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amortgageman last won the day on February 2 2009

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About amortgageman

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  1. You have a serious comprehensive functionality problem within your brain and you need it CHECKed out with a neurologist. Perhaps you can find a COUPON for the neurologist with a google search.
  2. You can send a RESPA letter anytime. Keeping your payments current during the investigation will protect your credit, and the servicer can do nothing about it. Do you have your original mortgage agreement? What terms are in that document? From the surface, it looks to me like you should seriously entertain refinancing as soon as possible. You say you are 8 years into the mortgage on a ten year interest only option. In two more years the interest only loan becomes a fully amortizing loan, which will mean the payment will rise to include principal payments. Since ten years will have expired, the
  3. Do you ever see letters from LPS in your mailbox? That is Wells Fargo's third party supposed lender inspection, however it is not in compliance with fanniemae servicing requirements. What type of loan do you have? Is it Fannie Mae, FHA or VA? That will help as far as possibly getting the fees eliminated.
  4. Lender will require a letter of explanation as to why the payment was late, most likely. The lender will also require proof that the paymnet was made. Also depending on the lender, this could have a negative effect on your credit score (probably 30 points at the least), and could adjust the interest rate on your loan.
  5. Are you saying that Ellen Coon quit the company, and they are still using her signature on the mortgage assignments?
  6. Have her go to the county courthouse and look up the property records on the house. This will show who is on the title. While at the courthouse, she may want to check to see if county property taxes have been paid. If not she may be able to buy the property at a tax sale and take that route. Have you tried to look the loan up on the Fannie Mae website? Look Up Your Loan The MERS website? Was the loan an FHA or VA loan? In a previous post you mentioned that she cannot even afford the utilities, so that pretty well eliminates her staying in the house rent
  7. Actually, any adjustable rate loan is "recast," prior to interest rate adjustments. The new payment is usually sent out a couple of months in advance of the actual rate adjustment. The new payment amount is based on the unpaid balance, new interest rate and time remaining on the loan (to amortize at thirty years). Also I still have an Interest Only 30 year fixed rate mortgage that is recast yearly as well. My interest only payment goes down every year as I prepay the loan. At the end of my ten year interest only option, I do not want the payment shock of a twenty year loan, so I prepay some o
  8. Where was she? Hopefully in Georgia, and if not, maybe your attorney can force her to show proof that she was in Georgia on the day that the new assignment took place.
  9. If you were to use the Home Affordable Foreclosure Alternatives (HAFA) plan, and are approved for a short sale or deed in lieu of foreclosure, then the PMI company will not be able to come after you for a defiency judgment, regardless of the state you live in. During this process, the PMI company must actually approve of the sale. In order to get through HAFA, your mortgage servicer must attempt a HAMP modification first. If you are not approved for HAMP, then HAFA alternatives will apply.
  10. Here is a website that will help determine the NPV test for HAMP modifications. Unfortunately, it is a straight up accept/denial for the NPV test, but you can go back to the site and change numbers to get an approval. Maybe more importantly, it will let you input the information and help get an approval, if you have previously been denied for a HAMP modification, because of the NPV test.
  11. (I pulled this from the HAMP guidelines for mortgage servicers of Non government loans. In order for a mortgage servicer to participate in HAMP, they must also perform the same duties in order to service Government loans (Fannie, Freddie, FHA, etc.) It is a requirement of the lender through the Home Affordable Foreclosure Alternative (HAFA) that the lender must credit the homeowner $3,000 at closing for relocation expenses on any shortsale or deed in lieu of foreclosure. (I pulled this from the HAMP guidelines for mortgage servicers of Non government loans. In order for a mortgage servicer to
  12. I have always used the following guidelines when saving: 1) Invest in 401k to the limits of the company match. 2) Contribute to Roth IRA to the $5,000 limit with after tax income. 3) Begin fillling in with traditional IRA's until the limits are met or I run of money to save (usually I run out of money to save, kids and college now). 4) After all 401k's and IRA's have been maxed, then you would want to start parking your money into annuities. Basically, what I am saying here is there are several advantages within the tax code that will benefit you more than deferring income through an annuity
  13. Definitely a mishap on their part. Check out this article from LivingLies: KISS: KEEP IT SIMPLE STUPID « Livinglies's Weblog KISS: KEEP IT SIMPLE STUPID Finality versus good and evil. In the battlefield it isn’t about good and evil. It is about winner and losers. In military battles around the world many battles have been one by the worst tyrants imaginable. Just because you are right, just because the banks did bad things, just because they have no right to do what they are doing, doesn’t mean you will win. You might if you do it right, but you are up against a superior army with a dubious ju
  14. BMC, I am going to copy your other thread from "Is There a Lawyer in the House" here because you have done some extensive work regarding your mortgage, which can be beneficial to others who may be reading this thread. Since your loan is registered with MERS, use the link below to find out where your mortgage actually ended up, and who actually owns your mortgage. It should show what investment trust or GSE mortgage pool your loan is part of. From there, you can search the investment trust,
  15. Interesting deposition in New Jersey by William Hultman, VP of MERS. He readily admits that there are no employees, only a board of directors. I read the first 80 or so pages, and the best I can get out of it, is that the Members (banks, lending institutions) appoint VP's who carry the authority to sign documents on MERS behalf. Members may also use third party companies to perform servicing duties on the loan, and the third party servicer may also use their third party representatives to perform duties on