14 comments

Anyone who has Wilshire as your mortgage servicer. BEWARE if they want you to sign a forebearance agreement as they are now starting to do to people. If you sign, they own you. Have your attorney read these papers. Papers are full of wording where you are still "screwed" and if you sign these papers they state that you withdraw any any and all claims, lawsuits, either past, ongoing, or future Wilshire Credit, predecessors, successors, affiliates, officers, directors, employees, subsidiaries and parent companies and agree not to sue. This is done in order for your temporary modification to go through that will allow you top stay in your home for a few months only. This is only a short term modification. After a couple of months another agreement is to be worked out. These papers also will not allow you to protest any and/or all of the legal fees associated with Wilshire and these fees were initiated by Wilshire!! These papers are full of BS. This contains information that was stated was agreed upon by both parties BUT since I did not agree to this.

Please anyone who enters into an agreement with Wilshire do not sign these papers unless your attorney looks at these papers. You will end up losing your home regardless. Also, in my opinion the amount that will have been paid to Wilshire (for the few months and the down payment) comes to about what the 2008 taxes are on our home. I think they are now working for modifications due to the upcoming tax time so they will have enough money to pay taxes on your home without Merrill Lynch having to take from their own investors pockets.

I hope Merrill Lynch, and Wilshire Credit employees can sleep at night knowing how many people they have put out into the streets and how many homeless senior citizens ther are now due to their

lies and wrongdoings. None of us homeowners wanted this nor did we ask for it nor did we sign for this. What happened what greedy companies like Merrill Lynch and Wilshire Credit and Capital Investments and Deutsche Bank saw a way to fill their pockets until their "cup runneth over" of which they have. They have taken people's dreams, hopes, livlihood (not only adults but also children) and have made it into "horror stories" just big corporation get rich quick schemes. Someday a good investigative journalist and will come along and expose these corporations/copmpanies for what they really are and what they have really done and how rich these companies and corporations have gotten off the hard working average guy and the senior citizens. Just follow the papertrail and it leads you to people and places that I would have never thought or dreamed possible.

PLEASE DO NOT SIGN ANY PAPERS INITIATED BY WILSHIRE CREDIT OR THEIR ATTORNEY'S OR MERRILL LYNCH OR THEIR ATTORNEYS OR DEUTSCHE BANK OR THEIR ATTORNEYS.

Please take them to your attorney.

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Anonymous
#240869

When Wilshire foreclosed on my house I paid on my mortgate bi-weekly, then one day rec'd papers and then a couple of days later rec'd my original money orders from prior two months they sent me two back and kept two, could never get in touch with anyone that knew anything what *** people work for this company each time I ask where the rest of my two payments were they never could answer my questions, they tried to raise my payment from $800.00 a month to $1200.00 a month, they refused to wor with me then gave a check for $100.00 to help with my moving expenses after they bought my house back at the foreclossure sale every foreclosure that I see of theirs in my state the attorneys they use are never in the town you live in, they are outright cons. but what comes around goes around.

Anonymous
#76772

Ready to give up here! received my papers today, I know I qualified for the modification my interest rate is 12% I lost my husband to cancer and have put in two complete modification packages with no answer, the hope hotline was no help, the hud person had no luck either, i'm going to be homeless with my two youngest sons who already had to watch their father die of cancer.

They should be ashamed of themselves and Mr Obahma lets this happen! I had such hope that he would do something about the crooks that are getting away with this.

Anonymous
Wimauma, Florida, United States #57172

Keep in mind that Wilshire is a loan servicer and not a mortgage company. They have no standing in court to foreclose. If Merril Lynch has given them standing on their behalf then both Merrill Lynch and Wilshire should be sued for all this disgracefull business practices.

Anonymous
#55330

WILSHIRE PROMISED ME A LOAN MOD DROPPING MY RATE FROM 11.25 % TO 7.75 % TOLD TO CALL BACK IN 10 DAYS DENIED. yHEY ARE HEARTLESS MONEY GRUBBING ***

Anonymous
#36157

I never thought that when I bought my house it would wind up going into foreclosure. But lo and behold thats exactly what happend.

Wilshire bought my loan from the original lender and it has been nothing but chaos ever since. they raised my payments by over $200.00 a month and when my husband was in the hospital and missed work we missed a payment. trying to get caught back up but they dont want to work with me. I agreed to a forebearance but the day i signed the papers nad mailed them along with a payment to the lawyers office I got a call from Wilshire asking me what my intentions were on the house and i explained to her that I signed the papers and mailed the lawyer a payment.

She proceeded to tell me that my house would still be in foreclosure untill i made two more payments. The next payment being due just 2 and a half weeks later. I dont know where they think that people just have that kind of money but I dont. they are not the only bills i have.

Granted I know that I owe the money but they are not willing to work with you in the least.

Now instead of sending them another payment im just going to fins another place to live before they get another dime from me. Im just afraid they will come in and change the locks like ive been reading that they have done some other people.

Anonymous
#35217

Rickie - you should leave your number so that we can contact Wilshire. When they do not accept payments..

What are we to do? When you send in financial statements to try and work on things they take 3-4 months!

Meanwhile you can not get a hold of no one if you have any questions. Their website is useless (wont take payments) You are defensive because you know that you are working for a company with no spine.

Anonymous
#30080

They are not following foreclosure law at all ! They are foreclosing on my neighbor (which by the way was a preditory loan from what I read) and Wishire has not even provided him with the place time and date of the foreclosure sale required by law and the home is due to sell this week.

I HOPE ALL OF YOU REALIZE (AND IF YOU DO PASS IT ON) THAT BUSH ALLOWED ALL THIS TO HAPPEN TO YOU (PREDITORY LOANS AND FORECLOSURES) AS A WAY TO CONTINUE TO CONSOLIDATE THE WEALTH IN THE UPPER 1 %. HE AND MCCAIN DO NOT CARE ABOUT YOU AT ALL.

Anonymous
Chalkwell, England, United Kingdom #26622

Wow, I feel at home here. My loan was sold to them, got behind b/c of medical.

When able to pay again was told that a work-out deal was in the process but would take 6-8 weeks but not to worry b/c they don't want to foreclose. (I was also told I shouldn't pay any of my credit card bills during that time or WIlshire wouldn't work with me b/c I wasn't giving them all I could!) Then after loads of paperwork sent to them, I get a one paragraph letter saying I was denied. So, now I begin the short sale process only b/c it is better choice between foreclosure and short sale. My credit is shot already so I am not worried about that.

I have to try and get caught up on credit card bills now and I am so mad!

I am dreading the short sale process with them, fortunately, the investor is going to be the one doing all the contact work. Ugh!

Anonymous
Preston, Ontario, Canada #25806

I am getting really scared reading this. My mortgage was transfered to Wilshire.

First I get a refund check next thing they raise my mortgage $200. I have been out of work since March, just had back surgery, have missed a couple of payments I sent in all the paper work and nothing.

I have called and called and get no straight answer. What are we all going to do if this is not an actual mortgage company

Anonymous
Montrose, Missouri, United States #23982

Imagine that a rep from Wilshire with a bad attitude. You know your working for *** artisits and by actng like a *** it proves it. Why are you so bitter?

Anonymous
Cokeville, Wyoming, United States #19067

I agree with everyone about wilshire I had never worked with a morgage company like this. your right dont return calls cant talk to anyone.

We have done a short sale on our home in oct. took six months of ***.

Anonymous
Havertown, Pennsylvania, United States #18283

wilshire - how come nobody over there ever picks up the phone in loss mitigation? why is there only one phone number and no extensions?

why do short-sale requests go ignored? why do modification requests get returned on sundays with a quick one paragraph answer? is wilshire credit imploding? i have a borrower who has not made a payment in over a year now and wants to sell it.

he did not take the modification since he is negative $100K here in san diego ca on a condo. the mod papers reverting the subprime loan back to the initial rate were fine - but when he balked at owing more than the home is worth and wanted a short sale - nothing happened.

i have left several messages with voicemail personally and have two faxes confirmed as being sent - and two months later still nothing. come on wilshire call your clients back in san diego, ca

Anonymous
Moseley, Virginia, United States #16201

This is in answer to Rickie regarding Wilshire Credit latest ploy. You do not have my papers from Wilshire.

I do. I have backup for what I say. Wilshire has already violated many FDCPA regs. I am not bitter.

I am fighting back!! There is a difference. I will not allow Wilshire to "put the screws" to me again. I have fact-based on paper what I am stating.

None of the people working there knows what the other is doing. I am warning everyone else who you Wilshire is trying to do this to.

That is my right!! If you can prove different of what I state and have on paper then go for it!!

All of you are working in the dark!!

Anonymous
Arhus, Arhus, Denmark #15807

I work for Wilshire Credit Corporation, and I can asure you that what you saying on here is FALSE!! Yes we have you sing a "contract" for the Loan Work Out/Modification of your loan.

We do this when you are 3-4+ months behind and impossible for you to catch up in a timely manner and your headed to foreclouser. All that we do is goverened by the FDCPA (Fair Debt Collections Practises Act)...look into it. The FDCPA monitors our calls all the time and any false representation in our comapny results in massive fees for the company & any WCC employee who has given the false information. If your having issues with WCC right now it's probably because your bitter for having to be "forced" into a situation to save yourself from foreclouser.

What a pitty. But Good Luck!

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