Blindsided. The whirlwind of life and the possibility of losing our house became very real three days ago. My husband had been out of work due to an injury in which he had to have surgery on. We were without pay and started to fall behind on our Mortgage. We called our company at the time and was told that we could not do anything until he got another job so he finally became gainfully employed in March of 2010. We thought it was a blessing, little did we know in the end of all of this it was apparently the downfall or so they say.
We had been going through a modification with the owner of our loan at the time First Franklin and due to a misunderstanding on both ends it was not completed. Then we found out that our loan had been sold to RCS and we had to wait until August 2nd of 2010 before we could do anything about getting current with our mortgage. During this period, of course we could not send in partial payments of any kind so we just kept getting farther and farther behind.
On August 2nd we called RCS and they told us that our modification would be no problem, that we needed to send them all of our information which we did and that they did not have a sale date on our house even though we knew one had been implied for September 2nd, but they told us no there is no sale date, not to worry they would get it taken care of and then everything would be current.
I wish that had been the case. We called everyday through August two to three times a day and never heard anything, but everything is fine, nothing to worry about. They requested some more papers here and there that I had already sent them but I sent them again. We started to realize a pattern with the company. We would call and ask to speak to a supervisor because we could not get our case worker to call us back and they would say "Oh well, we just don't do that here."
So it got closer and closer to sale date and still nothing. They said we have plenty of time, everything is fine. They did say by this point that they had a sale date and it was just a phone call away to stop, but that there was nothing they could do until the file was complete. So then I sent more papers in that I had already sent several times. We were promised over and over that we would get a phone call back. Did we? No sure didn't.
Then two days before the sale date we called them and they said, "Sorry you are denied because you make too much money, but if you pay $9000.00 dollars everything will be fine." I told them if I had that kind of money we would not be behind. We would have already paid it. We have four kids and was given no chance. I honestly think they did this just to come down to the wire so we had no options at all and I think that is one of the most unAmerican thing that you can do.
We got into contact with a lawyer and they said they could stop the sale so we paid them and with no time to spare they got our sale date pushed back so for now it is OK but we will see what the future holds. We called the company one more time before we called a lawyer to see if they could push the date back to give us time to come up with the money and not only did they tell us no, but they made a comment about our kids and told us that a lawyer was a waste of time, that there was nothing they would be able to do.
We still have a huge challenge in front of us, but I pity anyone who has to do with this company. They are shady and have no concern at all with helping the homeowner. I feel like they buy mortgages that are in this situation just so they can foreclose and sell people's homes. Shame on them. I am sure they would not like anyone to do that to their loved ones. What makes it worse is that had we not called back we never would have known because they were not contacting us. If anyone has the same issues as we did please send us an email at **.
FORT WORTH, TEXAS -- September of 2008, our family fell 516 dollars short on our mortgage payment due to my wife's lack of employment and the complete depletion of our retirement money. We notified Country Wide (IMPAC) in writing we would be short September, but struggled successfully to make full payments after September 2008. December 2008 IMPAC sent us a letter indicating we were being granted a 3 month forbearance of my regular monthly payments. Two weeks later a letter was sent indicating our rate had been reduced to 4% for 5 years. At the end of the 5 years, the rate would resume to the rate originally contracted.
We felt this was a solution for the 5 years. The 5 years would allow us time to research our options, so we were satisfied with the modification. The subsequent scheduled payments for the new loan by IMPAC started March 1, 2009. We paid as agreed. During May 2009, we received notification that Bank of America was now the servicer of our loan.
June 2009 Bank of America indicates we are severely past due for making smaller payments and for not making payments during the months of December 2008 through February 2009! I call to explain the agreement sent by IMPAC (AKA Countrywide). Bank of America reversed the late charge, and as always I continued making my monthly payments on time never late at the reduced rate. June 12, 2009, we received notice our loan would be transferred to Residential Credit Solutions (RCS). We continued making payments on time. We paid RCS for July and August payments.
August 2009, we received our August Payment back from Residential Credit Solutions (RCS)! RCS indicated the payment sent was reversed because it was a partial payment and that we were severely behind! They indicated once they received information substantiating the loan modification they would accept the payment. I immediately sent documentation provided by Countrywide, but they never accepted my payment. Later that month I received a call from RCS. They explained the loan modification from Countrywide was not done correctly/legally and therefore our loan was severely delinquent. I was perplexed, upset and felt this was unfair.
US Loan Auditors (USLA). At around the same time period my wife and I were at the Sacramento Fair where USLA had a booth and pursued a conversation with me. After explaining our situation, USLA felt was sure of predatory lending practices and convinced me to hire them and stop attempting to make further payments on our loan. After researching who USLA was and finding no negative information on them, verifying their existence on BBB, and seeing video spots on programs such as Good Day Sacramento on channel 31, we decided we could trust the company.
During the initial conversation with USLA services, we expressed our concern for our ability to handle a mortgage payment in addition to legal fees. Because RCS refused the previous payment, and because the representative indicated foreclosure during litigation was illegal and would prove fatal for the lender, my wife and I decided to hire USLA to pursue our case.
On October 1, 2009 I paid USLA 3,650.00 for an audit of our loan. Beginning December 1, 2009 we began making payments of 1,200 a month to support legal services to pursue our case. But now I'm worried. RCS and our second lender Specialized Loan Servicing (SLS) have stepped up foreclosure proceedings and USLA has not yet filed a complaint or assigned an attorney. Additionally, while recently searching on the internet I ran across the words US Loan Auditors (Scam), which caused me great concern.
I've read the blog debates. I haven't been convinced that they are a scam, but at the same time, I'm not sure. I see others indicating the time taken to litigate has taking too long; it seems they have not provided proven cases won yet. Quite frankly all that I have read (and I read all of the comments at that time) make me very nervous and unsure of my situation. In a conversation with USLA sometime in January 2010, USLA indicated I should be assigned an attorney soon (2/6/2010). They also indicated 25% of their cases foreclose.
On February 1, 2010 I contacted both lenders and indicated I would work with them to restructure the loans. SLS, the second mortgage holder, quickly made an offer to write off 8,000 of a 38,000 dollar loan and reduce the interest rate down to 4%. RCS, the first mortgage holder, indicates they are working on a modification, but I have not yet received an offer back.
TEXAS -- RCS-Which according to Texas news Star-Telegram is run by a high-school graduate. I have sent in requested paperwork countless times and it is never acknowledged. My "specialist" who can't even spell or write proper English does not respond to my questions. Simply ignores my requests. Says they'll get back to me on that, but never does. I have waited close to a year sending in the same paperwork over and over while they keep me in the dark.
Then one day I get a notice of default! No warning or explanation that my modification didn't go through! Do yourself and everyone else that has to suffer the imbeciles at RCS- File Complaints with your senators, BBB, FDIC, banking commission, consumer affairs, consumers union etc. Without complaints, the incompetence and sheer carelessness at RCS will just go on.
FORT WORTH, TEXAS -- First contact I had with RCS was over a year ago. I called to ask what RCS was and why they had my mortgage. The representative told me they were a "random payment center". Also, they did not refinance mortgages. And when I asked to speak with a supervisor I was told there was not one. This was the first roadblock.
The second time I spoke with a representative at RCS, I asked for information because I was trying to refinance with another mortgage company. The woman, lily, told me they could not get the information for me. I asked for a supervisor, John, who, when I asked for clarification of his statements about "attempting" to obtain the information I requested, refused to explain and he became very defensive, talking over my requests for clarification about what he was saying.
I asked for a manager. Again, manager is not available and no I could not leave a message for him. I would have to "call back later". This was the second roadblock. There does not seem to be a way to get resolution on any issue. How ironic they have that word in the business name!