This information pertains to a 2008 mortgage previously said to be 2009. This is incorrect. The person selling the mortgage was an employee of another bank in 2007. That information was supplied to me in 2012. The appraisal was wrong. The set aside was not included. And the house did not meet what is described on line as acceptable for an FHA loan. The details are long and involved but today I read that finally someone has investigated and determined that the Countrywide Bank engaged in a scheme called "The Hustle" I had long wondered what the point was for the broker to tell me so many lies and for the appraiser to submit a non-FHA appraisal to Countrywide Bank. Finally someone has looked into this and maybe the Department of Justice will care what happened to those of us that used our equity to fix our houses because the broker said we could get more equity if we did that. That was a lie and the entire reason to take the loan was to fix the house for me. The broker had an answer for everything. No set aside? Why not I asked? Because you have a house you already own and the standards by Fannie Mae are different for you. I want to know if Fannie Mae participated in this. No one should tell any one of any age falsehoods to get them to take a loan. People my age make decisions based on the information that we are given by the representatives of banks. When that information is false, our lives can be ruined.
.
0 comments