It was NEVER your HOUSE

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             RantApologies for the shouting capital letters in the title of this article, but I have grown weary and irritated reading all the commentary of  people who were foreclosed upon and forced to move out of a house that was not theirs to begin with! Your house is really owned by the bank or Quicken Loans. Your mortgage payment is not really the same as a rental payment, but sort of close to it. You get evicted if you do not pay your rent and you are not allowed to live in your house if you don’t make the monthly mortgage payments.

Many of the so called victims of home foreclosure were folks who were not financially prepared for the long term commitment of home ownership. I am closing with comments from financially irresponsible people who bit off more than they could chew. There is even a comment about a guy who mortgaged a home only with piece a paper that indicated he was to start his new job at a future date!

 

Bought a house in 2007 for $173,000. I didn’t have a job(lender derelict here for creating mortgage fora guy without a job) just a contract showing I would be employed in August. They lent me the money, my payment was 1700 a month, every year the payment went up(borrower not informed about ARM-Adjustable Rate Mortgages which are loans given to high risk borrowers), got behind, did a loan modification with the Mortgage company that acts like their are trying to help you. When it was all said and done I owed 210,000 on the house after paying 1700 or more for 5 years. They are all crooks and I hope that there is a class act lawsuit against these bullies that are crushing the American Dream(Yup you are dreaming if you think you can move into expensive home without secure job), we are suppose to be helping each other out, yea right.

 

I went through foreclosure in 2009(Translated: I did not have the money to make monthly payments on an expensive house, therefore it is the Banks fault). It took YEARS for the house to finally foreclose. I rented it out for a while, then let the folks stay there free until they found a place because I just didn’t know when the bank would take over. I sold everything out of the house through Craigslist. I was driven nuts by Wells Fargo for well over a year. They’d call daily to demand their payment. They agreed to modify the loan, then reneged(You mean after you reneged on your obligation to make monthly mortgage payments?). They agreed to a forbearance agreement. They charged me half the mortgage for 6 months. They implied if I could pay that, they would permanently modify the loan after six months. Nope. After six months, they demanded the other half of the mortgage times six. Banksters should be in jail(Perhaps debtor’s prison should still be around for people like you who blame the banks because you can NOT make your monthly home mortgage payments—Oh yeah did you notice how your credit score went in the toilet after your failure to make your payments?).

 

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