http://norcalmortgagemods.com/2009/03/31/home-affordable-modifications-the-nuts-and-bolts-of-the-obama-plan/ Saving homes with new bankruptcy law Thu, 25 Mar 2010 16:05:31 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://norcalmortgagemods.com/2009/03/31/home-affordable-modifications-the-nuts-and-bolts-of-the-obama-plan/comment-page-1/#comment-3864 Antoine Adler Sr Thu, 25 Mar 2010 16:05:31 +0000 http://norcalmortgagemods.com/?p=160#comment-3864 The HAMP program indeed doesn't seem to be working , how can a person who meets all of the above requirements still be placed in a hold pattern and then potentially denied a modification . Also people need to be made aware that the HAMP program is not honoring the HUD negotiator's terms for re-modification , for instance a negotiation was made for a 4 month forebearance with a modification to 2.5% after the four months taking the arrears to the back of the loan . When the paper work was submitted the wervicer Wells Fargo declined to honor the NACA negotiator's proposal and declared at 5.5% rate and calculations based upon that . This just sounds wrong , and no this is not an urban legend it is happening to me . Of course I am fighting their tentative decision and supplying them with the documentation they requested and the reminder of the OBAMA plan. God help us all. The HAMP program indeed doesn’t seem to be working , how can a person who meets all of the above requirements still be placed in a hold pattern and then potentially denied a modification . Also people need to be made aware that the HAMP program is not honoring the HUD negotiator’s terms for re-modification , for instance a negotiation was made for a 4 month forebearance with a modification to 2.5% after the four months taking the arrears to the back of the loan . When the paper work was submitted the wervicer Wells Fargo declined to honor the NACA negotiator’s proposal and declared at 5.5% rate and calculations based upon that . This just sounds wrong , and no this is not an urban legend it is happening to me . Of course I am fighting their tentative decision and supplying them with the documentation they requested and the reminder of the OBAMA plan. God help us all.

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