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Provident FundingTerrible company

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Provident Funding sucks! I have been with them for two years. I had trouble with my bill pay and that made my payment late and they would not waive the fee. Any other company would do that as a one time courtesy especially since I have never been late. Now I am having trouble with my mortgage. I am trying to do a loan modification. I turned in the paperwork and they never answer or call back! I hate this company so much. I have dealt with Wells Fargo and Chase and they treat their customers so much better with respect! Please do not go to Provident Funding even if it is your last choose!

Responses

  • Ch
    charlotte man Nov 23, 2012

    provident funding called me and schedule my closing at 7 PM, got a call at 5 Pm asking me for Wire money?
    called my wife to come home for the closing, and did tons of things they asked me, everything they ask i provided
    come one, rude, lairs,
    end of story, i got them every document they requested, i work for Microsoft, with master degree in network security
    But Provident funding can not keep its word
    stay with your health, stay away
    Lord forgive them

    0 Votes
  • Fe
    FedupwithProvident Feb 28, 2012
    This comment was posted by
    a verified customer
    Verified customer

    They just keep saying that they don't participate in the HARP program. I am hoping that all their PAYING customers go to another lender for a refi.

    0 Votes
  • Ku
    Kurt41 Sep 26, 2011

    Unbelievable. Most of the complaints here are because charity was refused. The only consistant real problem seems to be with posting payments in a timely manner, and charging undue late fees. This is a business for profit. You signed a contract that both of you said you could live with. If you decided not to purchase mortgage insurance, live with your decision. Yes, it would be nice if they would forgive/reduce payments, but it is not required. It may not be your fault that you cazn not make your payments anymore, but neither is it theirs. Life took a turn, and you took a hit. Sometimes life sucks. Why do you think anybody else owes you charity? If the company gives you a break, they will do it at my expense, by charging me higher rates. And I'm just not willing to do that. I wish you all the best, but I owe you nothing. It would be great if some rich benefactor decided to help you out; that would be wonderful. Until then, take your lumps and be gratefull your personal rough spot was not being in the twin towers, or getting cancer, or losing a child. Its a house. And its gone. That's a ###, but you have the rest of your life to live. Stop sniveling and start moving. And stop posting invalid complaints against companies. It won't make them give in to you. It also clogs up these sites so that I have to spend 10 times the effort to check out a company.

    -1 Votes
  • Ma
    Marychn Aug 26, 2011

    They are bad people there, especially Sirian Wang, she is a ###. She lies to her customers, promised no cost no fee and then when the load will be closed, they charged a lot for the closing cost. She a lying ###!!!

    0 Votes
  • Bo
    BOB123BOB Jul 12, 2011

    I hate this company. Due to an unexpected divorce I had to do a short sale. My real estate agent has told me that this is the hardest company to deal with in his experience. They have taken several months to approve the short sale. Now that it is approved they have hit me with a $5, 000 fee for approving the short sale. Again my agent told me he had never heard of this. From my stand point it is crazy. Here I am TRYING to do the right thing and not let my house go into foreclosure and they want me to pay for it. Lets not focus on that we could go to the process taking longer then expected and when we called them to tell them that the buyers were going to leave because it was taking so long...they stated that it was not their problem. Then we could talk about the customer service. The people seem respectful, but they do not seem full of knowledge. Either that or the rules change when you go to the next step.

    0 Votes
  • Ho
    hong G Jun 15, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Provident Funding has terrible payment option. Only automatic online pay is free. You have to mail a check to them in order to pay additional principle. One time online payment costs $15. These days, who want to mail a check with thousands of dollars but have to wait two or three weeks to have the principle paid? Bad company, I definitely will refinance very soon!!!

    0 Votes
  • Cr
    crace31 Apr 26, 2011

    I also have a loan with Provident for the past 4 years and I tried contacting them in 2009 about the Making Home Affordable Program and they said they would not be participating. They have their own loan modification program but it is not the same as what was presented by the government. Go to www.makinghomeaffordable.gov and then once you figure out if you have a Freddie Mac or a Fannie Mae loan you can find alternate vendors to work with you. We are not behind on our payments but our home has lost value and I am about to lose my job. I just would like to be able to refinance before I lose my income and get a lower interest rate and a payment we can afford on one income. It is unfortunate a lender would prefer to get you into a bad situation before they offer any help. They told me they would rather put my house out on a 'short sale' than offer me the refinance at a lower rate and current market value.

    0 Votes
  • Bc
    b_c_c Apr 22, 2011

    I've had a number of issues with Provident Funding, but my most recent complaint is their unwillingness to allow biweekly payments. I didn't realize it was a problem, and I set up biweekly payments through my financial institution. Provident Funding rejected the payments, even though the total due was paid on time, and then they stuck me with a late fee because my payments had been rejected. They ended up sending me a check for each of the two payments, and told me to resent my payment in whole, and refused to waive the late fee.

    0 Votes
  • Pr
    Provident is Horrible Mar 28, 2011
    This comment was posted by
    a verified customer
    Verified customer

    i have a legit complaint, i used to send them my clients to borrow money for home loans.
    They damn near ruined my reputation and business before I fired them, they are the worst company in mortgage history, and that says a lot.

    I could go into details but just trust me on this one, stay far away from these weasels.

    0 Votes
  • Jo
    john d butler Feb 24, 2011

    i had a heart attack in april of 2004 . i was takeing care of my elderly mother 76. we made our payments on time . but because of my health i missed several payments and providnt uped my money payment from just over400.00 to almost 1000.00 a month. mine brother tried to help but they did not care. we started get 3 and 4 phone calls a day really nasty ones . my mothers health due to the stress of it all passed away 1-1-06 .she could not bear being put out on the street as they did to me 3-2006. and then they foreclosed on my home and sold it. they never informed the credit companies that they foreclosed on my home . they left it as an open acount, which it is not. this warlord is tired of their games . it has been 5 years since the foreclosure and they still cannot get it right.

    0 Votes
  • De
    Derek Smith Jan 25, 2011
    This comment was posted by
    a verified customer
    Verified customer

    My home loan is through Provident Funding, since origination October 2007. On Jan 7, 2011, I called them to advise I had not received a new coupon book. I was advised to mail in my check, which I did. I received a letter dated Jan 18, 2011, advising my payment had not yet been received and I was assessed a late fee. I spoke to a supervisor "Steve" who advised he could waive the fee but would not, regardless of my reasoning. This company sucks. Never ever been late on anything, and they wouldn't even make a one-time exception?!

    0 Votes
  • Wo
    wonderfulzing Dec 16, 2010

    Yes, provident funding is horrible. I hate the fact I went with them for my loan. I tried to get rid of my mortgage insurance and they did an 'appraisal' which put my house at $360k, my builder still sells the same model at $400k and I finished my basement, had a ton of add-ons, etc. It also listed my sq. footage at 2800 when it is really 4800. I called and they bascially said there is nothing I can do about it. They just want to rip people off by keep charging mortgage insurance because no one can stop them. What a bunch of freaks. I hope to just refinance soon with a different more ethical lender. Provident Funding really sucks!

    0 Votes
  • Bl
    Blue Raja Nov 30, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I paid my mortgage on time or ahead of time to them for 10 years and after missing 2 payments after being out of work for 6 months (economy), they are starting foreclosure proceedings. Their policy of not accepting partial payments (I tried to pay just the principal) is designed to make it harder on the customer. I contacted my congressman for help, but either he doesn't care either or Provident blew him off. Customer service is arrogant, unhelpful and plain cold-hearted. I've never been able to speak with a supervisor- they're always doing "something else" and I never get a call back either. At this point, since my house is worth MORE than my mortgage, I believe Provident is trying to take the house so they can make a profit. The bottom line is THEY DO NOT CARE.

    0 Votes
  • Sh
    Sharon Ford Nov 22, 2010

    For the first time in five years and because of the mail, our home mortgage payment arrived at Provident one day late.
    Sometimes we even pay $500.00 extra towards the principal.
    But they want to charge us a 5% late fee which is $134.00
    We've also called them for different things and they never call back. You can't pay on line or on the phone because they charge you for that privlege. They are not customer friendly and we are protesting this and going to refinance just to get away from Provident. Refuse using Provident as your mortgage lender.
    SF of Groveland, CA.

    0 Votes
  • Da
    daniel3 Nov 22, 2010

    This is one of the worst companies I have ever had the luxury of dealing with, as far as service. A home loan leaves most people in a precarious situation, especially if you ever need assistance. When you call in to this company, it is apparent that they knew you have no leverage and they act as such. The representatives are snide, and condescending. They treat you as if you don’t want to pay your bill or something. I was not even calling because I was late or anything. They are bullies and I wish there was something someone could do about that whole organization. It is no way a business entity should be able to treat their customers in such a way. I will never purchase another home if I have to take out a loan for it. If you are having any issues with your loan or like me, trying to change my insurance, you are better off calling a random number than call Provident Funding. They can’t be a stupid as they act over the phone, so I figure they are just awfully sardonic characters.

    0 Votes
  • Rt
    r they ok Oct 27, 2010

    Has any one gotten any help with provident funding on the hamp program.

    0 Votes
  • Pr
    Provident Borrower Oct 14, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I can't believe these are Americans screwing Americans. This is the type of business practice that I thought our government was putting a stop to. I sent a mortgage payment to Provident from CA to CA on the 4 th of the month - Los Angeles to Pasadena. By the 14th when I saw that it did not post I called Provident. They confirmed that no payment had been received. Fine, post office lost it. I paid over the phone, $15 fee. Fine. I didn't even have a chance to call my bank to stop the check as the check all of a sudden came in and I got an email stating that in addition to my phone payment posting, my CHECK was posting as well - Literally minutes [email protected]? Over $4000 withdrawn from my acct. overnight. I won't even go into the nightmare i've been dealing with to have one of the payments refunded back. I do not trust this company at all and think they are liars. I have never been treated so horribly by a company I do business with ever. I am awaiting a letter in the mail one day inviting me to join a class action lawsuit. I can't urge anyone enough to stay away from Provident Funding Associates.

    0 Votes
  • Sh
    Shaorn Aug 21, 2010

    A year ago I was calling Provident every month to get a loan modification. I had two surgeries and my pay was cut too. Every month they said I was on the "waiting list " and someone would call me. NEVER HAPPENED. I lived through it and used some savings.
    Now I want a stremline loan and they won't help me at all saying my house isn't at the proper value ratio. I am working at the same job for 9 years, make a good salary, credit score in the 800's and never missed a payment in my life! I just need a LOWER interest rate to get through these times. They won't help at all. My house is not underwater according to 2 other lenders but it doesn't have the 20% equity (only by computer software & no real appraisal has been done). I have an apartment addtion on my house which no one else has in my neighborhood. The comps just don't match in the computer. But they still won't listen or help.

    So much for doing everything right and being financially repsonsible! No one wants to help at Provident when you need it! They really do suck. Why not drain every once of money from people while they can, and then ruin your credit when you can no longer keep up!

    0 Votes
  • Fo
    Fontana-home-owner Aug 08, 2010

    Quicken Loans 'sold' my loan to Provident Funding in 2006. When enquired about Federal programs for assistance to home owners, they simply stated they do not participate in them, and told me in no uncertain terms that I am on my own. (My property, like most other properties, is severely underwater). All I am looking for is a rate change!! I am just thinking of walking away, and sticking it to this damn lender... It is heartbreaking to see greedy corporate raiders like Craig Pica taking undue advantage of American public, and yet, the American Governemnt just stands by witnessing the massacre!

    -1 Votes
  • Yc
    ycharle Jul 27, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I have had my mortgage for over 10 years. When I lost my job 4 years ago, I asked for a short sale or deed in lieu of foreclosure. I was told that they wouldn't cooperate with me in either instance and if I went ahead with the foreclosure procedure, they would come after me for every cent they could eek out of me (shortage, late fees, processing fees, and any other kind of fee he could figure out to charge me). 4 years later, I have lost an average of $6, 000 per year trying to rent the property, I work 12 hours a day in order to be able to make my payments. I'm a 61 year old woman and can't keep up the pace anymore. I called again yesterday and informed them of my plight. He told me to check into a short sale again. I informed him that I had already done that and that no realtor would touch a listing for a condo. The man I talked to only said he'd mail me the papers to fill out for a deed in lieu of. I wanted to talk about another agreement to keep them from coming after me for the shortage but the man refused to talk to me. He told me nobody could talk to me until after the papers were filed with them and a decision was made whether or not to allow the deed. I'll bet they come after me just like he threatened 4 years ago.

    -1 Votes
  • Kg
    K Graves Jul 22, 2010
    This comment was posted by
    a verified customer
    Verified customer

    They are horrible...
    Mailed house payment on 7-7-10, they waited to post it until 7-19-10, therefore, you guessed it they charged my account a late charge of $40. There is no way in the world this pymt took that many days to get from AZ to CA. For the last 3 1/2 yrs, I have never been late and have even mailed it as late as the 12th of the month and it's always been received before the 16th of the month. THEY REFUSE TO LOOK AT MY HISTORY AND WAIVE THE LATE CHARGE THIS ONE TIME EVEN THOUGH IT WAS NOT MY FAULT! Spoke with 3 customer service reps and left a message on supervisor's phone (he just called back today). I've worked in customer service all my life and could understand not waiving a late fee for someone who has been late before, but to not even have compassion. His response was "show me proof you weren't late". The only proof I have is the date of the check, I mailed it the same day from the post office. I wish I had the money to refinance. I hate this company and the attitudes of their people. What is really shocking is the pattern that seems to be going on here, sounds like there have been several people being charged late charges when they are not late. KARMA BITES HARD!!!

    -1 Votes
  • Vi
    VictorVic Jun 23, 2010

    I've responded earlier in regards to Provident Funding and everything I've said seems to be right on target with whatever one else is saying. I do want to ad that when I submitted my paperwork for a modified loan, I called them after I faxed the papers and they verified recent. After nearly 4 months later, I contacted them again and they said they never received anything. They are so misleading and I don't like calling people liars, but these reps are bald face liars! Luckily I was able to get my home out of foreclosure, unfortunately I've been unable to sell. I was so hoping to sell so I don't have to deal with them.

    Someone said you were writing a book and you welcomed stories, but I don't see how to contact you? Can you post?

    -1 Votes
  • Wo
    working4what May 19, 2010

    I had a similiar dealing with Provident last year. I was behind 2 payments, going into the third, when I received a preforclosure notice from them. It said that I must pay the 3 months plus legal fees for a total of $11, 000 within 30 days or MY HOME would be forclosed. My house payment is $1700.00/month. My business was a little slow those few months but I called PF and advised them that I had the money for the 2 months I could pay today. They would not accept those payments - said it was to late - must pay the third month plus the legal fees - otherwise forclosure!!! I couldnt believe it. Only after 2 payments! So I borrowed on a credit card to pay the HUGE legal fees! With that I ended up getting myself further in debt with my credit cards. I still have my HOME thank goodness~ I think it is a shame that this is happening to me and I have NO doubt to many others! Why would they ask for those HUGE fees when just by the fact you are behind in your house payment they think you have EXTRA MONEY to pay for the legal fees.!!!
    Something must be done ~ CLASS ACTION NOW!

    -1 Votes
  • Ew
    EWS- Mar 12, 2010

    Provident is useless. They never reply to emails and never answer the phone. If you open a case number, you'll be lucky for them to even look at it. Provident seems to run a pretty unethical operation."
    " I was considering using Provident because of their pricing. However, after reading all the negative feedback about the company I will not waste my time filling out a broker package, or my client’s time, with a company that operates with such disregard."
    "I hate them. I'd love to know if anyone knows someone with an actual brain and some authority that I can talk to at Provident. This is unacceptable to me. I'm so disgusted."
    " Provident Funding is terrible.. simply put. I have been in the mortgage business for over 20 years and have never come across any company that finds reasons like Provident to condition your lock out of date and deny loans. Save yourself the hassle and place the loan with another lender.


    go to see more about is www.providentfunding.info

    -1 Votes
  • Ew
    EWS- Mar 12, 2010

    big time scrowed up company no customer service what so every...they suck

    -1 Votes
  • Ew
    EWS- Mar 12, 2010

    EWS,
    This company is realy bad, has no cusomer service orintaion. They treat their customers very badly. You could never get any one who is welling to help. I want buisness some where else.

    -1 Votes
  • St
    Stevenskc Feb 20, 2010

    My name is Steven K Craig and I am a published author. While finishing up my latest novel, I’m beginning the next. This next book entitled “Mortgage Lenders-Destroying America” is an expose’ on Provident Funding with my personal dealings with them in order to save my home. I’ve read story after story from other homeowners who have been treated so wrongly by this company. I’m seeking these other homeowners who have had their lives destroyed by Provident Funding and their unethical policies. Also looking for anyone else with a story concerning Provident, (i.e. Brokers, ex employees, etc.) Do you want your story told? Seeking some sort of justice? Now’s your chance to be heard! Send me your story for possible inclusion in the book. Please have documents to back up any claims against Provident Funding Associates. Keeping quiet is what will allow these companies to continue “Destroying America”, speak up and be part of the revolution. Freedom Of Speech, Freedom Of Press! Most forums will not allow me to include a link to the anti-Provident website so search ProvidentFunding (dot) info. www.providentfunding.info

    -1 Votes
  • Ss
    ssanta Feb 19, 2010

    They are the worst company ever. I am an agent working for my best friend, she has tried to work with them, Tried to do a loan modification they wouldnt work with her, hired and attorney and Hired me to short sell the house. I have offers and they just say its too BAD we want your house. They will not work with valid offers to get their moneys. I can not believe what I am hearing. We work with banks all the time for a win win situation and this should be a crime, and I wish there was a way for the government to get involved with this company. These people are in need because their employer cut their income 50%. This is no fault of the consumer, its the fault of a failed system. DO NOT USE THIS COMPANY EVER... I bet soon there will be a class action law suit...They are that unethical and that bad...Sorry to hear all your sad stories out there. This is not the Norm...

    -1 Votes
  • Mi
    Michael Scotts Voicemail Feb 05, 2010

    I have just finished with Michael Scott who has not changed his voicemail in over a year. It say's he's out of the office Feb 2009. I have 400 thousand dollars of equity and was sick with Cronic gout for 15 months and missed all my payments.
    I have a 15 year loan that if converted to a 30 would be easy to afford . You guessed it they did not approve anything and had a sale date of Feb 4th I was forced to file 13 to save the 400 thousand they were going to steal from me. I even offered the title to my 300 thousand dollar home that is paid in full and Michael Laughed at me and said what are we going to do with that.
    We want the money. Bottom line they do not modify anything and at the 11th hour bam you are on the street.
    I even have a son that is special needs who would have been homeless and they cared 0. I am now working 3 jobs to make the money of 1 and will never lose this house to those sick people.

    Chapter 13 stops forclosure if you have no choice

    -1 Votes
  • Hf
    hfarnham Jan 15, 2010

    I have had the same issues as everyone with Provident Funding. They are supposed to be modifying our loan, and cant find the paperwork, never return phone calls, and they have no idea what they are doing. I have been doing this with them for a year, and nothing has changed. They assign it, and then that person doesnt answer his phone or return calls. I still get dunning calls from them every day to call back, and when I do they tell me to ignore the calls, I am modification status - but then no one knows if and when the modification will actually be done. It is an awful company and I am beyond frustration with them. Meanwhile, we may lose our house due to their inefficiency and inability to get anything done.

    -1 Votes
  • Vi
    VictorVic Dec 28, 2009

    I don't think anyone is asking Provident to give them a home for free; my complaint is that I've been making calls, making arrangements to pay and each time I talk with a rep I get a different story, then/now resulting in foreclosure. I called to make a payment as promised, then they said I had to make two payments. I was $100 from being able to make 2 payments. Michael Proctor said as long as I call back before the end of the month and make those two payment that we would be okay. I asked him to confirm that, because a third month would now be due. He confirmed that I would not be asked for the current month, as long as I pay the 2. Well I called to make the two and they refused it and said it went to foreclosure. This is the practice I'm complaining about. They need to be held accountable for what their telling people. This is not a game and they treat it as a game. What resolution do I have now after they mislead me? My word against theirs...any rep can lie. I don't understand this mentality, I've stayed in communications. They also said they've sent letters and stuff. I never got any. But I can go online to their website and it says letters sent. What do I do if I didn't get them...since their reps lie, do I assume they really didn't send letters. Either way, doesn't look like I have a leg to stand on. I would never recommend Provident Funding. If they cannot be honest, then you cannot trust them.

    -1 Votes
  • Pr
    Providunces Dec 23, 2009

    Completely agreed. Provident has made zero effort to assist with my situation, both before I was delinquent on my loan (32 days late bs...) and after I've gone delinquent. Fortunately I've got documentation that they are in violation of legislation passed in my state that requires a meeitng to discuss the situation within a designated amount of time from when they receive the modification request package. They did not respond within that time, are out of compliance, and have been requested to cancel the foreclosure proceedings immediatley. Will update if ithis is successful, my atty is confident that the letter of the law will be upheld. Check your own department of finance . securities in your state and get informed to see if they screwed up in your state too!

    -1 Votes
  • Th
    thanks obama Dec 16, 2009

    Provident has been holding my payment until after due date, check was sent 10 days ago and still has not been processed. They charge a late fee of $45 dollars. This is the second month in a row that they have done this to me and Ive never been late before. They are obviously under staffed and sticking it to there customers for it! I had to stop payment on this check and pay a processing fee of $15 dollars to pay by phone today! On top of that they treat you like they don't care and tell you its the post offices fault. I live 1-2 days by mail away and they just happened to process last months payment right after it was considered late.

    -1 Votes
  • Ma
    mamaiya Dec 12, 2009

    Oh My God I do agree!!!They SUCK!!

    -1 Votes
  • Ha
    harley9701 Nov 20, 2009

    Well it has finally come down to not being able to pay the mortgage. I was involved in an auto. accident last month and was out of work for over two weeks. I know I will eventually get paid from the insurance company. I called Provident Funding and explained what happened as to why I was unable to make my payment. I was given the run around again . The lady then asked me if I was unable to pay the mortgage or just didn't want to. She transfered me to the hamp dept. I explained the situation again and asked if there was any way for some assistance until I get my back pay from the insurance company. He said You could short sell the house. Freddie Mac will not assist anyone that is current on the mortgage. I will not be able to pay it this month. Unless I am 30 days late they will not help or send a packet. I told them to send the packet because I will not be able to pay it. I will put food on my table first then my other bills .

    -1 Votes
  • Mr
    Mr.Wonderful Nov 07, 2009

    I am confused how you "sold" your house "with three offers." Maybe you received three offer to purchase your house.

    Just because this short sale request was denied, don't give up. I would suggest you cherry pick the best offer since your house has stirred some buyer interest. Your realtor should counter the offer to increase the sales price and bottom line to the investor. Also ask the realtors and closing agent to reduce some of their commission and costs, therefore the bottom line to the investor is increased. Finally, be honest with your finances and how much you can afford to contribute towards the loss. Submit this revised short sale request to your Servicer and hopefully it gets approved by the investor. I wish you the best in relocating and health.

    Cheers!

    -1 Votes
  • We
    We Hate Freddie Mac Nov 06, 2009

    Try this on for size? We have a Provident Loan in which Freddie Mac is the investor. We have to relocate to another state for medical reasons and therefore had to put our upside down mortgage home up for sale. We sold the house in 4 days with three offers - ALL of them above the appraised value of the home. Provident approved the sale - Freddie Mac would not. Why? Because they wanted SEVEN TIMES the amount of money we had left to our name as an additional cash payout. OR they wanted us to agree to sign on a loan with them for THIRTEEN TIMES that! Needless to say, we refused so they are now denying every single sale offer on our house. So, we have taken the house off the market and letting it foreclose. Why the hell is Freddie Mac doing this??? Do they get some kind of 100% reimbursement from our tax dollars or something if the home forcloses? What gives?

    -2 Votes
  • Th
    **TheTruthHurts** Oct 29, 2009

    From a closing stand point, this company is the absolute worst company I have ever worked with. They do not review the documents required for funding before the closing and then do not inform the parties of any corrections that are needed until 4:30pm the day before the file funds. They then make impossible requirements for people to meet (not sure how we are suppose to get new documents signed from a borrower that is in another city when there is 3 feet of snow on the ground) and then charge a 're-draw' fee of $300 and a 'lock-extension' fee of $1500...sounds like fraud to me!! Their funding guidelines are ridiculous and the people who work for them are so burned out from working in their 'sweatshop' that they are rude and impossible to deal with. I will NEVER obtain financing through them!

    0 Votes
  • Mr
    Mr. Wonderful Oct 28, 2009

    Jeff, using year-to-date earning from your paystub is a standard underwriting practice. It would be very subjective to look at current earnings and ignore year-to-date earnings. I am sure if you are able to somehow document your reduction in pay, your servicer would take that into consideration when calculating your income.

    My advice to anyone contacting their servicer is the following:

    1. Be prepared
    2. Be patient (you are not the only one calling)
    3. Be polite (you will get a lot farther being courteous than being rude and aggressive)
    4. Be honest
    5. Keep good record

    Cheers!

    0 Votes
  • Je
    Jeff198 Oct 23, 2009

    Harley9701 : I am in the same place as you. I was on the phone with Hope and I am doing this 3 way call next week. I know I will get the same answer as you. Freddie Mac HAMP C65 is the "Obama plan" It spells out all the rules. The people at HOPE tell me I qualify as my DTI housing ratio is 36%. I have been working 20 hours OT a week for years. Now after layoffs, my hours are cut to Zero OT. I have struggled the past 5 months and now I am heading to foreclosure. My loss of income happened in April. So, PROVIDENT is like no other > You have a major income loss> they don't care and don't follow HAMP. They look at your Year to Date numbers when they do the math. So the counselers at HOPE will tell you that you qualifiy. This is correct for just about every other lender. They don't realise your hosed until they call Provident and they tell you your Housing DIT is 28% and you don't qualify. Most other lenders will look at your hardship letter, look at your new income and use this to qualifiy you. I called Freddie, and asked them this: If a servicer does not follow your C. 65 plan, and forecloses on a borrower and the house looses 100K on the sale > who is out of pocket? She said Freddie is> Wow >You have no control over how someone inturpets your Plan, and You eat the 100K
    Classic Government. Freddie is owned by us tax payers> they take it in the shorts and Provident washes their hands. Got to love it.
    I was told to catch up on my payments, then in early 2010 when you have a new year to date that removes my 4 months of OT from early 09 > then apply again. Lovely

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