by sonia
(victorville ca)

So I applied for the HAMP program, waited for like 2 years
did my trial payments about a year ago and then got a letter stating that I was denied even though my income didn't change. I didn't fall in that exact percentage I am suppose to fall on. They said it had to be exactly on that percentage. For 2 years I have been sending in check stubs hardship letters everything just to be able to stay in my home, on top of all this I had to call foreclosure attorneys so they can keep postponing my foreclosure every month for 1 year! What do I do? How do I know I didn't qualify?

Mortgage Loan Modification Answer:

Hi Sonia,

Sorry to hear about your ordeal. From all the questions we've been getting on this website, a common theme has been that banks are not turning trial loan modifications into permanent ones for a variety of reasons.

Lenders are known to actually put homeowners on a trial loan modification prior to having fully qualified them for HAMP or any other loan modification programs. Many of them are so backlogged that it's an easy fix to put you on a trial modification until they have the time to pore over your paperwork.

Why did you have to hire attorneys to have your foreclosure postponed every month? By law, your lender is supposed to automatically postpone the foreclosure sale as long as you were in the process of getting your loan modified. It sounds like you may have been needlessly paying an attorney to do what your lender would have already done without being compelled to do so by an attorney.

Now that your lender has officially denied your application for a loan modification, they can proceed and finalize the foreclosure process, meaning they are free to foreclose.

Since I don't have all your information and your financial numbers, it's impossible for me to give you an educated assessment of whether or not your numbers are within guidelines.

You've got no time to lose.

I highly recommend No Upfront Fee Loan Modification as the best option to explore first. Read the reasons why.

There is absolutely no upfront cost to you so why not take advantage of any free information and expert evaluation of your situation?

Please do not hestitate to contact me if you have further questions.

All the best to you.

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