Mortgage Modification Rant! Anyone Else?

[samrhett2]

OK, I just gotta blow off some steam here.  I am in the process of applying for a mortgage modification through the Making Home Affordable program that Obama set up.  This is not my first time applying...this is my 4th time.  Remember when this plan was introduced?  Oh wow.  If you meet the requirements your payments will be reduced to under 31% of your income and you will be able to stay in your home?  Sounded great right?  Well first of all I didn't get in over my head on a mortgage.  The problem is that I had to quit work to take care of my mom, my son and I both had huge medical expenses in 2008 and 2009 and my taxes and insurance costs have skyrocketed.  I am exactly who this plan was supposed to help.

Two years later I am still trying to get it done.  This time I am working with a non-profit agency that works as an advocate on my behalf, basically to make sure that the bank does everything they are supposed to do.  I know a guy who has been through the same thing and he finally hired an attorney to get his done.  What a crock.  The government gave the banks the money-which I wasn't that pleased about, but now the banks won't use it to help the people it was intended for.

They have excuse after excuse and every person you talk to at the bank gives you a different answer.  Once they told me I was all approved and my payments included taxes and insurance so I thought I was all set and the next week I got a bill from my insurance company for my annual premium.  I called the bank and they said that I must have been mistaken, my new payment did not include taxes and insurance.

Very scary dealing with this.  Today in our paper I read that they are making mistakes and foreclosing on the wrong properties and getting sued for it. 

My counselor told me that the process should take six months for us to see if they will grant me the modification and every week I need to call the bank and ask them if they are still working on it and I will have to send them every check stub, bank statement and utility bill until they approve or deny me.  She said they will probably ask me to cut off my cable and internet service to show I am really doing my part.