Wilshire Credit Wilshire works with the HOPE program? they claim they will assist homeowners in keeping their homes, they DO NOT Portland Oregon

This is in response to K. from MA who stated that with a Wilshire forebearance agreement you will not be thrown out of your home. This is not true. That depends on the wording that Wilshire puts in that forebearance agreement. We signed a forebearance agreement. After 2 months that agreement was no longer what it stated. Wilshire had changed the figures and we ended up owing more than $1,200 a month on a $74,000 loan. They state it was due to taxes which was an issue I brought up before signing the agreement but it was totally dismissed and now the added amount is over $350.00 per month. Wilshire knows we cannot possibly pay this amount so now there is no other options except to file bankruptcy. This 8is not what we want to do but Wilshire has now backed us into a corner and we have no other choice. Those forebearance papers mean nothing to Wilshire. It is just a smokescreen. I received 2 phone calls from "future whistleblowers" at Wilshire who warned me the papers contain an amount that Wilshire would not stand by. They were right!!! Forebearance papers mean nothing because Wilshire just goes past those and does whatever they wish. Sounds as if K. has not dealt with a forebearance agreement with Wilshire. In real times and with a reputable company maybe that would be true but Wilshire is not a reputable company and these are not good times. These people cannot be trusted.

The same thing happened to us. It not only happened once but twice. I notified the HOPE number (Money Management International) who had put all three of us on a third party call. When Wilshire did not meet the time limit or the conditions of what they quoted the HOPE people had no where else to go and all they could do at that point was to say they were sorry. This happened twice. You need to send a complaint to HUD about what happened. I did but HUD may take forever in contacting you and if you are on a time limit with your loan this will not help. This is one of the things I have a real issue about. HUD should have investigators set up to check out the same people they are referring the to the public to use for mortgage servicers. Whatever you do cover yourself. Write down everyone you spoke with at both places and the dates. It helps when you have names and dates. Wilshire is mainly working with investors who own our homes. Many investors. These investors are now needing their money desperately and the Merrill Lynch and Bear Stearns people who are now working at Wilshire are working there for the interests of those investors. They are wanting their money, not bankruptcies. You have to get one person at Wilshire who knows what they are doing, who will work with you and stick with that one person because the other half of the people there are morons and seem not to care if your home is foreclosed on. Personally, I think that HOPE is a waste of time. All they are is a middleman. I finally went past HOPE and went straight to Wilshire and that took months. However, Wilshire will lie, lie and lie. Get it in writing. I know so much about Wilshire that I know more than Wilshire. Everyone there has a name and a title to go along with it but know nothing, and every time you call you get the recording "Wilshire is a debt collection agency ------". I am sick of hearing that. Why they (a non-secured collection company) are handling secured home loans is one thing I will never know!!! That should be an issue all of its own!!

File a complaint about them with HUD. Wilshire is FDCPA violators, they are RESPA violators. They complaints you file should be with every federal agency you can file with starting with the Federal Trade Commission and going upward from there.
One of my previous complaints/answers about Wilshire contains the federal agencies to file with. Good Luck and God Bless!!!!

The difference here, and it seems pretty major, is that if you get a forebearance you aren't going to be evicted from your home. Not the case if you stop paying.

In either case you are delinquent, and they are obliged to report you as such.

The difference here, and it seems pretty major, is that if you get a forebearance you aren't going to be evicted from your home. Not the case if you stop paying.

In either case you are delinquent, and they are obliged to report you as such.

The difference here, and it seems pretty major, is that if you get a forebearance you aren't going to be evicted from your home. Not the case if you stop paying.

In either case you are delinquent, and they are obliged to report you as such.

The difference here, and it seems pretty major, is that if you get a forebearance you aren't going to be evicted from your home. Not the case if you stop paying.

In either case you are delinquent, and they are obliged to report you as such.