Misunderstanding leads to foreclosure - Posted by Lena

import · April 17, 2005, 5:55am

Posted by Gary Meek on May 19, 2005 at 24:57:59:

Look at putting yourself into a reverse mortgage. This will help you to get your credit cleaned up and get you back on track. You can refinance your home back to a normal type of mortgae at a leter time, shoul you choose to do so.

import · April 17, 2005, 5:55am

Posted by Lena on April 17, 2005 at 05:55:37:

I was trying to refinance my home. My loan officer told me I did not need to make my mortgage payment, because it would get paid off after the closing. (He’s denying this conversation by the way.) My current lender put me in default, and said I must pay over $20,000 in in back charges I accumulated over the last 8 years…or they will foreclose! I do owe these charges, but they were never due in full until I started to refinance. I sent in a check for the “late” mortgage payment ($1,600.)but they just applied it to my back charges, not my actual mortgage payment. So I am still in default. I tried to work this out with them, but they will not respond to me. Additionally, my refinance was cancelled. My loan officer says due to their policy they cannot do the deal because my mortgage company (EMC mortgage) says I am in default…two months now.
Can I still get a refinance? (I have over $100,000 in equity, I am a disabled senior, I have lousy credit). What legal recourse do I have to stop this foreclosure?
Thank you.
Lena

import · June 13, 2005, 3:32pm

Re: Misunderstanding leads to foreclosure - Posted by nye lavalle

Posted by nye lavalle on June 13, 2005 at 15:32:57:

please contact me and do a search on my name. I think I can help you
and would love to help you bring down these scamsters!

import · April 17, 2005, 2:02pm

Re: Misunderstanding leads to foreclosure - Posted by Frank Chin

Posted by Frank Chin on April 17, 2005 at 14:02:27:

Lena:

I’m not kidding, but the fastest and cheapest thing for you to do in your situation is to contact your local newspaper and TV station. While you’re at it, contact your local politicians, as they’ll be anxious to help and credit for it in the news.

I hate to say this, but “big bad bank” versus “disabled senior” is very news worthy, and its usually the “big bad bank” that loses.

I had a problem with an insurance company paying me once, dragged on months and months, and they promised to pay me the very week the news reporter called the president of the company and questioned the state insurance department. For me, it was cheaper and faster than getting a lawyer.

Frank Chin