GMAC Homecomngs Financial / Predatory lenders which refuse to answer to 4 time demand
2615 E.7th Street
Long Beach-CA 90804
October 21, 2007
2711 N. Haskell Ave#900
Dallas TX 75203
Re:946 Olive Ave Long Beach CA 90813 LOAN#[protected] and related
To Whom It May Concern:
I am writing about the subject to request to lower the monthly payments of the two loans on the property, the last demand before the worst situation be coming soon.
1. The situation becomes worst at this recession time, where my small income cannot afford o pay your big mortgages – with two loans on the property,
2. Property taxes and insurance have been increased from $4000 to $10,000 on December 2007 payments,
3. Section 8 tenants will move out when the HUD terminates their contracts. Due to defaults, and non-section 8- tenants did not pay their rents in full due to their own financial difficulties.
We will walk away when time is coming, as our debt ratio is currently more than 74%
Our revenue has decreased drastically, while taxes and mortgages stay at the high levels of the easy time. THIS IS OUR LAST REQUEST, you will witness the recession by the coming months.
We ask you to lower the monthly payments, if you want an arrangement for the situation. And appreciate your kindest understannding.