tlhenderson
New Member
I need help.
My husband and I refinanced in 2006. We need to take some cash out for some personal bills. Our house appraised for something like $244,000.00. Our loan was for $217,000.00.
I tried to refi at the beginning of this year and our house only appraised for $188,000.00 so impossible to refi. I now think I got an inflated appraisal when we refied…(brokers charged me a fortune but we were getting the money we needed.)
Sometime in May, my husband who thought alcohol was more important to him than his family, moved out. I freaked out about my mortgage which I've never been late on. I called my lender, Litton, and they agreed to modify my mortgage to 2.18%. They added escrows which I didn't have before but lowed the P & I by over $400.00. I had to send in lots of documentation which I did. Paycheck stubs, list of bills, hardship affidavit. My new payment was $1200.00. Manageable. I started making the new payment in May and every month thereafter with the last payment made October 10th for October's payment. About a month ago, I received a copy of the modification plan document signed by the lender so I thought I was good.
On October 16th, I got a call that my modification has been denied and that I was behind in my payments. I was on the phone with them for an hour trying to figure out what the heck was going on. I was denied because I supposedly didn't have all the documentation, I was missing husband's paycheck stubs and his signature on the hardship affidavit. WHICH I didn't have because he wasn't living with me, the ENTIRE REASON FOR GETTING THE MODIFICATION. I talked in length with them in May about this; they said to just explain my situation on the hardship affidavit. I was told I would have to start completely over. I begged the girl to let me get the missing documentation and she agreed to reopen the case if I got her the docs she needed. My husband is back home, so I got his paycheck stubs and his signature on the hardship affidavit and sent that in on October 22nd. (BTW, they were shoing me behind in my payments because instead of posting each $1200.00 payment, $900 to P & I and $300.00 to Escrow, they just held on to it in a suspense account. When I was denied, they posted my original payment, $1340.00 P&I, no escrows, for May, June, July and August. I have about $1380.00 sitting in suspense and $600.00 in escrow.)
I called them on October 26th and was told my modification was denied because I made enough money to make my payment, they removed the required escrow payment and my payment was now back to the original $1340.00 P & I only. I have to call them by Friday to have them make my September payment out of the suspense account, and part of October out of the escrow and I owe them over $700.00 to complete Oct. payment AND, I have to make another payment by November 15th.
I'm very very angry. I'm never late and they are showing a 30 day late now because they never posed September payment. They sent me a signed modification workout plan. I got a letter on the 20th saying they were going to foreclose if not paid in 45 days, and one on the 21st saying I was denied the modification.
So…what can I do? I spoke to managers and everything and they just keep telling me they are sorry but this is the way it is. Here all this time I was paying my loan on time each month caught up until November 1 payment, plus I would have about $1500.00 in my escrow account to pay taxes this year. Instead, I'm over $700.00 in the hole to get caught up just through October, which of course, I don't have, and will have to pay my own taxes which will be over $2000.00.
My husband and I refinanced in 2006. We need to take some cash out for some personal bills. Our house appraised for something like $244,000.00. Our loan was for $217,000.00.
I tried to refi at the beginning of this year and our house only appraised for $188,000.00 so impossible to refi. I now think I got an inflated appraisal when we refied…(brokers charged me a fortune but we were getting the money we needed.)
Sometime in May, my husband who thought alcohol was more important to him than his family, moved out. I freaked out about my mortgage which I've never been late on. I called my lender, Litton, and they agreed to modify my mortgage to 2.18%. They added escrows which I didn't have before but lowed the P & I by over $400.00. I had to send in lots of documentation which I did. Paycheck stubs, list of bills, hardship affidavit. My new payment was $1200.00. Manageable. I started making the new payment in May and every month thereafter with the last payment made October 10th for October's payment. About a month ago, I received a copy of the modification plan document signed by the lender so I thought I was good.
On October 16th, I got a call that my modification has been denied and that I was behind in my payments. I was on the phone with them for an hour trying to figure out what the heck was going on. I was denied because I supposedly didn't have all the documentation, I was missing husband's paycheck stubs and his signature on the hardship affidavit. WHICH I didn't have because he wasn't living with me, the ENTIRE REASON FOR GETTING THE MODIFICATION. I talked in length with them in May about this; they said to just explain my situation on the hardship affidavit. I was told I would have to start completely over. I begged the girl to let me get the missing documentation and she agreed to reopen the case if I got her the docs she needed. My husband is back home, so I got his paycheck stubs and his signature on the hardship affidavit and sent that in on October 22nd. (BTW, they were shoing me behind in my payments because instead of posting each $1200.00 payment, $900 to P & I and $300.00 to Escrow, they just held on to it in a suspense account. When I was denied, they posted my original payment, $1340.00 P&I, no escrows, for May, June, July and August. I have about $1380.00 sitting in suspense and $600.00 in escrow.)
I called them on October 26th and was told my modification was denied because I made enough money to make my payment, they removed the required escrow payment and my payment was now back to the original $1340.00 P & I only. I have to call them by Friday to have them make my September payment out of the suspense account, and part of October out of the escrow and I owe them over $700.00 to complete Oct. payment AND, I have to make another payment by November 15th.
I'm very very angry. I'm never late and they are showing a 30 day late now because they never posed September payment. They sent me a signed modification workout plan. I got a letter on the 20th saying they were going to foreclose if not paid in 45 days, and one on the 21st saying I was denied the modification.
So…what can I do? I spoke to managers and everything and they just keep telling me they are sorry but this is the way it is. Here all this time I was paying my loan on time each month caught up until November 1 payment, plus I would have about $1500.00 in my escrow account to pay taxes this year. Instead, I'm over $700.00 in the hole to get caught up just through October, which of course, I don't have, and will have to pay my own taxes which will be over $2000.00.
.