Waiting on Loan Mod

[TheKaister]

Hi
I am waiting for Skank of America to modify my loan before i file chapter 7. They have been dragging their feet and i finally contacted the Office of the President and now things seem to be moving along. I don't know how much longer it will take before i get an offer and i would really like to keep my house. I had to stop paying my credit cards this month since i simply can't afford it. How long will it take for them to come after me and what can they do ?

[liboton21]

Hi
I am waiting for Skank of America to modify my loan before i file chapter 7. They have been dragging their feet and i finally contacted the Office of the President and now things seem to be moving along. I don't know how much longer it will take before i get an offer and i would really like to keep my house. I had to stop paying my credit cards this month since i simply can't afford it. How long will it take for them to come after me and what can they do ?

My experience with Skank was not as horrible as I read in the forum since I went to NACA and they advocate for me. Back in April last year I was modified for 3.25 P/I fixed for the life of the loan I was behind for 4 mos and those were added in the loan. In the middle of the year I drained all my back-up due to major car repair and medical bills, I have to sell my 401 and stocks and decided to file for BK7. I did file for another mod thru NACA and went to Las Vegas Save the dream event in October 09 and back to dragging and waiting mode. I have to email OOP (Barbara Deseor) and NACA key people to speed up my mod. Since I cannot keep up with my unsecured debt I did file BK7 Jan 2010 and Skank responded for atty authorization letter so they can work on my mod. A month later I got an approval for 2.0% PITI fixed for the life of the loan. I was late for 2 mos on the 1st and seven on the second mortgage. Now just waiting for discharge and an approved loan mod.....GOD IS GOOD..Just keep fighting......and praying...

[TheKaister]

My experience with Skank was not as horrible as I read in the forum since I went to NACA and they advocate for me. Back in April last year I was modified for 3.25 P/I fixed for the life of the loan I was behind for 4 mos and those were added in the loan. In the middle of the year I drained all my back-up due to major car repair and medical bills, I have to sell my 401 and stocks and decided to file for BK7. I did file for another mod thru NACA and went to Las Vegas Save the dream event in October 09 and back to dragging and waiting mode. I have to email OOP (Barbara Deseor) and NACA key people to speed up my mod. Since I cannot keep up with my unsecured debt I did file BK7 Jan 2010 and Skank responded for atty authorization letter so they can work on my mod. A month later I got an approval for 2.0% PITI fixed for the life of the loan. I was late for 2 mos on the 1st and seven on the second mortgage. Now just waiting for discharge and an approved loan mod.....GOD IS GOOD..Just keep fighting......and praying...

so you filed for Bk while your were waiting for your mod ? Did you reaffirm and them apply for the Mod ?

[liboton21]

so you filed for Bk while your were waiting for your mod ? Did you reaffirm and them apply for the Mod ?

Yes, I did not reaffirm. We filed retain and pay or ride-through.

[midnight]

I filed about a month after after I received the HAMP offer because Chase served us with summons after only five months of not paying. I spoke with a several CSRs at Wells Fargo and all had different answers to whether or not the chap 7 filing would be affected. I made the first trial period payment November 1, and filed a few weeks after. The last rep I talked to (I call every few days), and she said it looks good because if it didn't they wouldn't have asked for more updated financial info past the trial payments. So I guess they want to make sure we have steady jobs??

Anyway, this waiting is terrible. Good luck!