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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Bank Excuses You Should Never Accept



While attempting to achieve a successful loan modification you will find that it is not uncommon to hear endless excuses made by your lender as to why they have not modified your loan yet.  It is important not only to know what to respond to these statements but also to not let them discourage you.  Remember, many times, it is simply the incompetency or lack of training of the individual you are speaking to coming through on the phone.

We don’t have a packet for you/We lost your paperwork.

It is impossible that you have lost my loan modification paperwork.  I faxed it in to xxx-xxx-xxxx 5 times on xx/xx/xxxx.  I have confirmed with a number of individuals that you have received it or, I got a confirmation that the fax went through.  I also put my account number at the top and bottom of every page I faxed.  Please look again because now I am very concerned that my information is floating around one of your offices.

We lost you paperwork.

I am aware that you have an electronic records system for my modification please pull that up or get me a manager to speak to so they can do so.

We need this document.

I have already sent that to you x times on this date and this date and this date.

You don’t qualify.

What is the reason?  I would like to go over this with you point by point even if it takes 2 hours to determine why I do not qualify because this is my house.  If it was your house you would want to do the same.

Your not going to get modified you are going to lose your house?

Are you in the collections department?  Can you guarantee on this recorded call right now that I will not and cannot get a modification and that I should give up and also please state your name and employee ID number so I know this is the official statement of your institution.

The general rule is, don’t take no for an answer.  Keep trying, remember, it’s your home.

MAC