Homecomings Nightmare

[Joel Fraser]

My husband lost his job last year and we fell behind on all our bills,however, we hired a counseling agency to negotiate on our behalf and they were partially successful as the lender asked us to pay a months mortgage as down payment inorder to modify our loan. In the meantime our home was removed from foreclosure whilst we were awaiting the loan modification package. Three months passed by and with periodic contact with the counseling agency we received another enquiry for the same information we had already submitted three months earlier. We gladly responded and we kept up our hope that all will be fine instead we received a foreclosure notice in the mail. We panicked initially not knowing what to do next then I discovered zinomortgage. We were left with no choice but to seek chapter 13 protection whilst we were trying to hire a new counseling agency to handle our negotiations. We found a good talker who convinced us to part company with our $2,000 for his fees. We had the banckruptcy dismissed without prejudice whilst negotiatons were ongoing we had hoped. However,we have just received another foreclosure notice for next week. I spoke with someone at homecomings and I was told that my loan was a fixed rate loan so they cannot do anything even though the rate is very high. I contated my title company and requested a copy of my note and upon perusing I realized that it was an adjustable rate with a start rate of 9.49 % and it is due for adjustment in october 2008.My husband was the primary earner and as I mentioned earler he has been unemployed for a while but he has now secured a new job that would pay him well and that would make our modified loan more affordable. However,in the meantime we are contemplating pursuing this matter further by seeking protection once again and immediately file a suit through a reputable attorney to help remedy the violations in our loan.I am a devotee to this resouceful website and thank you very much for giving the average joe a shot at the big guys. For the longest time they've been calling the shots but it seems that the pendulaum is swinging our way thanks to you.