Carol
UNion City,#2Consumer Suggestion
Wed, January 04, 2006
Kimberly, Read your article regarding Centex not giving you proper notice of their intention to foreclose on your property due to a late payment. As a victim of this company, I can assure you that this is one of their practices to intimidate and scare you. There are consumer protection laws available and your attorney I am sure can advise you of them. My opinion is that Centex (as usual) is proceeding on the belief that you are scared and they can "con" you into anything due to your financial situation which was probably created by them in one or more ways in the first place. My suggestion would be to ask your attorney to provide you with the Truth in Lending Laws, not to mention the Unfair Debt Collection Practices Acts that are available in your State. In the mean time, if you are in any sort of position to obtain financing elsewhere I would strongly suggest you do so. As long as you are connected to Centex they will continue to harass you in this manner. There are legitimate prime lenders out there that are not connected to companies like Centex, some who will consider your circumstances even at this time. It would be advantageous for you to do some research on your own as well regarding the Truth in Lending Laws and RESPA laws. Not all lenders are predators and use the practices that Centex is using on you. You need to know your rights as a consumer. Have you had your loan documents examined by an attorney who is familiar with real estate settlement procedures, lending laws, and consumer protection laws? I do not know the details of your situation, obviously, but my suggestion would be that you might want to start at that end to determine your consumer rights. You may also want to report Centex to the Federal Trade Commission for unfair practices not to mention the Department of Justice in your area for consumer protection reasons. If you don't stand up for yourself Centex will continue to walk all over you. ONe other suggestion would be that you have a mortgage accountant familiar with mortgage accounting procedures examine the payment history of your account. You can also request that Centex provide you with information by writing a Qualified Written Request Letter to them, outlining and requesting them to provide you with certain information regarding the accounting procedures they use relative to the account they have structured for you. You can find information and procedures for doing this at numerous Internet forums under RESPA laws. Since you have indicated that you have an attorney, I would suggest that you may want to mention some of this to him as he should be able to assist you in obtaining the information necessary to validate what gives Centex the right to treat you this way and to stampede toward a foreclosure without giving you proper notification of the same.