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JBURT · 01-09-2009, 07:15 PM

AT FIRST GLANCE IN BOLD TYPE I COULD SEE MY NEW LOWER
PAYMENT WITH MY NEW INTREST RATE I THOUGHT TO MYSELF BRAVO

C.W. CAME TO TERMS WITH THE MESS
THAT THEY CREATED.

HOWEVER AFTER FURTHER REVIEW
IT WAS APPARENT THEY WERE UP TO THERE OLD TRICKS

THE SHORTED OR MODIFIED INTEREST RATE AS ADVERTISED WAS BEING ADDED TO THE TOTAL AMOUNT OWED TO THE LENDER C.W'S LOAN BALANCE.

BEWARE !!

THE MOD TERMS 4.85 STEPPED OVER 5 YEARS
GOING UP TO 8% FOR THE NEXT 15 YEARS AT INTEREST ONLY WAS GOING TO PUT ME IN WORST SHAPE. "WHAT HAPPENED TO THE LONG TERM SUSTAINABLE PLAN THATS THE ONE I AM LOOKING FOR!!!!!!!!

CURRENTLY I OWE $430 K ON A HOUSE THAT IS VALUED AT
$250 K

THIS TYPE OF NEGITIVE AMORITAZTION LOAN MOD DOES NOTHING BUT INCREASE MY LOAN PRINCIPAL BY ADDING THE AMOUNT OF UNPAID INTEREST TO MY LOAN BALANCE AND THEN IN 10 YEARS I COULD OWE DOUBLE
WHAT MY PRINCIPAL IS NOW.

BAD BAD BAD!!!!!!!

THIS DOES NOT MAKE SENSE TO SIGN AND ACCEPT SUCH A DOCUMENT WITH PROPERTY VALUES EXPECTED TO FLATLINE WITH NO REAL VALUE GAINS A DECADE AWAY

HOW DOES THIS LOAN MOD FIX MY BAD LOAN. IT IS A TEASER OFFER THAT WILL PUT ANYBODY THAT WOULD ACCEPT SUCH AN OFFER AS WHAT I RECEIVED IN DEEPER DEBT WITH THE RISK OF DEFAULT 5 YEARS FROM NOW.

HOW MANY OTHERS HAVE RECEIVED SUCH TERMS THRU THE A.G. RETENTION SETTLEMENT ???

01-09-2009, 07:15 PM	#6 (permalink)
JBURT Member Join Date: Oct 2008 Posts: 9 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	C.w. Retention plan recieved beware! AT FIRST GLANCE IN BOLD TYPE I COULD SEE MY NEW LOWER PAYMENT WITH MY NEW INTREST RATE I THOUGHT TO MYSELF BRAVO C.W. CAME TO TERMS WITH THE MESS THAT THEY CREATED. HOWEVER AFTER FURTHER REVIEW IT WAS APPARENT THEY WERE UP TO THERE OLD TRICKS THE SHORTED OR MODIFIED INTEREST RATE AS ADVERTISED WAS BEING ADDED TO THE TOTAL AMOUNT OWED TO THE LENDER C.W'S LOAN BALANCE. BEWARE !! THE MOD TERMS 4.85 STEPPED OVER 5 YEARS GOING UP TO 8% FOR THE NEXT 15 YEARS AT INTEREST ONLY WAS GOING TO PUT ME IN WORST SHAPE. "WHAT HAPPENED TO THE LONG TERM SUSTAINABLE PLAN THATS THE ONE I AM LOOKING FOR!!!!!!!! CURRENTLY I OWE $430 K ON A HOUSE THAT IS VALUED AT $250 K THIS TYPE OF NEGITIVE AMORITAZTION LOAN MOD DOES NOTHING BUT INCREASE MY LOAN PRINCIPAL BY ADDING THE AMOUNT OF UNPAID INTEREST TO MY LOAN BALANCE AND THEN IN 10 YEARS I COULD OWE DOUBLE WHAT MY PRINCIPAL IS NOW. BAD BAD BAD!!!!!!! THIS DOES NOT MAKE SENSE TO SIGN AND ACCEPT SUCH A DOCUMENT WITH PROPERTY VALUES EXPECTED TO FLATLINE WITH NO REAL VALUE GAINS A DECADE AWAY HOW DOES THIS LOAN MOD FIX MY BAD LOAN. IT IS A TEASER OFFER THAT WILL PUT ANYBODY THAT WOULD ACCEPT SUCH AN OFFER AS WHAT I RECEIVED IN DEEPER DEBT WITH THE RISK OF DEFAULT 5 YEARS FROM NOW. HOW MANY OTHERS HAVE RECEIVED SUCH TERMS THRU THE A.G. RETENTION SETTLEMENT ???