Mortgage Forum

Joel Fraser

Hello everyone:I am in a ARM with Nation Star. We got an 80/20 loan (almost 2 years ago) and I was told we can refi in a year. Well using the FHA program with Nation Star, I was told I can't refi into a FHA loan, because I have no equity. My home value dropped from $490,000 to $303000; homes stay on the market in my neck of woods for over 11+ months. I was pointed to the Hope NOW WEB site- Hope Now is not a good group either. They do not go to ball for you and you must contact the leader after speaking with a "loan counselor" at Hope Now.Image: http://www.zinomortgage.org/forum/../images/smilies/eek.gif Well, took the chance and called Nation Star - the loss mitigation department is actually the COLLECTIONS DEPARTMENT. They people at Nation Star' collection were the most rude and unprofessional people I have ever spoken too. I was even told to get ”a second job" and " cut your cable service" to make the new payment. i was so mad after the call I wrote to BBS, HUB, FTC and California's Department of consumer Affairs. I received these nice template letters from these government agencies - but no help. So, by chance I came across this WEB site and found Mr. Paiva's Law Office. I contacted them, explain my situation and pray to get some type of loan modification. I found that I might a victim o predatory loan practices and TILA, etc violations. As a veteran, I really want to have a small piece of the American dream. But these lenders as very clever and tricky and I guess I am sucker when it comes to these matters. This is a draining - emotionally and physically – experience for me and my family. The temptations to walk away are incredibly high. I’ll wait to see what Mr Paiva’s office discovers. **