• Report: #546634

Complaint Review: Provident Funding

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  • Submitted: Tue, December 29, 2009
  • Updated: Tue, December 29, 2009

  • Reported By: VictorVic — California United States of America
Provident Funding
Santa Rosa, California United States of America

Provident Funding Representatives, including Michael Proctor Representatives Michael Proctor - Ball Face Lied. Now my home is in foreclosure Santa Rosa, California

*Consumer Comment: RE: foreclosure in California

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I fell one month behind in my morgage payment.  I made it the following month, but continued to be one month behind.  I contacted Provident Funding and told them when I could make the next payment.  No problem he said.  I called on the date I made the committment to make payment and was then told they would only accept a miniumum of 2 payments.  I told them I could come up with all but $100.  Michael Proctor, rep, told me I could call back at the end of the month and make the payment, as long as I called be 1/1.  I ask if he was certain because by then I would be 3 months behind and I could not afford to make 3 payments in one month.  He promised me it was not going to be a problem.  Well, I called back on the date I said I would to make the 2 payments and I was refused and informed that it went into foreclosure the prior week.  They are not acknowledging my conversation with Michael Proctor, in his notes he lied.  They said I hung up on him (I didn't) and they have no record that he said I could call back at the end of the month.

What kind of recourse does anyone have to unethical practices such as this?  Now my word against his and of course he won't return my calls. I was initially 1 month late and everytime I called to make a payment I was told something different and they wouldn't accept payment.  They are the ones that kept brushing me off, now I'm 3 months behind with a foreclosure...simply because the reps lie, but Michael Proctor was the biggest lier.

If anyone has any advice on how I can resolve such practices I would appreciate it.  The house has been sold and is on a lease agreement, due to close mid-2010, I only need to hold on to it for a bit longer.  I've had the house for nearly 30 years, there's less than $100k owing on it.  The lender will make a profit if they sell it and will not work with me.  I can't believe they are this greedy...so much for Freddie Mac, the Government sponsored program.  They act like their wanting to help, but they don't.  They don't know the meaning of customer service and honesty.


This report was posted on Ripoff Report on 12/29/2009 01:24 AM and is a permanent record located here: http://www.ripoffreport.com/r/Provident-Funding/Santa-Rosa-California-/Provident-Funding-Representatives-including-Michael-Proctor-Representatives-Michael-Proct-546634. 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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#1 Consumer Comment

RE: foreclosure in California

AUTHOR: John - (U.S.A.)

In California a lender can not foreclose on a property without going to court and filing a Notice of Default (NOD). Once a NOD is filed, the pre-foreclosed homeowner is immediately notified and has a certain a certain amount of time to bring the loan up to date before the home goes into actual foreclosure. This amount of time is set by state law, not by the lender. Once it's in foreclosure, getting it turned around is very difficult.

On the other hand, there are houses in my neighborhood that were scheduled for auction months ago, and the home owners are still living there. So miracles do happen and some home owners do bail themselves out.

It's hard to believe that you were foreclosed on and not notified. Lenders don't like to foreclose, especially when there's no equity in the property, and they lose money. They will usually go out of their way to keep the homeowner in the property.

I suggest you find someone at the band to work with besides Michael Proctor, and try to get back on schedule. Not only are you going to lose your house, you will have a foreclosure on your credit record and your life will change dramatically.

If you can't possibly make up the payments then you need to find an investor who might be able to "bail" you out by taking over the house and making the over due payments, and at least saving your credit. That is, if your house has any equity. If it has enough equity, you might even get some "cash" out of it. But don't count on it.

In any event, there is a "grace period" between the NOD and the actual foreclosure, a period of time when you have the opportunity to make up the payments or work it out with the lender.

 

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