North Smithfield, Rhode Island
Not resolved
2 comments

I'd like to join the class action suit against Wilshire Credit. They sent me an increased mortgage amount bill saying I didn't escrow enough for my property taxes and wanted over $6000 dollars.

I called and explained I didn't have that kind of money and they said I needed to pay and extra $1300+ a month. I explained the house was for sale and asked them to wait but they refused. I couldn't pay the mortgage and they foreclosed.

I even tried to do a deed in lieu which they said they would but then changed they're mind after dragging their feet for over 6 months.

Monetary Loss: $330.

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Anonymous
Walnut Hill, Florida, United States #36195

Well, we fell behind and caught up, and have been making our payments ever since then. I can say that the major problem is not to fall behind in the first place.

Don't think for a minute that I am some guy for whom things fall into place. We had to make double payments for 6 months and eat discounted outdated food for that time when we could have been living it up in a luxury apartment complex for what we were paying on our mortgage.The only lucky part of our situation is that we own a condo no bank wants anyway. It still comes down to the fact that no comprehensive bailout plan has come to light for the average consumer that forces any mortgage company to work with you. It is still at ANY company's discretion whether to offer you any program.

Bush just tried to make himself look good by offering something that has always been available anyway if the company agreed to it.

Many of us average American dreamers were irresistably enticed into loans we could not afford which lead us to fall into these vicious cycles of debt. If that 700 billion dollars to bail out financial giants and the additional funds from the stimulus plan had been used instead for programs to ensure people in financial trouble either stay in their homes and refinance with affordable payments or walk away owing nothing, we would not have the need for the latest big company bailouts. It would have stopped this problem in its tracks. It would be the businesses that feed on foreclosures that suffer instead.

In relation to this article, I just have to say the situation is not isolated to one company like Wilshire.

It crosses over to many companies brought on by corruption, poorly trained staff who don't know what they are saying so they say anything that sounds smart, and ignorance. It's just going to come around again to the same place if nothing is done about it.

Anonymous
#35824

Wilshire is a HORRIBLE company, which will go down soon just like there owners Merril Lynch.

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