My friend, Pamela Britton, who writes for HQ's NASCAR series as well as historical romances, has a story to tell. She recently lost her home when she'd thought she'd only signed papers to modify her then current home mortgage payments. She'd sent out a newsletter telling her story and had requested publicly on her website for it to be passed on so that other people wouldn't fall for the scam by banks and mortgage lenders.
For the whole story in Pam Britton's words, here is the link:
Here is part of Pam's newsletter:
We signed our paperwork which included an unexpected $5000 "pay down" on what was in arrears. We paid our monthly mortgage payments thereafter. We were trying to come up with the $5000--paid as much as we could towards it every month--but it was a struggle to pay it down. Thankfully, our bank seemed willing to work with us. It was tight, but somehow God gave us the ability to stay in our home.
Until the bank took it away from us.
Unbeknown to us, we had been denied the new loan. WE NEVER RECEIVED ANY OFFICIAL NOTIFICATION. NO NOTICES ON OUR DOOR. NO LETTERS IN THE MAIL. They simply disqualified us for the loan and auctioned off our house. We learned this after receiving a Three Day Notice of Eviction.
You might have heard about the investigations that are being done right now concerning these home loan modification/foreclosure scams, but for some, it's too late since their homes have now been foreclosed on and sold from under them WITHOUT THEIR KNOWLEDGE. These are hard times we lived in and predators abound, so before you signed anything, please, please, please check and doublecheck and triplecheck before doing so. Laws and grants by our government are wonderful, idealistic programs, but there will always be those who would use them to take advantage of the less fortunate, taking money from both the government and from people who are supposed to be helped out by these grants.
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