Do you think Your Loan "Servicer" Isn't Following the RULES?!?

TO QUOTE:  "Members have called NAR asking what to do if they think that servicers are not following the guidelines for the Obama Administration's Making Home Affordable Program for modifying eligible mortgages and refinancing Fannie Mae and Freddie Mac mortgages. Here are the recommended steps to take:

• First, go to www.makinghomeaffordable.gov - the official Treasury website for the Making Home Affordable Program. At the site, determine whether the loan is owned or guaranteed by Fannie Mae or Freddie Mac by clicking "Loan Look Up" on the ribbon on the top of the home page. Only the holder of the loan is allowed to perform this, so do in the presence of your client or after obtaining their written permission.
  
  If the loan is a Fannie Mae or Freddie Mac loan, call (1) 1-800-7Fannie or (1) 1-800-Freddie, as appropriate, describing the specific inconsistency. Do this whether the issue relates to the refinancing or the loan modification program.
  
  
• Next, if the loan is not owned or guaranteed by Fannie Mae or Freddie Mac you can determine if the servicer is participating in the Home Affordable Modification Program (HAMP) by going to the website and clicking "Contact Your Mortgage Servicer" on the top ribbon. To date, 16 servicers are participating, covering more than 80% of all mortgages.
  
  If the servicer is participating, the first step is to contact the servicer using the phone number or email address listed on the site so you can appeal the issue to a supervisor. Be sure to identify the specific provision of the guidance that you believe is not being followed. If the supervisor cannot or will not correct the problem, call 1-800-7Fannie to report the disagreement. Fannie is administering the program for the Treasury Department and will work to resolve the issue."

QUOTED FROM:

http://www.realtor.org/fedistrk.nsf/pages/wk06222009?OpenDocument&WT.mc_id=LS062409&CAT=Gov#report_3_06_22_2009

It's a link about:  "What to do if you Think A Servicer Isn't Following the Making Home Afforable Program Guidelines"

This is a short, but to the point blog.  If you have a loan and aren't able to re-finance it, or have some loan modification . . . check out this link and do something about it.

NOTE:  This is a great link to send to your SOI, past clients, friends, family, you get the point, etc. IMHO. 

Feel free to use this blog, portions of this blog, etc., if you think it'll help someone you know.