Posted on: 12th May, 2008 12:38 pm
i attempted to work with collections when i was having problems making my loan payment due to a very large auto expense. i called and asked for loss mitigation and was told i had them. nothing was ever noted on my account and the rep lied - she was actually a collections rep. now my account is in trouble and the asset rep refuses to consider a repayment plan. i can get current in 60-90 days however if i cant pay all at once they are threatening foreclosure. i keep explaining that i asked for loss mitigation and the no one believes me. just need a little time to recoup from the huge auto expense. why would they not consider a repayment plan-? we are talking about 2k here.
Hi progers,
If you have received the Breach Letter, it means that the lender is ready to work out a repayment plan with you. It's not that you have to pay the full amount - may be the lender will offer you a separate repayment plan or loan modification. I think you should talk to the lender asap.
"the calls at my company are recorded and I have pulled the recorded conversation from March when I called and asked for loss mitigation to advise them of my auto problems and ask for a repayment plan."
It's good that you ahve recorded the calls. But I'm not sure whether they allow to play the recording in court.
Hope this helps...
God bless you.
Samantha
If you have received the Breach Letter, it means that the lender is ready to work out a repayment plan with you. It's not that you have to pay the full amount - may be the lender will offer you a separate repayment plan or loan modification. I think you should talk to the lender asap.
"the calls at my company are recorded and I have pulled the recorded conversation from March when I called and asked for loss mitigation to advise them of my auto problems and ask for a repayment plan."
It's good that you ahve recorded the calls. But I'm not sure whether they allow to play the recording in court.
Hope this helps...
God bless you.
Samantha
Wow its great you have recorded conversations at work because she definatley misled you. Have you attempted to contact the loss mitigation department again?
Sorry last two post where from me.
I would suggest that you demand to talk to another rep or a supervisor there to get something worked out.
I have had two HUD Housing Counselors working on this and they have not helped. I have been requesting a repayment plan for close to 90 days. My current HHC was in the midst of trying to get me a repayment plan in the last 2 weeks has been in contact with this rep and he has STILL submitted a foreclosure to the court. Also the amount has increased about $3000. $1500-2300 to $5300. Yes... I have called an Attorney. I have researched and found this bank has close to 100 complaints at our Attorney Generals office regarding mortgage servicing. Mostly, misrepresentation, failure to disclose and as in my case-prematurely launching foreclose proceedings. I am also filing a complaint against them at the Attorney Generals Office.
hi progers,
if you think that your lender has misled you, then you can surely file complaint at the attorney generals office. btw it is good that you are taking help from an attorney.
i don't understand if you are requesting your lender for a repayment plan then why is he foreclosing? it will not help him either. i think if he is foreclosing then you can avoid it by filing bankruptcy chapter 13. you should consult about it with your attorney.
hope this will help. keep us posted :)
best of luck,
larry
if you think that your lender has misled you, then you can surely file complaint at the attorney generals office. btw it is good that you are taking help from an attorney.
i don't understand if you are requesting your lender for a repayment plan then why is he foreclosing? it will not help him either. i think if he is foreclosing then you can avoid it by filing bankruptcy chapter 13. you should consult about it with your attorney.
hope this will help. keep us posted :)
best of luck,
larry
Hi pwillis,
Welcome to the forum.
Good suggestions. Why don't you say something about yourself and let the community know about yourself at http://www.mortgagefit.com/introduce-yourself.html
Hope you will enjoy participating and helping people out on the forums.
Best of luck,
Larry
Welcome to the forum.
Good suggestions. Why don't you say something about yourself and let the community know about yourself at http://www.mortgagefit.com/introduce-yourself.html
Hope you will enjoy participating and helping people out on the forums.
Best of luck,
Larry
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