IBM lenders LPBS
Ogus modification denials

After over 2 yrs of change heck, first with Pursuit and today with one of these individuals, we were refused to get a HAMP (the federal governmentis change program.). But here is finished. We analyzed the rules and we qualified. They stated that the monthly obligations could be greater than the present monthly obligations about the mortgage.

That Is totally false on the basis of the 31% principle. Then they confronted foreclosure after providing us a brand new mortgage agreement which was almost 50% of our revenues and didn't provide us any split on rate of interest or theory or debts.

I believe that they're carrying this out to everybody. The legitimate issue becomes 1.) Is there a responsibility for informing people to not spend their mortgage-based around the HAMP procedure, then switching them along even when they ought to qualify in a an effort to obtain a tougher (for them) deal?

Of course if that's the situation, so what can we do about this?

Company: IBM lenders LPBS
Country: USA

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