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HAMP program



Complaint Rating:  91 % with 11 votes
91% 11
Contact information:
Saxon Mortgage
United States
I think the HAMP program is very misleading to the consumer, after applying for this program a year later I was informed that i don't qualify. The information that is now available on saxon mortgage's site concerning the NPV which determines if your income meets the criteria was not available a year ago and now that my income has decreased even more i no longer can qualify thisprogram . I now have to meet monthly payments that i cannot presently afford because if i qualified it would have lowered my monthly payments by $500.00. I want to continue to live in my home, my spouse's work status is subject to change shortly but that may not make a difference at this point...
Complaint comments Comments (4) Complaint country United States Complaint category Real Estate


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 2nd of Sep, 2010 by    0 Votes
Our lender PHH never informed us that we would be responsible for amount not paid during the last year. Our payment was also lowered $600 per month and now we have been denied and have to come up with almost $9000 to bring our mortgage up to date! We have recieved a notice to forclose and have been paying every month like we were told. We were denied because we did not submit an updated pay stub hich we were never informed that we had to do in the first place. PHH has not once called us to update us or let us know that this item had not been submitted. We are now worse off than we were when we started the program. We felt like we were finally making some progress to get our financial situation on track, and now we have this slammed in our face.
 11th of Apr, 2013 by    0 Votes
How & Who do homeowners file a complaint with concerning predatory and/or illegal practices regarding the HAMP Modification Program? I was denied a HAMP Modification when I am a recent widow on Survivor Spouse Social Security, my deceased husband's tiny pension and varying month income from Substitution Teaching. My mortgage lender Ocwen stated the reason of denying the HAMP Modification was that I made sufficient income to afford my monthly mortgage payments that recently increased from $624 per to $1045 per month, which would take my entire Social Security benefit to pay my monthly mortgage. I was also denied because I was not behind in my mortgage payments and not in jeopardy of going into default, at which time I was 2 months behind and now almost 4 months behind. Therefore, I was denied a HAMP Modification for erroneous reasons. I was also told by an Ocwen Rep. that a HAMP requirement was to add 35% on to my Social Security monthly thereby increasing my total assets and/or income. This did not seem right to me as I do not see that 35% increase whatsoever and when I called Social Security they told me I was receiving the gross amount and should not be increased by 35% I do not receive. It looks to be this denial is predatory and a bait and switch scheme to force me into Ocwen's Modification Program. No wonder 2/3rd of the people that have applied for the HAMP Modification Program have been denied. THIS NEEDS TO BE INVESTIGATED NOW!!! HOW MANY MORE PEOPLE HAVE TO LOOSE THEIR HOMES DUE TO PREDATORY ACTIONS OF MORTGAGE LENDERS BEFORE THEY ARE STOPPED??????
 20th of May, 2013 by    0 Votes
The Banks are still doing fraud only now with the Hamp Program Where do you send complaints? lhykrn@yahoo.com
 8th of Jan, 2014 by    0 Votes
So disgusted I can barely type this out. Our home IS in foreclosure, sitting with an attorney as I post this. My husband is in the ARMY, has been for the last 14 years, been deployed twice. We have a 3 year old and a 15 month old baby. We have now lost our home because of this program because the person who enrolled us in it failed to tell us about the approval process AND sent our loan for review AFTER all 3 payments were made. How can this happen? How can this happen to good, honest people? NO HELP FROM CU MEMBERS MORTGAGE, NO HELP FROM KML LAW GROUP. Does any one have any advise? Obviously we don't have the money to pay the attorney to save the home, but any info will be appreciated. Please email me...Thanks arngwife2008@gmail.com

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