Real Life Battles,
Helping Americans is not the purpose of Banks, and mortgage servicer companies who only saved themselves at the expense of all others. These Big dogs saved themselves with corrupt bailouts and they are eating competition, consumers, and tax payers... while all others were left starving they have gorged themselves.
This letter from an American that was sent to me, in response to one of my YouTube videos.
SEPTEMBER 24, 2010 This Email letter, was sent to the "MikeJaegerLive YouTube Channel"..
Dear Mike:
I am on the verge of crying as I write this, I have just been informed in calling GMAC on a recorded message that our monthly payment beginning October 1, 2010 will be $ 1642.70 not the $1530.11 as agreed upon when the permanant modification was signed on September 21, 2010. If I could Fax you this paperwork for your review, may be then it would give you a better perpective. I am also informed that this may change when they recalculate at the end of each year depending on if there is and overage or shortage in that account, which means the payment can increase or decrease. I understood that from the beginning but never exspected it to increase now.
Apperantly there was a shortage in the escrow and that was not factored into the modofication until the final analysis was performed which I have been informed was done on September 24, 2010.
I have also inquired that our loan was intiated thru MILA serviced by HOMECOMMINGS and then GMAC the investor is Resedential funding Corp.
Regarding the Hardships that lead us to this point. In September of 2008 I left a job working as a Customer Service Rep for Untied Health Care a postion I held for almost four years, for another position with a smaller company, and out of the Call Center enviroment and excepted the position as a Administrative Assistant, with a company that installed Geo Thermal Heating units in residental homes and bussiness property's, only to be informed nine weeks later with the news of a beginning crash of the economy and that banks were not lending money to consumers or small bussiness's. This company's bussiness fell off as consumers could not finance there projects. So I reported to work to be informed that they had to let me go, and his wife was again going to assume the office duties. I applied for unemployment, which my previous employer United Health faught as they maintained I had left there company of my own accord. We were able to make the October 2008 payment but did not have enought income to make the November 2008 payment. We were never late on any payments and have owned this house for ninr years. I checked into to refinancing with multiple lenders and brokers and did not qualify becasue of that one late payment.
I immediatly contacted then Hommecommings with word of a plan to help struggling home owners...and out rolled Pres Obamas plan to help. I went on line and researched all the requirments and guidelines. I contacted ACORN as they were in the four front in helping people modify there homes, what a night mare that was, after they had not assigned me a case manager after four months of continuous calling and the attempt to even getting me in touch with a person that would be assigned to our case even after we submitted all of our financial infomation, tax records and completed the required financial counseling paperwork. I became frustrated with the process and then had to contact a HUD couseling service ien Bay WI ( Neighborworks) and again had another financial counseling session, which was the requirement of a loan modification, submitted again all of our financial information. Only to be advised by them to submitt the paperwork on my own to Hommecommings, print the documents off on line, since they did not have a Loss Midigator that knew anything about the Loan Modification process, so I rolled up my sleeves and I was basically on my own.
Funny thing I received a phone call from the University of Tennessee in April 2010 regarding a survey they were taking. They wanted to know my satifaction rating regarding my modification with Acorn. You can imagine how that went. ( I was the Bitch then )
In November 2008 I was able to secure a part time (32) hours per week job as an Administrative Assistant for another Insurance company at which time we contiued to make the $1549.00 a month payment but then they tacked on Escrow due to to the default on the loan. We were on a slippery slide. This process took one year to get a trial Mod. On July 20, 2009 I recieved the first trial mod were the payment was 1603.63 per month at that time I was advised not to submitt any payments until the due date of September 1, 2009. The document clearly states that ( Your remaining trial period payments in the amount of $ 1603.63 will be due on or before the due date provided in the work out plan. These payments should be sent instead of, not in addition to, your normal monthly mortgage payment) on the trial mod which they did not inform you should you get a permanant mod the lapse in payments would be put on the back side of the loan.
The job I secured in November 2008 was eliminated in August 2009, the company sited economic reasons, this happened right before our first trial mod payment was due September 1, 2009.
In November 2009 I again enlisted the help of a HUD agency Homestead solutions in Oshkosh, WI, as GMAC was requesting updated income verification, and I was no longer employed. With the help of Homestead Solutions we were asked on December 15, 2010 to submitted another financial package for review with updated income information supporting the loss of income, five months passed and we still maintained the payment of 1603.63 per month, even after informing them we suffered a job loss and continually submitting updated financial information.
I received a denial letter regarding qualification for a HAMP mod in April 2010 but then received a permanant In house modification package from GMAC, on April 28, 2010 (8) months after the inital trial Mod began. The matter was escallated to HAMP escallation team by Homestead solutions ( HUD) representative HAMP got involved with GMAC and investigated there bussiness practices for the Loan Mod's after the complaint was filed and they were advised to modify this loan as the requirments had been met. In review of what GMAC did by the HAMP Escallation team and Homestead Solutions it was discovered, they only used my income (unemployment Bennifits) which did not qualify for the HAMP MOD and not my partners ( Boyfreind) who has been living here with me for nine years and is on title to the property. But the GMAC in house mod offered to us included his income. We evenuatlly had to submitt a document to GMAC that indicated he wanted his income to be used in the calculation of the household expenses.
GMAC approved us for there In house Modification on April 28, 2010 with a payment was 1584.11, And again do not sumitt until the due date of July 1, 2010, more interest payments to by placed on the back side of the loan. I contacted Homestead Solutions and we again were still maintaining the $1603.63 a month payment which began in September of 2009 with the information and informed them that they based that mod on my earning while employed. Upon contacting the ( HUD) rep and myself, GMAC pulled the In house Mod offer off the table. At that time they were offering a 26 year loan @ 6.25 % Interest including PITI and only indicateing the balance on the loan was 204,827.77.
I was then again asked in May 2010 by (HUD) Homestead Solutions and GMAC to resubmiit another work out plan with our current financial infomation and tax records and such. And last but not least we were again submitted our third trial offer on begining June 8, 2010 with a monthly payment of $1497.88 which has just ended on September 1st and which brings us to the current Modifaction
( HAMP) Modification they have worked out for us which the offer we needed to except under duress with a payment of $1530.00 including PITI at and interest rate of 5% for 26 years in addition to which our mortgage note went from $204.000 to
$ 219,139.35 as they included the Interest amounts on payments we were asked not to submitt in lue of the Trial modification.
Then this morning I was informed that our first payment of $ 1642.70 will be due on October 1st 2010. Now you know why I almost was crying apparently there is a shortage escrow of 2,000.00 and apparently they made the final calculation on September 24, 2010 due to the shortage there is and increase in the payment. Remember they received our modifcation signed per there instruction by Sep 21, 2010. I have since been in contact with out ( HUD) rep who is checking in to it.
This is my story, however there is much left out with working with Acorn ( Glad it is closed). I have files like a library. I have become a Mortgage broker a loss mitigator and attorney and banker and last but not least a Bitch, because I had to fight for two years to save our home and the battle is not over yet.
It appears to these establishments that money is the need and deed is the greed.
Please use my story if it will help others, you have my permission. If we do not speak out how will our voices be heard. I think I will become a Tea Partier this year.
Any help you can provide me will greatly be appreciated.
Sincerely.
Withheld for privacy reasons,,,
Mike Jaeger Live blog
