Loan modification,collection,foreclosure

Posted on Posted in Mortgage

review

Convoluted story that I am more than willing to fill in the blanks at a later date, but suffice it to say that I am a super responsible person who is trying to be pro-active in addressing a financial predicament that I am currently in, and the lending company ( s ) who are supposed to be ” handling ” this property ( Seterus & XXXX ) are simply impossible to reach, and have crucially impeded any/all of my attempts at a ” responsible ” resolution.
I owen a home in XXXX Michigan. I did embarked on this investment with another person, however it is only my name that appears on the loan. This was the biggest ” risk ” and mistake, that I have ever done in my life. My responsibility was the down payment, and his was the monthly mortgage payments. When the economy crashed, things began to be tight. Unbeknownst to me, he allowed the payments to be late on numerous occasions. My personal credit prior to this situation was impeccable. About XXXX months ago, he simply stopped paying the mortgage without telling me. This put the house into a foreclosure process. Unable to redeem this property myself, I have been trying every means possible to enlist Seterus ( the loan servicing company for XXXX ), to help guide me in pro-active steps to lessen the blow of this situation and to show responsible effort to remedy this financial catastrophe to the best of my ability. Reaching I am certain that I can either reach the XXXX or have lunch with President Obama quicker than I can get anyone from Seterus to even answer their phone numbers. When/if anyone has EVER answered, they were disinterested, unhelpful telemarketers who were not empowered to assist me in anyway. I then enlisted XXXX different mortgage advisors as well as a local realtor ( and gave them written XXXX party permission to be able to professionally advocate on my behalf ) with either Seterus and/or XXXX, and both companys refuse to ” own the loan ”. Hence stopping us in our tracks. I did all of the required paperwork for a deed in lieu option and was denied. I enlisted the realtor to try and sell it, and she had a potential buyer ( short sale/cash offer ), that neither Seterus nor XXXX would even agree to dialogue about, as they both contend that they are now ” owners of this loan ”, despite the fact that I have mail, regarding this loan from BOTH establishments!!! How maddening is that? I have been trying everything in my power to show ” effort ” to be pro-active in some sort of responsible way, since I have gotten myself into this predicament and now with the redemption period ending on the XXXX of XXXX ( just weeks away ), no XXXX on my team can reach anyone of consequence at Seterus/XXXX that is willing to help. This home could have already been sold, renovated and inhabited by a new family had either company been cooperative! But instead, it will be vacant and most likely vandalized by the end of this month! How sad is that? No wonder our housing/mortgage market is still in such disarray! Everyone I voice concern to, about this has a consistent, apathetic reply. ” That is what is happening everywhere XXXX! Just move out and let it rot! ” That is not how I operate, yet I have no other choice, but to vacate the premise, when I am supposed to, and pray that this somehow all works out down the road. This picture could have looked VERY different if Seterus and/or XXXX would have been professional enough to take our numerous attempts to remedy. I am speechless and scared about the ramifications at this point. I am trying to rebuild, with this daunting situation looming overhead!!! Your input would be MOST appreciated. I am at a loss, but feel they must be accountable for the state of things, due to their lack of availability, accessibility and help!
Most Sincerely, XXXX

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