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Share Your Story

Lisa Muntean

These are taken from our 100 Stories of What Wall Street Broke Tumblr page

As a homeowner, I would have never suspected that the decision to buy a house would end up tearing my life apart rather than securing my future. Like many, I thought this was a huge pivotal point that responsible people come to.

I purchased a home in 2007, even waiting over 6 months for the price to go down on the house I fell in love with as the market continued to fall. I lived in the house until 2011, when I could no longer afford the payments.  I called the bank to see if I could receive a modification on the loan to only be told that I don’t qualify for a modification because I am not behind in my payments.  I continued to point out that without assistance, I will become behind which is what an ethical and moral person is worried about, being responsible.  The lady went on to explain to me that if I didn’t pay the mortgage, I would not qualify to refinance the loan because I would be ruining my credit rating. I could not afford to refinance anyways, if I had the money for the fees then I would HAVE the money for the payment!

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Vivian Richardson

These are taken from our 100 Stories of What Wall Street Broke Tumblr page

Vivian Richardson has been a homeowner in San Francisco’s Bayview neighborhood for almost 15 years. She purchased the home in 1999. When she was laid off in 2005, it was around the same time that her toxic loan started to increase. With little choice, Vivian started to work as many part time jobs to make sure she was on time paying her mortgage. In 2008, she was able to refinance her home to get out of the subprime loan that she was in. Unfortunately, the loan she modified into was also subprime, and she was soon faced with the same situation. She fell behind and tried to work with the bank for a modification.

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Sergio & Jonathan Ceballos

These are taken from our 100 Stories of What Wall Street Broke Tumblr page

On May 18-25, hundreds of Home Defenders will participate in multiple direct actions in Washington, DC to protest bank crime and wrongful foreclosures like Sergio’s. More info on May 18-25 actions here.

Sign Sergio’s petition here and read his story below.

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Seterus/IBM Mortgage Company

Please tell me how I can make payments as required for over 15 years and owe over $10,000.00 more than I agreed to on my original mortgage? Seterus Mortgage company is trying to take my home!

I have been having major problems with Seterus Mortgage Company for over 1 1/2 years. They are still trying to foreclose on my house. I bought my house for $62,000.00 @ $496.27 per month, and have had the mortgage for 17 years, thus only owing 13 years.

Seterus is demanding a $72,996.00 payment in full… or they will “be happy” to modify my load for 40 years @ $980.00/month or they are going to foreclose!

I am 73 years old, disabled and live on SSI of $790.00 a month! They are fully aware that I cannot afford, nor could I qualify for a $980.00 a month loan! I need help immediately!

MORE DETAILED EXPLANATION: To whom it may concern:

I purchased this house, 12203 Plumbrook Drive, Houston, Tx 77099 in 1997. SunTrust Mortgage has held the paper on my house for over 10 years. For more than 3 years I was 2-5 months ahead on my payments; however I became very ill, was hospitalized with Pneumonia, COPD, Collapsed Lung, Lung Cancer, Heart problems, 2 Brain Aneurisms, and other incurable & inoperable diseases. Needless to say, I have been hospitalized numerous times and was unable to keep my payments up to date for the last year or so. I never let them become delinquent for more than a month or two without making them up.

I worked very hard to make up each month as soon as possible, as I was severely ill and in the hospital with negative expectations that I would be coming home. I sold many of my belongings to maintain my responsibilities and never fell more than two months behind.

SunTrust sold my account to a ‘so-called’ Debt collector/Mortgagee, called Seterus. (They advertise themselves as a collection company.) They told me that I was scheduled for foreclosure, that my house was going to Auction on October 21, 2013, and that I needed to do a Loan Modification on the loan immediately! I said I would like to find out more and consider it. I then found out that the said “Loan Modification” would be for 40 years (I owe less than 13 years on my present loan) and payments would be considerably more (over $900.00 a month) than what I have paid ($496.27) for the last 17 years!

Since I am 73 years old, I have had my property taxes deferred since 2007 and this seems to be where a good portion of the problem comes in. It seems that Seterus received my loan in March of 2013 and immediately decided that they needed to pay off my ISD Property taxes.

They didn’t consult, confer, ask, and/or let me know what they intended to do! They just paid off my Deferred Alief ISD taxes, started an escrow account, raised my interest rates, extended my 13 year loan to a 40+ year, and doubled my payments! I have had my house for 17 years and have never had an Escrow account! I always paid my taxes & insurance separately! I still have separate insurance with ABC Insurance, (713-785-2138).

Both the County of Harris and AISD have documented that Seterus over-paid the taxes and refunds were disbursed to them.

SETERUS is now demanding an immediate cash payment of $72,621.25 or they will foreclose on my house! They will not accept my monthly payments and have returned them to my bank with notice that they are unacceptable!

I have talked with the Seterus representatives numerous times over the last few weeks, and they keep telling me that they will get it all straightened out, but that doesn’t happen! They admit that they should have consulted me before paying the taxes! Seterus claims that I am delinquent on my payments, however I sent them proof of payments from my bank and they are still determined to take my home away from me!

They have destroyed my credit and any chance I had of refinancing my house through the Presidents HOPE program, and/or any other that I have been able to locate. I am out of time, therefore time is of essence! I am seeking advice, assistance and a solution to saving my home, modifying my loan to a more affordable amount; remove all of the derogatory information and statements on my credit reports.

Please contact me as soon as possible to discuss any possibilities.

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73 Year old Disabled vs Seterus Mortgage Company

Please tell me how I can make payments as required for over 15 years and owe over $10,000.00 more than the original amount on my 30 year mortgage? Seterus Mortgage company is trying to take my home! I live on Social Security and am Disabled and was not delinquent on my payments until Seterus bought my mortgage from the previous lender.

I have been having major problems with Seterus Mortgage Company for over 1 1/2 years. They are still trying to foreclose on my house. I bought my house for $62,000.00 @ $496.27 per month, and have had the mortgage for 17 years, thus only owing 13 years.

Seterus is demanding a $72,996.00 payment in full… or they will “be happy” to modify my load for 40 years @ $980.00/month or they are going to foreclose!

I am 73 years old, disabled and live on SSI of $790.00 a month! They are fully aware that I cannot afford, nor could I qualify for a $980.00 a month loan! I need help immediately!

MORE DETAILED EXPLANATION: To whom it may concern:

I purchased this house in 1997. SunTrust Mortgage has held the paper on my house for over 10 years. For more than 3 years I was 2-5 months ahead on my payments; however, I became very ill, was hospitalized with Pneumonia, COPD, Collapsed Lung, Lung Cancer, Heart problems and other incurable & inoperable diseases. Needless to say, I have been hospitalized numerous times and was unable to keep my payments up to date for the last year or so. I never let them become delinquent for more than a month or two without making them up.

I worked very hard to make up each month as soon as possible as I was severely ill and in the hospital with negative expectations that I would be coming home. I sold many of my belongings to maintain my responsibilities and never fell more than two months behind.

SunTrust sold my account to a ‘so-called’ Debt collector/Mortgagee, called Seterus. (They advertise themselves as a collection company.) They told me that I was scheduled for foreclosure, that my house was going to Auction on October 21, 2013, and that I needed to do a Loan Modification on the loan immediately! I said I would like to find out more and consider it. I then found out that the said “Loan Modification” would be for 40 years (I owe less than 13 years on my present loan) and payments would be considerably more (over $900.00 a month) than what I have paid ($496.27) for the last 17 years! I then found out that the said “Loan Modification” would be for 40 years (I owe less than 13 years on my present loan) and payments would be considerably more (over $900.00 a month) than what I have paid ($496.27) for the last 17 years!

I said I would like to find out more and consider it. I then found out that the said “Loan Modification” would be for 40 years (I owe less than 13 years on my present loan) and payments would be considerably more (over $900.00 a month) than what I have paid ($496.27) for the last 17 years!

Since I am 73 years old, I have had my property taxes deferred since 2007 and this seems to be where a good portion of the problem comes in. It seems that Seterus received my loan in March of 2013 and immediately decided that they needed to pay off my ISD Property taxes.

They didn’t consult, confer, ask, and/or let me know what they intended to do! They just paid off my Deferred Alief ISD taxes, started an escrow account, raised my interest rates, extended my 13 year loan to a 40+ year, and doubled my payments! I have had my house for 17 years and have never had an Escrow account! I always paid my taxes & insurance separately, as I do now! I still have separate insurance.

Both the County of Harris and AISD have documented that Seterus over-paid the taxes and refunds were disbursed to them.

SETERUS is now demanding an immediate cash payment of $72,621.25 or they will foreclose on my house! They will not accept my monthly payments and have returned them to my bank with notice that they are unacceptable!

I have talked with the Seterus representatives numerous times over the last few weeks, and they keep telling me that they will get it all straightened out, but that doesn’t happen! They admit that they should have consulted me before paying the taxes! Seterus claims that I am delinquent on my payments, however I sent them proof of payments from my bank and they are still determined to take my home away from me!

They have destroyed my credit and any chance I had of refinancing my house through the Presidents HOPE program, and/or any other that I have been able to locate. I am out of time, therefore time is of essence! I am seeking advice, assistance and a solution to saving my home, modifying my loan to a more affordable amount; remove all of the derogatory information and statements on my credit reports.

Please contact me as soon as possible to discuss any possibilities.

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