I have been held captive in my loan for a year now. I am like many Americans who got into a bad loan. I was told to come back in a year to refinance; however, when I returned the company said that there was nothing they could do. My credit score improved within the year.
I am now with an adjustable mortgage that is increasing every 6 months. I have tried a loan remodification with Chase and they keep declining it. I had to get a part time job just to be able to pay the mortgage. This has been going on for about a year and they refuse to remodify my loan. I guess they said we can afford the loan. This is entirely false! I have been robbing Peter to pay Paul for about a year and I can forget my credit scores that I worked so hard to rebuild.
I think that I am being singled out by Chase and I really feel that they want us to lose our home. They have not helped in any way. I have tried going through companies like NACA and US Homeloan Assistance. We received no help from NACA at all. I am now waiting on this new company to help us. I had to take money out of my current mortgage payment to pay them $1,200 to help. That was on November, 7 2008. I am still waiting to see if they can help me. Each time I call they say it takes up to 90 days for help.
I think that the Government can bail out the car industry but they are taking away the American dream from most of its citizens - The persuit of hapiness and the right to own a home. This is a very sad situation that we are not protected by our own Government in helping its own citizens. I wish I could borrow money from China as our Government is doing! I am sure that they could help me!!! Thanks!
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