The Time Has Come to Unite as One & Monitor Mortgage Servicers

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caldwell02

LoanSafe Member
Jan 30, 2010
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Dave - thanks for your post. I did tell Kevin Winn that Chase wouldn't talk with me because of NACA, and Kevin said "some banks interpret their contracts with us that way." Didn't seem to bat an eye (though of course I couldn't see what his eyes were doing!) :)
 

whirlingbirdie

LoanSafe Member
Oct 1, 2009
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I'm more than willing to do whatever I can. I have an FHA backed loan serviced by Wells Fargo. The investor is Ginnie Mae. We are in NJ. I am pretty certain my broker was being investigated because I had several HUD agencies call to confirm my information.
 

QuayzyCrazy

LoanSafe Member
Jul 1, 2009
182
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Miami
Re: Kansas supreme court decision Mods please read and move to appr.

Well, we can toss our hat into this ring. I'm listed!

Note Date:06/13/2007 MIN Status:Active Servicer: BAC Home Loans Servicing, LP Phone:(800) 669-6607 Simi Valley, CA

Nice job!
I'msickofthis,
I just checked mine and my loan is in there (it says "Active" and 05/18/09 as a date, just like yours, but what does this mean? I'm not sure what this is... Please explain...
 

QuayzyCrazy

LoanSafe Member
Jul 1, 2009
182
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Miami
FLORIDA
COUNTRYWIDE/BANK OF AMERICA
Loan is Owned by FANNIE MAE
Yes, you can use my e-mail, because I'm ready to defend what I'm entitled to...
 
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nativelasvegan

Guest
I will provide full disclosure for this cause. My name, address, loan number, email address, telephone number, etc.
 

caldwell02

LoanSafe Member
Jan 30, 2010
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ohhdear - I am sorry it took me so long to respond. I haven't sent the letter to Maxine Waters because she isn't in my state. I just don't know what good it would do. I'm wondering - has anyone contacted a congressperson in another state and gotten any other reply other than "thank you for contacting me but due to the large volume of mail I can only respond to my constituents...?"
 

MomOf1

LoanSafe Member
Jun 4, 2009
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Please count me in. Uniting as a group is a great idea. Let me know what I can do to help.
 

so-cal-gal

LoanSafe Member
Jul 26, 2009
770
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San Diego, CA
Re: Are lenders backing out of modifications? Article says yes

Are lenders backing out of modifications?!
Posted in Mortgage Rates by DealMaven
October 1, 2009

Holden Lewis, the mortgage expert at Bankrate.com, just published a very disturbing post on his blog. It questions whether mortgage servicing companies that agree to modify unaffordable loans are arbitrarily canceling those deals after the borrower has successfully completed the trial period.

Mortgage modifications prevent foreclosuresLewis tells the story of a woman who signed a modification agreement and not only made the required three-months worth of trial payments at the new lower amount, but a fourth payment as well.

Imagine her relief. She had proven her ability to make the modified payments and saved her home from foreclosure.

Then the lender said the deal was off and her payments were reverting back to the original, unaffordable amount.

We’ve all heard how lenders participating in President Obama’s Home Affordable Modification program are supposed to maintain the new lower payments for at least five years if borrowers successfully complete the three-month trial.

So what’s going on here?

This is not only unfair and dishonest. It’s downright cruel to allow someone to think they have saved their house, only to find out that the bank is nailing the door shut.

Lewis has heard this might not be an insolated incident. If you’ve had a mortgage modification yanked out from under you, we’d like to hear about it.

Source: Are lenders backing out of modifications?!

I did my usual long post, waiting for moderation. I could not find the referred to post on Holden Lewis's blog. It may have been pulled or I just couldn't find it!
You ask if the banks are backing out of modifications? I really do NOT know why you ONLY mentioned TRIAL period modifications that never became permanent.

What about covering ALL the 'AG mods' that CW/BofA touted so LOUDLY after settling with the AGs? Does BofA have ALL the CW CA AG modification CONTRACTS marked as 'CANCELED'? Their OWN EMPLOYEES make that claim (or that ALMOST all were 'Canceled').

NO communication about the 'non-implementation' occurred either. Not until BofA was ready to take action to proceed to foreclose, that is.

HOW MANY does it take to have the public KNOW that this is happening BIG time? CW/BofA were to offer at least 50000 (yeah FIFTY THOUSAND) modification contracts by March 31, 2009 per the settlement agreement. I believe the ONLY ones that REALLY were honored were cases where an attorney filed suit for the borrower.

If BofA would care to release the data on how many of those contracts were agreed to by the borrowers and sent in with a notarized signature and the bank statements as required, I'd LOVE to see the data. I want the REAL data, not anything where BofA contrived to claim the package arrived late or ANY of the many OTHER LAME and PITIFUL excuses. [Does that just maybe hint at deceptive practices?] THEN I want to know, HOW MANY DID THEY EVER IMPLEMENT? How many of THOSE implementations were done via a NON-DISCLOSURE agreement? (They will never answer that so, we'd need to ask, "How many times were you SUED to force implementation of an AG mod contract?")

I also have it from a very reliable source that the practice of NEVER signing the modification contract, accepting payments for months, then claiming the contract was never implemented has now spread to a number of other lenders/servicers. They spread their deceptive tactics really quickly.

Oh, and the answer is YES, I HAVE ONE OF THOSE BLASTED MODIFICATION CONTRACTS!
 

caldwell02

LoanSafe Member
Jan 30, 2010
2,491
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We've got alot of information from our friends here doing the research that can help with the class action.If you haven't seen that thread, Moe has suggested that we select some leaders to begin talking with an attorney soon.

I can't speak legalese, but AM a mediator :). So if those services are needed, I'm there. Otherwise I'm joining in any way I can. I am SO tired of this!
 
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nativelasvegan

Guest
caldwell, you are a great mediator and will be a tremendous asset to this cause. Since I do not believe I am a victim of predatory lending, just a hardship at the result of the failed housing market, I may not be able to participate in the class action lawsuit. Be that as it may, I will still help my fellow loansafe.org members if I can. As a real estate paralegal for over 20 years, I have a little bit of background and knowledge in real estate. With you involved in this cause, loansafe.org has a tremendous asset in you.
 

caldwell02

LoanSafe Member
Jan 30, 2010
2,491
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Wow native. What a nice thing to say. Thank you. I'm really touched, and I just want to be in the place where I will do the most good in this incredible effort.
 

martialgir

LoanSafe Member
Dec 16, 2008
59
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I am out of my Virginia home, now living in Massachusetts, waiting for Deutsch to foreclose but I am way in.....
 

Vbonds007

LoanSafe Member
Dec 4, 2009
1
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I am in Texas. Can offer some assistance. Good computer skills, etc.
Have had loan application with Suntrust since May. Nothing happening.
 

kbrian228

LoanSafe Member
Dec 7, 2009
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LET US GET GOING

ONE FOR ALL, ALL FOR ONE

THERE ARE MILLIONS OF US


1. Tell your relatives and friends about Bank Of America and the other BANKSTERS evil ways and have them move their accounts to credit union and community banks.

2. BOYCOTT your local branches at optimal traffic times 9 to 10 am or 3 to 6 pm or whenever you have times. Be creative with your signages.

3. Create bumper stickers about the banksters evil ways.

3. Post flyer(s) in your local library, public places urging people to cancel their accounts with those banksters.

4. Use web2.0, let us get the message out.

5. Videotape your boycotting session and post it online A LA youtube.


6. ADD YOUR SUGGESTIONS
 
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