- Report: #236024
Report - Rebuttal - Arbitrate
Complaint Review: Wilshire Credit Corporation
Wilshire Credit CorporationP.o. Box 8517 Portland, Oregon U.S.A.
Wilshire Credit Corporation.ml.com Number one company as Foreclosure Specialist Portland Oregon
*Consumer Comment: Just a response
*Consumer Comment: WILSHIRE CREDIT
Upon notification of my loss of employment I contacted Wilshire immediately to see what I needed to do and to explain what had happened. After speaking to a Customer Service Representaive I was told that I would be sent a package containg materials that I would need to complete and submit to Wilshire. I did everything that was required from filing Tax Information, a financial statement and so on. I submitted the infroamtion as directed by 12.21.05. I was told that I would be notified by Wilshire in writting within 60 days.
I did not hear from them so I contacted the Customer Service department again stating that I have not heard anything, again they sent me another package and I was to refile everything again, I did as directed. Still I heard nothing from Wilshire either by phone or in writting as promised. Then on the 24th of February I did receive something in writting, but it was not from Wilshire but from the Warren County Ohio court with the foreclosure papers.
Upon receipt of these papers I immediately retained a lawyer. With my lawyer now in place I thought that something could be done as I was now at this time again gainfully employed, I also contacted Wilshire as soon as I got my new job, and guess what, Wilshire sends me yet another package asking for the same information that I had already sent, but I sent it again.
My Attorney after several failed attempts to have conversation with Wilshire, finally did have someone call him and stated that they would reinstate the loan but had added $22,900.00 in fees. So for me to be reinstated I had to come up with all of this in cash. When I told them that this was not an option they, wilshire came back with a repayment plan of $7,000.00 per month plus my regular payments.
I tried to get a home equity loan to do this but with having a foreclosure on my credit report this was impossible. Again Wilshire asked for more information, requesting the same things that I had sent three times before. So to make a long story short I ended up sending Wilshire Credit Corporation the same infromation a total of eight times.
I felt my first Attorney was not doing anything worth while with this situation, I retained yet another Attorney and Wilshire pulled the same thing on him. Requesting information again as already sent and raising the fees, we are now at $32,000.00.. Even attempts by my attorney to contact Wilshire's Attorney in Cincinnati did not prove fruitful as the Attorney for Wilshire also did not return calls to my Attorney.
We were now really getting dwn to the wire as the Sheriff sale was scheduled. I tried everything I could to get the financing necessary including the additional fees to save my home. I was scheduled to go to closing three times only to have Wilshire stop the proceedings again asking for more information.
At one point they requested to have their appraiser do an interior appraisal and I would have to settle based on the wilshire's appraisers findings. My attorney did put a stop to this request as I was only responsible for the amount of loan.
As a last resort I had arranged to sell my home and rent it for year and buy it back from the rental company at 5% over value. My attorney called Wilshire's Attorney and he in turned called Wilshire directly only to be told no that they needed more inforamtion. Now I only had 48 hours before the sale of my home at the Sheriff's sale. Both my attorney and the buyer of home tried to contact the Wilshire Attorney and never heard back from him. Now, to late, September 18, 2006 came and it was sold to a Real Estate Flipper at a consideable loss to Wilshire Credit Corporation.
After the sale my Attorney finally did speak to the Wilshire Attorney after I had written a very nasty letter only to be told that Wilshire did not want to deal and my waiting until 48 hours was not enough time to complete the sale back to the rental company.
I am now lead to believe that Wilshire and their Attorney had someone lined up to buy my property at a considerable savings and flip it. I am very happy to say that the home is still for sale and the price is way out of line, so it just may sit forever.
I never had anything happen like this before and I have owned a home for over 30 years. Now in my late 50's I am forced to rent a home, lost all equity, ruined my credit, has stressed my marriage of 39 years, and has embarrassed me to the fullest extent possible.
I am a professional person and very well educated with a very very good job and no home to go to. What really sucks is the fact that I was able to rent a home only two doors up from my old home that was stolen by the Number One Foreclosure Specialist in the Country, Wilshire Credit Corporation and I have to ride by it everyday. Where else does one go with only three days to vacate the property, Yes only three days notice. Also, I attempted to buy my home back from the person who bought it at the sale. Guess what he would sell it for $40,000.00 more to me than waht he paid for it at the sale. he contacted me two weeks after he bought it.
Also,I was never given anything to sign.... Seems strange how Wilshire can just waltz in and take whatever they want. I never got a thank you or nice to do business with you sucker!
I ask that all who have been taken advantage of by this low life company band together and file a civil suit against Wilshire. I am in the process of filing my own suit against them, I may not win but by God I will sure try. We need to close them up and contact our State Legistrators and Governors of our States and banned this compnay from doing any more home mortgage business or lending business. Wilshire you owe us lots and lots of money.... We want our homes back!!!!
Wilshire robbed me of my home and my money. I had moving expenses and of course legal fees. To add injury to insult I was told that I was past due on my mortage from October 2005 up to sale. I paid my October mortage payment to my old mortage company and was NEVER notifed by Wilshire or my old company that my mortgage was sold. By law they must notify the consunmer within sixty days, well they did not. So I even lost my October 2005 payment.
Wilshire will bleed you for everything you thought you owned. You know mortgage companies such as Wilshire should just be called LANDLORDS but in fact, one owns nothing and has no rights according to Wilshire Credit Corporation.
Dissappointed, Rejected and Homeless
This report was posted on Ripoff Report on 02/15/2007 12:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wilshire-Credit-Corporation/Portland-Oregon-97207/Wilshire-Credit-Corporationmlcom-Number-one-company-as-Foreclosure-Specialist-Portland-O-236024. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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