Here is a brief description of my situation:
I am a self-employed/private contractor (not in the construction field); 6 1/2 months behind on making a full mortgage payment; I had made partial payments, only to either have them applied to my loan (late fees by the time I convinced the lender to take the money), or returned entirely. Facing a $600 per month increase once the interest rates increase!
In what I thought was a dire situation, I did what we do these days... I searched for a service that could assist me on the internet. After signing up for assistance through a reputable service, I was contacted by TMC Financial Services.
After spending over an HOUR on my cell phone (it's all we have to help save) with them, I agreed to at least give their offer a look, in writing. I eagerly awaited the email I was promised, for the next 3 days. I actually had to call them back to remind the representative to send me the information!
It all looked perfect, I would need to provide them with some basic information about my income and expenses, and they would use some formula to figure out which type of recovery program I would be eligible for, and even the fees would be adjusted based on this information.
I filled out the forms, 2 of which were authorization for them to debit my checking account $1200 ($600 per payment). This would be the fees to have their "corporate lawyers" mitigate on my behalf with my lender, to establish a mutually agreeable payment plan, while providing me with the ability to keep my home.
Well, the money came out of my checking account, and I heard nothing for 3 weeks. I too, had been told NOT to contact my lender, and that I would have at least 2 months before another mortgage payment would be due.in fact, I was PROMISED this.
On the third week after making the second payment, and not hearing anything, I figured it a good idea to call and attempt to move past the answering representative onto someone of a supervisory position. After getting the run around for 25 minutes, I was connected with one.
Unknowingly, I was on speakerphone, and apparently the agent I spoke with initially was present (again, unknown to me). I was berated with an attack of rapid-fired questions, ending with, "Mr.%, just WHAT do you do with your money?" Needless to say, I was speechless, and very calmly informed her that I had reported everything on the documentation they requested, and she had taken the time to READ my file, she would know, and see that I had suffered from a sudden decrease in work/income.
That conversation was basically pointless, because a couple of weeks later, I get a phone call from someone completely different, representing TMC Financial Services, explaining that the original company had been sold, or broke up, or something like that, and that I would now be dealing with the new person on the telephone.
I did get the beginning of a program that was going to work out perfectly. I was told that I simply needed to make 3 consecutive payments on time, and within that 3 month period, TMC Financial Services would arrange for the back payments to be moved to the end of the mortgage, and that my interest rate would NOT increase for at least 2 years. I thought my problems were solved. Turns out, they'd only just begun.
I also was told that the 3 payments would be starting a month earlier than promised. Fine, I figured it was better than nothing, and dropped the issue. Well I made those 3 consecutive payments. A week later, I got a letter from my lender informing me that my next payment due, in 3 weeks, would be for OVER $15,000!!!
Furious, I attempted to call the ONLY telephone number I had been given, and found that it was no longer in service. Apparently, the number I had belonged to the part of the company that was no longer around, nor was the initial agent, or EITHER of his supervisors.
Not getting anywhere, I called my lender. I finally was provided with the new person's PERSONAL cell phone number. I have had to constantly initiate contact with these people. I have to follow-up and confirm things with my lender!
It now has been another 2 months that my mortgage payment has not been made, and my linder informs me on the phone that I may be facing foreclosure AGAIN! The new representative from TMC, tells me that she is doing this "on her own, " and, "if her boss knew what she was doing, he would want to charge me another $1200!!!"
To top it all off, my lender now has told me that all of this could have been done without the "assistance" of TMC Financial Services. They have a "Home Retention" department, that does the EXACT same thing, AT NO COST!!!
I have been taken, kicked when I was down, dragged through the mud, whatever you want to call it.in my opinion, I WAS ROBBED!!! As simply as if I had gotten mugged on the street!
I'm going to make an attempt to recover my expenses, but with my lender not being willing to confirm that TMC Financial Services didn't need to ever get involved, it's going to be a hassle I'm sure! Anyone care to join me in my venture? Maybe there's enough of us for a class-action suit, and we ALL can recover enough to pay for or homes in FULL!
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