We got ripped off from the first loan which we are still in. We had our documents audited and found many violations. We went back to refinance the second time to which we had no idea that they still owned the loan, we thought that is was through Wells Fargo and being serviced by ASC, but, they led us along and told us to default on the current loan because it would be covered in the payoff of the refinance. That put us 2 months behind on our current loan. They kept telling me everything was a "go" and that we should close on the loan soon.
When it came time to close out, all the pricing had changed so we said we could'nt do it; the payments were too high. They called back and threatened us with this credit crap and how we were going to be in a lot of trouble if we did'nt pay that loan off. Well, we did, and we closed out and everything.
10 days later, after much panic, they sent a letter of credit denial because of "lack of collateral". So, by then, we were 3 months behind on the mortgage to them so we had to work out something to save our home.
We paid a reinstatement fee so we would not get foreclosed on. We went along and they finally came back with this rediculous high amount of a payment, we knew we could not do. We asked for a loan modification because by now, we are just about financialy exhausted. We dickered along for 4 months. I learned everything I could find out about these documents as I just could not see how someone could get you in this kind of a mess and just drop you like a hot potato. They knew we could not come up with the money to catch it up.
Well, I sent complaints to: FTC, BBB's, etc. Trying to find someone to help with this. The GA. Dept. Of Banking and Finance are still investigating at this time.in October 07, they said they were going to foreclose Nov07. I sent them the violation letter and I also finally retained an attorney so they put the foreclosure on hold. We found out that Foundation Financial was still the holder of the mortgage after it had been run in our local paper for over a week.
My attorney and the GA. Dept. Of Banking and Finance received a letter from their supposedly, Senoia Managing Partner, that was all a bunch of lies. He twisted everything around; he did not know what went on before. He was just grabbing what he could because he knew they were in a lot of trouble. When my attorney got the letter, he dropped us. He then told me that Foundation Financial has offered me $2500 dollars to drop all the complaints about them.
Does'nt this all sound so fishy? This is one of the biggest flipping schemes I have ever seen! They have violated the: GA. Residential Mortgage Fraud Act, GA. Fair Lending Act, Deceptive Trade Practices Act., HOEPA, and many more that I probably dont even know about.
Now, I don't have legal representation any more, I feel they will try and foreclose again for March 08. I have found one attorney, but he will not take it until the Dept. Of Banking and Finance says that there is something here.
I will not quit with this until justice is done. There is not a law in these United States if they dont enforce these mortgage and consumers laws!
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