By Glenn Dickson
Once you have missed a payment the lender is not your
friend. Missed payments equal more money
for the lender. The more the lender
gets, the happier he is. The best way
for the lender to get more money out of you is to increase your monthly payment
through accrued interest from late payments or missed payments, late fees and
penalties. It is a real money maker for
the lender. This has always been a fact
and all homeowners know it and accept it.
Where the problem currently lies is that the homeowner has been
led to believe by both government campaigns and lender lies that the lender is
actually going to help him – the homeowner, who has fallen behind. The lender is not going to help you – unless
there’s money to be made in it for him.
Enough money to make it worth his while – and that means he will
actually pretend to help you. In fact,
the lender will just string you along with false promises and pretenses for
months and months and months, finally you’ll end up in foreclosure and possibly
lose your home to public auction.
You, the homeowner have always been nothing more than a loan
number to the lending institutions.
Sadly, that’s all you’ll ever be.
They’re not particularly moved by the fact that your child has special
needs, or your mother needs extra care.
They don’t really care that your spouse lost their job, or that the home
has been in your family for six generations. In fact they have no interest in
any of the aspects of your life. The
equation is simple: Your money or your
home.
What matters is that
your loan number has fallen behind and now you are on the
very-profitable-for-the-lender road to foreclosure. Soon they will either get a large, normally
uncontested “chunk of change” from you-who-represents-your-loan-number, or
they’ll get your house – which secures your loan number.
Sure, they have seemingly courteous people on the phone
(well some of them do, others use call centers in India or hire brutes to
scare, manipulate and threaten you), all who say “stop making your payment and
we’ll get you a loan mod,” or “we can’t help you until you are three payments
behind,” or we have you in the system for a loan mod, now it will take only 4
months to get you a mod (of course it actually turns out to be 13 to 18 months
because they are always losing your paperwork).
Why does a process as simple as a loan mod take so
long? Because every missed payment is
more money for the lender. Did you know
that almost half the homeowners manage somehow to cure their default amount to
prevent foreclosure from starting? Sure,
but they wiped out every financial resource the homeowner had, and once again,
he can’t make his monthly payment!
The homeowner is back in default and on the road to
foreclosure in no time at all. Meanwhile
the lender made a nice sum and gets to go for round two. The only route left to save the home is
bankruptcy – most homeowners think—so they destroy the rest of their credit and
dignity in a last ditch effort to save their home. It bought them a bit of time, but it seems
the lender still gets the home in the end.
What started all this?
Rather, who started all this? It
was the lenders themselves. That’s
correct, they gave you loans designed to fail.
They’ve made billions of dollars at your expense. That’s why it is predatory lending and
predatory servicing. Since the day you
got your loan you have been preyed upon.
You have been told that this is “all your fault,” and the government has
“tried to comfort you” with promises of help through President Obama’s HAMP
program. That, of course we all know
now, is just a great big joke. Most
people only give money to the lender for months on end, while none of it goes
to their loan, then they get disapproved and foreclosed upon.
And it seems to so many homeowners that everybody is in on
their pain for the lender’s gain.
Attorney’s won’t take on the homeowner and fight for him when the lender
will pay him well to foreclose. Judges
don’t really want their courtrooms clogged up with foreclosure cases, so
warehouse them through. Lenders ‘warn”
homeowners not to get professional help, ‘cuz, well you know, “the lender will
help you for free”, yah, sure we all know that lie by now. And saddest of all: politicians are passing laws that prevent
homeowners from hiring professionals to help them get their loans modified!
But there is hope, and there is help. Rockingham Associates is there for the
homeowner. They conduct forensic loan
reviews which reveal all the violations in the loan the lender gave you. They conduct predatory servicing investigations,
which reveal all the predatory acts the servicer has committed against
you. They use those investigations as
the springboard to getting you successful negotiations. Lenders suddenly would rather modify your
loan, than deal with investigations.
Homeowners don’t have to stand alone, they don’t have to be
abused and preyed upon. They just need a
professional on their side and that would be the good people at Rockingham
Associates. They are busy rekindling the American
Dream. Their goal is to get you complete
financial recovery. Consider contacting
one of their representatives to begin to unravel your financial dilemmas.