Homeq Mortgage Servicing - Deutsche Bank National Trust Company Not willing to work with me, continue to increase mortgage interest rate Sacramento California
I sent the letter below to Homeq and no one responded, instead I received a letter of intent to file foreclosure and notification that my interest rate will be increase in March. My house is on the market and I have submitted document for short sale, again no one responded.
I am writing this letter to explain my unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home until it is sold, and I would really appreciate the opportunity to do that. I am requesting that you review my financial situation to see if I am qualifying for any workout options.
The main reason that caused me to be late is financial difficulties created by medical bills, specifically physical therapy from a recent surgery, too much debt, and the increase that was added on the mortgage because of the recent adjustable rate. Soon after being late, I realized that my income will not be nearly enough to pay the monthly bills.
As a result, I am now trying to avoid foreclosure on this property. It is now obvious that I will not be able to pay what is owed to Homeq or the other lenders. It is my full intention to pay what I owe, but at this time I have exhausted all of my income and resources so I am turning to you for help. I would appreciate if you can work with me to lower the delinquent amount owed on the payment so we can keep our home and also afford to make amends with your firm
Kay
Spring Hill, Florida
U.S.A.
1 Updates & Rebuttals
Julie
Guthrie,Oklahoma,
U.S.A.
Unfortunate
#2Consumer Suggestion
Tue, February 12, 2008
Unfortunately, you have done this to yourself. Read your mortgage documents. They don't have to work out anything with you, if they do work something out, it is a courtesy. They do not have to modify your loan. In fact, most mortgage documents prohibit just that. To "modify" your loan, you would in fact need to refinance your loan (which you are behind on, so I realize you cannot do a refinance). You admit you had no safety net (for your surgery, physical therapy), you have too much debt, etc. You have created this monster and are in no way being ripped off. It's sad circumstances, don't read any of this to mean I don't feel sympathy, but you have made some poor choices that are ultimately resulting in you losing your home.
A short sale is a work out option as well, and again, they do not have to let you do that.