This is a gentleman that has been fighting with Countrywide for a loan modification and he made a post in my forum that actually brought tears to my eyes. Everyone’s motivation to save their home is different but it all has to deal with saving their AMERICAN DREAM.
There are literally hundreds of thousands of people who are going through this and my heart goes out to each and every one of you. Please keep the faith and don’t give up the fight.
Thanks for keeping me motivated man!
“Thanks for the support Moe. I think it is very important to actually try to talk to someone who actually seems like they care and have some pride in doing the job they are being paid to do. The first guy I talked to today should be fired. Complete incompetence. He claimed to be a shift manager…that’s scary.
On a lighter note here is a picture I took a few nights ago from my front patio. You can see why I don’t want to lose my house. Nice view..huh?”
Explain why you don’t believe in taking responsibility for one’s own actions…
Dealing drugs might be a “predatory” job, but everyone knows to stay away from them. So why should “debt addicts” be any different???
Let me be clear, I’m not defeending the mortgage brokers, banks, etc., but I don’t see why debt addicts should be execused either. They deserve each other.
I’d also add that most are not “homeowners”. If you buy something with someone else’s money… you may be granted temporary control of the asset, but you don’t own it. They do. The foreclosure process rightly speaks to this fact. This is a redo of the 1920′s, but instead of buying stocks with 5% down, people bought (borrowed) homes.
Ignorance isn’t a defense… ask any judge.
I love this analogy because I equate what went on over the last 5 or so years to the drug trafficking.
The only difference here, is the drugs these lenders were pedaling were deadly. You had the dealers (lenders and brokers) and the users (homeowners).
The problem is that the people that took the hit of the dealers drugs did not realize that it was in fact (deadly drugs) They didn’t know they would die from these LEGAL drugs. Lenders knew they would eventually die, so essentially it was all premeditated.
So the users who made the big mistake of taking that first hit from the dealers will suffer and they are suffering. But the consequence should be far worse as they are in real life when you commit a crime in premeditation as did the lenders in selling these toxic loans.
They do not deserve each other. Some lenders deserve to be on death row and some homeowners just need to go to a detox clinic.
True, but predatory lending is and that is a great defense. Placing someone in a loan they cannot get out of is ‘predatory’. These loans were sold for short term affordability and the understanding that they would be able to finance out of them. They can’t now so these loans were originated on fraudulent terms and promises.
Homeowners are victims, not ignorant.
“PREDATORY SERVICING”
I really like that one ! ! !
- Paul
I thought you’d get a kick out of that one.
This is great that your doing this Moe. It shows through this whole website and LoanSafe that you mean well.
Everyone has a different motivation like you said. Mine is because my home has been passed down 3 generations. I was foolish and I took out a loan with a low teaser rate. I was assured by my broker when I signed loan docs, that I would be able to refinance out of the loan. I asked home 3 or 4 times. I told him I didn’t want the loan and he said it was the best loan you can get and all his managers and even the owner of the company had the darn loan. So, I of course thought, this must be a good loan. Obviously it wasn’t and now I am facing foreclosure.
My rate went up 3% and I can’t afford it. My family is going to lose a home that was where my father and his father were born. They are even buried on our acreage in a private cemetery.
What do we do? Move the bodies?
Moe, God bless you. I have learned so much and I plan to join your forum. I have been reading it for a month now. I’m just a little shy.
another link about countrywide
http://money.cnn.com/2007/10/09/real_estate/loan_workouts_cw/index.htm?postversion=2007101014
Gwen,
My heart goes out to you. This has to be one of the saddest stories and it’s a shame that this is happening to you and your family. Please stay strong and do what you can to save your home.
You need a good legal aid and consumer advocate attorney fighting for you. Please search your area for one that will FIGHT for you.
Yes, everyone has a different reason. But we all have the same goal. TO SAVE OUR HOMES!
God bless you also and please feel free to call me anytime.
Sincerely,
Moe
You always come through with the good stuff! Thanks and I will be blogging about this tomorrow.
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One only need go to MSFraud.org to see how lenders fabricate foreclosures out of thin air to force people into foreclosure. It’s been going on for years.
[...] to the bsuiness as usual in the mortgage servicing industry. Call it what you like, I call it predatory servicing becasue that’s exactly what it [...]
What can you tell me about California company Capital Network Funding and their history please and is it customary to do out of state re-fi’s ?
Over the past six months, my account has been systematically
forced into delinquency by the predatory servicing practices of
Homecomings Financial. These events are well documented and
plainly indicate a deliberate effort by Homecomings to expedite
the foreclosure of my home. Predatory Lending. CASE IN POINT:
My online account is routinely unavailable- usually on or around
my payment date- which prevents me from using their electronic
system. Billing information is inaccurate or out of date and any
attempt I make to bring my account current is counteracted by
such tactics as delaying or reversing payments, applying them
retroactively to cover those they’ve delayed or reversed and
refusing payments that would cure the default.
Also well documented are my repeated attempts to get assistance
through their fictitious Loss Mitigation process- a calculated series
of roadblocks erected to create a paper trail for the company while
keeping me from recourse by making it appear as if I’m unresponsive
to their contrived outreach efforts. Predatory Lending. CASE IN POINT:
They continually send letters requesting that I call to discuss my
options, schedule meetings or fax information but when I do, I’m
referred to someone who’s on vacation, my call is dropped during
transfer, appointments are no longer available or my fax is never
received.
Their methods are transparent and though I find it unbelievable
that a company would victimize it’s customers so ruthlessly, the
facts speak for themselves. There are hundreds of complaints on
the internet and in the courts from similarly situated individuals
who’s experiences establish a pattern of abuse by Homecomings
that insures the company’s profits at the expense of the borrower.
I have filed complaints with the FTC, the Attorney General, the BBB
and various other regulatory agencies and I urge anyone who has,
or suspects they have been victimized by this company to follow suit.
I don’t know if we can save our homes but perhaps we can prevent
further harm by demanding that Homecomings take responsibility for
their devastating actions and address the situation appropriately.
So, is anyone doing anything about this? Has anyone dealt with First Horizon on this?
[...] everyone say, “predatory servicing?” Welcome to mortgage servicing [...]
[...] everyone say, “predatory servicing?” Welcome to mortgage servicing [...]