Comments on: Crisis Leftovers: Fannie, Freddie Force More Mortgage Buybacks http://ecreditdaily.com/2010/03/crisis-leftovers-fannie-freddie-force-mortgage-buybacks/ Tue, 24 Aug 2010 20:00:08 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: sylvia fragoso http://ecreditdaily.com/2010/03/crisis-leftovers-fannie-freddie-force-mortgage-buybacks/comment-page-1/#comment-1227 sylvia fragoso Mon, 08 Mar 2010 04:10:06 +0000 http://ecreditdaily.com/?p=2159#comment-1227 My Comment is that this is the biggest scam ever. The goverment should do something about this terrible situation that is happening to humanity. People are being thrown in the street, running in different direction trying to move here and there because the banks want to have their way. Not only people are loosing their homes,but the animals as well. They're also loosing their lives because of all this. This planet is being destroy because of all the nonsense and selfishness. No love, No respect for life. My Comment is that this is the biggest scam ever. The goverment should do something about this terrible situation that is happening to humanity. People are being thrown in the street, running in different direction trying to move here and there because the banks want to have their way. Not only people are loosing their homes,but the animals as well. They’re also loosing their lives because of all this. This planet is being destroy because of all the nonsense and selfishness. No love, No respect for life.

]]> By: Doug http://ecreditdaily.com/2010/03/crisis-leftovers-fannie-freddie-force-mortgage-buybacks/comment-page-1/#comment-1222 Doug Sun, 07 Mar 2010 21:21:26 +0000 http://ecreditdaily.com/?p=2159#comment-1222 SUMMARY OF MY PLIGHT After Countrywide modified our loan reducing the rate to 4% December 2008 with payments to begin March 2009, we were relieved that we would be able to handle the next 5 years of mortgage payments. We made payments on time. May 2009, we began to receive our mortgage statement from Bank of America as the new service provider. June 12, 2009, we received notice our loan would be transferred to Residential Credit Solutions (RCS). After making payments for 6 months on time at the new rate, RCS returned our payment on 8/10/2009 and shortly after sent a “Notice Of Intent To Take Legal Action” dated 8/24/2009. We sought legal help from US Loan Auditors, but they were not taking quick enough action to stop the foreclosure process and we therefore terminated their service. In an effort to save our home, we are now attempting to work through RCS for another loan modification, as we feel we have no other alternative. We were never late, our payments were at the agreed upon rate, yet the Countrywide agreement was ignored. Now our credit is ruined, and our house is still foreclosing! I feel that I have been taken advantage of by RCS that the original contract of 4% was ignored and my credit ruined falsely. SUMMARY OF MY PLIGHT
After Countrywide modified our loan reducing the rate to 4% December 2008 with payments to begin March 2009, we were relieved that we would be able to handle the next 5 years of mortgage payments. We made payments on time. May 2009, we began to receive our mortgage statement from Bank of America as the new service provider.

June 12, 2009, we received notice our loan would be transferred to Residential Credit Solutions (RCS). After making payments for 6 months on time at the new rate, RCS returned our payment on 8/10/2009 and shortly after sent a “Notice Of Intent To Take Legal Action” dated 8/24/2009.

We sought legal help from US Loan Auditors, but they were not taking quick enough action to stop the foreclosure process and we therefore terminated their service. In an effort to save our home, we are now attempting to work through RCS for another loan modification, as we feel we have no other alternative.

We were never late, our payments were at the agreed upon rate, yet the Countrywide agreement was ignored. Now our credit is ruined, and our house is still foreclosing! I feel that I have been taken advantage of by RCS that the original contract of 4% was ignored and my credit ruined falsely.

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