What Happened to Distressed Homeowners Seeking Help (HAMP)




14 Responses to “What Happened to Distressed Homeowners Seeking Help (HAMP)”
  1. stripes says:

    I was crushed when I didn’t get a loan mod. Now I realize, we would have failed because the economy stinks and it’s not getting better with this crew at the helm.

  2. Shirlie Eaton says:

    i AM going to court Sept. 15, and have been asked by my lawyer via Freddie mac to fill out and sign a Hamp a[[lication. Now, I’m afraid to do this after reading comments, and news .I did not even sign the original loan app.. My ex took this out on his own w/o my blessing. I never saw a checking acct or statement from the loan disbursement.My ex took the loan w/o me…how does this happen in a 25 yr marriage? I am the sole caretaker for my disabled adult child. I have been so stressed out and my health is shot along w/ my nerves. I can’t fight much longer…I’m just the little fish in a big tank of sharks….and they are waiting to finish me off. I fight for my home because I must take care of my child and the animals that are my family. They saved my life when my 21 yr old died. how can these banks know of your hardship and sorrow,memories and agonies….when all they care about are the “Benjamins”The infamous “jeffrie stephens” signed away my life. Why hasn’t my lawyer deposed him in the state of N.H.. yet,? I would be in jail….caretaker or not if I tried to do the things that have been done to me! The original loan came from GMAC now known as Ally and, Mers, …who knows…..another rabbit hunt I guess….Shhhh we’re looking for a wabbit…

  3. Westcoastliberal says:

    I applied for a HAMP, received an acknowledgement letter, then Chase Home Finance sold the home at auction while the HAMP was pending. I was never given a reason; I think that’s called “dual tracking”. Then they offered me $2,200 cash for keys with the proviso that I would sign a general release as well as the CFK agreement. I signed the CFK agreement but not the general release; result was zero money.
    These people are all crooks and the government is standing right behind them. There is NO justice in the U.S. anymore, period.

  4. TC says:

    I was also one of the “lucky” ones who got a HAMP mod. To me, it’s embarrassing because I could have fought a foreclosure. My deed paperwork was a Countrywide mess – but I’ll never know if a judge would have decided in our favor. I felt like I was going though a nervous breakdown for 2 years, which is how many homeowners feel when they are faced with possible foreclosure.

    I fought hard for a mod just to keep my home. Many homeowners and advocates experienced in the foreclosure process helped me get through the process. I did a ton of research before I submitted my mod application.

    When the mod came though, our principal balance was RAISED and some of the balance was put into non-interest bearing, and the rest was put into a sliding scale rate starting at 2% for the first 5 years. Our loan is still underwater by at least 100K. It’s not a great agreement, but it did keep us in our home.

    I admire those who have had the strength and will to go though the long fight with the banks. I feel that I’ve let those people down by taking the mod.

    Good luck to everyone fighting for their lives.

    • Ken Hansen says:

      Paying more to save an underwater home? Hmm. I don’t think anybody needs that type of luck, but they DO need a place to live. Take note of how housing, an essential need for human beings, is never discussed as a human right by big finance and their blogs, politicians, corrupt banksters and the media. There is too much at stake to consider the human rights of endless millions. It’s all about the money, it always is apparently.
      Did we ever think we’d be at the point in a so-called free country where if “you don’t come up with the money you’re homeless”? Yes indeed, this is the USA.

    • Sarah says:

      This was always a possibility with Geithner’s plan to foam the runway. Meaning, that if someone were to pay more, they could, in fact, hold onto their home, but not without a fight because the Bank may still be making more money by foreclosing.
      This raises the issue, as to whether paying more is a good decision, The CFPB, at the motivation of the FIRE sector, is pushing for programs that “educate consumers” about finance. Predators will always imply that their marks are just “unsavvy or just dumb” so that they can conduct their loan sharking without regulation or blame. Occasionally, someone like TC (no offense TC, congrats) will make a questionable financial decision that is approved by the Banks and the Treasury Department. Perhaps these “training” programs will in fact, educate people enough that they won’t be screwed by a so-called assistance program from the Government, in the future.


    It’s an outrage HSBC Bank USA hasn’t had its U.S. banking licenses revoked for money laundering around the world.
    Bank crime shouldn’t pay.

    • Toby says:

      I petitioned my county attorney general to press criminal charges Bank of America and its CEO, but they wouldn’t do it. Judge did at least dismiss the foreclosure. I’m working to round up locals with similar stories and try again, because I don’t think I’ll get any relief until they’re put down.

  6. chitown2020 says:

    HAMP and TARP and all the rest were just a sneaky way to hand the banksters and their criminal friends more U.S. TAXPAYER money to put in their pockets. Bloomberg News followed the money and found the money was going overseas to foreign banks. It was yet another robbery of US.

  7. Speak out says:

    We were in the 1 million group with incomplete information. In two years we could not get our tax returns to them. They didn’t arrive via Fed Ex, Mail, Fax and they didn’t even get to them after we faxed them from Bank of America to Bank of America. Great chart. The truly sad thing is that the banks got paid for the modifications….

  8. Sarah says:

    Worked out just as planned. Elizabeth Warren asked Tim Geithner repeatedly about HAMP. Geithner said about the banks, “We estimate that they can handle ten million foreclosures, over time… this program will help foam the runway for them.”

  9. Jylly Jakes says:

    I am one of the *lucky* so called permanent HAMP modifications. After receiving my permanent HAMP offering I noticed $50,000. in extra junk fees, foreclosure fees for a wrongful foreclosure (that required the bank attorney Shari Seffer of Fein Suck Kahn and Sheppard to have an ex parte communication with the judge to have my Sheriff’s Sale reversed and have HER OWN MOTION FOR FINAL JUDGEMENT OVER TURNED BY HER =) =)=) Tee Hee Hee……) and I attached a notarized letter asking to justify the fees or OTHERWISE my signature was invalid. I made three more payments on this blessed permanent HAMP modification before I made one final call to Citigroup in late 2010 to ask them to hash out the accounting with me. I had a young, twenty something on the phone tell me in a snarky tone something to the affect ‘I am the supervisor, if you stop paying then you will have to do a deed in lieu or a short sale’….I asked her for forbearance as I was opening my own business at the time and wanted to get Citigroup to do a complete forensic accounting of my loan history, ultimately to remove the majority of the junk fees. It was discovered that during September 2007 until December 2010, Citigroup was reporting me as in default of my mortgage. No more investor for my business. He left me high and dry. It was ironic too, because he was from a country that benefited from a lot of our job out sourcing. He and his family came here legally, became millionaires and were investing in America. To think a domestic bank harmed me, my life, and job creation in America sickens me every day. HAMP was a sham at the time. You had to have the tenacity of Jake LaMotta to get in, stay in and then get a permanent HUMP loan that was designed to bankrupt or at make the borrower eat massive illegal junk fees. Where is the accountability? I’d like to know if I am still counted as “one of the permanent HAMP success stories” to artificially inflate the stats. I can’t wait to battle in court Ms. Seffer.

    • HERMAN VERGARA says:

      It’s an outrage HSBC Bank USA hasn’t had its U.S. banking licenses revoked for money laundering around the world. Bank crime shouldn’t pay.
      (Jylly, you can go to the senate and ask them to forgive you. For HSBC Bank USA it worked.)

      • Jylly Jakes says:

        Ha, forgiveness for an individual citizen? Furthermore, I have nothing to be forgiven for…but Citimortgage so far has made out like a bandit since needing a bail out in 2008. The surreal part for me is that I handle a dozen orders of Citimortgage’s FDIC backed bonds that helped them through their ‘financial hardship’. I would trade a block of 10mm Citigroup bonds, and then get home to be abused on the phone by their employees in Loss Mitigation department. I remember at the time saying things like, “Do you realize I just sold a block of 10 million bonds today to bail your parent company out today? That block of bonds was part of a 1 Billion dollar 10 year issue backed by the FDIC and you people have the nerve to leave me on hold for four hours and then disconnect me? I then dial back in and get a an off shored call center with an individual barely able to speak English? Then I dial in again get re routed to several departments and you then tell me to go back to the first department? Do you not see the irony here? I hope years from now I can laugh at this!”

        Well, needless to say, I am laughing alright. Laughing until I cry. The day I came home to the eviction notice while paying my mortgage has changed my life. I never, ever would have predicted this could happen in my life time. Let alone to millions of families. Both parties have sold us down river.

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