Monday, May 10, 2010

Update on Our $hiti Loan Modification Plan

May 10, 2010: Well we are in the eighth (8th) month of a three (3) month probationary loan modification plan. We did get a letter after the third month "congratulating" us for successful completion of that.....So why is our plan not finalized yet, even though we have been sending payments regularly since we entered into "the plan?" Part of the hold up was on our part because we refused to sign the documents committing to a payment plan until $hitifinancial answered some important question we had. Meanwhile we just kept sending in the payments marking in the memo space of the checks " FOR (this months) PAYMENT ONLY PLEASE! Because they had been taking our payments and applying them to our arrears instead of applying them to the current month. Of course, we would never get ahead that way in fact that "plan" would have kept digging us farther and farther into the hole. To this day I dont really know how they are applying them,...we havent received ANY statement from them over seven months!

Even so, with every payment we have sent over the last seven (7) months we sent with it a letter asking $hiti to contact us so we could discuss the questions we had regarding our plan. Not until we started CCing copies out to the Treasury Dept w/ a copy also to Barney Frank, Chairman of the House Financial Services Committee who stood before Congress a couple a year back when the $hit first hit the fan about the "financial meltdown." He was begging Congress and the American people to approve the bailout for the banks, and in his "snots & bugars" plea he promiced that the $$$ would be used to help people stay in their homes. He even went so far as to tell all the citizens of this great country of ours that if the banks gave us any problems in modifying our loans, that he wanted to hear from us. That is why I CC all my correspondence with $hitiMortgage to Chairman Barney Frank.

Well, it wasnt too long before we got a call from $hits "Loss Mitigation Dept," where we began talking to a Liz Cory. At last conversation about a week ago, she told us that we would need to send updated documents, tax forms, paycheck receipts, etc. Well I said I aint going on no more wild goose hunts or paper-chases with these people but we figured, what they fuk, as long as they are willing to work with us and keep our payments under XX amount, we may as well go ahead and give them what they want and hope that that is the end of it and we can finally finalize our plan.

Now hubbie gives me a stack of papers so large that now I am confused as to just exactly which ones I should send. As of this day I have been tryin to get ahold of Liz to ask her which ones I should send and which ones are not needed. I also wanted to ask her if I should fax them over or send regular it seems she is never in.

I just left a message on her machine that I was going to go ahead and just send her what I have and let $hiti sort it out. I also told her I would fax a set over as well. I am also going to include next months mortgage payment with the "infamous" notation on the "memo" portion of the check, along with a cc once again to the Treasury Dept and Barny Frank.

$hiti hasent even begun the foreclosure process yet, and I told them to start treating us fairly and wrap up this "loan modification" process or let the games (in court) other words shit or get off the pot. If they dont make some sort of good faith demonstration to us we are going to quit paying all together. Its getting to the point where we are owing more than the house is worth....besides, we figure with us being in a Chap 13 and all, we could squeeze two, may three years worth of "free-living" here, and what a hell of a "foreclosure party" we will have if ever it does come to that. Either way, we just dont care anymore, but the ball is definitely in their park.

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