Complaint Review: WILSHIRE CREDIT - PORTLAND Oregon

Hi again, You say you talked to someone from wilshire today to advise you of the interest rate going up again. Did you ever send in all the information so we can look at doing a modification for you? I respectfully disagree with you when you say we are thieves...if we did not care we would not warn you about your adjustable rate changing. I know this can be a very stressful thing but we are able to help if you provide us with 4 things... 1. hardship letter. Tell us what is causing the hardship. Such as adjustable rate change, lost job, medical issues, etc. 2. completed financial statement which can be downloaded at our website here is how you get the form 1. go to www.wcc.ml.com 2. click on borrowers on the left side 3. arrow down to faqs 4. chose option financial hardship 5. on the right hand side on bottom there is a prompt for download financial form 3. last two months of bank statements, pay stubs...if you are self employed include a profit and loss statement instead. mail the information to 14523 sw millikan way suite 200 Beaverton Or 97005 I recomend sending the information certified mail after all you are sending confidential information. Make sure you put attention Modification Dept. Good luck and let me know if I can help further.

I have attempted to file a hardship form with them and they refuse to lower my rate/payment to an affordable. I am told...you should have read the paperwork before you signed it. I received a letter stating they were going to adjust again in 60 days, again I tried to contact them, got the run around and nothing. Today March 19th I received a "courtesy" call from Wilshire, reminding me that my rate will adjust again and will go up another $300/mo that is a $750 increase in 5 months!! If this is an adjustable mortgage..since the rates have dropped, why is my payment going up?? They are heartless thieves.

First I want to say I am very sorry you are going through a hard time. I am not just saying that. If you are facing a really hard time with the adjustable rate changing here is what you need to do. if you have already sent in your hardship letter, financial statement, last two months of pay stubs and bank statements and have faxed or mailed in the information call our modification department directly at 888 841-8805 you may be transferred to the representative and leave a message with your loan number and best contact number for you. If you do not hear back from the representative on your file within 48 hours call back and ask for the representatives manager. I know it can be very disheartening when you are not getting results. Please keep in mind however that we are helping thousands of borrowers just like yourself and we want to help you. In most cases with a modification we take the interest rate and lower it to the amount it was before the adjustment, then the interest rate is frozen for up to five years. You are also given up to 3 extensions on the modification. When you are in the modification period you are also able to refinance. A lot of our customers are facing the same thing you are where they have great credit but the loan to value is not good for refinancing. Imagine being upside down in your own home!! Sad, but with the mortgage crisis it is a reality. I hope this helps, you can respond back and I will try to help the best that I can. I am doing this on my own time because I care and want to help. Good Luck hope to hear from you.