The Soup Nazi from the TV show Seinfeld was known for his abusive customer service skills and saying, “NO soup for you, to the back of the line!” Now, it appears that he is working at Wachovia in the loan modification department.
Attention American homeowners, the FDIC, the OCC, the FTC, Barney Frank and anyone else who will listen to this BS coming from a bank that must be afraid of write downs and or is about to go under or implode.
The word is out, Wachovia is NOT offering loan modifications to struggling homeowners at risk of losing their homes.
Apparently as of June 30, 2008, several employees and negotiators have communicated to my staff that they have stopped modifying mortgages and will only offer short term “payment help”. Anything that involves modifying a note, a loan modification, they absolutely will not do.
There is one exception to Wachovia’s new rule that Loan Safe has found, predatory lending. Mortgages with federal and state violations and or mortgage fraud are being looked at by their legal departments and modified on a case by case basis.
If you are a Wachovia client, this may be the only way to get a loan modification.
Scary times we live in.
It looks like Wachovia is leading the charge of predatory servicing by holding people hostage and chained to thier mortgages by making them live the “‘American Nightmare” one toxic mortgage payment at a time.
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