Last October we knew that we were in for a hard winter. Work was scarce and not paying well. Some people would have my Husband complete a job and then refuse to pay or pay just enough to cover material cost. We knew we were in trouble. I called you (Chase Bank, the loan sharks for Fanny Mae) and let you know that we were going to be missing a payment. I asked if there was anything we could do, send a partial payment, lower our interest rate, you said "NO." December rolled around and it was either Christmas and food or house payment. We have two small kids so no Christmas wasn't an option. (Our kids get only one Christmas present from us a year and it's not a big one. We do fill their stockings however, so I suppose you could call us irresponsible.)
I called you in January and asked again if we could send a partial payment? You answered, "NO." I was informed that if we only sent a partial payment the house could still go up for Foreclosure. So I chose to save the partial payment that I had. I called you again for the next 3 months and every time I asked for help, I was told "NO."
Finally after we had missed our 5th payment a very nice Gentleman named Todd helped us out. He informed us that President Obama was "bailing" out home owners just as he had so graciously bailed out the Big Buisnesses and we may qualify for some Home Owners Assistance Plans. We started the arduous paper work phase. I filled out so many forms in the next month, hopeful that we would qualify for some kind of assistance. But we did not. Either we didn't make enough money, or we made too much money (in the last year) or our house wasn't worth enought, or whatever. For whatever reason we were told that we didn't qualify for ANY assistance.
I would like to add here that we had put the house up on the market that October, when we saw how difficult it was going to be. But with the economy so bad, what once was an asset for our family turned into a prison. What once would have been a boon for our bank account turned into a sucking hole. We were drowning and there was no life boat in sight.
My Husband managed to get some odd jobs over the winter and into the spring. They kept us eating and clothes on the boys. We managed to put some money into savings for the time when we could start making house payments again.
Then Finally we qualified for a Home Assistance Program. Finally. You lowered our payment $200. I called and said that we couldn't manage that payment for more than a few months. You informed me that we only had to pay it for 3 months, then you would re-do our trial and lower the payment even more.
After the 3 months was up, and our savings was GONE, you informed me that we hadn't sent in some paperwork that was needed to complete the next trial period. It's been 2 months and I have recieved about 4 letters telling the same thing. I send in paperwork after paperwork and keep getting a letter saying that you don't have the proper paperwork and will I please send in "A, B and C so we can help you save your home from forclosure." I have sent in the paperwork 4 times. I am starting to get concerned that you guys aren't very organized.
Really, I think that you are pulling my leg until you decide to put the house into foreclosure and then all that savings money that we paid you, well, I should have just flushed it down the toilet.
And our Esteemed President and all his "Bail Out Plans"... I have no nice words. Some say that it's only the bad stories that we hear and that those are blown out of porportion. Well, this is my bad story, you are hearing it, and it's not blown out of porportion.
My Husbands credit was Good and mine was Excellent before this happened. Now because of this it's been hard for my Husband to get a job. Because we have had some hard times, and there is no assistance for people like us, we struggle to get a job. This is all so very frustrating.
And there is no one to listen. Or care. It feels very much like we don't have a say in anything our Government is doing. They want to bail out the Big Boys (That's YOU Fanny Mae) and the American people stand up and say NO! and they go ahead and do it anyway. Then, low and behold, in the news we see those very same "poor executives" who couldn't buy toilet paper out sunning themselves on beaches, having lavish parties and still living in their huge mansions. And still raking in the big bucks. America the free my @$$. It's the little guy that is paying for all that. It's the little guy who always pays. It's the little guy who pays for the people on welfare, but then when they get into a bind there is no welfare for them. No help for them.
So we are sitting here in a house that is going to go into forecloser, still getting letters "Your Modification is at Risk - Urgent Response Needed!" You need
- Income Documentation
- Proof I occupy my home as primary residence
- Signed IRS Form 4506-T
- Signed Hardship Affidavit
Well we will no longer be living in our home. We are going were the work is. My Husband is making a career change and we are leaving our life and home to start fresh somewhere new. So you can have the house, the farm land. Good luck with it. And Thanks For Everything.