“Dear Homeowner, we lowered your payment” letter

[jficquette]

[quote=fat_lazy_union_worker]I wish I could threaten to sue to have my principle or loan payment lowered. Sue for being overly responsible.[/quote]

Class action suit would be the way to go.

[djc]

as I said, I will get more details this week when I see the letter. This was not a “casual cocktail conversation” but more along the lines of my phone ringing and asking if I had heard of this happening to others. they know how closely I follow the RE debacle and knew I’d find it interesting.

I hope that some of the cynics are right and my friend has lost his mind, however with how things have been panning out lately, this scenario would not surprise me.

[djc]

as I said, I will get more details this week when I see the letter. This was not a “casual cocktail conversation” but more along the lines of my phone ringing and asking if I had heard of this happening to others. they know how closely I follow the RE debacle and knew I’d find it interesting.

I hope that some of the cynics are right and my friend has lost his mind, however with how things have been panning out lately, this scenario would not surprise me.

[djc]

as I said, I will get more details this week when I see the letter. This was not a “casual cocktail conversation” but more along the lines of my phone ringing and asking if I had heard of this happening to others. they know how closely I follow the RE debacle and knew I’d find it interesting.

I hope that some of the cynics are right and my friend has lost his mind, however with how things have been panning out lately, this scenario would not surprise me.

[djc]

as I said, I will get more details this week when I see the letter. This was not a “casual cocktail conversation” but more along the lines of my phone ringing and asking if I had heard of this happening to others. they know how closely I follow the RE debacle and knew I’d find it interesting.

I hope that some of the cynics are right and my friend has lost his mind, however with how things have been panning out lately, this scenario would not surprise me.

[djc]

as I said, I will get more details this week when I see the letter. This was not a “casual cocktail conversation” but more along the lines of my phone ringing and asking if I had heard of this happening to others. they know how closely I follow the RE debacle and knew I’d find it interesting.

I hope that some of the cynics are right and my friend has lost his mind, however with how things have been panning out lately, this scenario would not surprise me.

[temeculaguy]

djc, I wasn’t trying to be cynical, just looking at it logically and asking myself the question, “why would a bank who is getting all of their money every month and on time, suddenly ask permission to lose money?” Even when people are in distress they don’t get deals like that, why solicit reworks from your performing loans if you are the bank?

Taking the “no free lunch approach” I assume there is a catch or a part of the scenario missing. Be sure to ask questions other than read the letter. There is one other possibility, it could be a scam of some sort from someone other than their bank or someone posing as the bank, verify the phone number with the actual mortgage servicer’s number listed online or on the bill. There are outfits fleecing people right now and there have always been mortgage companies marketing to get people out of good loans into bad ones, countrywide was notorious for this, marketing to their own clients.

[temeculaguy]

djc, I wasn’t trying to be cynical, just looking at it logically and asking myself the question, “why would a bank who is getting all of their money every month and on time, suddenly ask permission to lose money?” Even when people are in distress they don’t get deals like that, why solicit reworks from your performing loans if you are the bank?

Taking the “no free lunch approach” I assume there is a catch or a part of the scenario missing. Be sure to ask questions other than read the letter. There is one other possibility, it could be a scam of some sort from someone other than their bank or someone posing as the bank, verify the phone number with the actual mortgage servicer’s number listed online or on the bill. There are outfits fleecing people right now and there have always been mortgage companies marketing to get people out of good loans into bad ones, countrywide was notorious for this, marketing to their own clients.

[temeculaguy]

djc, I wasn’t trying to be cynical, just looking at it logically and asking myself the question, “why would a bank who is getting all of their money every month and on time, suddenly ask permission to lose money?” Even when people are in distress they don’t get deals like that, why solicit reworks from your performing loans if you are the bank?

Taking the “no free lunch approach” I assume there is a catch or a part of the scenario missing. Be sure to ask questions other than read the letter. There is one other possibility, it could be a scam of some sort from someone other than their bank or someone posing as the bank, verify the phone number with the actual mortgage servicer’s number listed online or on the bill. There are outfits fleecing people right now and there have always been mortgage companies marketing to get people out of good loans into bad ones, countrywide was notorious for this, marketing to their own clients.

[temeculaguy]

djc, I wasn’t trying to be cynical, just looking at it logically and asking myself the question, “why would a bank who is getting all of their money every month and on time, suddenly ask permission to lose money?” Even when people are in distress they don’t get deals like that, why solicit reworks from your performing loans if you are the bank?

Taking the “no free lunch approach” I assume there is a catch or a part of the scenario missing. Be sure to ask questions other than read the letter. There is one other possibility, it could be a scam of some sort from someone other than their bank or someone posing as the bank, verify the phone number with the actual mortgage servicer’s number listed online or on the bill. There are outfits fleecing people right now and there have always been mortgage companies marketing to get people out of good loans into bad ones, countrywide was notorious for this, marketing to their own clients.

[temeculaguy]

djc, I wasn’t trying to be cynical, just looking at it logically and asking myself the question, “why would a bank who is getting all of their money every month and on time, suddenly ask permission to lose money?” Even when people are in distress they don’t get deals like that, why solicit reworks from your performing loans if you are the bank?

Taking the “no free lunch approach” I assume there is a catch or a part of the scenario missing. Be sure to ask questions other than read the letter. There is one other possibility, it could be a scam of some sort from someone other than their bank or someone posing as the bank, verify the phone number with the actual mortgage servicer’s number listed online or on the bill. There are outfits fleecing people right now and there have always been mortgage companies marketing to get people out of good loans into bad ones, countrywide was notorious for this, marketing to their own clients.

[CA renter]

Another possibility is if the lender is trying to turn a non-recourse loan into a recourse loan. They should definitely have an attorney check out all the paperwork before they sign anything.

[CA renter]

Another possibility is if the lender is trying to turn a non-recourse loan into a recourse loan. They should definitely have an attorney check out all the paperwork before they sign anything.

[CA renter]

Another possibility is if the lender is trying to turn a non-recourse loan into a recourse loan. They should definitely have an attorney check out all the paperwork before they sign anything.

[CA renter]

Another possibility is if the lender is trying to turn a non-recourse loan into a recourse loan. They should definitely have an attorney check out all the paperwork before they sign anything.

[Author]

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