This is in repsonse to Pam's comments above:
First and second of all, don't come in here thinking for one second that you can insult our intelligence and blow that bs in our face! You and every other Mortgage company collector "and I do not need to give names; cause we know who you are, give one iotta of care for the consumer! You want to know one of the very reasons why there are so many complaints about people like you? I'll give you just one!
You may here some real anger in my voice that is becuase of your foolish and pathetic attempt to explain your actions only PISSED ME OFF to the hilt! And the only real reason your in this industry Pam is becuase you knew you would get yours regardless of all of those criminal sub prime defaults that have F_ _ _ _ ed up this countries economy. So start with being honest here; you have collected on some of those said "criminal sub-prime loans" haven't you?
My story-
I have a First with CityBank who in the end only showed any respect when they got "OUR" bailout money! I had to file a BK just over 2 years now because of a failing retaurant btw; in which I ended up having to use my own money to start $124k (total cash lost 280k). Now, in a mis-understanding with my lawyer I quit making payments on our home during the file period. This obviously caused a huge problem and I ended up in the tank for 18k. Since we had no intention of defaulting and loosing our home we worked out a forebearence agreement with City. Here's where Pam's viewpoint on "Collectors" crash and burns (btw - Pam you may be part of a .01% too the exception, so I will give you that credit here).
After being treated like some "Johnny lunchbucket off the street" by the collection dept. with no regard to my reasoning for the default - And I was very Professional and very apethtic to say the least; City used the "Immediate Foreclouser" scare tactic to get me into the highest payment they could get outta of me to "stop" the process. 3700.00 per month for 6 months, blah - blah you know the rest of how that works. I couldn't manage that amount after few months and only sent what I could, sometimes only 2500.00 per month. Well as you know when you default on a forebearence it voids the agreement and your back to square one!
So we workout another agreement only this time Im working with a real "professional" colletions person out of the BK department, and this guy was awesome! Never once did he harrass me, or talk down to me or ever bring up the past. He asked "me" what could I afford to pay- I asked him (in crinched whencing face) three thousand per month? He said "ok I will see if I can write this up and have mailed to you for signature and down payment". If I can make these payments for 6 months with out being late, this will show good intention and I can get you back on your regular payments 2400 per month and mod you loan so that your mortgage will be back on a normal pace. Never once did I miss, never once did I come up short although I continued to get "harrassing" letters in the mail, I made those payments; 7 months to be exact and still hadn't heard from him or Cityby that time because they were getting paid!
I called and called left message after message and the only thing i got from him was a VM stating "Im no longer handling your file, it has been a pleasure to work with you but at this time someone else will be handling your file and will be in-touch"! Lets us move ahead 2 months later. Now I continued making regular 2400.00 payments because we are supposed to be on a normal mtg payment. Finally one day at work I get the most disturbing call of all time- You all ready for this? This guy calls from City stating his name and the first flippent question from his pie hole( im getting steamed from thinking about it) is, "We want to know what your intention is Mr. "my last name"? I said "Excuse me?, I dont' understand why you are asking me this question". He stated that I was seriously delinquent on my mortgage and that if I didn't come up with over 11k that they are forclousing on my house!
Needless to say I became hot real quick - Ah maybe because he was the upmost cockyiest a-hole I have ever spoke with over the phone. Pam?, are you starting to see the forrest for the trees yet? Well it gets even better! All of a sudden now he's oblivious to what I have just been through over the last year or so and doesn't need to know apparently! So I asked this guy do you even have a clue of what has been going on with my situation? He said yes, I understand that you haven't been making any payments to get caught up on you mortgage! And I asked him what did I just spent 7 months paying 3k per month for? He said that was never going to bring you current.
Now this guy was either new to City or was seriously out of line to whole process - he wasn't new and had not read my file before calling me. Well a pissing match had ensued and our conversation was going no where fast; in fact, he actually told me " to start packing becuase they are forclousing on my house"! At this point I decided to ask for the Manager to which he stated isn't available and that he is the only one that I need to talk to and that would be handling my file and had all authority. Oh really? I simple stated to him "I will only deal with your manager and don't you ever contact me again"! (Hung up on that a-- hole right there).
Finally after about two weeks and a few left messages for his manager, the manager called and woke me on a Saturday morning. At first his manger was a little cocky too, but I noticed he would allow me to state my case when I prompted to be heard. Well, apparently the message was heard loud and clear and the manger read my file after putting me on hold for about 10 minutes; to my agreement. He came back and I could hear the apathy in his voice. Stating that after reading the file the collection person was out of line and oblivious to my efforts and that he wouldn't be calling me again and I fully agreed. The manager also stated that if I sent him copies of the previous foreberence agreement that he would take up the file and make sure that we would be put back into our original mortgage plan.
As requested I faxed all the documents over to him! To this day I have never heard from that manager and he Never returned any of my calls - So let the games begin was my thought! I decided to stop making payments on the mortgage forcing their hand. After 6 months of no payments I get a letter in the mail stating that City wanted to re-modify my loan to included lower interest, lower principal and new terms. Upon my follow up to the letter I realized I was working with a department completely seperate from collections all-together. The women on the other end was an absolute gem and she didn't tonque lash me for the past and actually didn't know anything about it other than " I was chosen out of 35oo customers who qualified for the re-mod".
Was this one of those to good to be true stories? Here is the modification offerring - 1. Interest Only for 6 years @ 4.25% and then 40 yr fix @ 4.25%, + Principal brought down to current market value = 480k to 233k (write off covered by Bailout!) 2. Principal + Interest fixed for 40 yrs. reduction of Principal (write off covered by bailout) = Tax payer!
Here's the crux of it all and why I felt like Pam's attempt for us to feel so sorry for her and her colleques urks me to the core and you as well!
After it was all said and done, and btw I accepted #1 option; I got my home loan modified to better terms but at the expense of the Taxpayers including me. And btw guess who got their money on the original loan off the bailout? CityBank! And guess who will get paid on the new terms of the loan when its paid off or sold -You got it, CityBank! Please don't think for one moment you; the taxpayer, will ever see your monies given back from the government! So my friends does Pam deserve your cosideration and respect? Does Pam and the likes of the collection industry deserve respect? You can't be serious with your bs story as I stated above. "We are so ungrateful"? You ditz! We are being financially raped over and over again by this government in taxes and bailouts that people like you in this industry helped to propigate!...
In short Pam "We all are crying rivers of Tears for You and Yours" so before you try to sell your BS to honest hard-working real Americans, think about us on the other side of the table. I'm not saying that everyone played by the rules on our side either, but dont act like you and the industry you work in didn't know whats up becuase we knew then and we know now who was doing what!
--My wife was then and still is a licensed Mortgage Loan Officer, and yes, is probably one of a very few that we knew what was going on and chose to "Not" participate in un-scupulous loan practices. We sleep very well at night thank you!
