I purchased my home in 2001 and was sold before I made it to the closing table. I have been sold so many times, I can't keep up but Fairbanks/SPS is where I have ended up. I have never missed or been late on a payment.
When the economy hit Detroit hard,I moved to Tennessee, leaving the house in Detroit empty knowing things would work out. I was doing very well, even puchasing another home. Two house payments were not a problem. Then I was laid off from Dell for my age (too old for them) in July 2008 and have not been able to find any work at all. I have managed to make both house payments until January 2009.
In July as soon as I was laid off I called SPS telling them I was OK for now but could foresee problems if I didn't find a job soon. They didn't offer any help at all. I have made monthly, weekly and daily calls as things got worse to no avail. First they laughed (actually laughed - how humiliating) at me and said you are negative in income so what good would it do to lower your payment, you still wouldn't be able to make it. The only suggestons they had were a short sale, sell it for what I could get or foreclosure. They have adamantly been pushing me to move back to Detroit because I won't get any help if I am not the primary resident. If anyone knows anything about Detroit, everyone has negative equity. SPS said they couldn't do a modification and they don't do refi's. I would have to find a third party to do that. THey are only a servicing company and only collect the debt.
Then I applied for early social security and called back saying I had some income, they refigured and decided I still didn't qualify for anyhelp of any kind because now I CAN make the house payment so I don't have problems. I told them I don't have enough money because I have two houses to pay for. The nasty person I talked to said very smugly, oh yes you will have enough to cover the house payment because you will be living in Michigan. I said I wouldn't be able to find employment al all if I moved back and she said you won't need to work because your social security will pay the housepayment - and that is all it would pay!
Paying the housepaymet wouldn't be a problem at all if I got the social security check at the beginning of the month instead of after the grace period is past. I asked if they could change my payment just a week or two and they refused. I would have to refinance to get the payment date changed. She said if the payment is late, I will go into foreclosure. I couldn't pay the payment on time, I guess I will lose the house to 8 years of perfect payments and 1 late because they wouldn't bend. One last note. I was furious and not very nice. I told her this housing mess is due to crooks like them. She very calmly told me I created my own problems. (I guess I chose to be laid off and chose to not find another job and chose to have my social security check come late to irritate her.
Actually she told me I was abusing her!!) I made the choice to sign a contract to make house payments in 2001. I didn't have to make that choice so I created my own problems now. I chose to sign a contract with the mortgage company on my original paperwork, I didn't choose to be sold to any crook out there without my knowledge or approval.
HOW DO WE BAND TOGETHER TO GET THESE GUYS BEFORE IT IS TOO LATE!!
DOES WASHINGTON CARE ABOUT THIS???