Details of Correspondence: (during this time we had no idea our loan had been sold to GMAC)
December 2008 – Called National City Mortgage trying to figure out process for loan modification. They told me I did not qualify for refinance.
January 2008 – Filled out online paperwork for National City Mortgage lost mitigation on line.
February 24, 2009 – in a effort to receive help before we were in default we mailed a letter to the following company executives: National City Mortgage: Joe Cartellone, Chief Exec Office and President; Todd A Householder, Exec Vice President of Wholesale Lending; Phil Cunningham, Exec President of Mortgage Services; Marty Pachala, EVP Quality; Glenn Brunker, Exec Vice President Operations; Robert Crowl, Exec Vice President PNC Mortgage (merged with NCM) : Barry Friedman, Senior Vice President; Julie Donat, Senior Vice President; Marilyn Delcher, Vice President
March 2, 2009 - Received a phone call from Joann Hargrove of National City Mortgage – told her our circumstances, low on savings and if we made full payments before the modification we would run out of savings. She advised us not to make a payment and wait until our paper work was reviewed by their department who makes modifications.
March 3, 2009 - Sent overnight package via Federal Express to Joann Hargrove with the following:
Borrower Information: Financial Statement Personal, 2007 Personal Taxes, Property Description, Comparable homes sold within 6 months and various other proof of income pages
March 5, 2009 - Called Joann Hargrove to make sure she received package. She verified that she had received the above information
March 9, 2009 - Called Joann Hargrove to check status of paper work
March 13, 2009 - Called Joann Hargrove to check status of paper work
March 17, 2009 - Received a call from NCM from call center about late payment. Explained to them who we were working with at NCM.
March 19, 2009 - Called Joann Hargrove to check status and make sure our credit would not be affected. She said they do not report until the 5th of the following month. She thought our process would be done by then.
March 19, 2009 - Received a message from Jerry Johnson of NCM lost mitigation department 3:20 PM – Returned call left message for Jerry Johnson
March 20, 2009 - 9:00 AM – Left message for Jerry Johnson
March 20, 2009 - Received call from Jerry Johnson NCM. He informed me an investor owned the loan and they had not decided yet if they were going to adopt the Obama Plan. He told me he was authorized to set up payment plans, reduce payments, and modify payments or no payments. He told me the investor on the loan was willing to reduce the interest rate right now to 4.75% p & I; however I needed to have more income or fewer expenses to qualify for that. He said that the “investor” on the loan had not decided weather or not to adopt the Obama plan and to wait until June with our income and expenses had changed because we maybe able to get a better program.
Jerry told me he was authorized to allow us not to make a payment at all. I told him I didn’t want to do that, we came up with the $1,800 per month beginning on April 30, 2009 with payments of $1,800 per month for 90 days. Not to worry about March 2009 payment, payments would start being due the end of March. I was to call him the beginning of June and we were going to work out the loan modification with updated financials from me. I was concerned about our credit scores and he said that the forbearance agreement would say that it would be reported because it was a standard form and that he would not report anything.
March 23, 2009 - Received a Forbearance Agreement from Jerry Johnson of National City Mortgage detailing the payments as discussed with Jerry Johnson. 04/30/09 AMT $1,800; 5/30/09 $1,800, 6/30/09 $1,800. Signed and mailed back.
April 20, 2009 - Misplaced my copy of Forbearance Agreement called Joann Hargrove, she faxed it to me.
May 26, 2009 – sent payment of $1,800 to National City Mortgage
May 27, 2009 - Received letter from National City Mortgage dated May 15, 2009 stating “Effective June 1, 2009, National City Mortgage, a division of National City Bank, is transferring the servicing of your mortgage to GMAC Mortgage, located in Waterloo, Iowa. This transfer is not a reflection of any dissatisfaction with you account, not does it change the terms of or conditions of your original mortgage contract, other than the terms related to its servicing.” …
Same Day: Called Joann Hargrove to make sure our file would be forwarded.
Same Day: Called Jerry Johnson – He said our file would be forwarded and that GMAC was the investor on the loan, they had decided to take over the servicing. He said our agreement would still stand because National City Mortgage was servicing the loan and had authority to make changes. All of our docs would be transferred to GMAC. It may a while, but they would get them.
June 6, 2009 - Received a letter from GMAC dated June 3, 2009 with an account number
