THIRD Time Applying for HAMP Due to Change in Circumstances
We were denied because of incorrect information being inputted the first time. The second time becuase we were "current of the mortgage and had assetts to pay mortgage". The assetts were listed for medical expenses as a result of a workmans comp settlement.
We are going for the third time...origionally we had a 20% paycut in June 2009.
Not sure why it is written you can only apply once, circumastances change, money got spent down for medical expenses and the paycut is still in effect? We were told if there was a change in circumstances, you could re apply and i know of several people who have applied many times?Mortgage Loan Modification Answer:
Thank you for sharing this information for all visitors to this site. It is good to know that lenders are being reasonable on a case by case basis.
According to the HAMP guidelines, lenders do not have to accept a re-application for a HAMP loan modification. The key words are "do not have to". They can if they choose to do so. Hopefully the majority of lenders are as reasonable as your lender in truly helping homeowners in distress especially when circumstances change unexpectedly.
Good luck and all the best to you and your family.