To Whom It May Concern:
I received information about the scams used to force people into home foreclosure.in July of Memphis, TN had a straight wind storm with winds in excess of 100mph. Two trees fell on my house and crushed the roof. I went without electricity for almost three weeks and did not have a phone for a month. Due to the disaster, I was not able to work and by September, I was two months behind in my mortgage.
I was eligible for FEMA funds to repair my house due to be underinsured, but when I tried to collect, I found out that Household Mortgage (HH) had forced a policy on my mortgage and FEMA would not allow me funds. The insurance company selected by HH did not even assess my damage for three weeks and did not notify me of a settlement for another two weeks. Then the amount they allowed was not anywhere near enough to repair the house. So I filed a protest on the insurance settlement.
It took them another three weeks to reassess the settlement and they still did not allow enough money to fix the house. HH said they would not give me the insurance money to fix the house because of my past due payments, then said I had to get the house fixed in advance and if it passed their inspection, they would release the money. Either way I would have to pay out of my pocket and could not guarantee the contractor a payment from HH who was holding the insurance money.
I got a buyer for the house so I could start fresh and eventually buy it back. HH kept the insurance money ($9,000) and stalled on the sale of the house by withholding the payoff amount for over 60 days until it was too late to close on the sale with my buyer. They finally gave me the payoff amount three days before the courthouse steps sale.
My buyer met the attorney on the courthouse steps with a contract to buy the house, but the attorney said I had to have cash within two hours to avoid a foreclosure. My attorney wanted a $10,000 retainer to fight the foreclosure due to the urgency.
After the house was foreclosed, my buyer even offered to purchase the house at full market value. So HH was charging full value for a damaged house and also kept the $9,000 of insurance money. The sale of my house to my buyer (so I could stay there) was blocked three times by HH demanding cash down payments in excess of the norm and when we met these conditions, HH refused to sign the contract.
Therefore, I went to court to argue my case before eviction. The HH attorney claimed I never had a contract because his own client refused to sell me the house at full market value and still had my $9,000 of insurance money. I was not eligible to file bankruptcy to avoid this whole mess. I had to pack up my house and leave before the sheriff showed with eviction notice.
Ultimately, I lost my property and approximately $90,000 equity plus the insurance money I was due to make repairs to the house.
I have learned in the last few months that there are avenues to get a judgement against Household Mortgage for railroading me into a foreclosure and evicting me from my house when I had a bonified buyer almost three months prior to the foreclosure.
I have heard that there has been a class action suit against Household Finance and wondered if there were any class action suits against Household Mortgage Services. I heard that Household Mortgage was purchased by a Japenese company who set out to take properties and play hard ball with scam tactics.
I have to put up a fee for to retain someone to pursue a judgement against Household Mortgage. I don't have money for large fees right now. But are there any class action suits which I can join??
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