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why am I getting hounded to refinance my house?

 
Anonymous Coward
User ID: 785725
United States
01/21/2010 02:20 PM
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why am I getting hounded to refinance my house?
I dont get it.I wont refi unless its of good for me.Tacking on 6000 grand to my loan is not good for me.And I do not think the rates gonna go up anytime soon
Dead Man Walking
User ID: 795057
United States
01/21/2010 02:22 PM
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Re: why am I getting hounded to refinance my house?
Read the fine print. The goverment will own a percentage of it.
Anonymous Coward
User ID: 36898
United States
01/21/2010 02:22 PM
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Re: why am I getting hounded to refinance my house?
They want to see if you're a sucker.
Anonymous Coward
User ID: 855814
United States
01/21/2010 02:22 PM
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Re: why am I getting hounded to refinance my house?
c'mon, dropping values, worsening economy, unemployment...these bankers need your money NOW.

Be patriot and go refi.

What's 6k to you?

Do it for the bankers. You owe it to them.
Anonymous Coward (OP)
User ID: 785725
United States
01/21/2010 02:24 PM
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Re: why am I getting hounded to refinance my house?
c'mon, dropping values, worsening economy, unemployment...these bankers need your money NOW.

Be patriot and go refi.

What's 6k to you?

Do it for the bankers. You owe it to them.
 Quoting: Anonymous Coward 855814

Nope lol,just gonna keep on doing what I do,Buying ammo,getting fire wood to fuck the electric company and other nefarious anti establishment shit bwhahha
Anonymous Coward (OP)
User ID: 785725
United States
01/21/2010 02:24 PM
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Re: why am I getting hounded to refinance my house?
c'mon, dropping values, worsening economy, unemployment...these bankers need your money NOW.

Be patriot and go refi.

What's 6k to you?

Do it for the bankers. You owe it to them.
 Quoting: Anonymous Coward 855814

Nope lol,just gonna keep on doing what I do,Buying ammo,getting fire wood to fuck the electric company and other nefarious anti establishment shit bwhahha
Anonymous Coward
User ID: 866942
United States
01/21/2010 02:28 PM
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Re: why am I getting hounded to refinance my house?
Hi OP...we're being pressured to modify our mortgage...yes, we are 2 months behind on the payments, but paying a little extra each month to try to get caught up. Thing is, every time we get close to catching up, something else destructive would come along last year. I was ever so happy to see 2009 out the door!

With our loan servicer, those who have modified have been foreclosed on...there are numerous reports and complaints on all sorts of consumer sites about this. So why are they pressuring us to modify our mortgage? I'm thinking so they can quickly foreclose on us!

This "modification" allows them to really screw the home owner. During the "trial period", payments are lowered, yet the servicer doesn't apply the payments, charges late fees, doesn't pay the insurance and then charges the home owner for THEIR insurance, which is astronomical. There's much, much more to it...I've read through hundreds of the tens of thousands of complaints online.

I won't modify...I'll keep trying to catch us up, and pray that nothing happens this year as we do.

I dont know why you're being pressured to refinance...heck, most people can't refinance anymore, thanks to the corrupt banks and credit card companies.
Anonymous Coward
User ID: 870777
United States
01/21/2010 02:36 PM
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Re: why am I getting hounded to refinance my house?
Hi OP...we're being pressured to modify our mortgage...yes, we are 2 months behind on the payments, but paying a little extra each month to try to get caught up. Thing is, every time we get close to catching up, something else destructive would come along last year. I was ever so happy to see 2009 out the door!

With our loan servicer, those who have modified have been foreclosed on...there are numerous reports and complaints on all sorts of consumer sites about this. So why are they pressuring us to modify our mortgage? I'm thinking so they can quickly foreclose on us!

This "modification" allows them to really screw the home owner. During the "trial period", payments are lowered, yet the servicer doesn't apply the payments, charges late fees, doesn't pay the insurance and then charges the home owner for THEIR insurance, which is astronomical. There's much, much more to it...I've read through hundreds of the tens of thousands of complaints online.

I won't modify...I'll keep trying to catch us up, and pray that nothing happens this year as we do.

I dont know why you're being pressured to refinance...heck, most people can't refinance anymore, thanks to the corrupt banks and credit card companies.
 Quoting: Anonymous Coward 866942


In 2008, I got behind on one payment. I thought I could "catch up" by adding a portion of the late payment to each of the following payments until I'd repaid the entire missing payment.

DIDN'T HAPPEN THAT WAY!!!

My mortgage servicer kept my "extra" payments and applied them to late fees. I still ended up having to come up with one full payment before the end of the year.

My suggestion to you (and take this with a grain of salt) is to just make a regular payment and put your extra amount aside until you save up enough to make up the ENTIRE missing payment, and then send that in with a letter or a mortgage payment stub that has ALL pertinent information (account number, etc.) and an explanation that it is a full payment and must be applied accordingly. They'll probably still charge you the late fees and they'll tack that onto the loan OR they'll require it of you later, but at least you're not behind.

As for modification? My personal belief is that they've sold off so many of the mortgages to investment bankers that they don't know WHO owns the paper anymore and they want to start over.

Frankly, I'm not going to modify...even though I get a request or three every week. I figure as long as I'm making my regular payments now, I've got the upper hand because I already know who has the original paperwork...and it isn't the current servicer!!! LOL!
Anonymous Coward
User ID: 852424
United States
01/21/2010 02:38 PM
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Re: why am I getting hounded to refinance my house?
Hi OP...we're being pressured to modify our mortgage...yes, we are 2 months behind on the payments, but paying a little extra each month to try to get caught up. Thing is, every time we get close to catching up, something else destructive would come along last year. I was ever so happy to see 2009 out the door!

With our loan servicer, those who have modified have been foreclosed on...there are numerous reports and complaints on all sorts of consumer sites about this. So why are they pressuring us to modify our mortgage? I'm thinking so they can quickly foreclose on us!

This "modification" allows them to really screw the home owner. During the "trial period", payments are lowered, yet the servicer doesn't apply the payments, charges late fees, doesn't pay the insurance and then charges the home owner for THEIR insurance, which is astronomical. There's much, much more to it...I've read through hundreds of the tens of thousands of complaints online.

I won't modify...I'll keep trying to catch us up, and pray that nothing happens this year as we do.

I dont know why you're being pressured to refinance...heck, most people can't refinance anymore, thanks to the corrupt banks and credit card companies.
 Quoting: Anonymous Coward 866942


I understand that they put terms into the new loan that screws over the homeowner.

Careful to refi, because they are basically getting you to sign a new contract that they like.
Anonymous Coward (OP)
User ID: 785725
United States
01/21/2010 02:46 PM
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Re: why am I getting hounded to refinance my house?
yea.I know somethings up.I know someone who works for Fannie mae.She said is sounds fishy.and all this hounding for one miserable percentage point.Fuck that
Anonymous Coward
User ID: 870795
United States
01/21/2010 02:48 PM
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Re: why am I getting hounded to refinance my house?
Just opinion here, but I think they're all having heart attacks because NOBODY has the ORIGINAL paperwork anymore... they DO NOT have, and cannot produce, the original signatures.

I suspect, the real issue is that they cannot win in court when you ask for the original document with the original signature.
Though most people don't know they have the right to demand this, many now do, and are using the knowledge to their advantage.

They gotta get you to sign something... anything! even a promise to pay something/anything at some undisclosed future date. School loans in default are doing it, credit cards are doing it and looks like this 'refinance' scheme is all about the signature too.

Don't know much about this stuff, but this is what it all looks like to me.

.
Anonymous Coward
User ID: 866942
United States
01/27/2010 01:26 PM
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Re: why am I getting hounded to refinance my house?
Hi OP...we're being pressured to modify our mortgage...yes, we are 2 months behind on the payments, but paying a little extra each month to try to get caught up. Thing is, every time we get close to catching up, something else destructive would come along last year. I was ever so happy to see 2009 out the door!

With our loan servicer, those who have modified have been foreclosed on...there are numerous reports and complaints on all sorts of consumer sites about this. So why are they pressuring us to modify our mortgage? I'm thinking so they can quickly foreclose on us!

This "modification" allows them to really screw the home owner. During the "trial period", payments are lowered, yet the servicer doesn't apply the payments, charges late fees, doesn't pay the insurance and then charges the home owner for THEIR insurance, which is astronomical. There's much, much more to it...I've read through hundreds of the tens of thousands of complaints online.

I won't modify...I'll keep trying to catch us up, and pray that nothing happens this year as we do.

I dont know why you're being pressured to refinance...heck, most people can't refinance anymore, thanks to the corrupt banks and credit card companies.


In 2008, I got behind on one payment. I thought I could "catch up" by adding a portion of the late payment to each of the following payments until I'd repaid the entire missing payment.

DIDN'T HAPPEN THAT WAY!!!

My mortgage servicer kept my "extra" payments and applied them to late fees. I still ended up having to come up with one full payment before the end of the year.

My suggestion to you (and take this with a grain of salt) is to just make a regular payment and put your extra amount aside until you save up enough to make up the ENTIRE missing payment, and then send that in with a letter or a mortgage payment stub that has ALL pertinent information (account number, etc.) and an explanation that it is a full payment and must be applied accordingly. They'll probably still charge you the late fees and they'll tack that onto the loan OR they'll require it of you later, but at least you're not behind.

As for modification? My personal belief is that they've sold off so many of the mortgages to investment bankers that they don't know WHO owns the paper anymore and they want to start over.

Frankly, I'm not going to modify...even though I get a request or three every week. I figure as long as I'm making my regular payments now, I've got the upper hand because I already know who has the original paperwork...and it isn't the current servicer!!! LOL!
 Quoting: Anonymous Coward 870777


Yeah, that was my suspicion as well, and with the pressure they are applying for us to modify, SOMETHING is wrong! I refuse to modify, as it gives them an open opportunity to seize our home by then holding a binding paper that covers their arse when they don't hold the original note.

I haven't asked for the original note, and won't, unless and until they start procedures to foreclose. And at the same time, I'm not going to make it easy for them either. We are paying, and I will take your advise about how to "catch up" our mortgage...sound and logical, thanks.
bobnightman

User ID: 868959
United States
01/27/2010 01:27 PM
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Re: why am I getting hounded to refinance my house?
Prolly a ARM
12/21/12
Anonymous Coward
User ID: 778753
United States
01/27/2010 01:27 PM
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Re: why am I getting hounded to refinance my house?
Ask them for a copy of your original note. Maybe they can't even prove they own your house so they are trying to get something new in writing. ;)
Anonymous Coward
User ID: 875394
United States
01/27/2010 01:28 PM
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Re: why am I getting hounded to refinance my house?
I dont get it.I wont refi unless its of good for me.Tacking on 6000 grand to my loan is not good for me.And I do not think the rates gonna go up anytime soon
 Quoting: Anonymous Coward 785725

They lost the note when they chopped it and bundled it into derivatives.They need a new note.
Anonymous Coward
User ID: 508527
United States
01/27/2010 01:42 PM
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Re: why am I getting hounded to refinance my house?
no shit, why does it cost $7000 plus to have you own mortage lender refinance you. they already have everything then need, all then have to do is reorder another appraisal verify fico and income. greedy fuckers charge $7000 for this???
Anonymous Coward
User ID: 759743
United States
01/27/2010 01:50 PM
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Re: why am I getting hounded to refinance my house?
[hysterical extreme right or left wingerism]

BECAUSE THE [RIGHT OR LEFT] IN THEIR QUEST TO DESTROY AMERICA WANT ALL YOUR MONEY SO THEY WANT YOU TO REFI

FEEL STUPID FOR VOTING THE [RIGHT OR LEFT] CANDIDATE NOW?

WELL DO YOU FEEL STOOOOOOOOOOOOPIDDDDDDDDDDDDDD

[/hysterical extreme right or left wingerism]

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