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Wilshire Credit Corporation / Beware

1 United States Review updated:
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Anyone who has Wilshire as your mortgage servicer. BEWARE if they want you to sign a forbearance agreement as they are now starting to do to people. If you sign, they own you. Have your attorney read these papers. Papers are full of wording where you are still "screwed" and if you sign these papers they state that you withdraw any and all claims, lawsuits, either past, ongoing, or future Wilshire Credit, predecessors, successors, affiliates, officers, directors, employees, subsidiaries and parent companies and agree not to sue. This is done in order for your temporary modification to go through that will allow you top stay in your home for a few months only. This is only a short term modification. After a couple of months another agreement is to be worked out. These papers also will not allow you to protest any and/or all of the legal fees associated with Wilshire and these fees were initiated by Wilshire!! These papers are full of BS. This contains information that was stated was agreed upon by both parties BUT since I did not agree to this.

Please anyone who enters into an agreement with Wilshire do not sign these papers unless your attorney looks at these papers. You will end up losing your home regardless. Also, in my opinion the amount that will have been paid to Wilshire (for the few months and the down payment) comes to about what the 2008 taxes are on our home. I think they are now working for modifications due to the upcoming tax time so they will have enough money to pay taxes on your home without Merrill Lynch having to take from their own investors pockets.

I hope Merrill Lynch, and Wilshire Credit employees can sleep at night knowing how many people they have put out into the streets and how many homeless senior citizens there are now due to their

lies and wrongdoings. None of us homeowners wanted this nor did we ask for it nor did we sign for this. What happened what greedy companies like Merrill Lynch and Wilshire Credit and Capital Investments and Deutsche Bank saw a way to fill their pockets until their "cup runneth over" of which they have. They have taken people's dreams, hopes, livelihood (not only adults but also children) and have made it into "horror stories" just big corporation get rich quick schemes. Someday a good investigative journalist and will come along and expose these corporations/companies for what they really are and what they have really done and how rich these companies and corporations have gotten off the hard working average guy and the senior citizens. Just follow the paper trail and it leads you to people and places that I would have never thought or dreamed possible.


Please take them to your attorney.

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  • Va
      3rd of May, 2008
    0 Votes

    I made the mistake of financing with Wilshire mortgage, and I REGRET IT! Whenever I contact them, it takes too long to get an answer. It’s as though they are trying to wear you out. Also they know that most people don't have the time to stay on the phone during working hours, so they stall and drag their feet to get an answer. They also only conduct business during regular business hours, when most people are at work and can't bother them. Then if you are able to prove that the mistake is theirs, it will come back again in a month or two. They have instilled their insurance every year, for the past few years, without checking with my insurance company. If you use their website to make payments, they still charge you a transaction fee. Even though every company on earth uses the internet and other electronic methods of communicating, they are stuck in the 1980's. FRIENDS DON'T LET FRIENDS USE WILSHIRE MORTGAGE.

  • Va
      23rd of May, 2008
    0 Votes

    You will find a useful link on there that will point you in the right direction-the truthful one that explains on a short PowerPoint, without too much detail-so that they do not give their squeezing blood from a rock business operational model and trade secrets away (but you get the hint). You get a taste of who they are and what their priorities are. You, the mortgage owner, are not the client. The investors of these mortgage backed securities are. It is true that Wilshire can modify and short sale loans. They can and that information is a couple of clicks away from the public listed website above. Happy reading and I hope that you learn something useful for us all. Who will be the winners and losers of these loans-us, the taxpayers, FHA or the investment companies?

  • Cl
      6th of Jun, 2008
    0 Votes

    wilshire bought my loan for .50 on the dollar and has refused to work with me, even after i was going to give them .75 on the dollar to drop my loan down so i could re fi out, im caught in that ajustable mess, and they have a program for people in this mess, they treat you like a game show host, they would like to help you but they can"t they are the biggest rip off, looking for a class action or an attorney that would take this case, all inall there the ones that caused this mess that everbodys in, if you in this to please contact me.

  • Ri
      19th of Jun, 2008
    0 Votes

    We had a house fire in june of last year. we owed Wilshire 55ooo.oo on our home. our insurense paid us alittle over 50, 000 to fix our house. so we decided to put the money toward the payoff sense we were almost in forcloser when we had the fire. They took the money and told us we still owed them 7500. we were to make payments of 775 a month for 10 month which make the payoff this month. now they say we owe them over 4000. more and we dont get a mothly statement. so we dont what kind of charges they are putting on our morgage

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