I won the fight with the mortgage creeps

I know i mentioned once that we were in a battle with our mortgage company concerning our ARM and the misrepresentation of the loan.

As you may recall, we consciously decided to stop paying on the mortgage until they heard us. WE were emotionally ready to give the house up rather than pay 16 percent interest.

Its a long story and not all people that don’t pay their mortgage are dirt broke and do “bad” things like not paying their bills. According to McCain, we should not be rewarded for being dirt bags. The mortgage company in his eyes do no wrong. He got called out on that statement and quickly changed his tune. I really liked the guy until he said all that, now I am second guessing myself. They tried to take us for everything and told us lie after lie and we decided to just put an end to it. This was the only way to get their attention. They actually scheduled the house to be sold on the courthouse steps, when we didn’t respond the way the wanted, they changed their tune. To make a very long story short, we stood our ground and our payment has been lowered almost 1000.00 per month.

It was a very stressful thing, we haven’t paid our mortgage since november due to all this. we really were addamant about them modifying the loan. we sent letter after letter and they always said they didn’t get them. It was a huge mess. If anyone would liek to talk to me about details we went through to win this, just let me know. It was not fun, but it wa s worthwhile. We won! One big victory for our family. We were scheduled to be sold tomorrow at the courthouse. They let us know just a week ago that they would like to work it out.

btw, our mortgage predators are Option One Mortgage corp…subsidiary of H and R Block…. truly dirt bags…

wow, congratulations!


  • did you have to take them to court?
  • did you send your letters to them thru certified mail?
  • did you have to pay a lump sum for the back mortgage payments you didn’t pay?

Hi, No court, but did use an attorney with a pretty powerful letter about how upside down we are in the home ( including a long list of things needing repair and upgraded) and that if they wanted to sell at couthouse, they would loose a great deal more than if we stayed and they modified. We also mentioned we were getting ready to file a bankruptcy and might be able to avoid it if they were to modify. Homes in my area have depriciated 23 % (thats twenty three not 2 point 3) in the past 1.5 years.

yes, letters sent with return receipt and siggy required. they still denied getting them.

they have included the missed payments in the balance of the loan. WE have not agreed to their terms yet, but, truthfully, probably will 6% is what they are offering adjustable to 7.5 in 3 years. WE are still working on those two things. I would really like 1 of 2 things…..either….6 % fixed, or a reduction in our balance. But in all honesty, i will take what they have offered if they will not negotiate any further. ITs a pretty decent deal and if we keep our noses clean, we can upgrade and sell this one and buy a new house before that time comes.

sounds like they are making a decent deal, but they are still getting more than they deserve, but they know, we would not turn this down. But think about it…. go to court house steps? or modify,.. they did the smart thing because houses are not bringing NEAR the value at auction and this one is only valued at about 75,000.00. If we accept this deal, the mortgaged amount is 111,000.00.

Hope this helps! I am thrilled to not have to move. WE have 20 years worth of “stuff” and 3 kids , tons of pets, it would have been a miracle to find someone to rent to us.