My mortgage company refuses to help me. I just found out?

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from them that they do not refinance on FHA housing. Which is what my loan is. They talked me into doing this 6-month forbearance plan and now that the 6 months is up, I was going to continue regular payments. But, they are telling me they cannot do a “loan modification” because I don’t have enough income, and they want me to pay all this money back, from the 6 months, that I only paid half of the house payment. They screwed me and I didn’t even see it coming. I feel stupid, but now I learned a dear lesson. How can these banks ge away with this? I don’t think these banks are trying to help people at all!!

  1. Reply
    Not I
    April 30, 2011 at 12:46 am

    It is not the mortgage lenders job to help you.
    Their job is to get the money back they lent you
    Your responsibility is to learn about your finances.
    Try looking for a new lender before you lose your house

  2. Reply
    SSG D
    April 30, 2011 at 1:25 am

    Find a lender that will, there are plenty out there

  3. Reply
    Carrie Anne
    April 30, 2011 at 2:14 am

    That previous answer was probably from an executive of Hsbc Mortgage or Countrywide. Yes, we are responsible for our own finances, however…when the mortgage companies were about to go under, our Government gave them millions to bail them out. And, in return, one woud hope that in good faith, these banks would return the favor of our precious tax payer monies. When unmploment is at its highest, when millions of Americans dont have health coverage, and when countless Americans continue to live in Poverty….we bailed out the mortgage companies, in the hope that perhaps they would be more flexible and accomodating to those people who wanted to keep thier home. The Economy will be better, if people stay in thier homes. And, how did that work out? Well, my mortgage company with thier now fat wallets couldnt wait to foreclose on me. They mis led me, Misrepresented themselves, made me believe one thing, then do another. Yes, I have a financial responsibility to handle my own mortgage, however the mortgage company who has the privilage to do business in this country, also owes this Country and its People some bending of the rules, and some flexibility. Why should the mortgage companies have to follow by theier book and simply “collect a debt” when clearly that book was tossed out when our unconventional approach with the bailout was adopted. We deserve at the very least, that these banks make as much as an effort to help people modify thier mortgage loans, as they did lining up to take our taxpayer money to keep thier (*&^&*$ &$ ))( out of bankruptcy.

    As to your question, … get a lawyer, get some help, do anything you can to fight this and fast. Dont let them take your house underneath you. Dont let people make you feel like its your fault, and make you lose faith. There are millions of people just like you who are going through this, and the banks are doing none of the promises they said they would. My bank did that to me, and i was devastated. My biggest mistake? Trusting them, DONT TRUST them..get some advice or help from an expert, and quick. These mortgage companies are slimy, manipulative and misleading. Good luck to you, hold your head up high, and keep your dignity… go fight these dispicable companies that take advantage of the American People in thier most vulnurable state.

  4. Reply
    Expert Realtor
    April 30, 2011 at 2:38 am

    Honey, they don’t have to.

    Find another lender to do your refinance and when you get approved MAKE SURE you tell them that someone else did it and that is why they are losing your account.

    But sweetie, it sounds like you bought a house you cannot afford…if that is the case, and if you are struggling this much, you really, really need to consider selling it.


    They didn’t screw you…you knew what the terms were when you closed on the house.

    If your job changed or you bought above your means…don’t blame the bank.

  5. Reply
    Mr Placid
    April 30, 2011 at 2:47 am

    Your contract (mortgage) stipulated that you would make certain monthly payments each month. I guarantee there was nothing in your contract (mortgage) stating that the lender would be obligated to modify your monthly payments when you fell behind.

    Smart homeowners are letting their underwater mortgages go into foreclosure. Look at the benefits. Say your mortgage payments & taxes are $ 2000 per month. Now, by not paying for the last six months, you have saved $ 12,000. If you refuse to make any other payments, the lender will eventually foreclose. It will take many more months before that happens, probably at least another 6 to 9 months. By the time all is said and done, you would have lived in the home for better than 12 months while not paying a single dime. You can then take your savings, which is now at least $ 24,000, and make a down payment on another home, or rent a very, very nice apartment.

    I know some homeowners in my neighborhood who have lived in their homes for close to two years without making a single mortgage payment.

    The banks are losing their collective shirts with this mortgage crisis. The beneficiaries of this mess are homeowners who took out the large loans, and then let their homes go into foreclosure.

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