Since May I asked to negotiate a moratorium on mortgade payments on 2 investment properties, as I have been unable to rent or sell the properties. The representatives refused to entertain my request as I was up to date with my account.
It is for that particular reason I asked for the moratorium so that I do not fall behind my payments. I was told that the cannot look into my request until the account is 90 days overdue. After much arguements, I was told I would have been better of if they were informed earlier.
Soon after the proceedure for HOPE started I received forclosure notices. They suggested to short sell, and latterly to make a quit claim deed instead of foreclosure.
Documents asked for were sent, and the rep confirmed that a negotiator would be assigned. Later I was told that the documents did not reach them, and asked me for more documents.
As a result of the foreclosures, my credit ratings dropped from about 780 to just under 540, thus hindering me to contiue any meaningful income.
I am hapless as to cover my medical expenses, and my our upkeep. I do not know if quit claim deed will improve my credit rating, or just give up and accept my misfortune.
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