By: Melinda Douglass

Melinda Douglass — Thu, 06 Jan 2011 02:18:11 +0000

After a loan mod in April 2010 Gmac never disclosed to me the fees or truth in lending how they arrived with figures.
My home went from a 63K balance to 80k balance with 13 year payoff to 30 yr from conv loan to fannie mae loan which I did not find out until today. They then listed selling bid to begin at 95k I sent request for documents with the fed ex package and signed mod papers good thing I made a copy first I have sent emails, faxes and hundreds of phone calls requesting docs.So my equity before modification was 67k now it is 35k. after freaking out yesterday I learned they should have done an equity refinance mod which only requires 5 percent equity. Not an affordable home mod which they did.
My pmi payment I have been requesting cancelled for years never got cancelled until 4 months after April mod and terms clearly state the term pmi insurance required as stipulation of loan. I have been paying on loan since 1993 so 17 years later when it is a stipulation they cancelled on their own. They do not follow the rules they have printed on loans. Flood insurance they started charging me 2k a year nver sent me a proof of policy. After hundreds of phone calls they have requesting a flood survey which they have to have in order to secure flood insurance they never sent they wanted me to pay for another one preventing me from getting private flood policy at less than a third of what they were charging. So again I call in Sept 2010 for survey and they tell me that I have always been in flood plane and should have always had insurance for flood. I have been through two tropical storms including Allison which flooded Houston completely and three major Hurricanes including Katrina, Ike, Rita and never did my home flood. So I said no one disclosed the home in flood plane for 14 years and now you are telling me this. Between the 35k extra equity they stole they are now disclosing a home non-disclosure of flood plane the house has 20k in huuricane damage to be fixed with no help from FEMA I told them they were not getting another dime until they disclosed where my equity went so they attempted another mod and lead me to believe until day of sale everything looked good, Then tole me they pulled from foreclosure sale all their lies it was never done they tacked on more money and they were the high bid imagine that. All computers were down day of sale and woould not be up until 24 hours after sale of foreclosures which happens once a month then I repeatly call and never disclose who I am and just review situation and was told Ms. Douglass they even knew my name you did not get paystubs here in time must be 7says before when letter from them and several verbal conversations says 1-2-11 sale is 1-4-11 it was there on 12-31-10 and confirmed again housr not in sale pulled on 12-28-10 well all was a lie attorney says they never informed them to pull house. The new loan mod was to take place 1-4-11 as scheduled and sold back to GMAC the computers I believe were never down that was then wanting me to believe they had everything inorder so i had no time to do anything. Funny how income and everyting was the same as in April but now I did not qualify.They foreclosed to cover up they mistakes they made and April and hoped I was not smart enough to follow up. They screwed with the wrong gal this time anyone wanting class action call me 281-507-7000

By: Vikki Hufnagel

Vikki Hufnagel — Wed, 06 Oct 2010 19:41:54 +0000

I have sent documents of fraud, forgery and complaints. Novastar owns Streetlinks and brokers wrote the approassials at 3-4 home value. I went to AGs FTC …etc . No one has done anything. I filed fraud with Saxon and they ignored it. The local TX press said we have no reporters so no investigation into Saxon.
I have asked AG Jerry Brown for 2 weeks to stop foreclosures in CA> . I have filed FTC FINRA and SEC complaints. I HAVE A NEWS STORY

By: Nat-AHA

Nat-AHA — Wed, 22 Sep 2010 14:13:28 +0000

This seems like really great news but will it really end the chaos? I know when I posted about this story some of our clients immediately called freaking out at the mere mention of a stay in foreclosures, but after that buzz wears off will anything be different?

By: Alina

Alina — Tue, 21 Sep 2010 16:33:02 +0000

Here’s a little factoid: GMAC and Ally are owned by Cerberus, which is a private equity firm (aka hedge fund). Cerberus also owned Aegis – another sub-prime lender.

Cerberus = multi-headed hound guarding the gates of hell.

hmmmmm…..interesting choice of name.

By: Kathy Utiss

Kathy Utiss — Tue, 21 Sep 2010 04:15:22 +0000

Notice only one of the states is a non-judicial foreclosure state. Hawaii. The rest are all judicial…Where’s the rest of the states with the same fraud being done in the courts everywhere?

By: ForeclosureHamlet

ForeclosureHamlet — Tue, 21 Sep 2010 03:53:23 +0000