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If a company offers to save your home from Foreclosure be very aware!

posted Jan 12, 2011 04:04:09 by sheebe
My husband and I have been trying to get a loan Modification for over a year. Wachovia gave us a code and said that it went through, only to find out they denied us a week later. When we faxed everything they asked then they would call and say they never got the faxes. We went to another place and they helped us and actually went out of their way, Wachovia seemed to agree to do it and then they told the company no. If someone calls or sends a letter in the mail and tell you that they can help you but it will cost money, don't do it. It is against the Law to do that and I cannot tell you how many letters and phone calls we have got from them. Losing your home is not pleasant and very upsetting. I was injured on the job in August this year and I am Workers comp. They don't pay crap and so I couldn't pay my share so my husband had to do it. We were a couple hundred short on the House Payment because we had to pay the Utilities, and other bills like my car payment. Wachovia would not accept the payment. Needless to say we are in a short sale right now and it is scary as hell. My husband is a incredible talented man and his work is hand crafted and he doesn't do short cuts but that has changed dramatically. Even though I am real sad I have to keep it together because it isn't worth getting worked up when you cannot do anything about the situation. Then you have these crooked companies telling you that they can stop the Foreclosure and you can live in the house for up to 36 months without paying a dime. We are not trying to get over the Bank, we don't want to lose our home and we will not just walk away from our home because it is worse if you do that. Remember don't pay a dime to a company if they tell you it will cost money, this one that called today wanted almost 1,000.00 dollars up front and that is illegal. Most loan modifications are not going through it is a very small percentage that is able to get that. When Wachovia told us they would lower our payment they raised it another 1,300.00 more which was 3,400.00 and they called our home owner Insurance without notifying my husband and paid it through the whole year charging us 1,900.00 and paid our Property Taxes. We didn't have a problem with paying our property taxes what so ever or our home owners insurance, so what gave them the right to do what they did? Stay clear from Wachovia they are crooks to the hilt and they were one of the banks that got some stimulus money from Us.
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Dilligaff said Mar 08, 2011 21:13:27
There are so many scammers out there that it is interesting that the State and Federal government are not stepping in to prosecute them. There are a lot of warnings on the state, and Federal sites, but no effort to quell them. Not only are the people being taken advantage of but the false hope of saving ones home is devastating to them. It is unfortunate, no, not unfortunate, it criminal, that this economic situation was allowed to happen at all.

Where is the "Tea Party" on this matter? Why are they not massing together to try to put a stop to all this? It is only going to be the people en-mass that will correct this. You can write, FAX, e-mail, call, all you want, to your congressman, government agency, bank, and all you will get from them is to try the normal channels. The problem is, none of them will be able to help. From all the digging I've done on the net and through legal assistance, the statics show that all the families that have tried, only six percent receive any type of modification help, and only one percent of them are able to keep their homes after the modification. Those are pretty dismal statics, but what can you expect when the government steps in to help. There was a news item in mid Feb. of 2011 that congress was now going to step in and cancel the Obama Save Your Home plan, as it was such a dismal failure.

With all the foreclosures and short sales going on, it is driving the value of all homes downward. Add in the devaluation of the dollar, and it becomes a black hole for the realty market. Many folks think that it will never affect them, but what happens, if for some reason you wish to sell, or have to refinance? For most of you, it will hurt. With the new guide lines, the new debt to loan ratio, you will most likely not be able to refinance as your home has less value. Same will happen when you go to sell. If you believe as most do, that the realty market will turn around, it will, but there will be another major down ward trend in the realty market this year. It may even prove to be more devastating than the current one. If it does happen, and the majority of trusted economist predict it will, it will take longer for us to recover than the Great Depression. If you don't believe me, all you have to do is a little Reading, sort out the highs and lows, settle somewhere in the middle, and what you will conclude, won't be pretty.

Good Luck to all of you.
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