When Lenny first came into our office in October 2012, he had been struggling to get mortgage relief from his bank to no avail, for several years. His mortgage problems began when he went through a costly divorce, causing him to fall $10,000 behind in his payments.
The world of securitized lending, as I call it, never ceases to amaze me. Increasingly, surprises seem to be found around every corner of the journey of a homeowner’s fight with the bank to save his or her home against foreclosure.
Joe and Jenny Robb came to see us in August 2012, after being sued for foreclosure on their $72,000 mortgage. They ran into problems in paying on the mortgage when Joe’s income dropped after he was forced to find a new job.
Stephanie was sued for foreclosure on her $47,000 mortgage after missing three payments in 2004. As generally is true with banks these days, Stephanie’s bank showed her no forgiveness when she fell behind.
Recently, we met with Brenda and heard a story we’ve heard all too often. Brenda had run into problems with her mortgage and was contacted by an out-of-state outfit which promised her for a few thousand dollars it could straighten things out and help her get mortgage relief.