I was a victim of preditory loan modification before anyone was talking about it.in 2006 I was late 2 payments I called to pay both of them they refused to take them, instead they asked for both payments plus an additional 2000.00 which I did not have. They would call this 2000 dollars legal fees, but legal fees for what, late payments? They threatened me with foreclosure. I called again and again and I wrote, they would make different offers but would never just let me make the payments, but the 2000 turned into 4000. Finally in October 06 they said to send them $3000.00 and they would do a loan modification, they wanted it by western union. I got the papers but because they were a week late they said they would not do the loan modification and would start foreclosure. The reason they were late is I had questions and no one would return my calls. They did not send my money back.
I went to my congressman who called them in April of 07 he said they would stop any foreclosure attempt and would work with me.in July of 07 I was to sign papers prepared by Kerry Phillips who told me they were increasing the loan payment by 300.00 to go into a special impound account as she called it just until I got my homeowners insurance and hazard ins. And then they would lower it again. I said that did not make any sence because my homeowner ins and haz.ins. Was already included in my original payment and that would be paying it twice, not only that they had purchased insurance at an unbelievable amount. I also said you did not put it in writing that you would lower the payment, she pressured me and said look in the interest of time you need to sign it and I will personally see to it that they analyze your account and lower your payment by 286.00 per month.in additon they added another 13,800 to my mortage balance I asked what that was for she said for legal fees and back payments. Legal fees for what I said, she said for the stopping of the foreclosure, it was never in foreclosure I said, who told you that she said, the congressional office here. I asked her for an itemized statement, to this date I have never recieved one.
I have sent multiple letters and called many times but to no avail. I live on Social Security and Spousal Support, I had a part time job which I lost in Jan of 08. My grandaughter lives with me as well as my disabled adult son. It wasn't until the economy tanked and everyone started talking about banks taking advantage of people during hardtimes that I realized how bad this thing was. I was going through a divorce of 37 years, was in poor health and now my home is worth less than what I owe on it.instead of helping me they added to my debt. Now I may still lose my home, I am two payments behind and when I tried to make up one of them, they refused my payment, their on line payment service says it is out of service, when I call they put me on hold, so I am going to mail it via registared mail. From what I understand they are not taking payments from other homeowners and in fact returning them so I don't know what is going on.
I am going to try to get help from HUD but again I don't hold out much hope as I see hundreds of complaints that this Obama plan isn't quite working out. That is how I got messed up, to qualify this time for a loan modification I had to be at least one payment behind. I am not sure that is the best advise. I know this bank did something really uneithical or they would have provided proper documentation, they constantly play dodge ball. They made a whole lot of money off of someone who didn't have any money to give. The are the definition of predetor. I have copies of my communication to them.
This thing is mind boggling, I was sick back then and terrified of losing the home I have lived in for over 25 years and could not afford a real estate attorney to advise me so I am paying for it now.
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