"For me, it's my palace even though it's old," said Leverman, who speaks little English.

To make the initial monthly payments of about $2,500, her husband and sons worked long hours as cooks. But in 2008, her husband lost his job and her sons' hours were cut back, just as the variable-rate mortgage payment shot up to $4,353.
The increase shocked Leverman, who'd signed the English-only documents without understanding the terms. The family then wasted $6,500 on three loan modification "experts" who didn't accomplish anything.
The last straw was when Litton Loan Servicing refused to grant them a permanent loan modification, claiming their third trial payment was late — even though they had a Western Union receipt showing it arrived on time. An attorney for Litton did not respond to requests for commen
Increasing numbers of Californians are suing lenders to avoid foreclosures - San Jose Mercury News
1 comment:
Nice. They got home with 0 down payment. No wonder it costs now just around 500K.
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