Subscribe to RSSMaking Homes Affordable - First Hand Experience Part IV
After many phone calls and emails I was finally able to knock some heads and get some straight answers about how Wells Fargo is allowed to report our mortgage status to the credit bureaus. The bottom line is that they CAN report to the credit agency’s that our mortgage is being modified which will impact our credit rating by a few points. They CAN NOT report our mortgage as delinquent as long as we are current on our payments and adhere to the terms of the trial period.
What did I have to do to make sure Wells Fargo was abiding by the rules setup by the government?
I called my US Congressman Walt Minnick (ID) 208-888-3188 and talked with his representative Beverly Bean. I explained our situation and faxed the documentation provided by Wells Fargo to her so that she could do some leg work for us. In addition to calling Wells Fargo she also contacted the US Department of the Treasury, Malloy Evans 202-422-8135. Turns out that Wells Fargo was NOT abiding by the rules set forth by the government and now my US Congressman and the Department of the Treasury are making sure they are in fact playing by the rules.
I received assurances by my Congressman and the Dept of Treasury that my mortgage Would NOT be reported as delinquent as long as I made our payments in full and on time. In addition, I received a phone call and apology from Wells Fargo/Freddie Mac indicating their Making Homes Affordable documentation will be updated appropriately.
Again, I think to myself (and to all of you) that this process is made too complicated and overwhelming so that people won’t be able to take advantage of something that is bought and paid for with tax dollars. However, we are going forward and taking that next step into the Making Homes Affordable Program.
What is next on the list?
- Make our first trial period payment.
- Trial period documentation signed and sent in.
- Hardship Affidavit *This is similar to previous hardship letter sent in to Wells Fargo/Freddie Mac.
- Signed and dated copy of IRS Form 4506-T
- Copy of all income statements (pay stub, social security, disability, pension, public assistance, unemployment, alimony/child support, etc)
- Counseling session with HUD-approved housing counseling agency *This is FREE
- www.hud.gov/offices/hsg/sfh/hcc/fc/
- HOPE Hotline 1-888-995-HOPE
- I chose this option because I could just call and it only took 45 minutes. They gave me some good information and I thought it would be beneficial to share with you.
FREE Help with Medical Expenses
1-573-996-3333 *I don’t know the details of this service but its worth checking out if you have medical expenses you can’t afford.
Angel Food Ministries 1-877-366-3646 www.angelfoodministries.com
They sell food at discounted prices.
One Person has left comments on this post
Nov 1, 2009 - 06:11:24Hmm… I read blogs on a similar topic, but i never visited your blog. I added it to favorites and i’ll be your constant reader.