Fannie Mae Home Savers approval based on???
Date: Sat, 03/07/2009 - 11:30
My husband and I ran into some financial problems at the end of 2008 when I became very sick and he got laid off. Because of that we missed a couple mtg payments, and even though we have tried catch up, we are so far behind it seems like we can't save enough and are now facing the start of the foreclosure process.
Wells Fargo (who services our Mtg) "pre-approved" us for a FM HomeSavers Advance at the beginning of Feb, but we are still waiting for a final decision. Does anyone know what they base the approval on? I have no idea why it's taking so long to find out if we get this "loan modification" but am curious as to what all they are evaluating to see if we qualify. Anyone who has any info - I would appreciate it if you could share with me!
Thanks
Wells Fargo (who services our Mtg) "pre-approved" us for a FM HomeSavers Advance at the beginning of Feb, but we are still waiting for a final decision. Does anyone know what they base the approval on? I have no idea why it's taking so long to find out if we get this "loan modification" but am curious as to what all they are evaluating to see if we qualify. Anyone who has any info - I would appreciate it if you could share with me!
Thanks
Hi AddyM, Call them and find out what the determination, if a
Hi AddyM,
Call them and find out what the determination, if any, is.
And what they base the approval on should be on their disclosure statement.
chrys
