Comments on: Mortgage Servicers Need to Change Their Mob-Like Collection Techniques http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/ Loan Modification & Home Loan News Fri, 19 Mar 2010 01:22:18 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: ann http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4471 ann Sat, 24 May 2008 08:01:49 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4471 I have had a very difficult time. After fixing mold in my condo I took the equity and purchased a home three years ago. The realtor forged my escrow docs and we have been in litigation for fraud breech of contract and non disclosure for three years. I was three months behind in mortgage payments due to the cost of legal fees, mold remediation (realtor conspired with inspector she insisted to hire) and was not safe and 40 grand in undisclosed code violations. she was the dual agent for the guy in her office that was the agent seller owner and builder of the home. long story short. I have renters now in the house and live with my family. I can cover the mortgage that way only but am behind. they are calling 20 plus times a day and put it into forclosure it is in CA. I have 450 grand invested in the home which is everything I had. They promised on tape to renegotiate the loan if I made a good faith payment with an extra 40 a month. I did so. no new loan docs. april comes they claim they are on the way. I send another nearly three grand. two weeks ago they call the note saying if I dont cure the 19 grand default (4 grand in fees) that they will foreclose. I asked about the renegotiation and they told me that the rules had changed. they milked me for an extra 6 grand. what do I do? ready to lose it all in CA I have had a very difficult time. After fixing mold in my condo I took the equity and purchased a home three years ago. The realtor forged my escrow docs and we have been in litigation for fraud breech of contract and non disclosure for three years. I was three months behind in mortgage payments due to the cost of legal fees, mold remediation (realtor conspired with inspector she insisted to hire) and was not safe and 40 grand in undisclosed code violations. she was the dual agent for the guy in her office that was the agent seller owner and builder of the home. long story short. I have renters now in the house and live with my family. I can cover the mortgage that way only but am behind. they are calling 20 plus times a day and put it into forclosure it is in CA. I have 450 grand invested in the home which is everything I had. They promised on tape to renegotiate the loan if I made a good faith payment with an extra 40 a month. I did so. no new loan docs. april comes they claim they are on the way. I send another nearly three grand. two weeks ago they call the note saying if I dont cure the 19 grand default (4 grand in fees) that they will foreclose. I asked about the renegotiation and they told me that the rules had changed. they milked me for an extra 6 grand. what do I do? ready to lose it all in CA

]]> By: Callie http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4467 Callie Thu, 08 May 2008 16:52:31 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4467 Which 3rd party Loss Mitigation Companies are legit? Which 3rd party Loss Mitigation Companies are legit?

]]> By: Robert http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4469 Robert Wed, 07 May 2008 13:06:23 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4469 If you think an attorney can help you stop your foreclosure, think again. Most attorney have their head up high. What makes you think their fees are reasonable? If you really deep where your like 10 months behind, the best thing to do is contact a bankruptcy attorney and file a chapter 13 right away! If you are working with an attorney on your loan modification, the chances are they will charge you addition fees to fill a chapter 13, if they are specialized in bankruptcy! the court charges their fees,and this is something not disclosed in this website. If you think an attorney can help you stop your foreclosure, think again. Most attorney have their head up high. What makes you think their fees are reasonable? If you really deep where your like 10 months behind, the best thing to do is contact a bankruptcy attorney and file a chapter 13 right away! If you are working with an attorney on your loan modification, the chances are they will charge you addition fees to fill a chapter 13, if they are specialized in bankruptcy! the court charges their fees,and this is something not disclosed in this website.

]]> By: Robert http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4468 Robert Wed, 07 May 2008 12:35:25 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4468 I can understand that many of you are facing financial difficulties. What many homeowners do not understand is that when you hire a modification company to contact your lender on your behalf is that they are on the phone 2-3 hours a day making sure that all the documents provided are received, and in the process of being underwritten or being reviewed. I don't disagree with Bob. This website state do not pay anyone to help you do your loan modification, but there are advertisement of attorney to review your paper work, and also this company founder also charges you to review your paperwork. There is no difference. There is a contradiction in the statement on this website. I have been in the mortgage industry for 10 years, and you will always have loan officers who come and go, but understand that because of people who cashed out their equity to buy new cars, take vacation, and over spent. The banks and people like me are suffering for it. You people are grown adults, and should know better! Bank over analyzed on the booming market, but it doesn't mean you treat your house like a piggy bank and spend all your money and then blame the bank for what you spent your money on! I'm sure at 1 out of 10 had different situation. It's like giving a drug addict to sell drugs. How could you expect the drug addict to sell his drugs and make a profit. It's unfortunate that people who are responsible have to suffer for this situation! People with bad credit complain they can't get even approved for a FHA loan. Do you seriously think the government can help people who are in this boat? Raising the conforming loan limits because people can't support their monthly income. I can understand that many of you are facing financial difficulties. What many homeowners do not understand is that when you hire a modification company to contact your lender on your behalf is that they are on the phone 2-3 hours a day making sure that all the documents provided are received, and in the process of being underwritten or being reviewed. I don’t disagree with Bob. This website state do not pay anyone to help you do your loan modification, but there are advertisement of attorney to review your paper work, and also this company founder also charges you to review your paperwork. There is no difference. There is a contradiction in the statement on this website. I have been in the mortgage industry for 10 years, and you will always have loan officers who come and go, but understand that because of people who cashed out their equity to buy new cars, take vacation, and over spent. The banks and people like me are suffering for it. You people are grown adults, and should know better! Bank over analyzed on the booming market, but it doesn’t mean you treat your house like a piggy bank and spend all your money and then blame the bank for what you spent your money on! I’m sure at 1 out of 10 had different situation. It’s like giving a drug addict to sell drugs. How could you expect the drug addict to sell his drugs and make a profit. It’s unfortunate that people who are responsible have to suffer for this situation! People with bad credit complain they can’t get even approved for a FHA loan. Do you seriously think the government can help people who are in this boat? Raising the conforming loan limits because people can’t support their monthly income.

]]> By: Bob http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4470 Bob Mon, 28 Apr 2008 13:53:00 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4470 Boy Moe, sounds like you are assisting people in cheating the system. Two wrongs dont make a right. You should really think before you write about ways to swindle and steal. Boy Moe, sounds like you are assisting people in cheating the system. Two wrongs dont make a right. You should really think before you write about ways to swindle and steal.

]]> By: bel http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-10308 bel Mon, 17 Mar 2008 01:01:57 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-10308 Ok...ok. no wi have haerd enough.... The banks are guilty, not the pesron who took the cash and ateit all up! Can't pay the bank, but it's not your fault for being a Big PIG!!! It's the banks, the should have realised that you are blameless, and not liable for your own bad decisions! People have been using ther ehouse like an "ATM" for the last 7 years, now the money has run out.... What did you do with that money from that loan??? p/o credit debt? where did that credit debt come form? and why? All the banks did was make loans to people, who are now saying they we not mature enough to handle their own finances... But they were mature enough to sign the loan papers and take the money and spend it!!! GROW UP !!!! B.E.L. Ok…ok. no wi have haerd enough…. The banks are guilty, not the pesron who took the cash and ateit all up! Can’t pay the bank, but it’s not your fault for being a Big PIG!!! It’s the banks, the should have realised that you are blameless, and not liable for your own bad decisions! People have been using ther ehouse like an “ATM” for the last 7 years, now the money has run out…. What did you do with that money from that loan??? p/o credit debt? where did that credit debt come form? and why?
All the banks did was make loans to people, who are now saying they we not mature enough to handle their own finances… But they were mature enough to sign the loan papers and take the money and spend it!!! GROW UP !!!!
B.E.L.

]]> By: Clarks Loan Investments http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4466 Clarks Loan Investments Tue, 11 Mar 2008 22:08:28 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4466 This is Clarks Loan Investments. We are into helping people get out of financial problems. Do you need a loan; do you have had credit but serious need financial help? Have you been turned down by banks and lending homes?. We offer out financial help to the public with low rates of 5% and from the range of $2,000 to $100,000 (Personal Loans) $20,000 to $5,000,000 (Business Loans) 100% Project, business and personal Funding with secured and unsecured loans available. We are guaranteed in giving out financial services to our numerous clients all over world. With our flexible lending packages loans can be processed and funds transferred to the borrower within shortest time possible. We operate under a clear and understandable terms and we give loans of all kinds to interested clients who are approved by our funds approving dept. More in formations about our firm contact us via email. Interested clients should please fill the borrower's form below. Borrower's In formations Name: Location: Amount Needed: Country: Phone Number: Thanks for your time. Clarks Loan Investments E-mail: clarks_investments@hotmail.com This is Clarks Loan Investments. We are into helping people get out of financial problems. Do you need a loan; do you have had credit but serious need financial help? Have you been turned down by banks and lending homes?. We offer out financial help to the public with low rates of 5% and from the range of $2,000 to $100,000 (Personal Loans) $20,000 to $5,000,000 (Business Loans) 100% Project, business and personal Funding with secured and unsecured loans available. We are guaranteed in giving out financial services to our numerous clients all over world. With our flexible lending packages loans can be processed and funds transferred to the borrower within shortest time possible. We operate under a clear and understandable terms and we give loans of all kinds to interested clients who are approved by our funds approving dept. More in formations about our firm contact us via email. Interested clients should please fill the borrower’s form below.

Borrower’s In formations

Name:

Location:

Amount Needed:

Country:

Phone Number:

Thanks for your time.

Clarks Loan Investments

E-mail: clarks_investments@hotmail.com

]]> By: Nick http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4465 Nick Wed, 05 Mar 2008 16:13:47 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4465 Good points, homeowners can do most of the loss mitigation on their own. Sometimes the hardest part is dealing with the lender or even getting them to answer the phone and respond to voicemail. That seems pretty ironic since their collections department has no problem calling homeowners all day, but their loan workout department can't seem to answer the phone or call anyone back. But if the homeowners can not get a call back, then a third party loss mitigation company will probably not have any more success. And the third party companies have far less interest in saving the home. Good points, homeowners can do most of the loss mitigation on their own. Sometimes the hardest part is dealing with the lender or even getting them to answer the phone and respond to voicemail. That seems pretty ironic since their collections department has no problem calling homeowners all day, but their loan workout department can’t seem to answer the phone or call anyone back. But if the homeowners can not get a call back, then a third party loss mitigation company will probably not have any more success. And the third party companies have far less interest in saving the home.

]]> By: Reality Check http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-10307 Reality Check Mon, 25 Feb 2008 16:00:47 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-10307 Why does everyone seem to think that because their home is depreciating in value, that is what the loan should be modified to. So what when the values start to rise again, shouldn't their loan be remodified to accomodate the influx in value. What do all these people go to Vegas and complain to the pit boss they want their money back when they lose!!! GET REAL PEOPLE! You are the con artists and you are trying to make the economy who does have common sense about financial matters pay for your mistakes. Why does everyone seem to think that because their home is depreciating in value, that is what the loan should be modified to. So what when the values start to rise again, shouldn’t their loan be remodified to accomodate the influx in value. What do all these people go to Vegas and complain to the pit boss they want their money back when they lose!!! GET REAL PEOPLE! You are the con artists and you are trying to make the economy who does have common sense about financial matters pay for your mistakes.

]]> By: JacMac http://loanworkout.org/2008/02/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4464 JacMac Mon, 25 Feb 2008 11:44:22 +0000 http://loanworkout.org/2008/02/21/mortgage-servicers-need-to-change-their-old-mob-like-collection-tecniques/#comment-4464 Anyone who needs help needs to post a message on the Loansafe forum, the link is right on the top, on the left hand side. Please DO NOT POST YOU PERSONAL INFORMATION, SUCH AS YOUR ADDRESS, PHONE NUMBER, EMAILS, THAT IS VERY UNSAFE ON THE INTERNET! Anyone who needs help needs to post a message on the Loansafe forum, the link is right on the top, on the left hand side.

Please DO NOT POST YOU PERSONAL INFORMATION, SUCH AS YOUR ADDRESS, PHONE NUMBER, EMAILS, THAT IS VERY UNSAFE ON THE INTERNET!

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