Comments on: Government Making Home Affordable Refinance And Loan Modification Program: Do I Qualify?

By: Peter Anderson

Peter Anderson — Thu, 19 Nov 2009 19:11:34 +0000

Amanda, I just emailed you the contact info for a gentleman at BoA that helped me.

By: Amanda

Amanda — Thu, 19 Nov 2009 19:01:09 +0000

Who can I call about Bank of America givingme the run around about the Modification program which I quailify for. The first lady I spoke to at BOA was nice and told me I quailifed and she was going to put me through to someone that could help get the ball rolling, I was put on the line with a jerk who told me there was noting they could do for me and he would put in for my case to be reviewed and I would hear back in 120 days and in the mean time I needed to keep making my payments. He also said we didn’t make enough money for any of the programs offered and that we couldn’t afford our home. What can I do?

By: Tim

Tim — Wed, 11 Nov 2009 20:41:16 +0000

I have a Fannie Mae backed loan through IndyMac (OneWest Bank). We have never been late on our payments, both with high credit score, etc… I have been calling them for two months now and keep getting the same answer that they don’t have the program in place to start taking application and that it should be up and running in a week or two.

Have you heard anything like this related to IndyMac/OneWest Bank? If I keep getting the run around, who would I make a complaint to?

By: Lisa

Lisa — Wed, 11 Nov 2009 03:02:11 +0000

I am having problems with this modification/refinance myself. We are down to one income. I called my bank (Bank of America) in September because I knew that we would not be able to make the October payment. They told me that there was nothing they could do because I was not yet behind. I thought the program was designed to help you if you anticipate getting behind. Everything states “don’t wait, contact your lender today.” After getting behind on the mortgage, which I told them I would, I called. But because werefinanced in July, I am not eligible for the modification. We have been in our home 12 years. In those 12 years, we only got behind shortly following Hurricane Katrina because my husband was out of work. We are now getting behind on everything. We do not want to lose our home. I thought we could at least depend on this new plan to “help” american people keep their homes and that would be one less thing we have to worry about. What a joke. So much for that.

By: CS

CS — Tue, 20 Oct 2009 19:57:40 +0000

It would be really great if someone could bring to light the truth about
the Making Home Affordable Programs !!!!

Making Home Affordable is one of the biggest government run scams ever foisted on the American People.

Making Home Affordable is the proverbial throwing the bone to the dogs.
There’s no meat on it. It is simply put there to distract and keep
people busy and quiet while they chew on the bone and chase their tail.
Since it has no meat the people will still loose their homes with this farce of a program.

I am speaking from experience we have and still are going round the mill with this one. Actually, we are chasing our tails.

After 6 months we have had three denials from Wells Fargo even though we totally qualify according to the program as written. We have 50% equity in our home and current on payments. Of course Wells Fargo says we don’t qulify, they won’t explain why we don’t, they just say we don’t. Again reading the program the banks call the shots in the long run, from what I can read they are the over site for the program!

The lobbyist keep growing for the lenders even though if I recall our
elected President was going to clean that up, and he was not going
employ any of them in his term. Interesting how all the ones in charge
of all these matters come directly from the financial institutions that
have been bailed out (maybe he lied?).

Some blogs and sites suggest getting a lawyer. Why do I need a lawyer to get what is suppose to be mine from my government!
Personally that money is extremely hard to come by. Our next tail
chasing session will be trying HUD/FHA. I expect that will be exactly
like the experience with Wells Fargo since it seems very apparent that this is all set up to benefit the banks, not us anyway.

In the long run I expect we will loose our home, empty out our IRA’s in
the process, our savings are already gone, and Wells Fargo will be happy as pie that they get to make even more money from our home, which we have been so faithful in paying every month. Of course we have kept it in very nice shape for them also. Wells Fargo can then resell it and they can make even more money on it. Who cares that our family is out of home, savings, retirement and well being.
And wow, what a deal I get to pay for that too.

Oh yeah, we contacted our elected officials their reply, contact your
lender and work with them. They were so helpful!

And so here we stand still chewing on the bone.

Someone telling the truth on this would be great for the American people who are getting caught up in this huge lie foisted upon them by the Obama administration offering the American people hope and help but in reality it’s just a bone.

By: Linda

Linda — Wed, 30 Sep 2009 15:44:37 +0000

And I have another comment,,,we have been approved for a home affordable mod,,even though we DO have PMI,,,our mortgage is with Citi,,and we were never told anything about not getting it becuz of pmi,,,if your lender won’t give it to you just keep on them about it,,that’s what i did,,i kept telling them we wanted to keep our house but we couldn’t afford the payment and FINALLY they are helping us,,,the main thing is,,answer every phone call, dont’ avoid them and stand your ground with what you want,,,they dont’ need anymore foreclosures,,they will eventually help you.

By: Linda

Linda — Wed, 30 Sep 2009 15:41:29 +0000

I have a question,,,I heard that if your mortgage has been sold, which mine has 3 times since I got it,,,that if the current company doesn’t have your original loan papers then you can sue them and get your house for free? Because you really don’t have an agreement with them!??? Is this true? Like mine is thru Citi now but my original loan was with Bank One.

By: Michael

Michael — Sat, 26 Sep 2009 00:07:57 +0000

We were told we could refinance and everything was okay and then we were told that no we did not qualify because we have lender paid pmi. Well the more i read on this the more i see that you cannot get this program if you have pmi on your current loan, however if you owe between 80-105% on your current loan as you need to qualify then how can you not have pmi?? It seems that they contradict each other and it is impossible to get. Something needs to be done!!

By: misty

misty — Fri, 25 Sep 2009 22:38:57 +0000

This is exactly what is happening to us… they leave you no options. He told us just to wait. We dont know what to do.
Any help would be great!!

Misty

By: Making Home Affordable – How The Government Is Helping You Refinance | Free From Broke

Thu, 24 Sep 2009 12:52:04 +0000

[...] YES: it’s highly likely you qualify for the loan modification program, so contact your banker to begin the [...]