Posted on: 28th Oct, 2010 04:14 pm
he was my same town residence in vietnam and now he is a san diegan like me.his wife helped me something to get a job.then in 2002 they asked me for help to buy a house in serra mesa. they told me just co-signed to help them because he had child support problem and he didn't have good credit score, after he had child care problem solved he would build credit score and althought he had money but then he could not have name in the title because of child care problem; also he promised to refinance soon after they bought the house. but when i agreed to help them with this condition they turned me to co-borrower when they did paperworked with broker and loan officer with second loan on arm!.
after that i asked them to refinace they avoid. he reasons that if they refinance they have to report higher income resulting in lower refund from irs; he even had not or maybe has not built credit score saying that building credit score is easy but he did not want to. they let some people share their house to make some money too. that is their very deceitful cunning plan because they paid monthly mortgage and any other bills then the house is their property and i do not have any portion in it at all. we helped them buy a house but they don't refinance as promised but quarrel with us without reason, and talk bad and impolitely about us with some our friends. we think they plan to do that so that we cut relation with them in order they put loan on us.
then later the house price is decreasing they asked me to help them apply for loan modification with our income through the help with a lawyer's office but the bank denied.
in 2007 the house price decreased more and we bought the house because it is affordable to us.they still apply for loan modification but untill now their application has not been approved yet. suddendly shortly after we, i and my wife, bought our house they had stopped paying monthly mortgage causing my credit score dropped significantly.asked why they do that they answered, " if we don't do that they never consider for loan modification." and she told one or some of her friend that by doing that they live free! then he asked me through an interim to abandon the house then he helped me to recover the credit score! but when i ask them to apply for a short sale, they deny, reasoning they want to keep the house. by that way they don't pay monthly mortgage at all, they have income from their sharing-house relatives, also destroy my credit scores.
even they make us lose credit score they still ask us to give them our income proof to have them qualify for loan application but i denied.
then they apply for loan modification through an office and one of his agent said that the office helped them apply for loan modification with their own income. only about two months later he-the husband- asked me to give them my 2009 income tax return because the bank needed that for loan modification. i asked him where the statement from the bank is, he said the bank officer called him to tell so. about several months later they told me to write a letter to certify that i never help them anything to pay monthly mortgage and bills and that i have not been interesting on the house anymore ( i think they plot to put responsibility on me for not paying monthly mortgage ). but i write a letter certify that i never pay anything related to the house and that i have no idea about interesting on the house because i am just a co-signer not the co-owner. obviously they try to put responsibility on us about not paying monthly mortgage.
in summary with their nasty, cunning plot they steal my money to make money for them ( put one half of their debt to us), destroy our family finance because of very low credit score: we cannot borrow anything from the bank, we cannot refinance our house while the interest is at record low, and even more dangerous is if their house is foreclosed my job is jeoperdized because my job needs security clearance. they do many harmful things to us. how can we do to solve that problem
[size=9:e72c74231b][color=red:e72c74231b][email address deleted as per forum rules. thanks.][/color:e72c74231b][/size:e72c74231b]
after that i asked them to refinace they avoid. he reasons that if they refinance they have to report higher income resulting in lower refund from irs; he even had not or maybe has not built credit score saying that building credit score is easy but he did not want to. they let some people share their house to make some money too. that is their very deceitful cunning plan because they paid monthly mortgage and any other bills then the house is their property and i do not have any portion in it at all. we helped them buy a house but they don't refinance as promised but quarrel with us without reason, and talk bad and impolitely about us with some our friends. we think they plan to do that so that we cut relation with them in order they put loan on us.
then later the house price is decreasing they asked me to help them apply for loan modification with our income through the help with a lawyer's office but the bank denied.
in 2007 the house price decreased more and we bought the house because it is affordable to us.they still apply for loan modification but untill now their application has not been approved yet. suddendly shortly after we, i and my wife, bought our house they had stopped paying monthly mortgage causing my credit score dropped significantly.asked why they do that they answered, " if we don't do that they never consider for loan modification." and she told one or some of her friend that by doing that they live free! then he asked me through an interim to abandon the house then he helped me to recover the credit score! but when i ask them to apply for a short sale, they deny, reasoning they want to keep the house. by that way they don't pay monthly mortgage at all, they have income from their sharing-house relatives, also destroy my credit scores.
even they make us lose credit score they still ask us to give them our income proof to have them qualify for loan application but i denied.
then they apply for loan modification through an office and one of his agent said that the office helped them apply for loan modification with their own income. only about two months later he-the husband- asked me to give them my 2009 income tax return because the bank needed that for loan modification. i asked him where the statement from the bank is, he said the bank officer called him to tell so. about several months later they told me to write a letter to certify that i never help them anything to pay monthly mortgage and bills and that i have not been interesting on the house anymore ( i think they plot to put responsibility on me for not paying monthly mortgage ). but i write a letter certify that i never pay anything related to the house and that i have no idea about interesting on the house because i am just a co-signer not the co-owner. obviously they try to put responsibility on us about not paying monthly mortgage.
in summary with their nasty, cunning plot they steal my money to make money for them ( put one half of their debt to us), destroy our family finance because of very low credit score: we cannot borrow anything from the bank, we cannot refinance our house while the interest is at record low, and even more dangerous is if their house is foreclosed my job is jeoperdized because my job needs security clearance. they do many harmful things to us. how can we do to solve that problem
[size=9:e72c74231b][color=red:e72c74231b][email address deleted as per forum rules. thanks.][/color:e72c74231b][/size:e72c74231b]
Hi tien!
Welcome to forums!
I can understand that you're facing a tough situation. As far as I can understand, you're the co-signer for the loan and equally liable for paying it off. As the mortgage is past due now, it will have a negative affect on your credit report. If the owners of the property modify the loan and keep on paying off the dues on time, then it will help you in improving your credit score. However, if the property is foreclosed upon, then it will have a negative affect on your credit report and might affect your job. You should insist them to get a loan modification asap.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I can understand that you're facing a tough situation. As far as I can understand, you're the co-signer for the loan and equally liable for paying it off. As the mortgage is past due now, it will have a negative affect on your credit report. If the owners of the property modify the loan and keep on paying off the dues on time, then it will help you in improving your credit score. However, if the property is foreclosed upon, then it will have a negative affect on your credit report and might affect your job. You should insist them to get a loan modification asap.
Feel free to ask if you've further queries.
Sussane