Rolling 60 Need help ith QWR

[Dagwood]

Hello 1st time on .

having problem with mortgage . did a loan mod back 1/09 lowered .25 was 8.2 to 7.95 orig note was 172k now 182K the loan mod actually made payment a little higher . so same problem exists . cant make 1700 a month payment wife stared new job making 30500 i was laid off in july 600 aweek unemployment .

we have no original loan docs should i do QWR also forensic audit . trying to just keep head above water , married ,3 kids worried sick about losing home Please Help

[admin]

I'm moving you to the mortgage forum.

[2ndTimeAround]

Hello 1st time on .

having problem with mortgage . did a loan mod back 1/09 lowered .25 was 8.2 to 7.95 orig note was 172k now 182K the loan mod actually made payment a little higher . so same problem exists . cant make 1700 a month payment wife stared new job making 30500 i was laid off in july 600 aweek unemployment .

we have no original loan docs should i do QWR also forensic audit . trying to just keep head above water , married ,3 kids worried sick about losing home Please Help

Thanks K for re-posting - (note my 500th)

Hi Darrell - welcome to the forum... Due to the rules of this forum, I cannot advertise my services.

I understand what you going through...

Right away forget about doing a Forensic Audit, someone is trying to sell you something you don't need (if you want you can do later). What they do is give you a report on your loan. If anything does turn up, you would still need to get an attorney to sue to lender. You can not afford that right now, so get that off your priority list.

Most mortgages can be modified only once a year, there are some loans that can be modified once in the loans life time, and there are certain government loans that can not be modified. Ultimately it is up to the lender to approve a loan mod.

You probably gave your lender too much information and they said you can afford the payment at 7.95%

Also you probably didn't describe a hardship - as needed to describe your hardship as DEFAULT IS IMMINENT.

Right now your options are few, you can get all your information straight and resubmit your modification back to your lender. You need to request all arrears to placed on the back end of the loan. Chances are you accepted their modification and are now in a probationary payment plan. If you mess up on the plan, they can file foreclosure paperwork without notifying you.

The other option is get a Mortgage Attorney to negotiate for you. The reason being that you do not have experience, legal backing, and the open network of communications that attorneys have. Make sure they are licensed, and have a 100% money back guarantee. We are seeing interest rates as low as 2%, many are coming back around 4%. Have not seen on higher then 5%. If you want the best results, this is really your best option.

Make sure when choosing your attorney, that they are Mortgage attorneys. Do not go to a Bankruptcy attorney, they will talk you into one. Save speaking to them as a last option. Bankruptcy will save a home, but it will also screw up you life for many years to come. Again I do not want you to file bankruptcy unless it's a last resort.

Your priority's are your family #1, then your home, next is your debts, then fixing your credit report..

Questions;

How many months are you behind (2 months?)- is the increase in the loan amount due to missed payments?

Referencing the $10k increase for only 2mths down, somebody has their finger on the scale?

What state are you in?

Who is your lender?

Are you upside down, what is your value?

Do this - check if your loan is owned by Fanny or Freddy? Check these websites.

http://www.fanniemae.com/

https://ww3.freddiemac.com/corporate/

Gary -

Edited December 10, 2009 by 2ndTimeAround

[Dagwood]

hi gary

yes we are 2 months down just payed 900 paying other 800 this friday to keep 60 day.

The breakdown was as follows

1. unpaid month payments 10/01/2009 to 01/01/2009 6803.17

{says 10/1/09 on agreement must have been typo}

2. payments from 2/1/09 to 4/1/09 4857.70

3. late charges 450.00

4.legal 2164.50

5 fees 100.10

TOTAL ARREARAGES 14375.47

I CAN FAX YOU COPY OF THE MOD AGREEMENT 5 PAGES

WE LIVE IN CT

OUR ORIGINAL LENDER WAS AGEIS NOW OWNED BY RMS Residential Properties LLC as owner designee Speacilized Loan Sevicing LLC in Colorado is services .

We are not upside down on property

How would I find a Mortgage attorney who does mods can you contact via phone I'm not sure of procedure on forum

darrell

darrell

[Dagwood]

ps we do not have a government backed loan

[2ndTimeAround]

Your original lender - AGEIS, say no more. I personally knew brokers that submitted loans to them. I think I price a few loans when I was a broker. They were a big sub prime lender a few years ago. Yes you might want to do a Forensic Audit, but again as I said above it is not your first priority.

Connecticut is one of the few states that still uses strict foreclosure. In strict foreclosure, there is not foreclosure sale at all, not even at the courthouse steps. The borrower receives a date when the debt must be paid. If the borrower does not pay the debt, the other lien holders have a chance to pay the debt and take ownership of the property. If no one pays the debt, the ownership automatically goes to the lender.

The time line for foreclosures in Connecticut is approximately five months, but what you owe vs the actual value can determine how fast a lender moves. Also noting you were in an existing modification, with a possible probationary period that you defaulted on. There is a good chance your lender his already filed paperwork with the courts.

You need to find out what your lender is doing. Anything you say can be used against you so be careful what you say. Being that they are getting the money every month. You are not showing signs of a hardship, even though you are paying late, again they are still getting their money.

Call them for information, asking what they can do to help you catch up on the payments. Refuse a forbearance modification, tell them you need your arrears restructured on the back end of your loan.

Under Connecticut law borrowers can get two forms of protection: foreclosure is stopped during the restructuring period. Which may last up to six months, and the borrowers can obtain court ordered restructuring of their mortgage so as to eliminate overdue payments. Meaning you need to submit a new application for a modification as soon as possible. January is the anniversary date, so your application can be reviewed. It should explain this in your modification paperwork.

Save your money and do the above. Pretty much you can do this on your own.

Again due to the rules of this forum I can not post any of my personal information. If you want me review to modification paperwork, check your PM for fax#.

Edited December 11, 2009 by 2ndTimeAround

[Dagwood]

P M ?

[Dagwood]

Hello All

Stupidly, If thats a word we gave our loan docs to a Loan Mod company last year and never received them back nor did they ever help in loan modification with our bank.. They went out of business.

We researched and found this QWR online and sent to bank we obviously changed names.

Was this a proper QWR or was it a lot of fluff that SLS wasnt required to give us any way?

{sorry CIC rules wont let me download link}

I will send our exact QWR if someone wants to see it it is pretty much exactly the way it reads . I did add this paragrah.

"Please provide me with the documents. I have requested detailed answers to each of

questions within a lawful time frame. Upon receipt of the documents and answers, an

exam and audit will be conducted that may lead to a further document request and

answers to questions under an additional RESPA Qualified Written Request letter.

If you for any reason, deny any documents or fail to supply any information I requested for this mortgage audit . Please cite under which statue you claim for each individual item you may or may not claim an exemption."

SLS stated in their reply that "Since SLS was not involed in the origination of the loan, any issues in regard, including fraud would need to be addressed with the originator. The loan was originated by Aeigis Lending Corporation"

We did receive the following docs as they listed in their reply:

Note and Riders

Deed of Trust

Disclosures

Truth in Lending

Uniform Residential Loan Application{1003}

Payment History

HUD ! Settlement Statement

Escrow Analysis

Broker Priced Opinion

We did the QWR because loan mod company said we would be in a better position for modification if we did Loan Audit. Is that true?

Where to we go now? Any suggestions on what to do ?

jen

[2ndTimeAround]

...We did the QWR because loan mod company said we would be in a better position for modification if we did Loan Audit. Is that true?

jen

Jen

Per my first post - you are being told you need to spend money for something you don't need (at least not right now). Your first priority is saving your home, not going out and seeking a forensic audit. If you are being pushed into an audit with a loan modification, what away. That person is looking at get money out of you.

As for sending and losing your original paperwork - guess what, you have no one else but yourself to blame. You never send original paperwork to someone, always a copy. If you sent this information electronically, there should be a copy some where.

I am seeing the results of audits, the response from the lenders are "They signed for the loan". Meaning at the closing table when you got the loan, you signed for the loan knowing the terms.

Unless you have a good violation like - charged a really high rate on the front and back of the loan (St of CT is max 5% of the loan amount in closing costs including YSP), someone else signed for the documents, forged documents to obtain the loan (by the broker), etc... I think a forensic audit would be fruitless.

I am seeing the results of audits, the response from the lenders are "They signed for the loan". Meaning at the closing table when you got the loan, you signed for the loan knowing the terms.

As for them saying they were not the originators of the loan. They were blowing you off because they knew you would believe anything they said. They are still responsible because they underwrote and bought that loan. What they said is incorrect.

I am hearing from my Paralegals that work one on one with different lenders doing modifications. You are requesting a loan modification be done with them. If you come across demanding, they will pass you off to someone else. It depends on the situation and is different from lender to lender.

The loan mod company you dealt with last year. What was their name? How long as it been? Hopefully you paid them via credit card. Call you CC company and claim fraud, saying you want to reverse the charges you paid. I know it can be done, hopefully it wasn't that long ago.

Again do to CIS rules, I can not solicit on this web site. Per forum rules I cannot publicly post any contact numbers either. I just tried to send you a private message. Your options are not set up correctly, you have indicated not to receive messages from anyone.

...

Edited February 2, 2010 by 2ndTimeAround