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BANGING HEAD AGAIN

THANKS EVERYONE! You won't believe what has happened! I always check the WF modification status portal which for the past week has shown we are in the review process and all docs completed. But, when I checked the portal this morning, now its indicating we are back at the beginning stating they will be sending us a package to complete for a HAMP. What's odd is this happened after I faxed my contact in the executive office requesting the sale be postponed during this reveiw, as promised on their website. Then, all of a sudden, we are out of that review and starting another one! Either they have lost their minds or it's a chance to burn up more time before the sale date. The deed states the last day to reinstate by paying delinquencies is 5 days prior to the sale date. My Executive Office contact said we have plenty of time and they usually stop the sale proceeding 2 days before the sale. Pretty unethical. Having been a paralegal in the real estate/tax field and also a realtor-although it was long ago, I cannot believe this is what these big companies have been allowed to do. By the way, I did request the atty Barrett in Dallas postpone and/or rescind the FC sale, and he wrote me back stating that only the lender can instruct him to stop the sale. So who has the power here? FNMA? WF? Atty? I believe our loan is securitized as the FNMA rep told me they were only 1 of the investors. How can they foreclose if WF doesn't own the loan or has multiple investors???? Any suggestions? TX is a non-judicial state. I would have to file a Restraining Order to stop the sale and don't know that our rural judge would side with me. This is our retirement home. We don't want to leave it. We are on a river in a subdivision of only 13 homes where everyone is family and we have been here since 2002. We contacted WF in the second month of delinquency and were put on a forbearance for 6 months. Now they are saying we are 9 mos delinquent and do not take into consideration 6 of those months by starga_267_652 from Jasper, Texas. Feb 21st 2012 Reply


Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,815 contributions

There is a strong possibility that the "re-start" of the process is to conform to the new HARP guidelines. I know you have already done this, but get the new package back to them ASAP. Keep your Executive Office (EO) contact up to date, including a cc of the package. It is quite common for the sales to be stopped one or two days before the scheduled date. I have even seen a situation where the sale is scheduled and stopped monthly for over 18 months before the situation was resolved. Incompetence is not the same thing as unethical, but the end result is usually the same. If a bank is doing the foreclosure on a property where they are only servicing the loan, it is because they have received authorization from the note holder(s) to do so.To be successful, you will need to keep pressing the EO for assistance in resolving this. Hopefully, you have been keeping detailed notes of who you talked to, everything you have been asked to do, the dates you were asked to do them and the dates you did them, etc. In other words, a complete journal of your quest. Providing a copy of this to the EO, may make a difference. If they can see you have done everything possible to comply with their demands, it may help. Finally, if you have not yet retained an attorney to help you, you may be fast approaching the time to do so. You do have some time to get the sale cancelled/postponed and your request approved, but you must continue to be diligent. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Feb 21st 2012
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Gary Crist (coloradoreversemortgagelender)
#28 ranked lender in Colorado - 38 contributions

A special Nightly News/msnbc.com report dated on May 9, 2011 on the mortgage mess titled "No end in sight to foreclosure quagmire" check out the report yourself here at: http://www.msnbc.msn.com/id/42881365/ns/business-personal_finance It describes the problems home owners have had by using the governments "Making Home Affordable Program" it still has not helped thousands of home owners. Some home owners have even still had their homes foreclosed on when they thought everything was working.Dave Ramsey said it best that only 7% qualify for the Home Modification Program and he said it is a stupid government program. Check his video out on Fox News: http://video.foxnews.com/v/4664678/facing-foreclosure-dave-ramsey-can-help If you are over age 62 I have the only true mortgage program for seniors to help save your home from foreclosure. Check out this website: http://reversemortgagefhaprogram.com/ to learn more about Reverse Mortgages and information from AARP and HUD. Then check my website out at: http://www.lender411.com/id/rcco7782/ Just call 1-888-546-9927 to get the real help for seniors

Feb 21st 2012
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