Agreed to forbearance agreement with the understanding I would be able to refinance after 12 months. They continued to list me as in foreclosure, preventing me finding funding.
After 18 months, paid all back payments and trumped up fees, forced insurance, yet still no refinance company would touch me because of their reporting practices.
Requests for account information was a long process with promises of credit repair within 90 days, which never happened.
As of today, have 25 months of on time payments and current loan yet they report me as only having 3 months current.
My situation is critical as one late payment can result in foreclosure within 30 days with no additional legal work on their part. My loan is only 42% Loan to Value at 10.5% interest so they would be getting a big equity chunk. Of course this is one of the loans they want to keep with today's loan rates.
How can they get away with this? They pray on people in trouble and with no additional money to fight them. We must band together to make a difference, before we all end up in a homeless shelter.
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