Home Eq Sucess II !!!!!!!!!!

[momof3boys]

This is a 2 part story where Mom gave up her home and then days later Home Eq called and gave he an offer she could not refuse. So she has decided not to walk away and save her family's home. This was a roller coaster ride for 4 months. - Moe

Shew...It's been a long 6 months....Many ups and downs along this roller coaster of a ride...Even though my story will not end up on the success thread, I feel as though personally, I have won...On Tuesday, my husband and I are going to sign our new lease on a beautiful home, in a beautiful neighborhood, with terms we can afford without fighting for them...I am relieved but at the same time sad...I know once we move out, things will get so much easier for me...I have not had the chance to speak with Mr.Becher again, and no one has contacted me from loss mitigation...

I give up! I surrender!

After reading so many peoples stories and all of the adivce given, I realized staying here would be throwing good money after bad...My fight for my house was for my memories not for what is in the best interest of my family...Memories that I created here....Memories of bringing my son home...Memories of owning the house that I always wanted...Memories of some of the best holidays I could have ever imagined...But, they are just that, memories...My adoptive mother told me, "Heather, Memories are in your heart, not your home"...She's right...I look around my house, and truthfully, it is not worth what I owe, and even if the market does correct itself, it never will be...I have a leaking basement filled with black mold, a 2 car garage that is falling down, a 25+ year old heating and cooling system, the list goes on...I owe almost $200,000.00...

I am tired of getting the run around, I am tired of telling my story to uncaring collection reps and loss mitigation reps, I am tired of being lied to, but most of all, I am tired of driving down my street, and pulling into my driveway crying...Crying because I lost the only chance I have at owning the american dream...But, again, things will get easier for me once this chapter of my life is closed...So, we move out of here the end of March...At that time, the realtor that owns the house we are renting is going to list my home and try for a short sale...It is a shot in the dark, but to me it is better than just walking away and doing nothing...

Moe, and everyone on here, you have been nothing short of AMAZING!!! Had I not found this site, I feel as though things would be unbearable for me...Until I found this site, I was lost...I actually had no idea that I was not alone until I came here...LoanSafe.Org has given me strength to fight, strength to examine my situation, but most importantly, strength to make the best decision for my family...Even though, like I said, I may not be on the "success thread", this is my personal successs...Moe, if it's okay with you, I would love to stick around and offer my opinions/advice to anyone who would need it...You have an amazing thing going on here Moe, and I certainly want to be apart of it...I believe in doing things for the greater good of man kind, and Moe, this is it!

I love your last statement......

I am so sorry it did not work out, but....you have a great attitude and are looking to the future, that is the first and greatest step that you have to make. Don't you know they will probably call you the day you have the moving van loaded and are outta there.....tough #&*% I would say.

You had better stick around......or else......

[momof3boys]

Hey Poppy,
Thanks so much! I definately will be around. I definately feel as though I won, even though I won't get to keep the house...Things should be very interesting when HomEq takes poesession....According to my appraisal, we have new 6 panel doors thru out, a brand new kitchen, brand new ceramic tile, brand new hardwood floors, etc....Funny thing is, NONE of that EVER existed, not now, not ever...Appraisal fraud??? I'll be laughing all the way to the new house....

Oh those pesky ceramic tiles just grew little paws and crept out the door...yes it is what I would call Appraiser Hyperbole, better known as MisRep....we are not allowed to use the F word in lending these days to severe you know. Yeah it is Fraud and the appraiser should loose his license. Oh maybe he was having and off day, he had his rose colored glasses on, forgot to take them off after walking through the threshold. Heck we had one in Kansas, sorry Kansas, where I was looking at the subject property and the number on the house was different than that of the subject property address, got my magnifying glass out and yep I was not blind yet. So sent a review appraiser out for a field review ----- oh my the subject property address was a vacant lot...go figure I declined the loan.

[ManicMangaManiac]

You know what the ULTIMATE revenge in your case (or any similar situation) would be?? :evil grin: Renting a monster 'dozer a la "Extreme Makeover: Home Edition" and tearing that sucker down to the ground so that the ^#@**%% lender has NOTHING, nada, zip, zilch, ZERO to sell!!! Just half kidding but it would be sweet, huh? I know doing such a deed would probably earn a trip to the slammer, but those scumbags are just begging to have their a$$es kicked by the very misdeeds they're doing to us homeowners. "You shall reap what you sow"--

I believe their day is coming!
Sally

[RefusetobeStressed]

Momof3boys,

Did you have a problem getting your new home and still having the other? When you say lease...are you renting or is it a lease with option to buy? I hope I am not getting to personal.

[momof3boys]

Refusetobestressed,
We are doing a 2 year lease with the option to buy at anytime during or at the end of our lease. Chances are in 2 years we will NOT be able to buy it, but she is willing to extend the lease another year after that. We had some trouble finding just a plain old rental with no option to buy, especially since I have 2 dogs that are non negotiable, but we have favorable terms with this house. We are giving her $7,000 down (which if we can't find a mortgage with favorable terms, we will get all of that back), and paying $2,000 per month. I believe that the best HomEq could do if they did modify for us would be a min of $2200 per month. We are having a neutral attorney review all of our lease docs prior to us signing them, just so I have nothing hidden like this mortgage. Sometimes that is the best way to go, I know for us it was. The more I talk about it, the more excited I am getting!

[leap4juls]

Mom of 3 Boys
(who I know will be happy to see their mom smile a lot.) I think it is admirable to know when it is time to move on. Your Mom is right! I have been feeling all those things myself, and I think I would be moving on if I could, I can't so I try not to think about it. You have really a lot to be proud of, and you should have only the best!

I am happy for you! and your family. You are very smart to get out before it makes you ill. Your memories will always be with you. If you have felt , as I feel, that your home is not a warm place anymore filled with good memories, but a cold place, reminding you each day the fight you have on your hands, the agitation, anxiety, sadness, anger, then you know that it will be better all around. Let go of the past and embrace your present and your new exciting future. You know, sometimes, people stare so hard and long at the closing door, they miss the one opening over their shoulder. There will be bright days ahead. I wish you all happiness and joy in your new home...
Juli

[6wolverines]

Mom.....I've been searching for what "it" is that has me so attached...and it's the memories. I keep saying, "We've put our hearts and souls into this house. We've done so much to make it our own. But, I love my kitchen....." But it really is NONE of that. It's the Christmases, Halloweens, birthdays, bringing home all my babies, making a big dinner to celebrate a new job, and all the good things that I will be able to take with me no matter where I live. My eyes are blurry because I'm sobbing as I write this. It feels like a relief to be able to say that. If my family is with me and we're all okay, then I'd live in a box under a bridge. I know this it the realizaion that will be knocking on my door soon....and I just have to come to grips with it. First Franklin is ignoring me as I reach out to them....so I do believe plan B will need to be implemented. I am not afraid or ashamed to stay here as long as we can and then leave when we must. I've done all I can.

Mom....thank you for putting as succinctly as you did....I can take the memories with me, no matter where I live.

Char

[mom23]

Hi from one mom 2 another-

Your story was so touching and like the other responses, I too, am holding on to sticks and stones verses memories that will move if I move...Thank you for bringing this into perspective.

Sounds like a wonderful start to another part of your life. A fresh start is always so motivating and gives new perspective on what once was stale - I could not imagine driving away from my home at the beginning of my ongoing fight with Chase and the 17 confirmed faxes, 2 certified letters and fedex signed and accepted along with a RESPA letter expired over 12 days past the "allotted time" and no one has recvd a thing - "incomplete file due to lack of response by homeowner" (yours truly) is how my file reads....but now imagining it doesn't seem so difficult as I know I have given all I have and if it comes the day I do it I will think of you and your reality check for all of us - its the memories - Home is Where your family is...
Thanks and happy decorating your new digs!

PS I LOVE your new signature line hahahahhahahaha

[racoon]

Mom,

My husband and I also made the same decision as you. I still come here every day and read the post. We were in a very similiar situation and I believe we won as well. My house is currently for sale listed at 125k less than we paid for it. It was just reported on the news that my zip code has a 47% forclosure rate. Yes, 47%! That neighborhood is going down fast!

I sit in my beautiful rental home and find myself smiling and happy..wondering....how can foreclosure result in me having a better house, better neighborhood for 1k less a month??? The bank lost not me. Had they worked with us on the good faith down we would still be in the house that is a money pit. When would I have recovered my loss? Probably in the same amount of time it will take to repair my credit!

You will find it will be still hard to walk away. It is very emotional. You have to stay strong for your boys. I have 2 myself. You will be happier once you are out. Without the contstant reminder you will find the stregnth to move on. I found a great song that sums up my experience, it is The Great Escape by a band named Boys like Girls. I am sure it wasnt written for losing a home but it sums my experience. I was so worried about what everyone would think. Im not to the point where I will tell people that dont know me well I fought so hard for 1 year. I could not take it anymore. Just like your family we made the decision and I can honestly tell you I Have not one regret about our decision. Here are some of the lyrics to that song. Sounds crazy but the song really helped me through this tough time.

Throw it away
Forget yesterday
We'll make the great escape
We won't hear a word they say
They don't know us anyway
Watch it burn
Let it die
Cause we are finally free
Tonight

And tonight will change our lives
It's so good to be by your side
But we'll cry
We won't give up the fight

[aimster]

I probably should not have read your post at work, because now I can't stop sobbing. I loved your story...I consider it a success story in and of itself.

I posted a thread last week that I had come to a new realization.

I am fighting, fighting hard...if I go down, I will go down swinging. But, the realization I came to is no matter what happens, losing our home will never make me less of a mother to my kids or less of a wife to my husband.

I too cry when I come home each day, wondering how much longer I'll be making the drive down that road. Our rate is scheduled to adjust next month. My husband and I refuse to pay MORE than the 8.99% we have been paying. That rate has been ridiculous for us for three years, and we will not pay a penny more than that. We are throwing our money away for nothing if we can't get out of this loan. It's only going to worse.

In order to keep up with our payments, my husband would have to work tons of overtime, I'd have to get a second job, we'd never see our kids, and we wouldn't have $5 leftover to even take them to McDonald's. Not the way I want to live.

So, I will continue to fight until they tell me I have been defeated. But I will not lose sight of what is important, and that is my family. You too have put your family first, and I commend you for that.

Thank you for sharing your story, and know that you are an inspiration.

[evel1999]

Yes these are success stories too. Sometimes things just work out for the best. We do not think so probably at the time, but when you look back and reflect you see you are in a better place and at peace again.

For some Loan Modification is good for their situation, for some forclosure is going to happen but it is not the end of the world.

I have been up and down the latter so many times during my life time.
Once I rented for 4 years after we were forced to sell our home because we could not afford our payments back in the 70's when interest was at 16%.
We started over and rented for 4 years. When we did buy again, rates were at 12% and our kids were teenages. The neighborhood was not a good place to raise teens and we had an FHA assumable loan so we sold.

Once we purchased a home from an investor who did Wrap Around Loans. This was in the 80's.
Talk about a mess. He sold us a home that had a first and second mortgage, none was in his name, then he transferred the 1st as it was an FHA assumable into our name, but because of the Wrap Around Mortgage he gave us, (it was set up at $500 a month for 30 years and wrapped around the 1st and 2nd that he paid the payments on these loans out of the $500 we paid him and the rest was his income). Sometimes he would not pay the 1st or 2nd, late charges and etc.
We finally threatend to get legal help and we were able to force him to give us some cash and take back the property.

Our credit was not the best in the 90's so we looked for a property we might could buy. We found Fleet Finance who had an investor buying up their REO property and getting a loan (inflated appraisal) with Fleet that was assumable. They had 5 year baloone notes. Homeowners filed Class Action Suite and ACORN let the fight with Fleet and won. We all got our loans refinance for 30 years with reduced principal.

As my house appreciated, I took out an Adjustable Rate Mortgage 2/28......
and now you know the rest of the story.

What I am trying to say, things happen in life. Some we help create, some just happen, but it is not the end of the world. We can recover from this.
There is always tomorrow, other houses out there, everyone's situation will be different. Success is a different story for each person.

[elpjohnson]

Wow!!! Mom.....I just don't know what to say. As I sit here typing I have tears rolling down my face, your story is phenomenal.

I really respect you for making the decision you have made and like the saying goes "home is where the heart is" and I truly believe that a home is just a dwelling until a family makes it their own. You can have that in your new place. Your new place will be a place where you can have memories as well and as long as your family is together it does not matter where you reside.

I am so proud of you! Your story is a success story because you and your family will get a happy ending.

Take care of yourself and your family....you all deserve the best! God bless you!

[momof3boys]

Thanks so much to EVERYONE for all of your support!!! It truly means the WORLD to me. I have taken this last week as a much needed mental health break. Now, everything is final. We signed all the papers on our new house, gave them our $7,000 certified check, and have a move in date of 3/21/08. It is all so final now. It has been emotional as hell, but I honestly think I have been to hell and back. My heaven is coming to me sooner than later. Still no one has contacted me from HomEq, and frankly if they do, I intend on asking them where they want me to send their keys. I have learned some very valuable lessons thru all of this, and I intend to let everyone know. The most important lesson I learned is this: There are still good people in the world, who look at you for who you are, rather than what you have or what your credit report says. There are still people in this world that care, and show you they care, even when you think all hope has been lost. Those people are right here on this message board. I still can't thank all of you enough for all of your guidance, opinions, and advice. I thank god everyday for directing me to this site.

Well, I am going to go catch up on all the posts that I have been missing, and then continue PACKING!!!! WOOOOOHOOOOOO!!!!!

Oh, and one other thing, thru all of this, I just wanted you all to know how close I have gotten with my adoptive mother. I feel we have a closeness that we have NEVER had before. Just when I thought that this would ruin relationships that I had with people, it indeed made them stronger. I am seeing now that even if this all ends in foreclosure, there has been A LOT of good come out of this....

[Andrew]

Im so glad you are looking at this in a positive way. And we are glad to be here to help you.

[Moe Bedard]

Mom,

I don't know how I missed this thread from before. I sincerely apologize. Sometimes I have 50 emails from the forum and I miss these threads because I am in a hurry to sort through them.

You have been a long time member, contributer and online friend.My heart is saddened yet it is happy for you. Happy that you discovered what was best for you and your family in the process and that was walking away and you know what, that is perfectly OK!

You have opened my eyes to this part of the foreclosure equation and that sometimes in the stress and heart ache, success and a new happiness can be found. It's all not bad and in fact good can come out of it.

I would love that you stick around here and offer help as you wish. This is your place and it will only help others who have to make the hard choices you have made.

This is being moved to the success section!

[momof3boys]

Moe,

No problem at all! I would much rather you pay attention to those that need answers rather than someone who has already found an answer. I do intend to offer what I can around here, as I have grown attached to all of you and your triumphs. I hope that people that are struggling to find the answers can come here and look at things from both ends of the spectrum. What you can get if you fight, what you can get if you give up, and what you can do if in the end, no matter what, they won't modify your loan. I have never looked at myself as someone who gave up, I just look at myself as someone who couldn't get a loan modification. 6 almost 7 long months into this, and I still don't have an answer. I have done everything that I can, from the QWR, hardship letters, numerous hardship letters, numerous calls to government agencies, 995-hope, you name it, I did it. If HomEq hasn't done anything yet, I honestly feel they aren't going to. But thats okay, cause every dog has its day, and man, they can have a BALL trying to sell this house. Countrywide just reduced the foreclosure on my street down to 120k (mind you it is across the street from me), and I owe 190k +. I didn't create this mess, I didn't finance luxuries, all I did was try and make a home repair, thats it. Then, PRIOR to my rate adjustment, I begged for time and a solution. I got neither. Believe me, this wasn't an easy decision to make, and at times, when I look at the walls around me, I feel as though I am going to crumble. Then, I think to myself, that even if I did get a modification, I would be in this situation again in the future. I don't forsee my home EVER being worth what I owe, ever. So, 10 years from now when my husband wants to retire, we won't be able to sell unless we come to the table with money, then what would we do? This is the lesser of 2 evils. Now, I just have to get out of here so I can start over. Thanks again Moe for the wonderful job you have done and continue to do.

[Moe Bedard]

Your awesome Mom and I'm really glad you'll stick around. We need you and hope you get more involved. What a trooper and an example of great character!

[momof3boys]

Yup, you read that correctly!!!!! WE GOT A MODIFICATION!!!!!!!!!! HomEq called us today with an offer we COULDN'T refuse!!!!!!!!! Our initial starter rate was 9.95% going up next month....Well, they called tonight and gave us 8% fixed for 5 years!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!! WOW!!!!!!!!! They immediately faxed us over the paperwork, and everything seems legit!!!!!!!!!!!!!!! Don't get me wrong we were excited about the rental, but when this offer was presented, we melted. I feel like all that I was fighting for worked out for me, and my hard work paid off. We were in arrears (including our negative escrow) about $19,000, and all they want is $3,000!!!! I know that we may be upside down now, but we have resorted to the fact that we may be here for another 20 years, and I am sure we will have equity by then. I am still in shock!!!!!!! So, Moe, please delete my thread and add another home saved to the list!!!! Anyone with HomEq, DON'T GIVE UP!!!! Just when you feel you are fighting a battle you are not going to win, keep on trying! That is what I did. Anyone needing advice, numbers, contacts, ANYTHING that has to do with HomEq, PLEASE message me or post here, I will do WHATEVER I can so that you too can post the same story!

[Moe Bedard]

That is such awesome news............there are alot of people on here not to keen on Homeq, so you better tell them how it is done
Congratulations!!!!!!!!!
You and your family fought hard and you deserve it, I am so happy for you this is wonderful news you must be floating on air right now!!!!!



P.S. you might want to change your signature nowif you know what I mean

[Moe Bedard]

LOL.........you already did that.....

HomeQ came through.......GREAT!!!!!!

Everybody, do not lose hope and faith!!!!!

And you Mom...STAND UP AND GIVE YOURSELF A BIG HAND OF APPLAUSE, YOU EARNED IT.

Told you they would do it while you were boxing the place

Oh and I think we should leave the post to show how things can come around and change for the better, not to loose hope and to show that even at the worst of times....THERE ARE WINNERS

[Moe Bedard]

Way to go Mom!!!!!!!

Gee whiz Mom, up and down, up and down are we on a teeter totter haha Great job and good news. HOME #25!!! Yippee.............

[elpjohnson]

Mom, that is WONDERFUL news!!!! Congratulations, your hard work and perseverance has paid off. I am grinning from ear to ear for you and your family. I just want you to know that your story has really touched my heart and when I read this I was so excited for you. Amazing! God bless you and your family, Mom....you guys really deserved this modification!