Mortgage Modification Help Available
don't give up on getting help with out asking for it
Help yourself by seeking help dealing with the Big Banks
Are you one of the millions of people facing the possibility of foreclosure on your house? Have you tried to talk to your bank about a loan modification only to half to file paperwork over and over again? The first thing you need to realize is that you signed the contract, so the bank doesn't have to do anything if they don't want too. But, if you are in a situation that you think with the right option, you maybe able to save your home there are programs. One of the programs available is the HAMP (home affordable modification program), a program mortgage companies can use to help if you if you qualify. But, I will be honest with you, mortgage companies can be really hard to deal with, especially if you are self employeed or don't have record keeping abilities, remember they are accountants and bookeepers and expect you to provide proper documentation.
If you are in the process and feel that you haven't been treated fairly, let me tell you about a little known way to get help and speed up the process that could possibly work for you, it does require a little work though.
The following letter sample you find in this article is the letter I used to send to my US Senator to get help. I don't know about your particular situation, but in mine, it shook things up quite a bit. My senator actually wrote me back and offered to work on my behalf thru one of his aids. I really couldn't believe that a United Senator would actually read my letter, must less offer any help, but they did. I think that a lot of people don't realize that they will help, so they just don't ask.
After a request for personal information release and another letter updating my situation, they contacted the Office of the Comptroller of the Currency on my behalf. Needless to say, this woke up a bunch of people at my mortgage company. The day before Thanksgiving, received a call from the presidents office of my mortgage company offering over night a package, and promised that once returned that would have a answer within seven days. Offered me contact numbers at the home office rather than the local people that I had worked with for six months with the go away attitude.
This time if I don't get the response I want, I have someone on my side that I can turn to. Will this work for you? I don't know, nor can I know how your representative will act on your behalf, but as for me, I actually feel like that someone actually cared about me for a change, instead of the special interest groups. Thank you Senator Johnny Isakson and Constituent Services Representative Tyler Edwards for all your help.
I changed the name of the Mortgage in the letter to protect myself from any liable issues, and this is just an example of a letter that you can write yourself to explain your situation. I really think that if more people would stand up, that more help would come without the need to do this. But, as long as the big corporate banks think that you will just give up, throw in the towel and go away, they will continue to treat people like they want to with out any regard to each personal situation.
So, please fight for what you think is right. If you are not doing your part don't expect a free ride, but if you have a legitimate complaint, don't keep it to yourself, tell someone. Who knows it might just help.
Good luck and best wishes.
Make sure you look up your Representative local address not his address in Washington. The local office has people there that work for him that will be easier to get in touch with than anyone in DC.
state and zip
Your senators name
Your senators address
state and zip
Dear Senator Fillin Blank,
I am writing to describe a situation that has been going on for several months between my current mortgage company and me and my spouse. In the age of all the problems in the world this is probably the most insignificant problem you will deal with today. But, with that being said, I must inform you of what has happened and is probably happening to others as well.
Back in March of this year, 2011, I was diagnosed at the age of 51, with throat cancer. The cancer was confined to my tonsils and lymph nodes and I attempted to handle the problem promptly. I looked at all options and decided on surgery to remove as much as possible and chemo and radiation to handle the remaining amounts. Surgery was on April 5th, and after a port installation in my chest, I started on a six week regiment of radiation and chemotherapy. During this time, I was considered totally disabled and unable to work. Being self-employed and unable to continue to work was a going to create a great financial strain on my family; my wife, a 16 year old son and 17 year old niece that we raise.
Asking for help not a Handout
During the time period of my dealing with cancer treatments, me and my wife used all our savings to pay bills and get by. Starting in May 2011, we contacted our mortgage company, Blank Bank Home Mortgage, about a possible loan modification due to medical conditions. My wife worked tirelessly to provide all the required information that they requested. She would fax updated financial statements, check stubs and my business statements to their representatives. With every effort that we made to abide by each request for paperwork, we would do our best to provide the requested documents.
At the time we were working with the mortgage company, we were current on our mortgage payments and had never missed a payment. What we were asking for was possibly a loan modification where they could work with us to reduce payments by either reducing the interest rate or some other method. What we got was just a bunch of request for updated paperwork every month and never any indications of what they were willing to do to help.
Actions of Last Resort
As a final resort my wife has decided to refinance our house through another company and absorb the high closing cost associated with refinancing in her own name. On approximately, October 28th, 2011 we were contacted once again by Blank Bank Modification Division, only to ask for updated paperwork once again. This is when we informed them that we trying to refinance the home loan and would not be seeking further assistance from them.
Even though we will have to pay a high closing cost to refinance, this will allow us to skip a couple of payments during the transfer period and maybe by then my social security disability checks will allow us to make the payments and afford us the opportunity to stay in our house.
At this point all the savings we had before my sickness has been totally depleted and financially we are on the edge. But we will make it thru this with God’s blessings and hopefully I will able to return to work soon, even if on a part time basis to help my family thru this most difficult period.
Watching the Wall Street protest on television somehow I can almost understand where they are coming from. Even though a lot of the protestors don’t have a clue as to why they are even there, it’s just the thing to do, and I feel like at this point I should almost join them.
I understand that the banks and finance companies don’t really have to offer help to anyone, but when these same banks and finance companies accepted tax payer money to save their company, the rules should be applied equally. If we help them, they should help us.
I was never asked as a tax payer if I was willing to help theses big companies with my tax dollars, but it was taken from me and their companies were rescued. But, it seems now that I needed help from theses same companies, the help was not there and every excuse in the world was used to see that I never benefited from any help available.
I know that there is not much any one Senator can do, with Democrats still in the majority and Obama still in the White House; I feel I am just a silent voice in the world. No one really cares; they say they do, but not really. It’s all a big game and the working people who fall off the board are left to fend for themselves, and as the world continues to turn as so does the trouble that people find their selves in through no fault of their own.
I didn’t ask to be sick and I never saw it coming. But, for everyone like me that has worked their whole life and provided for their family, there is another that has never worked and sucked of the public dole the entire time, learned the system and lives comfortably off the rest of us.
Through the past six months I have learned a valuable truth, there is no help, just promises of something like it for the people who play by rules and work hard. Blank Bank Home Mortgage is just another example of a company that is more than willing to accept your hard earned dollars every month, fill you with hope when you need help, then ignore you until you are desperate enough to go elsewhere.
Now, on top of the promises that were never kept, they send me paperwork that is just an outright lie, it’s seemed to cover their own tracks for lack of a better term. To claim they made an offer that we refused is just a way to make them unaccountable for their lack of compassion or action. I refuse to be an escape goat for incompetent people that can’t make a decision.
CC: your mortgage company
Once you have wrote this letter: attach any and all correspondence you have had to back up your claim.
Take it to the post office and mail return receipt request, and you should hear something within a week, if not you may follow up with a phone call. Good luck again and keep fighting.