Maybe because I have made it very clear to many friends that my husband and I have been hoping to have our mortgage refinanced or modified pretty much since we bought the home about four and a half years ago.
So one of my friends from my dreaded News Journal days now lives in North New Jersey and works for AOL Finance as an editor/writer. He let Teke Wiggin know about our struggles because Wiggin was preparing a story to further elaborate on the recent $25 billion settlement which mortgage banks are being asked to use to help distressed borrowers. Wiggin and I had a phone interview and exchanged emails discussing what I knew (or in this case did not know) about my mortgage.
You can read what he found out and what he helped me find out his latest article “Bank Sold Your Loan? Mortgage Settlement May Deal You Out” which published today on AOL’s Real Estate news section online.
My favorite paragraph…
But after a little research, Mannering discovered that they do not qualify because Bank of America sold their loan to what she calls a “phantom loan owner:” Fannie Mae. Unfortunately for the Mannerings, Fannie Mae-owned loans, are not eligible for modifications under the deal.
“I would have never thought that it is not [held by] Bank of America,” Mannering said. “Bah, humbug.”
So just in case y’all were wondering if I talk like I write or if I am really as strange as I seem on scrink.com… well yes, yes I am.
P.S. I desperately want to comment on the article because there are “comment trolls” mucking up the place, but I have been convinced by several smart people that I should just ignore them. However, if I did comment on it, this is what I would say to the first commenter.
Wow. So hi there David, you don’t know me, please don’t call me an idiot or a sucking leach. I do not need to justify any of this to you, but in case people are wondering about the situation I thought I would help make you look like more of an @ss by filling everyone in.
We had enough money to handle closing costs and were advised about our mortgage which is why we decided to go that way. We were newlyweds. Yes, I work at a University, my husband is also employed full-time. I’m not sure why that part matters. You have no idea how much I make simply because you know I work at a University. We have never missed a payment, even when my husband was laid off for 18 months we never missed a payment.
The neighborhood is less than stellar unfortunately and now it no longer even has a playground because the civic association was tired of all the vandalism. Our home has been robbed and there have been many burglaries in the area (12 reported since mid-December to be exact).
We want to be able to move into a single family home, more space, safer area because our family has grown. With the payments we have right now in our town home we are struggling and unable to sell because we are underwater.
/end rant you can now go back to being angry for no good reason have a great weekend!