I too have been duped by Wilshire. I was fully aware of the reset, and started the process in October by calling Wilshire to find out what I needed to do to prepare and avoid reset. I had received my first letter notifying me of the reset in 120 days, and giving me some options for Modification. Talked to a rep named Heather on 10/26/07 who advised to start the process in mid-January and told me about the Modification Team that could help me. The reset was not due until April so I had a good head start. On 12/18/07 I received a second Interest Rate Change (90 day notice) from Wilshire. The letter states they sent a prior notification but had not heard anything from me. (Although I already called in October!) By 1/8/08 I had faxed in my Hardship letter, bank statements, etc. Wilshire advised me to follow up with a call to make sure they received my documents, which rep Janelle Olson confirmed on 1/10/08 they did receive them. I was told a Mortgage Modification Specialist would soon be assigned to my case, and I would receive a call. I received a letter from Wilshire on 1/16/08 advising of my 45 day notice of Interest Rate Change. It also gave information on the Mortgage Modification option. I called again and was told it may take up to 3 weeks for someone to be assigned. 1/29/08 At the end of 3 weeks I called and the customer service rep Brian said he could not even find a record of my documents I sent on 1/8/08! Then he said I should have had a rep assigned by now, then assured me he would email "them" to advise. At the same time, he took my financial statement information again by phone, and told me I was qualified for modification and he would send the information to the "Workflow Team" by email so that I can have an account manager assigned. On 2/2/08 I received offical notice from Wilshire of my new reset amount and effective date!!! On 2/8/08 I called Wilshire again and asked for a supervisor. They could not get one, but I talked to a customer service rep who said my Modification was sent in for assignment on 2/4, and that it should be assigned by someone by mid-next week. Still no response! On 2/28/08 I talked to customer service again and demanded a supervisor due to the lack of returned calls, and the date for reset is now getting very close. I ended up having to leave a voice mail for James Patterson who is a Modification Supervisor. Still no returned call!!! On 3/14/08 I left a voice mail again for an unknown named supervisor. Who are these people? My mortgage is officially re-set and, today 4/21/08, I received another notice advising me of another reset due to occur in 150 days. I'm very angry. I used to have my mortgage with B of A, and then re-financed with a company who within a month sold it to Wilshire. I have lived in my home 10 years, and this is the first home I have ever owned. I plan to stay here, unless these people try to force me out. What are we to do? Is there a law against this kind of loan sharking? I thought the president told us that these mortgage companies were required to work with us?! P.S. Did you notice they don't have any way of contacting them via email on their website? Hmmmmmmm Anyway, if I ran my business like this, I would have long ago gone bankrupt.
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