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7Oct/101

For Closure…

I've been in foreclosure for what seems like forever. I haven't payed my mortgage bill since February of 2009. I've tried, but they sent my money back. In and out of foreclosure, they keep fucking me around. Mostly in.

My mortgage company is ASC - America's Servicing Company. They are a subsidiary of Wells Fargo. They handle 3rd party lender loans for WF. My loan is a Freddie Mac loan. That all just means that I'm in the worst case scenario - the perfect storm of bad home loans.

I've been trying to get a loan modification on my house. I hadn't worked for a few years and had run out of money. I was basically paying off my bills with credit cards. Eventually, I ran out of credit. I ended up starting over - abandoning my business and getting an actual job.

I've basically worked my ass off non-stop to pull myself out of this hole. I've payed off and settled 3 credit cards and only have 3 more to go. I've been struggling with ASC to get this loan modification to go through. They've fought me every step of the way.

I've been on the verge of foreclosure numerous times - usually without any notice. One month it came down to the last 10 minutes. I sent them proof of income - 4 checks to represent a month - they assumed I sent them 2 months worth of checks so they basically thought I made half as much as I do. This error got me disqualified for the Home Affordable loan modification. I got them to extend me one last time and since I was disqualified for Home Affordable, they did the loan modification in-house.

The loan they presented me with was 400 bucks more than my original payment. That's fucked. They also didn't give me the option of not accepting it since they said they wouldn't postpone my foreclosure again. I was between a rock and a hard cock.

I accepted the loan terms since I had no choice hoping to figure out my next move before my first payment was due. The first payment was due Nov 1st. The other day, I get a notification that my house is back in foreclosure with a sale date of October 13th. After several attempts to call, I find out that they expect me to get 1800 bucks in to them by October 13th in order to cancel the foreclosure... in spite of my signing all the required paperwork.

I can't afford it. My payment went up, my APR went up, and my principal was increased. I haven't heard of any other cases of this. I basically got fucked in the butthole on this one. I guess that's how this works. The entire system of money has built-in failure - built-in foreclosure. Someone has to lose.

I would've loved to have been able to keep my house - however, they want me to pay on a loan of nearly 300k for a house barely worth 160k at this point in this market. It looks like I'm going to have to take the hit to my credit for the next 10 years in exchange for not having to pay house payments for over a year and a half. Fuck.

I'm about a week away from my final foreclosure - I ain't paying 1800 bucks by the 13th - I just don't have it. This isn't just a foreclosure. This is closure. I've lived here for 10 years. I love it here. I'm sad.

Is this my fault? I suppose it sort of is... at the same time, I have to blame our money system. Money is created upon the promise to pay it back. If everyone payed back their loans today, then there would be no money. That wouldn't happen, but if we factor in interest - all of the money in existence can't cover both the loan amounts plus the interest on all of these loans - that means someone has to lose. Someone has to get foreclosed on.

This time, it's me.

Oh well.

Perhaps there's a silver lining to this dark cloud. New beginnings. I haven't moved in 10 years. A change of scenery couldn't hurt, eh? Here's to new adventures.

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  1. My dear Max you are not a minority… You are an employed white boy so there is nothing for you but the butt effing you are now (not) enjoying. I really hope this is a new beginning for you, and you can feel less entrapped by the awful folks that have had you by the short hairs for so long. Be free young man and enjoy the new chapter in your life. Hugs Ma A

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