I feel this company is ridiculous. I fell into hard times and fell behind on payments. Yes, they helped me stay out of foreclosure with a loan modification. Great, but they kept raising my monthly payments. I went from $1200 the first time to $1400 the second time and finally to $1593. If I could not make the $1400 payment, what made them think I could afford $1593? They told me that on paper, after reviewing my expenses, we could afford it. I was literally left with about $300 for the month, divided by 4 weeks. Not much for extras. I asked if we could refinance to lower our payments. They told me they do not offer refinancing. On November 11th I reviewed my financial information with a loan counselor. She determined that we did not qualify for a program to avoid foreclosure. She then told me that she would hold onto my file for 30 days and then it would be closed. If my financial situation changed before then, I was to contact her to try again.
On December 4th my financial situation had changed. I called them and they told me I needed to fax over my paystubs for 2 months, and that my plan administrator would call me to discuss what program I would qualify for. So I did. I did not hear from them.
So I called them on December 14th and they told me they were waiting for more documentation. I asked them what they were talking about. They said they were waiting for a letter from me authorizing them to use my credit and pay. I knew nothing about this. I asked them when someone was going to contact me to let me know. The representative could not answer my question and just kept repeating that they needed me to send in this authorization letter.
I said fine, I will do it today, and I asked if there was anything else I needed to send in. She said that actually I needed to send in my husband's 2 months of paystubs, a hardship letter, my paystubs and the authorization letter, because the file was closed due to being over 30 days. I explained that it would take a couple of days to get my husband's paystubs.
On December 18th I finally got everything together AGAIN and faxed it over. On December 21st, 2009, I called to let them know that I had faxed it and to make sure they received it. They had, but they told me it would be a couple of days before a plan administrator would be assigned to my account.
I called again because I had not heard from them AGAIN. I had a plan administrator now, but apparently I forgot to sign the authorization letter. My mistake. But I would never have known that if I had not called. So again I had to fax another letter.
Now it was the end of the year, with a holiday in the middle. New Year's, great. I finally got a call without having to call them on Wednesday, January 6th. I was informed that there was a sale date for my home on January 11th. I was told I needed to send in almost $5000.00 by Friday, January 8th. Then she said, oh wait, you have a $1200.00 credit on your account, so you need to send $3800.00 to stop the foreclosure. She said my account was her main priority, which is why she was rushing my file.
Where was this at the beginning of December, and where was I going to get that much money in days?
That Friday I called them at 11:30am EST to ask what time the money needed to be wired, and they told me 12pm EST. I had half an hour. I called back at 11:50am EST to see if we could extend the deadline. I spoke to another rep, who told me I had until 12pm CST, which gave me an hour. Now I was really confused. So I called again because I had a question about whether an interested buyer could buy, and they told me it would be impossible because there would not be enough time. She also said that actually my deadline was up, and this was at 12:20pm EST (11:20am CST). I told her that I had spoken to another rep who said I had until 12pm CST. She said that as long as they received it by 12pm CST, they would draw up the paperwork to stop it. By that point I had 20 minutes left.
I called their attorney to find out what was going on with the sale date. I was told there was not a sale date; there was a law date for Tuesday, January 12th. There was not going to be a sale auction on my home because there was not enough equity. I was also told that whoever I had been talking to did not know what they were talking about, and that I had until the end of January 12th to send the money.
I called Midland and told them what the attorney's office said, and she said, well, regardless, you are going to lose your home. Midland is still saying that there is a sale date for a Sheriff auction.
When I asked if I could rent from them, the lady told me, "Ma'am, we don't do that, we are a mortgage company. That is out of the question."
So now I have lost my house and it is foreclosed on. Now I wait for the Sheriff to evict me, I guess. I do not feel like they ever wanted to help my family. And the recording you hear when you are on hold says, "fallen behind on monthly payments, call Midland Mortgage to speak to a loan counselor in the delinquency center, they are waiting to serve you."
Isn't there something about owing more money than your house is worth (in regard to plans to stop foreclosure)?
What I want to know is why my friend was behind on her mortgage by 3 months, and after reviewing her monthly expenses (she does not make much money) they were able to lower her mortgage payment from $2200 to $1600. I know she is not with Midland, but why could they not do that for me?
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