Steve [Not A Lawyer]
Bradenton,#2Consumer Suggestion
Tue, April 10, 2007
Lindsay, You said you were going to see an attorney. Did you? What happened? You should seek legal counsel to recover damages. You really should have been more agressive in dealing with this. You let months go by? Did you just figure out of sight out of mind, or what? Common sense would tell you that SOMEONE had to be paid, RIGHT? I have never seen a mortgage payment due date more than 45 days from date of closing. And, I too was in the mortgage business and have bought a few homes. I can tell you that your first payment due date and to whom payable is clearly identified at the closing table. Your mortgage contract clearly tells you who your lender is and your payment amount, and all contact information. And Federal law requires a written 30 day written notice in any change of a finance contract. AND, as previously suggested, you knew what the payment was and were ready to pay someone, RIGHT?? SO WHY did you not hang on to that money so you could pay? They gave you an opportunity to pay it current and you failed to do so. WHY? Even with the mistake and incompetence on the part of the bank, it was still YOUR responsibility to bring it current. You lost your home because YOU failed to have the agreed upon funds available to pay.
Lindsay
Russellville,#3Author of original report
Tue, April 10, 2007
On Friday Jan. 26, 2007 a local realtor came to our home to inform us that the house had been foreclosed and that we had 3 weeks to move (which would have been Feb. 16), and if we complied then they would give us $1,000 "cash for keys". Well, what choice did we have? We said ok. The realtor brought us the paperwork to sign saying that we would hand over the keys to the house. As I was reading through the paperwork, it stated not only that they expected the house to be spotless (cleaned, repainted, etc) and they expected that the oven/stove stay in the house (one that we purchased ourselves), but that we had to hand over the keys by February 10, 2007 (a full week less than we were originally told). We did get moved and we did get our $1,000 but soon after, I received a court summons that we were being sued by Wilshire for unlawful detainer of the home and they wanted double the equilavent of one month's rent (which they estimated at $1100.00) plus attorney's fees, court fees, etc! I'm like what? We moved BEFORE the given date and they even gave us a check and now they're trying to say we didn't move by the date. Nonsense! I went to court on the court date, with all the documentation showing we did move within the deadline given and that they paid us to move and the judge dismissed the case (FINALLY, SOMEONE ON MY SIDE)! I have found out now that they have put the house on the market for $69,900, their own appraisers when we refinanced with them only appraised the house at $50,000! I can't imagine anyone paying $19,000 over the appraisal amount. I'm thinking maybe we were misled in the actual amount our home was worth. Oh well, it's over and done with and I'm through with Wilshire Credit.
Lindsay
Russellville,#4Author of original report
Tue, April 10, 2007
Steve- We did have the money to pay the missed monthly payments but when I finally was able to contact Wilshire Credit, they wanted about $1,000 more than what the missed payments totaled up to be (interest and fees), which I did not have. I offered to pay them what I had and add the difference to my monthly payments but they refused any payment unless it was in full. And yes, they did want my house. As you can see from the complaints about Wilshire Credit on this site, they do seem to have some shady practices. Maybe everything they do is perfectly legal, but it's not ethical.
Steve
Corona,#5Consumer Suggestion
Mon, January 29, 2007
So Lindsay, let me see if I understand this correctly: You refinanced in June 2006. OK The lender(s) never notified you of who held your loan or where to send a payment. OK, but terrible customer service on all of the lenders involved, no argument here. We are going to assume that you had the best intentions to pay the loan as you promised when you signed the refinance papers back in June 2006. The question that remains in my mind, is that when you finally connected with Wilshire earlier this month, and they asked for the default balance, why you could not have paid them? You would have paid the July, August, September, October, November, and December payments anyway, right? What did you do with the money during this time that should have gone to the lender? You knew that somebody was going to want to get paid sometime, right? I hate to say it, but if you didn't save the money that was rightfully due the lender during this time, then what is your complaint? I have been in the mortgage business for almost 12 years now and there is one thing that I know for sure is that the lenders DO NOT want your home. Foreclosure is the last resort. If you would have paid Wilshire what was due them when they asked for it, they wouldn't have forclosed.
Steve
Corona,#6Consumer Suggestion
Mon, January 29, 2007
So Lindsay, let me see if I understand this correctly: You refinanced in June 2006. OK The lender(s) never notified you of who held your loan or where to send a payment. OK, but terrible customer service on all of the lenders involved, no argument here. We are going to assume that you had the best intentions to pay the loan as you promised when you signed the refinance papers back in June 2006. The question that remains in my mind, is that when you finally connected with Wilshire earlier this month, and they asked for the default balance, why you could not have paid them? You would have paid the July, August, September, October, November, and December payments anyway, right? What did you do with the money during this time that should have gone to the lender? You knew that somebody was going to want to get paid sometime, right? I hate to say it, but if you didn't save the money that was rightfully due the lender during this time, then what is your complaint? I have been in the mortgage business for almost 12 years now and there is one thing that I know for sure is that the lenders DO NOT want your home. Foreclosure is the last resort. If you would have paid Wilshire what was due them when they asked for it, they wouldn't have forclosed.
Steve
Corona,#7Consumer Suggestion
Mon, January 29, 2007
So Lindsay, let me see if I understand this correctly: You refinanced in June 2006. OK The lender(s) never notified you of who held your loan or where to send a payment. OK, but terrible customer service on all of the lenders involved, no argument here. We are going to assume that you had the best intentions to pay the loan as you promised when you signed the refinance papers back in June 2006. The question that remains in my mind, is that when you finally connected with Wilshire earlier this month, and they asked for the default balance, why you could not have paid them? You would have paid the July, August, September, October, November, and December payments anyway, right? What did you do with the money during this time that should have gone to the lender? You knew that somebody was going to want to get paid sometime, right? I hate to say it, but if you didn't save the money that was rightfully due the lender during this time, then what is your complaint? I have been in the mortgage business for almost 12 years now and there is one thing that I know for sure is that the lenders DO NOT want your home. Foreclosure is the last resort. If you would have paid Wilshire what was due them when they asked for it, they wouldn't have forclosed.
Lindsay
Russellville,#8Author of original report
Mon, January 29, 2007
Just an update to my earlier report. On Friday January 19 (after a week of unsuccessfully trying to contact Wilshire Credit Corp. to stop the foreclosure proceedings)I got a hold of a representative to tell them that we were in the process of filing bankruptcy. The rep. I spoke to (Kay) told me just to fax them a letter stating I was filing bankruptcy and they would stop the foreclosure proceedings (scheduled for Mon. Jan 22). The 22nd came and went, as well as the 23rd, 24th, and 25th...and we never heard a thing from anyone (I tried every day to contact Wilshire, again, unsuccessfully to find out what had been done with our loan). Friday the 26th a realitor came to my home and told us we had 3 weeks to move (and they would give us $1,000 for the keys). They apparently went ahead with the foreclosure and bought the loan so now Wilshire owns my home and is in a hurry to put it on the market. So I guess we'll be moving VERY soon...everything Wilshire told us has been a LIE. They have deceived me and basically stole my home from me.
Lindsay
Russellville,#9Author of original report
Mon, January 29, 2007
Just an update to my earlier report. On Friday January 19 (after a week of unsuccessfully trying to contact Wilshire Credit Corp. to stop the foreclosure proceedings)I got a hold of a representative to tell them that we were in the process of filing bankruptcy. The rep. I spoke to (Kay) told me just to fax them a letter stating I was filing bankruptcy and they would stop the foreclosure proceedings (scheduled for Mon. Jan 22). The 22nd came and went, as well as the 23rd, 24th, and 25th...and we never heard a thing from anyone (I tried every day to contact Wilshire, again, unsuccessfully to find out what had been done with our loan). Friday the 26th a realitor came to my home and told us we had 3 weeks to move (and they would give us $1,000 for the keys). They apparently went ahead with the foreclosure and bought the loan so now Wilshire owns my home and is in a hurry to put it on the market. So I guess we'll be moving VERY soon...everything Wilshire told us has been a LIE. They have deceived me and basically stole my home from me.
Lindsay
Russellville,#10Author of original report
Mon, January 29, 2007
Just an update to my earlier report. On Friday January 19 (after a week of unsuccessfully trying to contact Wilshire Credit Corp. to stop the foreclosure proceedings)I got a hold of a representative to tell them that we were in the process of filing bankruptcy. The rep. I spoke to (Kay) told me just to fax them a letter stating I was filing bankruptcy and they would stop the foreclosure proceedings (scheduled for Mon. Jan 22). The 22nd came and went, as well as the 23rd, 24th, and 25th...and we never heard a thing from anyone (I tried every day to contact Wilshire, again, unsuccessfully to find out what had been done with our loan). Friday the 26th a realitor came to my home and told us we had 3 weeks to move (and they would give us $1,000 for the keys). They apparently went ahead with the foreclosure and bought the loan so now Wilshire owns my home and is in a hurry to put it on the market. So I guess we'll be moving VERY soon...everything Wilshire told us has been a LIE. They have deceived me and basically stole my home from me.
Lindsay
Russellville,#11Author of original report
Mon, January 29, 2007
Just an update to my earlier report. On Friday January 19 (after a week of unsuccessfully trying to contact Wilshire Credit Corp. to stop the foreclosure proceedings)I got a hold of a representative to tell them that we were in the process of filing bankruptcy. The rep. I spoke to (Kay) told me just to fax them a letter stating I was filing bankruptcy and they would stop the foreclosure proceedings (scheduled for Mon. Jan 22). The 22nd came and went, as well as the 23rd, 24th, and 25th...and we never heard a thing from anyone (I tried every day to contact Wilshire, again, unsuccessfully to find out what had been done with our loan). Friday the 26th a realitor came to my home and told us we had 3 weeks to move (and they would give us $1,000 for the keys). They apparently went ahead with the foreclosure and bought the loan so now Wilshire owns my home and is in a hurry to put it on the market. So I guess we'll be moving VERY soon...everything Wilshire told us has been a LIE. They have deceived me and basically stole my home from me.