Living in remote and secluded Chihuahuan Desert of Far West Texas. We were doing the right thing- paying our mortgage off early and getting our business ready to whether the economic storm. Then the feds shut down Taylor, Bean & Whitaker, and our lives fell apart.
Even though we paid an extra $150 to TB&W every month for almost 5 years, Ocwen Mortgage Servicing immediately started sending us default notices. When they deleted our final TB&W payment from our payment history and reported us to the credit card companies, our rates started rising and our limits started dwindling.
Then Ocwen sent us a notice stating that our mortgage was going up almost $800 a month because of past and future escrow. But we owed no escrow because we always paid our own insurance and property taxes.
If you think only the deadbeats and irresponsible got hurt in this mortgage meltdown, you are wrong. We were simply in the line of fire when the government finally stepped in to take the bad guys down in 2009.
Even though our hell only began AFTER the intervention, we know it had to happen. We are one of the success stories for HAMP, and are now in the process rebuilding our lives and our business.