Help needed re: mortgage

[laylah]

My home mortgage is held by a leading mortgage lender that is currently in hot water. This particular mortgage lender was taken to court by a man in PA who had declared bankruptcy, reaffirmed and then found his figures to have been altered. During the course of the trial, the mortgage holder's attorney ADMITTED that their client had fudged and altered this person's loan figures.

I, too, went through a bankruptcy once I became a card carrying member of the "Divorced Wives Club". My initial loan (with same mortgage lender) was for $35k, I had to pay close to $3k to reaffirm. Just today I had an epiphany! WTF is my loan amount doing being almost $48k? I do have an equity line of credit for $13k.

My thought is they took the 1st, added the 2nd to equal the first (hoping I wouldn't notice...which I didn't until today...DOH!) and are still charging me for the 2nd!

Please, if anyone has any ideas how to proceed, I would appreciate your help.

In the meantime, I have sent them e-mails asking these same questions and requesting all paperwork since their purchase of this loan in 2002.

Thank you all in advance!

[grasswire]

1. lawyer up

Maybe a local sliding scale non-profit law group could help you. I know that at the local law school, students supervised by professors do this kind of civil work for consumers.

[laylah]

3. Thanks..

that is my next step. I am currently thinking about withholding payments. Putting them into a savings account until I get all the documents I have requested. Your thoughts on that?

[hfojvt]

2. you have a line of credit that you have not used?

And yet you are paying interest on that amount? That sure seems like a screw job. Possibly one that you signed up for when you agreed to the line of credit. Which would give you two options. First, actually get the money from your line of credit and use it to pay other debts, or two, get rid of that line of credit.

[laylah]

4. Oh no...

I DO have a $14k line of credit I DID use; however, my initial loan plus the equity line equals what they are saying my 1st is and are still charging me for the equity line.

Thanks so much for your input. :hug: I am at a loss!

[hfojvt]

11. is it possible they are giving you double statements?

Or are you making double payments? I always tracked all of my loans on spreadsheets. If you have all of your past statements you should be able to set up a spreadsheet. First, you may need an accountant before a lawyer like people are suggesting. Somebody who does volunteer tax help might help you with that and should have the financial skills.

[Raven]

5. Absolutely! Lawyer Up! I have heard the exact same story from someone

I know up here. If you can't afford a lawyer, call your state Attorney General's office...Consumer Affairs. Make an appointment to see someone. Sounds very fishy to me!

[laylah]

6. Thanks Raven....

that is my thought exactly. Currently the Attny. Gen. of IL is investigating this company. I did send an e-mail to them the other day.

I am actually embarrassed it has taken me this long to figure it out! :blush:

[knitter4democracy]

8. I wouldn't be embarrassed at all.

The fine print on those things is so long and so oddly worded that all kinds of stuff is slipped in that we don't know about. Then, you think you can trust the monthly bill, so you just pay it. That just makes you normal. :) Don't forget, they're the criminals.

[laylah]

9. ...

:hug: :yourock:

[laylah]

7. a kick 'cuz i need input! nt

[grasswire]

10. you might also consider contacting your local news channel...

...to see if they have an investigative unit. Sometimes they are able to do the footwork to see if other complaints have been made and generate some publicity. Just be careful not to slander/libel anyone.

[Lex]

12. Your mortgage at the time you entered into it was recorded at your county

register of deeds or courthouse.

It's easy to get a copy of that and that instrument will show the original amount and date you borrowed.

If your current balance (shown on your statement) of that same mortgage is now thousands of dollars higher, despite your records of paying each month, then you have a good paper-trail that the mortgage lender has been up to something illegal.

More information and contacts here:
http://www.mortgagesfinancingandcredit.org/mortgages/complaints-regulatory/ftc7.htm

[grasswire]

13. I found a phone number...

...for people to call when having trouble with lenders and banks:

1-800-613-6743

This is for a government regulatory agency at the Office of the Comptroller of the Currency. They will direct you to the right person to help.

Also, you have the right to file a complaint under the Fair Credit Billing Act. On your statements should be a listed address where you can write about billing concerns.