Chase Bank Loan Modification Department:
I am terribly upset to find that you have not chosen to modify my home loan. It has been my understanding that my exact circumstance would fit into the mold of a home modification loan. My husband took a job in the great state of New Mexico, forcing me to leave behind my beautiful home in Arizona. As you are WELL aware, home prices in Arizona have dropped significantly over the last few years. Foreclosures are up 5% from the last month alone! My home is valued $100,000 dollars LOWER than the price I paid back in 2006. YES, I said 2006! The year home values soared. The same year I saved for a LARGE down payment that I will never see again. Yep, I am talking about the $50,000 dollars you took from me.
This significant drop has left me unable to sell my home. Now, I have been more than faithful to the repayment of my mortgage. Lets face it, I HAVE NEVER MISSED A PAYMENT. Even if this means I go without. As a result I have paid for a small apartment in New Mexico and my house payment at the SAME time. The cost, a mere $2400 a MONTH!
I am only asking for a small 1% drop to my mortgage rate. This would allow, the renter I have secured for the next year, to cover my mortgage with very little out of pocket from myself.
To say that I am not worthy to help because I do not live at the residence is completely unfair. Isn't this the reason President Obama designed the "Help for Homeowners" plan. I didn't read anywhere that it was only for home owners who were in foreclosure or only for homeowners that live in the homes. What would be the point? You say you didn't need the bail out money, that you made wise investments... THEN WHY DID YOU TAKE IT?? GREED!!!!!!!
GREED
GREED
GREED
It was not to help a home owner like myself, who would sell if that meant I could repay the loan I borrowed. BUT I CAN'T. So, for this purpose I am asking you to reconsider your greedy rule. Why not actually help home owners and modify their loans so that they can repay the debt that promised to pay. Why do I have to ruin my credit and be in foreclosure for you to even LOOK at my loan?
OH, BECAUSE OF GREED!!!!!
Enjoy your million dollar day, as I struggle to continue to survive while providing the tax money you so easily use for your Bentley, Porsche, and mansion.
Signed,
VERY UPSET
Julie Barnes, homeowner.
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5 comments:
SERIOUSLY! SO LAME!!!!
You have to be a lazy ace poor person who completely disregards responsibility to get that deal.
I mean, the whole home crisis is totally unreal, but to slam you in the face for being responsible while they accept irresponsibility with open arms everyday is a little crazy.
Good luck!
Good for you, Julie!!!!! I agree with you completely!!! This world is so backwards sometimes, I can't stand it!!! We bought our home in Oct. 2005 (also the same time that home prices were through the roof!), so I feel your pain!! And, no it's not fair to help those who haven't paid their house payment and have gone into foreclosure. How about help those that are already doing everything they can to help themselves??!! That would make the most sense to me! Rewarding bad behavior will not make people choose good behavior...
I'm really sorry, cousin. That really sucks!
Yikes--I am sorry to hear about that.
Ironically I was just listening to NPR and they were talking about this issue. That the loan modifications are not happening because the banks are suddenly more conservative. It is crazy.
Will this foreclosure crisis ever end???
Debt Help AZ
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