Posted by greta on July 02, 2009 at 16:45:07:

Last week we received a letter from our lender's trustees that our house will be sold on 6/2. This did not occur. I called my lender and found out that it is re-scheduled to happen on 7/17. Currently, I am trying to get my lender to re-open our loan mod app from March. Apparently, they had closed it due to 1 missing document. I have now faxed the missing doc 2 days ago. The bank can't verify yet if they have received it. Now, I know the time is ticking and they have a policy of 60-90 days loan mod processing. Accdg to a senior rep in loss mitigation, they will not re-open file until loan mod is approved, the catch is i don't have 60-90 days before 7/17 comes. Also, they will not cancel auction date of 7/17 until loan mod is approved.

I am stressing out because, my clock is running and theirs is not. I am working on my own directly with the loss mitigation dept of the mortgage servicing co not lender. Property is in Virginia. Apparently, they sold our loan to another financial institution. My question is should I be dealing and negotiating with the 3rd party or should i be dealing directly with the owner of my loan which is the lender? or do they have the right? BTW, I tried to call the lender to find out who is the holder of the note and they could not find our loan under our social sec numbers in their data base. Where should I start? should I ask for a copy of of the deed we signed? should we file papers in the court in order to stop the proceedings? what is our defense? should we do it ourselves or should we hire a loan mod specialist? or a lawyer? I have been looking around as to who can help but afraid to hire anyone. We are obviously under the gun. I also feel I need help in the negotiation part. FYI, I was laid off from my job 2 years ago because of a medical condition, hence, we lost half of our income.

Please HELP!

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