I don’t know if I mentioned it but I had called just the day before I received this FedEx package with the proposed modification of dubious merit and I was told By Sara that I had been out of underwriting since July 1 when Joe Calderon who was calling me from there but who now NEVER RETURNS CALLS (that instills confidence that they are there to see you through and now at this critical time disappear).  Sara said nothing about there being a package on the way just that UNFORTUNATELY there was no way of knowing when i’d get my answer.  So does she know I had a package in the mail or is this more of the confusion tactics.

I got a call about 6 weeks ago from someone I have written down the name he said he was in the presidents office and would I call ASAP which I did but the voicemail was somebody elses but I left a message and no return call.  Finally I got a new number to call that was left on the old voice messaging and so I called and he said he would have this ASAP person call me but guess what, he never did.  Why call people and say call ASAP and then do this.

Its more of the NOT FUNNY behavior meant to confused.

Our government is allowing this to happen.  And that is one of the most irritating things, Obama says he’s got tough sanctions in place but their not using them so what?

Incidentally as a sidenote, I recall back when I got on my mod trial, the emphasis was really strong on DO THIS ON TIME, don’t miss any dates etc. so you knock yourself out getting it done as needed and then they drag their heels and string it along.  GRRRRR

Sorry, wanted to say also, my payments are consistently credited to my account late by as much as 10 days.  Thats another questionable practice imo.

Jennifer, I assume the motion to lift stay was to proceed with foreclosure.  If you have not already done so, file an objection to the bank’s proof of claim.

A bankruptcy judge has the authority to dismiss the bank’s claim against your house.  You can prove that they do not have the right to foreclosure unless THEY prove that they do i.e. the original note.

There is a time limit to file the objection to the proof of claim.  File it now.  What does your bk attorney say about opposing the motion to lift the stay?

Severe criticism should be targeted at all the corrupt politicians who have allowed this mess to precipitate…it took years to build up the protections for homebuyers and all those laws have been overturned by the larger banks/financial institutions and legislated by those too corrupt to realize they were selling this country down the river. 
UNPLUG from the system….
If you need money or loans go to a local credit union…...as soon as possible get out of the large banks tentacles…..it’s even tough to know how embroiled “local” banks are with the 8 major ones that are literally strangling this country to economic death.

sierra7 - well said.  I have a plan to unplug from the system.  Since I’m not paying the mortgage and taking advantage of my reverse equity theory (staying as long as we can without paying a dime), we have been paying down our credit card debt.  Foolishly used credit cards to keep the mortgage current.  Live and learn.

I will not get any loans in the future.  If we want something, we’ll save our money and buy it. 

I hope many Americans realize that unplugging from the system is the best revenge against the banks, and a way to a better life.

We did get our modification, but we are STILL getting letters telling us about “workshops” where we can complete our modification. 

The right hand does NOT know what the left hand is doing at the big banks.  It’s absolutely AMAZING to me that they get away with the things they do.

The primary reason that loan mods are not happening is the refusal of the 2nd lien holder to re-subordinate.  If a first lien mortgages is modified, the second lien holder has to agree to modification or the second lien becomes senior to the first lien.  In any foreclosure or modification, the second lien or home equity loan should basically be wiped out.  After all, it did originally receive a large interest rate premium for being a subordinated mortgage.

With basically all of first lien mortgages created between 2005 and 2007 under water, one would think that the 2nd liens would be valued at pennies on the dollar.  However, most are valued fairly close to par and are sitting on the balance sheets of…guess who…WFC, JPM, CITI, and BAC.  The very same institutions responsible for the servicing and modifications of the first liens.

# 1 - to all - identify the mortgagee.  All chase victims do, but Chase is not the only one.

# 3 - to all the victims:

—-Contact the FTC - they will assign a case #.

—-Write to your State Attorney General; his/her portal has forms that you can print, and attachments are allowed.  Be sure to put the FTC case number in the complaint.  With enough complaints, his/her office will do something: either penalize servicers, or fashion some other kind of punitive action.

—-cc to:

*Corporate Offices of your servicer

*Comptroller of the Currency

*Your state’s Department of Savings and Mortgage Lending (FTC will provide the numbers for these agencies)

*And last, copy the FTC quoting the original case number.

Be professional and do not let your emotions be apparent.

It is OK to vent your frustration here, but the only way that agencies will take action is when they can no longer ignore the issue.  Let us flood them!!!

It may be good to let propublica.org know that you did (mention your state) so that they can keep track.  They have the tools to do so.

My story extends to 17 months of everything everyone is talking about.  No additional debt.  Started with a credit score higher than 820.  Wells Fargo approved me for the 3-month trial, then a few days before the permanent mod was to take effect, I was notified of a rejection over a fact known to them for more than half of the 17 months and was never a problem before.  Wells ordered six credit reports without my knowledge or authorization and my score is down to 791. It goes on and on.  My story is here only for disclosure. Taking action is what is needed. 

Please do.

Lucy Alva and all who willing to write to CNN .

Just Copy and Paste

http://www.cnn.com/feedback/forms/form11b.html?1

Here is where you can write to CNN
just copy and paste into your web browser

http://www.cnn.com/feedback/forms/form11b.html?1

To Paul - wouldn’t it be in the best interest of the 2nd lienholder to agree to a modification? If the loan is not modified, the homeowner will default.

The first position/bank starts foreclosure.

Most properties are so far underwater, the foreclosure will net the balance of the loan on the first, and probably less than the balance on the first and leaves the 2nd with nothing.

I could be wrong, but it seems like the second would be able to recover some of its money if the loan was modified, the homeowner continued to make payments (based on an affordable payment) and at some time in the future, several years from now, when properties start appreciating, the 2nd lienholder will be in a better position.  If the loan is modified, the homeowner has a better chance of making payments and maybe even has a little money left over to start paying that second again.

We’re trying to figure this mess out at beingmiddleclass.org - please feel free to share your opinions on this forum.

Thanks for that link Gabor.  I just posted my story on that form.

Seems like everyone has gone through the same exact thing.  Seems like they try to exhaust you into submission.  I even had one customer service agent tell me that once the US Treasury rejects my HAMP request I have no recourse.  Of course it was a total lie.  I called another agent two minutes later and she said I was being treated unfairly and she would open a dispute.  Here I am now, once again in an endless loop of intentional incompetency and stalling tactics perpetrated by customer service agents who largely don’t even realize their part in the bank scam.  This country is going to hell in a hand basket.  I am going to call 60 Minutes right now.

Kelly Did you had any luck with 60 Minutes?

Here is another problem with the entire HAMP process or any other process the lenders use. I was just informed of this by MetLife Home Loans my lender, after trying for 13 months now to get a mod. Of course i have been dealing with the same issues most everyone else has,lost paperwork,resubission of same, etc. The bottom line is if your note is in a private investors hands or part of a block of REO, the investor decides yes or no. NOT the Servicer. Gov’t program or not, they can’t be forced to give you a mod, if they don’t want to. Whether you qualify or not. My servicer says they are being told by investors to not modify any loan past 30 yrs. PERIOD And we know they don’t want to lower the interest rate, they lose money. So what next?

Sherman - Metlife is lying to you.  The investor does not have the authority to modify a loan. 

It is in the discretion of the servicer to take a loan out of a pool and modify it. 

The banksters have learned that by simply telling a homeowner that it is the investor who says no, it gets them off the hook.

Propublica reported on this bad faith practice by banksters.  We have posted it too on our forum, a forum where middle class are meeting to start a grass roots movement to save the disappearing middle class.  We’d like for you to join us.

http://beingmiddleclass.org/showthread.php?611-PROPUBLICA

Sherman - MetLife is lying to you.  The servicers have the authority to remove a loan from the pool and modify it.  The banksters have figured out that they can tell homeowners the investor says no and the homeowner has no idea who the investors are, therefore, no way to verify that information.  Propublica did an article on that subject.  Search their website to find it.  It’s good.

I’d like to invite all of you to become a part of our grass roots effort to save the disappearing middle class.  Please join us at beingmiddleclass dot org.

Thanks Lori for your response. I was pretty sure this was the case,BUT how to prove it, and do something about it is another issue. I have tried the political side, ie calling my congressman, & senator. What a joke. They forwarde requests to the OCC, who asked the Servicer what was going on. They then sent me a letter saying that the lender was within it’s rights to do whatever they felt they needed to, under contractual law. IE, nothing was done, the OCC closed the inquiry, as did my senator, & congressman. I live in Tx. i guess my next try will be the AG here, but i don’t hold much hope there either. I wonder what will happen when i have to put my 78 year old mother in a nursing home, & tell my daughter she has to find someplace else to live, because my servicer, congressman,etc. could care less?

Sherman, I know what you mean.  I live in Texas too.  I will be voting against Cornyn and Hutchison.  The AG in Texas is worthless too.  Seems like no one wants to cross the banksters.  In fact, when I called Congressman Mike Conaway, he told me he didn’t get involved in the private sector.  I researched his source of campaign contributors and guess what, they are from THE PRIVATE SECTOR.  I told his aid (he never personally had the time to talk me) that he entered the private sector whether he liked it or not.  He not only received campaign contributions from the private sector, but when his administration voted in favor of the bailout, when the majority of his constituents were against it, he entered the private sector.

I have learned that the majority of the loan mods are given to those who are able to get media attention.  I have heard direct from HAMP underwriters that the bank does not want to be portrayed as throwing a grandma out.  You need to get the media involved in your case.  Propublica is very powerful and please email Paul Kiel and ask that he publish your story.  Contact your local media too.  Let me know if I can help you.

I presently have a permanent modification to sign however since I can’t get any answers about what the figures represent its not doing me a lot of good.  In reference to your thoughts about media involvement I will say that yes, I had a reporter come visit and a segment aired on evening news.  No guarantee it works but I guess it doesn’t hurt.

Attention – all Wells Fargo victims who reside in Texas.  I just received the awaited response from Mr. Greg Abbott, Attorney General.  I sent him my complaint well aware of the fact that he does not handle individual cases, but I will quote him and please pay attention to the word systemically:

“In matters of statewide significance, or when substantive evidence indicates that a person or business in systemically violating Texas law, the Attorney General can take action on behalf of the collective legal interests of the people of this state”

I encourage everyone to download his formulary and send it to him by certified mail.  He needs to hear from enough people before taking any action against Wells Fargo.  YOU definitely WANT to print the article published in propublica.org “New York Jumps Ahead of Feds With Law Holding Mortgage Companies Accountable on Mods” and send it with your complaint with a little post-it-note request to read.

Make sure you carbon copy the Texas Department of Savings and Mortgage Lending but do not forget to include the article just mentioned.  They believe that because of the nature of the bank, it is not their jurisdiction.  However, with many people sending the article it just may help them to find another way.  You have nothing to lose because even if they still feel that it is out of their jurisdiction, they will refer your case to the OCC.  Be precise, concise and professional.  Their mailing address is: 2601 North Lamar, Suite 201, Austin Texas.

P.S. the media only takes a case when there is pressure on them.  I have requested propublica to hear my case twice…, still waiting.

Well people, i have seen the total idiocy of the lenderss & our supposedly elected representatives in their true light. I went back to see my Congressman Mr. Michael Burgess, of course he wasn’t there, so i got to talk with his aide or whatever. I have been thru this process already but thought ok 1 more time. I was informed by this aide, after i went thru the whole story about what,when,why etc. got me in this position, & she looked at me as if i were a total idiot, thyen informed me of this brand new program called short refi opportunity for homeowners in trouble thru FHA. She couldn’t have been listening to anything i said because this program is for NON FHA owners only. She totally ignored or whatever the fact i told her my note is a 30yr fixed FHA loan. DUH!!!! Then to make my day i got some paperwork from my lender saying all they could do was a 5 month forbearance at my CURRENT pmt, adding in foreclosure, lawyer fees,etc with a $17,000 balloon pmt at the end of the forbearance. She claims this is all they can do, & the balloon pmt. is not set in stone, they will relook at a Modification at the end. ?????

Sherman, the “Aide” to your Congressman has a commonly known disorder called Selective Hearing Disorder.  He/she has been trained very well in the art of Looking Like You Care as a result of the hearing disorder.  Both disorders are self-explanatory really.  The last problem is YOU.  Yes, YOU are the problem.  The object of the game is to smooth out the ripples thereby getting rid of the problem and setting a serene facade for the world in which hypocrites/bankers/politicians and so forth live in.

So you fit into their plan quite nicely, all tidied up don’t you feel better?

NOW, YOU on the otherhand, have opposing agenda.  You won’t your voice to be loud enough to cause ripples which will distort the idyllic facade set up by the fakes and phoneys.  Think of this ultimately as a game of King of the Mountain, he who is on top laughs the loudest/longest.  So when they try to shoo you away with stories like the one about the FHA loan program, then while alerting them to the fact that doesn’t apply to you then you go on to say what you need and want and if it isn’t forthcoming that you will leave no stone unturned to get the help you deserve.  Don’t ever appear to be groveling, that’s a trigger for their aggressive/sadistic tendencies to come out and torture you.

Keep notes of all the players moves during the game.  If they don’t help you then take all the notes you’ve been keeping so diligently and use them to write complaints to HUD, you states attorney general, the bank/services who is jerking you around, anybody at all who appears to be remotely connected, you’ve got it all assembled so its really easy to copy the heck out of it.

Don’t give up.  Be prepared for a long drawn out affair that could and should be taken care of quickly but won’t be because the people on the other team don’t have your concerns in mind, they are part of another world they have no contact with.  In fact they are out of touch with reality and actually have this idea that they are “elevated” above you, being the superior beings they obviously are.

So that’s my call on it.  You can get lots of pointers here and other forums saying who did what when and see if it applies do you.  Its not an easy process, BE PREPARED.