Faxing Financials Diligently And Getting No Where.

When I have not posted to this blog for a few days it is because I have no news to update with. For now my life consists of weekly to bi weekly faxes of any and all financial documentation that I have or receive. I forward everything to Andre at The Sacramento Urban League HUD Counseling Center. I have started to receive monthly mortgage statements, I got another one in the mail yesterday. All I can do is fax to Andre and continue my prayers that with my due diligence and commitment I will eventually get a satisfactory modification from Bank Of America. I am as terrified as the next home owner in my situation.
Nothing makes sense, I read so much in the media, on other blogs, in the newspaper but nothing gives even a hint as to how we are all going to reap the benefits of the financial bail out. What I am reading is how "the investors need to approve the modifications". How "it must look good to the investors" when really I think why is the investors bottom line the deciding factor? Why if the government bailed out the financial institutions and are holding them accountable to providing homeowners with modifications. Shouldn't "the investors" that bought up mortgage bundles in droves hoping to capitalize on the homeowners long term payments also be held accountable? By not examining those bundles closely before buying they were telling other investors it's safe and lucrative follow my lead all they cared about was their bottom line and that they make money. This drove the market "Those investors" should also be held accountable and not be protected by our government. Bottom line is homeowners need to stay in their homes and the ones that need to take a loss if any should be the financial institutions and the investors. People that not only themselves but the community hold to a higher standard of education and understanding of long term effects for the global financial future of our country.

Faxed tax documents

I keep my file as current as I can with financial documents.3/11/10 I just did my taxes and sent those in with my most current check stub. This is a never ending but necessary step. 3/12/10 I spoke with Mike in home retention, I was told my account is still under manager review and to call back to extend the sale date next week.
So I do 3/15/10 I speak with Evelyn in home retention Evelyn is able to verify "it looks like all your financials have been received" Evelyn sent a request to extend the sale date via email to the foreclosure dept. I was told to follow up with the foreclosure dept given that number and told to call Wednesday.
3/17/10 I spoke with Amanda in the foreclosure dept. She said no one has been assigned to my acct. yet but that it takes typically 120 business days to completion a review for modification. I am told the sale date has been extended for a month. Finally no more week to week extension. Amanda suggests I call once a week. I will stick to every two days just to be sure...