Recent Feedback
My Loan servicing company turned my loan over to another servicer back in sept.'11. At that time i was on a repayment plan. The new servicer wanted the full amount right then. I explained i do not have it. So they suggested i do a home mortage loan mod. and put the arrears at the end and lower my interest rate. I agreed, since then i have filled out 5 HAMP packets and now i'm receiving Foreclosure letters from a lawer. In this time frame i have spoke with 16 different people at this company never the same one. What should i do?
Optional Information: Country relating to Question: United States State (if USA): Louisiana Already Tried: working every available thing they have asked to do.
Good evening. Your bank is acting like a typical bank.They think because they have all the money, they can simply shove this stuffdown your throat. And, most of the time, they do because people pretty muchfold their tent and just take it. But, you should not. To gothis route a borrower should write the servicer a certified, return receiptrequested letter detailing the history and demanding that the lender resolve this in accordance with the borrower on terms that work for the borrower within a short specifiedperiod of time or the borrower will have no choice but to file a claim againstthe lender. The borrower would want to mentionthat this claim will be filed as a bad faith claim, which will entitle theborrower not only to actual damages, but Punitive Damages as well. Many times, only the suit needs to be filed,because the bank is just like a big bully....i) they beat up on people becausemost people let them, and ii) they back down quickly when someone actuallycalls their hand......the bank knows that when taken to court, they have aproblem for two reasons...1) the judge will enforce the law rather thanallowing the bank to simply make it up to suit their own needs; and 2) if ajury is selected, the bank knows it's like the "Revenge of the Nerds"where everyone on the jury that has ever been screwed by a bank or other bullygets to exact their revenge....though they shouldn't, each juror brings theirown lifetime biases to that jury room.
I hope this has given you information that has beenhelpful to you. If the information seems more general than specific, please beaware that we are only allowed to provide information and not specific advice. If you have a follow-up question, pleaseremember that there might be a delay between your follow up questions and myanswers because I may be helping others or taking a break. If you need additional clarification on thisquestion, please do not hesitate to click Reply and I will be happy to do whatI can to help you further. Thanks for allowing me to be of service to you. Pleasebe aware that the information provided here is not legal advice. Rather it issimply general information. All states have intricacies in their laws andany information given is simply information only and specifically is notintended to be, nor does it constitute, legal advice. This communication doesnot establish an attorney-client relationship with you. I hope this answer has been helpful toyou.