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loan modifications

  1. HAMP 101 profile image37
    HAMP 101posted 7 years ago

    <snipped - no links in the Forums>

    Does anyone know anything about HAMP GUIDELINES

    1. nell79 profile image82
      nell79posted 7 years agoin reply to this

      I'm not familiar with that website, but I do know the official government website for HAMP is www.makinghomeaffordable.gov. It's definitely a long process, but there's nothing you can't do yourself and it can be navigated successfully.

      Be careful about who you give your information to outside of your mortgage company, and don't sign anything that doesn't come from your mortgage company. There are a lot of predators out there preying on people who are desperate to save their home. I know of people in my neighborhood who thought they had received a successful loan modification, only to find out months later, after receiving a foreclosure notice, that they'd been making payments to a scamming company.

      I've written an article about this here on hubpages if you are wanting some tips on how to get through this, with a link to my blog that has detailed our experiences through this process (How to Modify Your Mortgage). It isn't easy, but when you're successful it's worth it.

      I hope this helps! Good luck to you smile

      1. gracemora profile image58
        gracemoraposted 7 years agoin reply to this

        Banks are not really modifying anymore. The more money the banks recieved from the government the less they modified. It will take you six months to a year and a half to try and get your loan modified, meanwhile the banks will try to foreclose on you. The banks are getting very sneaky and will take your home through the process of forecloser because the FDIC will give them almost a hundred thousand dollars more then what your house is worth. The banks profit more by taking your home from you and selling it right out from under you. This is why the foreclosure rate is at a record breaking high.

        Banks were bailed out, now you must find a way to bail yourself out! One of those ways is choosing to sue your lender and get the modification you truely deserve by forcing the bank to modify. <snipped - no self-promotion in the Forums>

        1. nell79 profile image82
          nell79posted 7 years agoin reply to this

          Banks are modifying, though you're right that it isn't easy and it does take a while. It took us 18 months, but we got it done. They never tried to foreclose on us in that time because I stayed on top of things and got my case escalated when I wasn't happy with the way it was being handled.

          A great forum to find other homeowners in the same situation as you, and to hear about the HAMP successes and yes, failures too, is <snipped - no links in the Forums>  I got a lot of useful tips and information from the moderators and homeowners posting there.

          I'm leary of any website or phone number given with the offer of handling things for you without having it thoroughly checked out with the Better Business Bureau (www.bbb.org). Be careful who you give your information to.

          Is it easy? No. But I'm living proof that it can be done.

          1. gracemora profile image58
            gracemoraposted 7 years agoin reply to this

            I know sweetie but the chance you took that others took and the banks did foreclosed on them. Them banks are heartless and they are doing it for Christmas and they did it in November for Thanksgiving and they stink and fighting back and not taking the chance to have them take your home is all that really matters. Congrts on your loan mod...my props, but thank the man upstairs too... Grace

            1. nell79 profile image82
              nell79posted 7 years agoin reply to this

              Oh, I definitely know I have God to thank for helping us through all of this smile

  2. HAMP 101 profile image37
    HAMP 101posted 7 years ago

    Thanks for the feed back and information, I try to keep up with all the news and changes but its hard trying to see what changes are happening unless you are dealing with real peeps who have been through the process. 

    Hope you all have a safe holiday!

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