I now understand

[edible_chicken]

I now understand how people lose their houses, I have been off work, due to an injury, since Oct 14, and fell behind on mortgage payments, I have been trying to call them to make arrangements, they set up these phone appts, and don't tell you they have a 2 hour window to call, Well I had an appt. at 10am to make arrangements to fix this problem, while waiting, my short term disability guy called me and right about the time, I was wrapping things up with him, the lady from the mortgage company called, I didn't get off the phone fast enough before she hung up, I called right back, and I mean right back.....I was told I had to make another appt. ARE YOU FRICKING KIDDING, as the person I am, I started getting angry and started to cry. I don't understand how in 3 seconds they are too busy to take your call. I just want to fix this. I don't want any hand outs either, just a forbearance, which just tack those payments to the end of my loan. They say they don't want your house, but yet they make it extremely impossible to fix it. Sorry I just had to get this off my chest.

It is so sad to hear this story. I really don't know the right words or suggestions that could help other than I'll pray for you. My wife and I dont have jobs and its been a struggle after moving to SC. We hope something comes soon.

 

[newfoundland]

Some years ago, before a general election in this country, Neil Kinnock, leader of the Labour Party made what I thought was a very powerful speech. He said, we are heading down a rough road, and I warn you, don't get old in this country, don't get sick in this country and don't be poor in this country! How right he was and as it turns out, about most of the industrialised world.

 

[cassie]

Wells Fargo is pretty good at doing the same thing.

 

[chickened]

The federal reserve gives the money to the banks and then regulates how it is administered. I dont know the extent of control/effect this has on the banks but the banks now can invest up to 100% of the money they get in the stock market which leaves little for home loans. They foreclose on homes to clear the books so they can use thoe funds allocated for homeloans and put it in stocks.

 

[mstricer]

Unfortunately, you are but one of many thousands of people who are getting screwed by banks and if you think you are the only one frustrated by the arrogance of these banks, then think again. I am handling a foreclosure matter on a pro bono basis for a Mexican couple who bought their house in 1992 and for 18 years without fail they made every mortgage payment, until, like you, due to a family emergency they missed two payments. They had been in contact with the bank the whole time and said they would make up the payments but before they could the bank filed a foreclosure action even though they had begun making the payments again and were prepared to make up the late payments. They tried everything in their means to cure the default and get reinstated and this went on now for three years and during all that time the bank has refused to even talk. I took over their case because they were getting hit by not only the bank and their lawyers, but also by their own lawyers who just charged them a monthly fee and did nothing. When I took over the case they had paid over $5000 in legal fees alone. Keep in mind that this was not a loan that was under water as the loan balance was only $24000 at the time the foreclose started and the house is valued at $75000. The bank has now added on more then $28000 in fees and costs. Also, keep in mind that over the many years that they paid their mortgage and reduced the principal they also paid to the bank over $38,000 in interest alone. That sum is more then the original loan amount. On Monday morning, December 3rd I am going to a final trial on this matter and I can in no way predict what will happen but I will be embarrassed for my profession if I do not win. The bank has been arrogant throughout. So much so that every attempt I have made to resolve the matter has gone unanswered and ignored. These banks and the lawyer mills that represent them in these foreclosures are the true terrorist in this country and to the OP I really hope that you have better luck in finding someone who can resolve your situation. The bank on the other side in this matter is Bank of America and its name alone is an insult to this country.

You guys are freaking me out. They told me not to worry that it will be taken care..... They also told me that I could take a forbearance and tact the payments to the end of loan, are they screwing with me. Does that mean they are going to snatch my house? I am worried now. I told them I wanted to make a payment before it hit the 1st of the month. All they tell you is the person in charge will fix it. I don't understand how this happens if they were working with the bank. They sent me paper work to do a hardship thing and that I was eligible for it. I haven't gotten any foreclosure stuff as of now, just the stuff to start the hardship stuff.

 

[Mattemma]

Hope it works out for you.I have been telling dh to plan for those rainy days,but he does not seem to think anything bad could happen.

 

[Chick_In_The_Burbs]

You guys are freaking me out. They told me not to worry that it will be taken care..... They also told me that I could take a forbearance and tact the payments to the end of loan, are they screwing with me. Does that mean they are going to snatch my house? I am worried now. I told them I wanted to make a payment before it hit the 1st of the month. All they tell you is the person in charge will fix it. I don't understand how this happens if they were working with the bank. They sent me paper work to do a hardship thing and that I was eligible for it. I haven't gotten any foreclosure stuff as of now, just the stuff to start the hardship stuff. 

Don't worry too much yet. They are working with you, at least getting you in the system. Start to worry if you can't get those papers filed for whatever reason.

 

[mandelyn]

In the case where the bank takes a loss on selling a foreclosed property, I think they have insurance for the loss? It's the only reason I can think of on why they're so quick to take a house and then sell it for pennies on the dollar.

Hopefully everything works out for you. Be sure to return paperwork as fast as you can and read everything. Communication and keeping up with the progress is key. Take the names of everyone you speak with!

 

[Capvin]

.

Hopefully everything works out for you. Be sure to return paperwork as fast as you can and read everything. Communication and keeping up with the progress is key. Take the names of everyone you speak with!

That is good advise. In the case of my clients, for two months they were told that everything would be OK and not to worry. They were also given documents to complete and return, which they did on at least three occasions. I wish they had kept better records of those communications.

 

[mstricer]

Some years ago, before a general election in this country, Neil Kinnock, leader of the Labour Party made what I thought was a very powerful speech. He said, we are heading down a rough road, and I warn you, don't get old in this country, don't get sick in this country and don't be poor in this country! How right he was and as it turns out, about most of the industrialised world.

Isn't that the truth.

Hope it works out for you.I have been telling dh to plan for those rainy days,but he does not seem to think anything bad could happen.

I thought the same way. You better start now, anything can happen, I feel in a mail box hole, that someone didn't fill, that was covered by grass, while walking my dog, so deep I feel all the way up to my hip.

In the case where the bank takes a loss on selling a foreclosed property, I think they have insurance for the loss? It's the only reason I can think of on why they're so quick to take a house and then sell it for pennies on the dollar.

Hopefully everything works out for you. Be sure to return paperwork as fast as you can and read everything. Communication and keeping up with the progress is key. Take the names of everyone you speak with!

I have been doing this. They get me when they want you to sit around for your appt. time. They told me an hour before up to an hour past your appt. What the ***l do they think your should just sit there and wait, don't take any other calls because if you do and don't answer they will say your rep is busy even if they just hung up within 10 seconds.