I can't believe in this day and age that a company can pretty much get away with commiting extortion tacticts with it customers. Our story bares a striking resemblence to many of the sotries I have read and alike many of my friends and neighbors have also endures by this and many other companies a. How can the athorities allow these extortionist get away with cornering the market in realestate and stealing thousands of hardworking american homes out from under a crippled nation. If this company and others like it are allowed to continue it's shady practices, no doubtely the majority of the nation will be homeless in the end and be left with credit ratings damaged beyond repair with slim to no hopes of being financialy stable enough to purchase another home in their lifetime.
We saw our rates double, just as the housing market bottomed out and our house lost a whopping 80,000.00 in value, which left us no options for refinancing our home. Ultimately we had been taken for a ride by three seperate companies following three aprasials and 2 set of loan processing fees later, and as for the helped offered by our own state government; well that was just a fading promise because in order to qualify for help our home needed to be appraised at at the very least our current total mortage payoff amount, FAT chance, so the government that promised to help only turned out to be as useful as a set of screen doors on a submarine. We finally stopped believing in the pipe dreams offered by soliciting mortage companies, and sought our oun bailout plan, we consulted a lawyer. Ultimately we filed a bancrupcy chapter and kept our home out of forclosure and actually was able to have our second mortage confirmed as unsecured debt and filed into the bancrupcy, when all is said and done our payments will be lower and our final loan amount is now marketable and as soon as the housing economy starts to turn around we will actually have positive equity in our home, and as for our credit; well it would have been ruined with a forclosure anyway and we can build positive credit history with our continued payments to our first mortage balance. I would advise any and all of my fellow Americans to do the same!!! Let these compaines bear the burden of their own unsecured debt they brought onto the nation with their outragious adjustable rates and shifty practices.
How can the fedral government allow these companies to steal the nation right out from under the American people with no recourse or accountability, and contrarilary have been rewarded with a national bail-out program and were awarded bilions of American TAX dollars to continue to screw the nation on home at a time. I feel like I am in a MONOPOLY NATION, and just a pawn on the board of a realestate game of life.