My husband and I refied through Ameriquest in Feb. 2001. The closers rushed us through the process like cattle on the slaughtering market. My husband is a legally blind senior citizen who recieves Social Security and the closers knew this. My husband decided, out of sheer frustration, to stop making mortgage payments. He's tired of being ripped off! The equity in our home is nearly gone now and Citiresidential has tacked legal fees, defaulted escrow fees and who knows what else on to the defaulted amount.
A few months ago they returned a payment and recently informed us that we are not eligible for their hardship repayment plan. Our mortgage payment constitutes 85% of our monthly income and we have been forced to file chapter 13 in the hopes of saving our home. This is the second time we have been forced to file chapter 13 because of their predatory lending practices. We opted out of the class action suit to keep other legal options open to us.
We do not have the money to retain an attorney but are desperately in need of one that will help guide us or offer advice. My husband bought our home in 1972 and to date has paid over $300,000.00 for a home that was originally valued at $2300.00. We did not refinance just to sell our home a couple years down the road, we refinanced in order to keep our home for the rest of our lives! Is there anyone who is in a similar situation that may have advice as to what we can do?
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