My fiance and I financed our first home through these crooks in Sept.
I got pregnant shortly after and had complications that did not allow me to return to work after the baby came.
I contacted the "hardship" department and explained my situation, to which they were seemingly sympathetic and offered us the option to pay half payments for 3 months. Then, the promise was to refinance the loan, putting the arrearage at the end. Basically just extending the term of the loan. We were greatful and quickly moved in my future inlaws temporarily to help. When we got the paperwork, the agreement had changed to not only continue the current loan, but to make up the arrearage at an ADDITIONAL $600 per month.
OK - if I can't make the payments... How could I make the payments $600? I was told that this was what I had agreed to, and if we didn't sign the papers and return them in 24 hours that they would start foreclosure. We had nowhere else to go, and felt extreme pressure, so we signed.
I spent the next three months trying to get something figured out. I asked repeatedly for an accounting of where our money had gone. The three half payments had disappeared. The first three full payments had been posted to the months that we were told to make the half payments. So we were essentially still three months behind on the credit report and by their accounting.
I finally cracked and decided to say forget it - they can have it. But the whole thing ruined our credit, our relationship, and our life. All because some lady lied to me about what they were willing to do and basically threatened us into signing their bogus "offer".
From my understanding, this is their standard operating procedure. I heard on the news that they had made those same promises to the flood victims down in Texas. I'm pretty sure they already sued them.
I would be THRILLED to do anything I could to make these crooks pay for all of the damage they caused. PLEASE include me if there is ever a lawsuit. I am willing to help in any way.
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