But for the grace of God…
Due to HVCC and other changes in mortgage lending, the time it takes to get a loan commitment has increased by a week or two, sometimes three or four. That has caused a lot of stress in my business.
I cried because I had not shoes until I met a man with no feet.
The time between Thanksgiving and the end of the calendar year is prime time for charitable giving. Today, I share a story about someone who has been caught in the shifting maze of the mortgage crisis. Through no fault of her own, S.W. didn’t do as well as many do getting a modified loan with the help of CNAHS.
S.W. is employed by the Commonwealth and current on her mortgage. She was diagnosed with breast cancer in 2007 and has continued working. Her bad luck in getting a modification was not due to her application information, but because of who “owned” her loan. Her loan was with TBW, when she applied in April. First, the file sat. Then it went to a processing company; they wanted another complete application. Then it went back to TBW. Her loan was almost through processing when HUD closed TBW loan operations. Cenlar took it over in August. Early November, it went to Ocwen, where she needed to complete another application, again. She’s still waiting, and struggling to make her mortgage payments.
I got several stories like this from Ida at CNAHS:
A.K. has been waiting for 7 months for her new loan. She’s been dealing with Litton Loan Servicing, a Goldman Sachs affiliate; so far Litton has successfully dragged its heels while A.K. and her family try to keep their home.
H and M fell into the hands of a “foreclosure prevention” scammer; they lost time and $1000. Their trial loan modification with Making Homes Affordable was successful, but they were told this week that they need to submit to a second trial modification.
Anyone who thinks that Making Homes Affordable loans are simply a handout hasn’t applied for one. Or hasn’t applied, and applied again, and applied again…
Anyone who wants to support CNAHS to help people get through this maze should click here.
