All We Have to Do to Modify Our Loan is Get a Major Media Outlet to Do a Story About Us

Do you guys every listen to the Planet Money podcast? Well, it's great. You should! Monday's podcast ("Your Future Mortgage") featured a story about a homeowner who had been attempting to modify his loan through Obama's plan and had no success. Wells Fargo is his loan servicer and hadn't been able to give him any answers even though he was a perfect candidate for the Obama Plan. This sounded just like us. They kept giving him the runaround. For weeks. And weeks. No answers. Just, "Call back." And, "Send us your financials." Just like Countrywide did with us- as I wrote here.

Anyway, Wells Fargo eventually told this guy that he had been denied for a modification. Until, that is, Planet Money aired his story! Monday, the day the Planet Money podcast aired, this guy was suddenly told that his modification had been approved. No explanation as to how it went from being denied to approved.

He is now saving $500 a month and has a 3.75% interest rate down from 6-something%. Today's Planet Money podcast talks about this and how this is seemingly a phenomena. People go through hell trying to get modifications, get nowhere, then a major media outlet airs their story and WHAMMO! Loan Modified!

So, now to get someone's attention. NPR, PRI, CNN, MSNBC, ABC, XYZ, LMNOP?! Help.

"And Three Baby Camels" - Planet Money

The Governator Responds... canned-ly

Back in March I wrote to the Governor of California to ask for help in qualifying for the Housing Affordability and Stability plan. We were getting nowhere with Countrywide and I just began reaching out wherever I could. I sent him and e-mail and also called his office. The phone call was surprisingly successful and I blogged about that HERE.

I'd forgotten about the e-mail until a few days ago when I finally received a response. It's not that I expected more, it's just that... well, it's so unsatisfying. The canned message doesn't even come close to addressing our specific issue. I didn't make any 'suggestions' to the Governor. I asked for help. Please, Governor, help us save our house! And this e-mail is what came back in response:

Thank you for sharing your thoughts with me. I appreciate hearing suggestions from my fellow Californians on how we can improve our state.

California's future success depends on public leaders who welcome the contributions of the people. Adding your voice to this active and dynamic partnership is vital to the growth of our great state.

I also applaud your willingness to become involved in the issues facing California and encourage you to also contact the State Legislature with your suggestions and ideas. Contact information for your elected representatives, as well as information on Assembly and Senate legislation, can be found at the Official California Legislative Information website: www.leginfo.ca.gov.

Again, thank you for taking the time to write. I value the input of people who care about the future of California.

Sincerely,



Arnold Schwarzenegger

I'm not naive. I know this is all a Governor can do. Send a canned response. Maybe if I hand wrote my letter and sent it to his office it would have more effect. Maybe not. Probably not. I don't know. What do you think?