We are just one family out of hundreds suffering from the economy resulting in possible foreclosure of our home. I believe we might be one of those usual families who have decided to fight to keep our home with everything we have. I wanted to share our story with you in hopes you might be able to take action, report for the news, and or direct us to something that IS WORKING. Here is our story.
In 1998 we purchased our home. We were a newly married middle-aged couple and this was our first home together. From 1998-2009 we had no problems paying our mortgage.
Some time in 2007 we secured a loan with Countrywide, refinancing our property due to some mounting bills from a failed business and excessive medical bills due to a bad fall during a business trip. We were hoping to stave off bankruptcy. Because we were not entirely clear on the APR loan we secured, we had paid $25,000 in interest and increased our mortgage by about $24,000 within a year. Because the economy seemed to be getting worse and we wanted to get out of this scary loan –we refinanced again. Later on we found that Countrywide’s loans were addressed by Attorney General’s throughout the country and some relief was to be given to the mortgagee’s; however, We were turned down for any relief on that because we no longer were with countrywide.– here is a portion of that story reported …
SEATTLE, Feb. 11 -- The Washington state Attorney General issued the following news release:
There's no place like home. For families struggling to make their mortgage payments, as well hundreds who already lost their homes, Washington Attorney General Rob McKenna offered hope today: more than $1.8 million for local foreclosure prevention programs and cash for directly impacted consumers.
"The foreclosure prevention programs we're funding are lifelines for Washington homeowners," McKenna said. "Nationally, one in seven homeowners is already behind on their mortgage payments. By helping families now, we have a chance to slow rising default rates and help heal our …
In 2008 we got a new FHA loan through Homestead. This loan was immediately sold to GMAC. We made our payments to GMAC on time each month for over a year. Then in May of 2009 my husband (the largest income in our family) was laid off as a supervisor in the construction industry. From May 2009 to August 2010 my husband searched throughout the US, oversees and in Canada for work. During this time we were not able to make our house payment and many of our bills. Because the government seemed to be understanding the problem the economy was having we thought sure we would find help from some agency or through our lender. Here is a summary of what we have done to try to find the help:
Immediately asked for Modification Loan from GMAC, our lender
They responded with 2 options, one was a reduction of $4 in our payment; the next was the same payment for one month and increased payments thereafter!
We contacted the HUD office for their help
After submitting 2 more financial packages, we were able to get a forbearance agreement, since we were still unemployed, just one week before our home was to be sold
We contacted many counselors who after reviewing our case suggested we just move, give up (so much for the counselors out there)
We continued to look for work and build a business
Our forbearance agreement expired in August and in October we received a new Notice of Trustees Sale that our home would be sold 11/19/2010.
We filed another request for Modification with GMAC – they turned us down due to lack of income
2 weeks after receiving the rejection from GMAC; my husband secured a new job in Canada – we submitted another request for Modification with GMAC
We decided it was time to get an attorney involved and discussed with a local attorney
He stated that the Trustee had broken some RCW’s and wrote them approximately 3 letters and finally filed for a restraining order since no one knew anything about the letters or the people who had signed our trustee’s sale
The restraining order was granted by the court and stopped our sale for 11/19 and set a hearing for all parties to appear on 12/3/2010
A day before our 12/3 hearing, I found from research that our Washington State Attorney General, Rob McKenna had written a letter to 52 Trustee’s throughout the State of Washington, including one that we were working with asking them to stop the process of foreclosures! You can see all this on their site.
At the hearing on 12/3 the judge granted a further delay of the sale of our home which had been postponed to 12/17/2010; although this was good news for us, he also asked us to start making our payments and a $5000 bond. This action causes us even more hardship on top of what we are dealing with to payoff bills and get back on track.
The Trustee’s did not appear at the 12/3 hearing and still cannot be located in the State of Washington, it is required that they have a presence in the state by law
We contacted HUD again and were told GMAC was turning down our request again due to lack of income because now they wanted the full payment and all the arrears and we no longer qualified for anything else
We have contacted Making Homes Affordable – they referred us to counselors and the HUD office for the Hamp Program
We contacted Mary McBride’s office 206-220-5101 regarding a Bridge Loan. We were told the Bridge Loans are not funded yet and they are not taking applications. HUD awarded $56.3 Million to Help Washington state Homeowners facing foreclosure; news release 10/6/2010 NOT YET AVAILABLE
We contacted the NW Justice Project 360-734-8680; they referred me to the HAMP program
We contacted the Consumer Protection office of the State Attorney at 800-551-4636 on 11/30. I have received an email from that stating they would talk with our lender and HUD but cannot act as our attorney. I have sent all our information to the Assistant Attorney General, David Huey as of 12/8/2010.
I have been told by some of these offices; our only hope may be to file bankruptcy; I have an appointment for that purpose scheduled
We have also sought refinancing, but now owe more than our home is worth – GMAC has added on $41,000 to our original loan of $242,000. Reports now indicate our home value is $245,000.
I also have on my list to contact
Home Recovery Organization-National Mortgage Assistance Program
US Depart of Housing – Secretary Shawn Donavan
Foreclosure Prevention Agency
I have been told that foreclosure prevention is not necessarily getting your loan modified but getting it sold before they foreclose!
Although our loan was not higher than our home value at the time we suffered this hardship; it is now!
If you need further information please contact
Candace – Bela Pataky 1605 Brookwood Dr, Ferndale, Wa