I wondered how that worked.
My own home was taken 2 years ago.
Did the HOPE...da da da, same story no go after alot of lost paperwork.
I only owed 216 thousand but by the time JP Morgan Chase got done, I owed 274 thousand. Nice kick back they got from the government there I'd say.
Yes my home did have at the very least another 50 thousand in equity.
What a bunch of rotten bastards.
The worst part of it is, it wasn't even theirs to do that with.
And "WE" the taxpayers got stuck with the extra kickback bill.
Colorado Peggy wrote:
.My husband and I tried to a remodification via a mortgage servicing company - they said we failed the net present value test. When I asked what it was, they said the investor who owned the load would come out ahead financially if we were to default. We have too much equity. With this much equity, if we were to default the servicing company and investor would milk enough fees to absorb the equity - in other words get it in their hands and not ours. I’m not for bigger government, but something has to be done to make owning a home once again a part of the American dream.
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