In Trouble With Your Mortgage? Call Your Lender - Now!

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Victim too — Thu, 31 Jan 2008 13:00:00 GMT

I totally agree with "Victim". My mortgage was sold twice inside of 3 months, and ended up with Countrywide. I was told that my payments with Countrywide would start in September when actually they started in August. September 4th I received a Notice of Default from Counrtywide, which was my first contact from them. I didnt even get any payment book from them. I have tried to get this worked out and have sent in my financial info as requested 3 times now, to no avail. So you tell me, what's a person supposed to do in this situation? My credit is 200 points lower because of this, and now I'm in foreclosure. Lawyers have told me that Countryside is in shutdown mode basically, and are not working with anyone since they are being bought out by Bank of America. When is this going to stop? It is beyond crisis stage when you see whole communities being foreclosed on. They should work things out....even reduce the interest rate .....something! go to www.msfraud.org I have been to that site many times and it's apparent that I'm not the only one going through this crisis.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Marcos — Sat, 05 May 2007 11:00:00 GMT

I too am in the Loss Mitigation Business, because I was a Loan Officer and I saw so many people who purchased homes or refinanced, lose their homes within a year or two. Not because of irresponsibility, but because of ARMs, because of Jobs leaving this country and because of predatory lending of other companies. Investors are not the bad guys, they are the ones actually SAVING the market by keeping properties in play.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Abby — Mon, 09 Apr 2007 11:00:00 GMT

I am in pre-foreclosure, but have not had any official notification from the lender yet. What do I do to prevent losing my house? I'm about $19,000 in arrears on mortgage payments.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Guillermo Martinez — Wed, 05 Jul 2006 11:00:00 GMT

Is there any help for the homeowner after the property has gone through foreclosure? My home was sold on the 4th of july. I checked and I am told that the Loan Servicing company that I am trying to deal with bought the property. Now I must move when told to.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Butchwax — Tue, 11 Apr 2006 11:00:00 GMT

I am now in the loss mitigation business. Why? Because I was 3 days away from losing my home. I submited a workout package to my lender and their solution was to have me pay more than double my monthly payment. I failed after 2 months. I then negotiated a short sale, knocking $40,000 of the orginal payoff. My point is this. Through the entire process I was contacted by several crooks, it is my duty as a loss mitigation counselor to protect my clients and their homes from these preditors.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

James — Sat, 18 Mar 2006 11:00:00 GMT

Indeed one sided it is. Like mentioned earlier there are crooks in every industry. Those of us that do provide a service to disstressed homeowners by saving there credit score, and possibly being able to keep them in their home. If not some investors will help with relocation. Because of this article I met a couple who'd rather go to court and risk losing their home then try to find a solution.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

KC Homebuyers — Mon, 29 Aug 2005 11:00:00 GMT

Can we get away from demonizing all investors? Yes, there are some out there that do take advantage of homeowners, but there are bad people in every industry.

The lenders are NOT easy to work with and don't care much about the homeowner. Their workout plans are near impossible at best, so it takes an experienced mitigator to get a workable plan in place for a homeowner.

Do some research before launching the "all investors are crooks" campaign next time. You do a disservice to all of us.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Elbows — Sat, 27 Aug 2005 11:00:00 GMT

The article does not disclose the fact that lenders sell the loans to mortgage servicers, who then become the homeowner's nightmare. Mortgage servicers do not work with the borrower. They foreclose.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Whats Your Beef? — Tue, 23 Aug 2005 11:00:00 GMT

I found the article above unrealistically one-sided. What if a family is in a house they can't afford? The lender is not going to "work it out" the lender will foreclose, the family will lose the house, and the homeowner will be unable to buy another house, even a house she really can afford.

In that case, an honest real estate investor can purchase quickly and save the family the foreclosure.

(By the way, I am NOT a real estate investor.)

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

try to help — Mon, 22 Aug 2005 11:00:00 GMT

Yes there are many lenders out there only trying to make a buck but if you happen to be with a Credit Union or even a bank, whether its local or nationwide, you are more likely to get help than someone who is just a mortgage lender like Ameriquest or ditech, who charge high fees, prepayment penalties, foreclose at a moments notice and are not regulated like banks are.

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

True Story — Sat, 20 Aug 2005 11:00:00 GMT

There are several good companies that offer assistance (yes, for a small profit) who have actually saved many peoples homes from foreclosure (including mine). you cannot trust your lender and the research for this article should know that by now. Perhaps it was written by the MBA?

RE:In Trouble With Your Mortgage? Call Your Lender - Now!

Victim — Fri, 19 Aug 2005 11:00:00 GMT

Actually, your lender isnt your friend. False foreclosures by lenders is escalating rapidly. See MSFraud.org and read the horror stories about lenders and servicers forcing people out of their homes so they can soak up the equity in fees and flip the property for a profit. They even fabricate negative credit and report it to the credit agencies, so you cant refi through someone else. Im a victim.