PHH Mortgage...cannot get a Modification

[sassiebaz]

Well, since the house I live is is not backed by Freddie or Fannie, there will be no loan modfication for us! The home we live in is owned by my Dad. He has submitted request and paperwork over the last year and they are completely jerkin him around. The loan is through Charles Schwab...and held by PHH. He also told them he may stop making the house payments and they said they will foreclose rather quickly...we live in Arizona. I guess we are just stuck here until he is willing to let the house go back...any thoughts from anyone???

[HHM]

unfortunately' modification is up to the lender. There is no right to modify. However, their tune may change once you actually stop making payments.

[justbroke]

Yes, nothing makes a lender more "motivated" than payments not coming in, or bankruptcy! I received my modification just before my Chapter 7 case was discharged! They can move fast and even not have those stupid "trial payment" periods.

I never had a trial period although I hear from others, that it is common. It seems that the "trial period" is nothing more than yet another hoop for you to jump through... and once you get through that hoop, you'll find that they lost all your paperwork or that it has "aged" and they need new financial information!