My friend and fellow blogger @Fashorganized’s saga continues. She first posted on Battling the Banks a couple weeks ago but it didn’t end there. And it’s not going to end here, either!! Please, help her get her word out. Flagstar is just as awful as the rest of those banks!
Since my last post Abandoned By Flagstar, things have gone from bad to worse.
The day of my post Flagstar Bank came back with a modification number $200 less than our mortgage payment before Rob lost his job. They call it a temporary 3 mo modification. Of course, we would revisit the numbers in 3 months. If they had looked at our last 16 mo of bank statements, they were sent, they would see that 1 paycheck I receive is ⅔ of that payment. Are they expecting me to live in the dark with no food and water for my 3 children? How about I just get a refrigerator box, and live in that in the backyard?
I’m working my a$$ off taking on overtime at my day job, and trying to build my Social Media business to make any extra money I can. No matter what I do, on top of my husband taking on any contract work, we aren’t making up for what we lost when Rob lost his job.
My parents graciously offered to lend us the money from their retirement funds so that we could keep our house for 3 more months.
The paperwork was sent to us Wednesday, we sent the paperwork back signed with a cashiers check Thursday overnight. We checked on Friday, and it had arrived and been signed for. Phew, we get to keep our house for 3 more months, while they live with the fact that they just had us wait 16 months to lower our payment $200.
Yesterday, at 5 PM PST a man walked up to our front door introduced himself to Rob as the broker for the new owner’s of our house…
I’m sorry what?
Yes, our house was in fact auctioned off on January 3rd, and purchased.
Rob and my dad, who happened to be at our house, told the broker that we had modified. He said, “it happens”, and asked for copies of the paperwork. Rob said he’d e-mail to him right away.
We were told that by signing Flagstar Bank’s contract, we would be keeping the house, and it would be removed from the auction listing. They breached their own contract. They didn’t inform us that we were going to lose our house. We sent them the money they asked for.
Rob sent a fax to Andrea with copies of everything we sent, including proof of delivery last night. He sent an e-mail to the broker for the “new owners” with all of the paperwork, and cc’ed CEO of Flagstar Bank Joseph Campanelli. In addition, he sent an e-mail with the contents of the paperwork faxed to Andrea to Mr. Campanelli.
It is now 10:05 AM PST on January 5th, which means that it’s 1:05 PM in Andrea’s office, and we have heard NOTHING!!!!!!!
We did everything as instructed for the last 16 months. I just don’t understand how a bank doesn’t honor their own paperwork.
The saga continues…
If you feel so inclined please e-mail Joseph Campanelli, CEO of Flagstar Bank at Joseph.Campanelli@flagstar.com. Maybe, he’ll hear me now!
Thank you everyone for your support, and continuing to support us, as we traverse this indecency.
Mary@Everyday Baby Steps says
Oh my God, honey, I am so sorry. I can’t even imagine what you’re feeling right now, Candice. I wish there were something I could tell you that would be at all reassuring. I will continue to follow your story, and your friends will offer all the support we can. Thinking of you.
Mary@Everyday Baby Steps´s last blog post ..Vowing to Capture This Year in Photos
Angie [A Whole Lot of Nothing] says
Good lord. I have no other words other than I’m Sorry and GOOD LORD.
Angie [A Whole Lot of Nothing]´s last blog post ..Did You Ever Know That I Could Be Your Hero?
kristen howerton says
Insane and unjust. I hope they work this out for you.
I’m at a total loss for words. I can’t tell you how close we were to having the same thing happen, with an equally unhelpful and disorganized lender. Thank you for having the courage to share your story. I hope this gets Flagstar’s attention.
Same story, different bank. We had a modification, sent money, had signed paperwork (all around!), breathed a sign of relief and then a month later received a foreclosure notice–correction, the bank never sent us a foreclosure notice. EVER. We found out from a realtor who PHOTOCOPIED our public listing from the paper and sent us a letter saying she could help with a short sale.
Life is so much better.
I’m kind of sad I wasted two years trying to work with the bank and keep our house. It so wasn’t worth it.
Life is better on the other side. It’s hard to see when you’re in the trenches, but it really is.
Hang in there. I know the stress this entire process can put on a family.
Wow. Just … wow. As many things that are out there where I scratch my head, this one is special. I get where there are banks that want to foreclose because they lent the money, people accepted it and then didn’t pay but there is a level of decency and morality that requires communicating with the people who are a part of the contract and trying to work with them and not do things on the sly. This sucks all around, including for the new buyers. Here’s hoping there’s a happy resolution… someday. Good luck and BOO to immoral people and companies.
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