Thanks for telling me about this blog Rominy! I am...

2009-03-15T17:55:00.000-07:00

Thanks for telling me about this blog Rominy! I am always looking for more places to tell my mortgage nightmare.

There's a major misconception about the current foreclosure crisis that I'd like to clear up.

Not all of us in foreclosure status or soon to be took out loans for bigger houses or
"champagne wishes and caviar dreams." Some of us simply got caught in a downward spiral of unfortunate circumstances that began long before anyone uttered the word "bailout".

I was working part-time and looking for additional income. In February 2008, I learned from the 5pm news that my employer was closing for good after 112 years of being in business. My hours had been declining for the past 2 years and now I HAD to find employment soon in order to pay living expenses. I continued to work less and less hours while searching for work.

I had several medical problems and a substantial increase in property taxes, and soon I had to call my mortgage company, Citi Residential, for advice. I was told they could do nothing to help me until I had "defaulted 2 months on my payments." I asked them to repeat their advice because I couldn't believe I HAD to NOT pay them in order to get any assistance. So I took their advice.

Two months later when I called to get some kind of loan renegotiation I was told I had to pay the $3,000 in arears before they could do anything for me. By that time I was making even less money and had several medical issues and big bills I was dealing with and there was no way I could pay anything.

I had no choice, but to file for banruptcy. This is the first time in my entire adult life I could not pay my own living expenses and the first time my credit score was below 750.

I was devasted to say the least.I am a responsible person and no one made me take out the loan, but I did not deserve to be swindled and lied to by my own mortgage company that I had been paying as agreed for 4 years. My home was a 900 Sq ft ranch with no luxuries. It was by no means a "McMansion". It was a home I used to be able to afford.

I am pissed, to say the least, at Citi residential and its entire conglomerate of of greed. I was even more pissed when the govt decided to bail them out while they were buying corporate jets and throwing people out of their homes. No one more than I hopes they are held accountable for every single penny of the bailout and have to report everything to the govt, right down to the toilet paper they use. I hope it's the biggest pain in the ass for them to get anything from any taxpayer ever again.

They have to one of the most unethical companies I have ever witnessed, other than the rest of the ones with their handout for taxpayer money. I find it ironic that they're looking for help after what they did to the many of us responsible home owners who simply wanted to do the right thing and pay their bills.

What I really hoped was that I could have been on the receiving end of their phone call for help. That way I could have told them to "default on their loans for 2 months and call back later."

Thanks for listening and please don't hesitate to offer your mortgage nightmares.

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Thanks for telling me about this blog Rominy! I am...