I am writing this for others to be informed of what I have and am still going thru. Well it started about 18 months ago when my company closed its
doors and laid off all employees, because of the decrease in our income, I asked the morgatge company I have if I could modify the loan due to job
loss. They took all the info needed and put me on a deferment; a deferment is when you pay only the intrest on the loan not princapal untill the
modification is complete. Six months later my modification was done and I was sent the new contract to sign and start normal payments.Problem is they
only decreased the payment by $75.00...WHAT!!!! I lost $2000 dollars in monthly income and they come back with a $75.00 savings!!!! Needles to say I
called them to express my dissatisfaction and told them this would not help me at all, so they put me in for a different modification and put me on
another deferment.... After 3 months of waiting I called to see the status, I was told they needed my new finacials because the ones I sent were
more then 30 days old. Puzzled I sent them the info. This time I followed up with the info I sent as was told 'they got everything they need". Now I
wait again for 2 months and called them, I again was told that the info thay had was past the 30 day mark and they need new ones!!!!!
"How long does it take for someone to put in my info from the documents I sent them" i asked. The anwser I got was " We are trying to complete them as
fast as possible"
As fast as possible huh?..........Now it has been 18 months and still no modification in sight, I have sent my info to them no less then 5 times to
always get the same response of my info is too old, or something was lost on thier end.... and am still on a intrest only deferment.
I have now given up on the modification and have decided to short sale the house because of the negitive equity in it by $30,000, I inlisted a realtor
who specializes in short sales and was told about a HAFA program that puts $3000 in my pocket at close and also not to be responseable for the
residule amount on the short sale...YES YOU ARE LIABLE FOR THE REST OF THE LOAN AFTER THE SHORT SALE.
So off we go to sell the house, now 3 months later ...I was declined for the HAFA program because I never applied for a loan modification!!!!!!!
I sent them the info numerous times!!! What the F%^*
I have since learn from a Bankruptcy lawyer that Forclosure and short sales do about the same amount of damage to your credit ...so I am letting them
foreclose on my house.
I cant believe that the mortgage company would want this!! But they do...... why....???
I asked my mortgage company if I let you forclose ..how long do I have to move after the auction of my home???
I was told if a private person buys it then maybe 10 days...
BUT... if they buy it( the same ones foreclosing on it) I would have 30 days.... WHAT DID YOU SAY IF YOU BUY IT!!!!!
THERE IS THE SCHEME OF THE DECADE FOLKS ..THEY WILL SHOW A LOSS FOR TAX REASONS BUT THEN BUY IT BACK AT A HUGE DISCOUNT... I dont get the logic behind
this, if anyone else might know why please tell me...... so needless to say Everhome Mortgage company is screwing me and the American taxpayers
because they were part of the bailout. So you pay for the forclosure loss with the bailout and they get a house at a discount...what a racket they
have.... RENT DON'T BUY!!!!
If you have any helpful advice for me please respond.
Ok i am editing to put in more info... I have told them time and time again I would pay and live for as long as possible if they could get my payments
down to $1100 i am currently at $1450 but they didnt seem interested.
edit on 19-1-2011 by Lost in america because: (no reason given)