Barbara
Sebring,#2Consumer Suggestion
Mon, January 30, 2006
Your situation is very disheartening Janet. Undoubtedly this nightmare has taken a heavy toll on your family. A Jacksonville, Florida article on liar loans will perhaps give you some vocabulary to express your pain to the banking regulators. Joe in Miramar, not all banks are adverse to flipping properties. Think about this, a fat judgement will hang over Janets life, and most likely a new loan will generate up front fees for this bank or some other one. The state of banking right now makes one wonder about all the rhetoric of our "ownership" society. Are we really making progress in that area, or are we setting up an entire class of consumers to be traumatized at the benefit of shareholders? Again this is very disturbing.
Janet
Rockford,#3Consumer Comment
Mon, January 30, 2006
Hi I would like to clarify that we did try to get Ameriquest to stop foreclosure.But they made our payments so high. The payments were 1300 and that was with out the late fee as I stated before our loan was for about 20,000 more to payoff then when we started with Ameriquest. And we were susposed to get a refi on our adjustable rate after a year into a fixed rate which did not happen as promised.It was a Bad Experience all around.
Joe
Miramar,#4Consumer Suggestion
Sun, January 29, 2006
If you do get into trouble with your mortgage the best thing to do is to contact your lender. If you have a legitimate problem most will offer solutions to help you out. A forbearance agreement for example. Most banks do not want to take over properties. They don't want to take risks having the property not sell for what is owed them. And they don't want to be landlords. Once you do get a foreclosure notice you should respond to the bank by certified mail saying that you dispute the foreclosure and are contacting an attorney. This may not stop the foreclosure but it should buy you some time. Kind of like when you get a ticket and you dispute it. The judge might deny your ticket but you got an extra couple of weeks to pay for it. Disputing the foreclosure will give you time to consult an attorney or work something out with the bank or give you sometime to get current.