You are gripping because your mortgage company is threatening to foreclose and wants a down payment to modify your loan for your home in Arizona "all you have is $10,000 in your checking account" AND you live in Washington state???
1- most people do not have $10 in their checking account
2- most people are trying to save the homes they LIVE in
3- with $10,000 in your checking....why would they be threatening foreclosure...this to me would seem YOU did not make your payments on your beloved Arizona home for at least 15 months-the Obama plan has only existed a few months at best
4- if they want a $19,000 down payment it is due what you owe in back payments and the financial information you submitted
5- dig awhole lot deeper for sympathy, get rid of ONE of your homes and get off the pity train
I agree, do not give HomEq any money. I have been battling them since March, 2009 trying for a loan modification. They have stalled me, lost my paperwork, didn't receive paperwork, etc. I can never talk to the same person, they won't let me leave messages for that person and when I finally did (one time) get a voice mail, the guy must have quit or something because I've never heard from him again. It's always someone different.
All my insurance is escrowed into my monthly payment but for some reason, every year, HomEq doesn't receive proof of insurance so they force me to buy their insurance. I call my insurance agent, he produces proof that he faxed the information in a timely manner, then refaxes it. All is good but for some reason my payment never goes back to the original amount. My payment has increased by $300.00 a month over the past 2 years. I also receive a statement every month for "property inspection" $95.00. Boy that is a joke. I live in the woods and there hasn't been one person come to my property to inspect anything.
My cries for help have fallen on deaf ears. They don't care about anything but getting money out of you. They want me to come up with $7400.00 before they will even consider me for a loan mod. And, they can't guarantee anything. But boy, they sure don't have a problem taking food off my table so they can get theirs. I'm not asking for much. I can afford $1400.00 a month. Take that figure and do the math. 30 years of $1400.00 monthly payments is $594,000.00. My loan amount is $278,000.00. That is quite a bit of profit wouldn't you say? But they aren't happy with that.
I finally complained to the North Carolina Commissioner of Banks. They put a postponement on the foreclosure with a demand that my complaints be addressed. I don't know if it's going to help or not but I'm not going to let those legal thieves take any more of my money. I'll walk away from the house before I send a penny to them unless they can accept what I can pay them. I've worked hard all my life for everything that I have but I won't think twice about leaving it all if I have to starve to live in it.
All these companies that alot of us got sucked into should be disolved. All the brokers that got us sucked in should have their license revoked. They made their money off us and living good right now. Sounds like the tobacco companies doesn't it?
Anybody that is dealing with HomEq, please call HUD, your state's Commissioner of Banks and anyone else you can call to help you. Don't let HomEq bully you, or any other mortgage lender for that matter.
Not putting up with it in NC!