On Nov.12, 2012 I faxed all required forms for a loan modification based on financial hardship. I have been unemployed for over 3 years and avidly looking for work since December of 2011. I have over 25 years experience in the metals industry and have been on many interviews, but no job. My husband is self employed as a steel broker. In March of this year, we had to drop our health insurance due to lack of income. He is diagnosted with cardiac myopothy and takes medication for his condition. We own our home of 20+ years.
We have been able to maintain our good credit and make our house payments on time up to last month. Our income year to date is $33,000. We have been forced to only pay only minimums on all of our lines of credit which is quickly getting to their limits. We donot smoke or drink, so our grocery budget is for food only. We have sold almost all of our personal belongings that had any value to pay bills. Our monthly expenses are around $4000, which includes a $2100 house payment.
Our cars are old and we are struggling just to maintain them. I have lost my front tooth due to peridontal disease and going to a dental school for treatment. We are on a payment plan to an attorney because Healthnet continued our coverage for two months that we did not know about. We are also on a payment plan to the IRS because we were unable to pay ALL of our taxes in 2010, when we actually had some income. We also have borrowed money from friends and family this year.
We have been informed that we did not qualify for a loan modification because we did not meet their definition of financial hardship. I was told that their criteria required a death or divorce. I know of many people who got loan modifications from their lenders because their lenders wanted to do the right thing. Green Tree referred me to quicken loans because they have no intention of helping anyone in need. I would like to see a lawsuit for their misrepresentation of claiming to want to help homeowners with financial difficulties!