About 2 months ago I applied for the government's Home Affordable Mortgate Program (HAMP) with Wells Fargo. About a week after I sent them the first package of information, they asked for more information; specifically, proof that I will receive income for 9 months. My EDD unemployment insurance claim year ends in August, so about 2 weeks ago Wells Fargo said I wasn't qualified for the HAMP. Is this correct; that is, does HAMP require proof of 9 months of income? This seems counterintuitive; that the worse off one is, the less likely one can get mortgage relief?
Wells Fargo also told me that they were working on other loan modification programs. They waited until last week to they tell me that I must first be removed from the HAMP application process, and that I must call them back in one more week to apply for another loan modification program. If I have to be off the HAMP before they can work on another loan modification program, they should have told me that the moment they determined I wasn't qualified, rather than waiting almost a month.
Wells Fargo is dragging their feet, so that they can keep get full mortgage payments out of me. I've been laid off for over 3 months, and I have been paying my mortgage on time, even though I have had to decimate my savings; it's as though they want me to spend all my savings before they'll give me relief on my mortgage.
I've even been told by some people that my loan modification might have a lower priority BECAUSE I pay my mortgage on time. I think people like me who are not delinquent should have higher priority that those who are. I think I should be rewarded because I'm not delinquent, rather than punished. It's as thought they want me to harm my credit rating by being delinquent, in order for them to give me relief on my mortgage. Do they want to force me to lose money on a short sale? Do they want me to destroy my credit rating for 4 years by walking away from this morgage?
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