Mortgage Assistance Relief Services - Proposed Rulemaking, Rule #546727-00012

Submission Number:
546727-00012
Commenter:
karen matejcek
State:
MI
Initiative Name:
Mortgage Assistance Relief Services - Proposed Rulemaking, Rule

To whom it may concern Federal Trade Commission, It is not only organizations or companies failure to do loan modifications. My son applied to his bank Citi Bank for a loan modification. He had not missed any payment ever. After President Obama announced the Hamp program many like my son applied at their mortgage servicer for loan modifications. My son thought he was simply asking for a refinance to lower his rate. It has been a nightmare. First the bank told him not to make any payment until he was told, then they claimed he never sent the packet back. Finally he was approved for a trial modification for 3 months. Whereas the payment was auto deducted from his bank account. During the 3 month trial he came home to a woman at the door from Citi bank telling him his home was in foreclosure. Now he recieved a letter telling him he has been approved for a permanet modification but has recieved no instruction or new mortgage information. This problem is not only with scamming companies but within the Banks, loan servicers and hud counselors. Some of my friends lost their homes to forecloser because of messed up compilcated mishandled morgtage loan modifications by the mtg servicer. It almost seems as though they set you up so they can foreclose. Washington needs to look at what is going on very closely. Audit some of the applications. My son has every documentation from the start of his loan modification he even recorded some of the conversations when he called Citi bank asking them why his home was in foreclosure. Citi Bank told him not to worry their computers don't recognize the loan modification. His home is on line!! Oops its getting foreclosed because of a computer glitch? He will gladly provide all his information to any one in Washington. As well as many other Americans that have lost their homes because of the lack of direction and willingness of the morgage servicers to want to modify the mortgages. After the President of the US tells the American People you can get your Mortgage Loan modified if you fall under certain qualifications. Quite frankly it's been a nightmare for any one who has attempted to get a modification and they are ending up with a foreclosed home. Due to the fact they are told not to make payments then partial payments. Then declined and demanded to pay a huge amount to get the home out of forclosure status. It is very sad so many hard working americans have lost their beloved homes because of a program that was promised by Washington but never monitored or a process put in place to ensure their homes were not literly stolen from them because of paper work or red tape or plain negligence and greed on the part of the mortgage servicer. Who ever set this hamp program into place should be ashamed at the massacre it has been on americans lives and homes. I have read story after story just like my son's and my friends yet no one is listening. What about putting rules and regulations on the mortgage servicer. When do they get held accountable. They are STEALING AMERICAN'S HOMES AND NO ONE IS DOING ANYTHING ABOUT IT!!!!! We can give you proof all Washington needs to do is ask. Stop blaming the homeowner look at the documentation of some of these loan modifications. I have also seen class action after class action agianst many mortgage servicers which tells me something is happening that is against the law... WASHINGTON DO SOMETHING TO STOP THIS