Four years ago we were given a loan modification from our mortgage holder. Without naming the big bad bank, just know that it is one of America's big banks.
After lowering our monthly payment from $1867 to $1207 we were glad to finally be over our financial struggles. After making two monthly payments of $1207, our payments were returned to us. The bank stated that they would only process FULL payments. I advised them that these were full payments since entering into our loan modification, whichwas to last through the year 2038. The bank stated that we DO NOT have a loan modification with them. I advised them that I had their contract in my hand. They then stated that it must have been a three month trial period for payments. When I informed them that it was not a three month trial modification because the contract ran through the year 2038 they simple stated that I was wrong, period.
For the last four years, (April 14, 2010 to present) the bank has told me that they would get us onto a viable plan with the making homes affordable government plans. After repeately sending documents at least a dozen times and resending documents they claimed they never received, we were told that they have great news for us. They got us on a great plan. A three month trial payment plan with payments of $1879 per month. After advising them that that payment is higher than my original payment that gave me the hardship they advised me that I should do everything I can to make that paymwhat my original ent.
Months later they came back to me again asking for everything PLUS a pint of blood. Sending, faxing & overnighting every piece of paperwork on numerous occassions got me another one of their great offers. This time they were granting me a three month trial payment. Monthly payments for this one...$2546, more than double the original payment of $1204 that I began making as a result of their loan mod contract back in April of 2010.
So here we are four years later, the bank ruining my credit because they go down as late because they havent accepted payments yeat they still havent foreclosed even though they threaten us with it.
If there is any help out there, my family would be so thankful for your kindness. We will certainly "pay it forward" when we are out of these dire straits.