Wow, where do I even begin. Residential Credit Solutions are liars, loan sharks and crooks. After 6 months of trying to get a loan modification for the predatory loan they bought and service, they did offer me a horrible modification which was higher than my original monthly payment that I could no longer afford. They even lied to me by telling me I was ineligible for HAMP, even though I did meet the eligibility criteria for HAMP part 2. You do not need to be eligible for HAMP part 1 to be eligible for HAMP part 2. I would have even accepted another bad loan if they would have at least offered to extend my terms. These mortgage companies are laughing at us. Some have accepted Federal TARP funds and I have yet to find even ONE that has used the TARP funds received for what it was actually given for: TO HELP HOMEOWNERS
Residential Credit Solutions, LLC of Fort Worth Texas bought my predatory mortgage from Citimortgage. They filed for foreclosure on my home in June making me ineligible for Maryland's Mediation Law that went into effect July 1, 2010. They have treated me rudely, disrespectfully, and I believe have fraudulently and illegally changed my note. In a letter mailed to me dated October 6, 2010 they state that I have "failed to make my Trial Modification payments on time". They know I have a clear cut case against them as proven in a Forensic Mortgage Audit where predatory lending is proved, as well as multiple Federal violations, so I believe they have fraudulently changed my note even though I never signed anything, never approved or authorized anything, and I refused, in writing, their predatory loan modification as well.
The kicker is this: No entity on the State or Federal level gives a flying sh*t. I have been ignored or simply told I can't be helped by every entity at the state and federal level that is supposed to protect the consumer. I would advise being extremely careful when voting for your elected officials this term as you might find yourself in a situation where you were laid off and had to take a job making less money and hope to get a loan modification to help make your payments more affordable. This does NOT exist. Loan modifications are by design created to bring your mortgage current by placing the past due amount back into the principal of your loan, and your payments will stay the same or be higher, unless you agree to a even worse modification where you will start off with a lower payment but every year for 5 years your payment goes up, and at that 5th year you WILL be paying a payment that is extremely higher than the original payment that got you behind in the first place. Your elected officials cannot or will not help you. Remember this when you hear all the grand standing during elections. The mortgage issues will not be touched, because they just do not care about you or your problems. These companies such as Residential Credit Solutions have a license, it seems, to basically rape you through this entire process and unless you actually have a whole lot of money to pay an attorney for a very labor intensive predatory lawsuit, NO one, and I mean no one will help you.
The great state of Maryland has a TWO YEAR STATUTE of LIMITATION on filing a predatory lending complaint with DLLR Office of Financial Examination. Unless you have a great attorney paid for on your side to do battle, you are out of luck. I live in a state where our electric bills were DOUBLED a few years back, the state government said sure bend over and take it like a man. I am tired of paying taxes to a state and federal government that do not care about protecting its citizens from corrupt big business.
