I'm angry and this is going to be an angry post. I have reason to be angry and frustrated since it seems that there is nowhere I can turn to for help.
Well, IndyMac/OneWest, being the complete jerks that they are, denied my HAMP modification, and in their denial, the reasons were in so many words "you don't qualify" but no particulars as to why exactly I don't qualify. I've emailed Brandon Latman, the jerk who sent me the denial letter, to find out why, and no surprise, he hasn't emailed me back.
I also have tried to get an answer from loan resolutions as to why, but they can't or won't tell me. I am so sick of this bank. I am sick of all banks. They're nothing but leeches who loaned out money to folks they probably shouldn't have lent to in the first place, and now they're crying foul to the government who runs to give them help, no questions asked. But when a lowly homeowner needs help, there's all sorts of requirements and documentation you must provide before even being considered for help.
The answer to this crisis is a do over for homeowners. A nationwide loan modification program, regardless of bank or investor, where the investors and banks are forced to take the losses as we have had to eat our equity. Everyone's loan get's dropped to the value of their house, interest rate dropped to 2%, and extended out to a 40 year term. Everyone. I don't even care if the rich get to take part, too.
None of this stupid, "voluntary" crap. Of course the lenders and servicers are not willing to modify. Why should they, when they make a ton of money off foreclosure? Why should they take a loss on their balance sheet when if foreclosed on, they can show an asset valued at whatever the loan amount is? There's no incentive for them to do the right thing. The only way is to FORCE them.
Well, I am done ranting. I don't feel much better, but at least I got that off my chest!
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