I just need to vent!

SO....I lost my job a little over a month ago, and after a promising 2 interviews was told today that the job was given to someone internally. BOO!!!!! That is the second time in my life that has happened. Grr. It is possible that perhaps something else might come out of it but I won't know for a couple of weeks.
THAT being said, due to the loss of my job and that fact that DH has been working 2 part time jobs we have not been able to make our mortgage payments. I have all of the paperwork I need to file for a loan modification but was told that I cannot fill out the paperwork until I start receiving my unemployment payments. I have not yet but I KEEP getting phone calls from the mortgage company even though I have called multiple times to let them know that I am working on it. They keep telling me that they are automatically generated calls because the account is late and there is nothing they can do to stop it. Someone ALSO stopped by my house and left a note to call the mortgage company IN THE RAIN, even though we were home at the time.
EVERY TIME I call the mortgage company I always get a person who I can barely understand and who only speaks from a script so they can never answer my questions. To top it all off financial paperwork has never been my strong suit so I feel like I need someone to sit down with me to fill everything out. I am so confused and just want to cry. WHY can't life just throw us something good every once in a while. All we get is shit on...constantly. You can only imagine the stress this is putting on my marriage.
I am soooo stressed out and anxiety ridden over this whole situation.

Message edited 5/22/2012 3:54:36 PM.

Re: I just need to vent!

Do you have the contact information for the person you worked with to get your mortgage? Maybe start there and they can point you in the right direction?

Re: I just need to vent!

Posted by ItsaJoya19

Do you have the contact information for the person you worked with to get your mortgage? Maybe start there and they can point you in the right direction?

Re: I just need to vent!

I was listening on the radio the other day and they said that people should not call the banks directly. You should go to the bank branch and speak to them in person.

Re: I just need to vent!

Re: I just need to vent!

you can sit down with a HUD representative for free

I am not sure how helpful they are- but the paperwork can be confusing and if you fill it out wrong- they will deny the mod

the good news is- I found GMAC pretty easy to work with once they have the documentaion

basically you need to show that you have enough money to pay the mortgage if they reduce it- but not enough to pay the full payment

it's a slippery slope and why so many people get denied- and I am going to tell you my tricks for getting loan mods approved- HUD wont tell you this)

you want to make sure you aren't putting luxary items in your expenses- church donations, cable, huge cell phone bills- you need it to look lean and mean- like you already cut everything else

the lowest they can reduce your payment is to 31%o of gross income

so your unemployment + what you husband makes before taxes- take that number and mulitply it by 31%

now make sure your paperwork looks like you can afford that number

that is all the bank underwriter cares about- it's a numbers game

the lowest rate then can drop you is 2%- so they have to be able to make that work with the 31%

good luck

Re: I just need to vent!

Re: I just need to vent!

another trick of mine

if you aren't getting the answers you want from the regular loss mit department

google for the email addresses of the executive office

send them an email with your hardship letter in the email- copy and paste


works every time

those are all my tricks and tips- I no longer do loan mods- but I use all the same tricks for my short sales

Message edited 5/23/2012 11:17:12 AM.