Complaint Review: Fremont Investment And Loan - Fremont General

My husband and I purchased a home 7/2005. Because we did not have great credit, we did not think we could obtain a mortgage, but we had a large amount of money as a down payment. My husband made 8.00$ per hour and I was unemployed waiting on a disability claim to go through. Fremont Investment and Loan gave us a mortgage.
It is a 2 year ARM. About a year after signing the closing papers, our payments rose because of the homeowners insurance.

We started having a hard time making the payments and they became late.

After we caught up, we contacted them and explained to them our situation. They assured us they could help us to modify our loan. We were told we needed to speak to a loan rep who would take down our financial information.
She took down our information and told us there was nothing she could do for us, my husband didnt make enough money. She said we could either borrow the money, get more jobs, sell the house, or face foreclosure.

We did everything we could. We borrowed money, put the house on the market and prayed. Because I have a rare disease and two young children, working another job for my husband was very difficult. I often have hospital stays and surgeries and no one to watch my children.

In January 2007 I again contacted Fremont and asked them if they could again look at our financials. I explained to them the situation and again they said they couldnt help us. We were unable to make January's payments.
When we received our income tax at the end of January, we payed January and February and March. Towards the end of March we noticed cracking in and around our home. We contacted our homeowners insurance and they sent out and adjuster who then sent out an engineer.
They determined we had a sinkhole.

We contacted Fremont and told them about the sinkhole. They told us they would not authorize repair on the house, they wanted the mortgage to be paid in full and unless that happened, we were stuck. In April I contacted them again and explained the situation with the financials. Again they said they couldnt help us.
I begged and pleaded with them. Finally they said they would take down the financials again. At this time, my husband was now making $13 and hour and I was receiving disability money monthly.

I gave them the info and they requested 6 months of paycheck stubs, proof of disability, proof of utilities, and 2 years of bank statements. After 3 weeks, they called us and said the FDIC will no longer allow them to modify loans so again we could sell, foreclose, or borrow the money. They also said we didnt meet the income to debt ratio.

I explained again about the sinkhole and they refused to authorize work on the house.

We are currently in foreclosure. Because they will not endorse the check for the sinkhole repair, we cant even sell the house. In Florida, it is illegal to sell the house for full value with an unrepaired sinkhole. We can only sell for half the value and if we did, we would still be upside down on the mortgage.

The insurance company called them and they finally said they would authorize the repairs, but they would issue the month in 1/3's because they dont trust that we will make the repairs. They said we have to prove that we have made 50% of the repairs to the home at which then they will send an inspector out to see that we actually made these repairs.

I cannot hire the contractor to grout under my home for 5,000$ which is all Fremont will give us right away. I am stuck. We cant leave and we cant stay. We dont have enough to get us out of foreclosure and we dont have enough to give the contractor to repair the home.

I am desperate right now. If anyone has started a class action lawsuit, please contact me. I am drowning here.

Nicole
spring hill, Florida
U.S.A.