed, they will send me the final loan mod papers and at that point they will remove the foreclosure. I'm praying it all works out, as of now things are looking up. Praying hard for a final approval on Monday. I will update then. Thanks all
  9. Sale date is in less than 4 weeks! We have raised our children in our home. We built this home. We have lived here for almost 20 years and now within 4 weeks we have to move out everything and have no place to go! With two young children, one is a type 1 diabetic, can die if he doesn't have his insulin. No fault of his own, an auto-immune disease. Just searching for answers and ways to save our home. Help!
  10. We did qualify for the loan mod, and accepted the terms. We paid promptly for about a year or so, then my husband lost his job. He had been working for his friend and his son decided he wanted his job back, so it was my husband that was let go. After that my husband started working sub jobs again, this time for nascar teams (we have connections) The problem was they were only every once in a while. Here and there. So we got behind. I started working part time for my friend for her retail store and that got us barely through 2015. So I reapplied for a loan mod and was approved for a forbearance for a few months until he could find full time employment. He finally was hired full time with all benefits this past November 14th 2015. The loss of employment forbearance ended December 1st 2015. So we thought we only had to come up with one late payment but Jan 1st, when in fact, it all had to be brought back current. (we were not told that by the rep that approved our mod) So here we were back in default. We are now in full blown foreclosure with (for the first time) a sale date! I am freaking out!
  11. Hi all, so I finally figured out how to get back into my account here. So I have some really horrible news, after some really good news. I need some support and advice ASAP. So yes my husband was in a deep depression after losing our company and then his next job. Things got really bad before they finally got better. So he was hired this past November 2015 fulltime, I am still working for my friend and not only got a small raise, but working more hours. During busy seasons, I was even making overtime. So we had our loan mod till December 2015, he was hired literally two weeks prior in Nov. So I had to reapply to get another loan mod after Dec 2015. That's when our mod expired. So I did. I've sent in all the new income. (not making as much, but now with both it's getting closer) Today they informed me we have a sale date. April 5th. (ironically the same month of my 50th birthday, as I always dreaded this year because my Mom was diagnosed with breast cancer this year of her life (passed away at age 57), had a scare again a month ago too, but they say they will recheck in 6 months) So I am beyond devastated! Georgia is a non judicial state, they will evict us after the sale date. We built our home in 1998 and have that many years of stuff. Along with all my parents things.... No way to pack up and especially with no place to go. My son remember has the deadly disease of Type 1 diabetes and without his insulin, and carbs, he will die.... Please help us. Need advice asap!
  12. Oh BTW some dude showed up at my house today knocking on my door, only to leave a yellow note that tells me to call PNC. Scared the crap out of us, (here alone with my kiddos) I didn't answer the door, but watched out the blinds as he took photos of the front of my home. Guessing he was hired to make sure we did in fact live here. Do they really think I would care so much to save it if I didn't? Geeze Oh and thought that they couldn't do that after a discharge in BK7.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines