First and foremost, I am a very responsible single parent. Initial loan from Amtrust Bank was for $260,000. Monthly Payments of $2350.
Post financial hardship I qualified for Modification loan after 6+ months of $1,526.10 on-time sent via UPS. Amtrust Bank promised Trial Modification Payments to go toward loan upon approval. I owed end of 2009 $257,000. I was approved, then Amtrust Bank unannounced sold my loan to Saxon Mortgage Services, Inc. I found out after receiving a Collection letter from Saxon Mortgage Services, Inc. I opened the letter and fell to my knees in panic.... they had no record of my Loan Modification of $1526.10 monthly payment.
I had to fax 11 pages of official Amtrust Bank loan modification notarized. In addition, they had increased my Loan amount to $284,000. and gave me Zero credit for my 6+ months payments of $1,510.26. and refused to do so claiming my increased loan amount was because of corporate cost with purchase of my loan from Amtrust Bank.... Saxon increased my payment to $1860.01 per month by 2010 they had increased my loan up to $315,000 even with tax document records showing I had paid $22,000. on my loan. After Saxon Mortgage Svs, Inc. sold my loan to Wells Fargo Bank.. It appears they are aka's already.
I requested detailed list of how the increased loan amount was made without cooperation. During this ludacris time I had placed my home for-sale for a total of 20 months prior to the foreclosure. I had agreed to short sale as did Saxon however when my realtor tried to communicate with offers and process of moving forward minimal to no communication. We had a cash offer 4 months prior to the foreclosure of $235,000. the interested buyer 3 months later offered $215,000. the home across the street with larger square ftg and a finished basement sold for $235,000..
Saxon Mortgage - Wells Fargo refused offer had a appraiser to come out and appraise my home at $269,000. after 20 months on real estate market with a lot of activity however potiental buyers felt somewhat over priced. We still had the cash buyer wanting to purchase at short-sale $215,000. offer. Again Mortgage company refused to take offer. very soon after less than 30 days my home was sold at the courthouse steps for $215,000. upon foreclosure....This was totally unjust to myself, my neighbors, nor my neighborhood association as there had only been one home of foreclosure therefore, decreasing the property values in the neighborhood and showing up as a foreclosure vs. a short-sale when we had a cash buyer at the same amount sold upon foreclosure at the courthouse steps.
I am so disappointed in the system and I feel a mockery was made of President Obama's plan to assist home owners and financial institutions to help our citizens with good payment records to keep their homes. I See the facts and know the actions of the mortgage companies were selfish and fraudulent! My daughter and I now are homeless! We are living with family to survive...On Dec 19, 2011 I was involved in a serious car accident and dealt with this nightmare and having our home ready in a moments notice to show to potential buyers... I have not been able to work since the accident.... The system truly failed!