Martha* had been trying to modify her home loan singlehandedly for almost a year. With a sick husband and a monthly mortgage payment of $1,302, she simply couldn't afford to pay all her bills. After months of submitting document after document, hoping that her payment would be reduced, Martha's lender denied the modification. She had already cut back her spending as much as she could. Without the loan modification, Martha wondered if there was any way she could keep her home…
As a last resort, Martha was referred to Consumer Credit Counseling Service. Upon calling, Martha spoke to Tina Williams, certified housing counselor. Tina worked with Martha not only as a housing counselor, but as a consumer advocate as well. She guided Martha through the modification process, assisting with the acquisition and submission of all necessary documentation, as well as supporting all communications with the lender. After several months with Tina's help, Martha was successful in obtaining a loan modification, reducing her monthly mortgage payment to a more manageable amount.
Unfortunately, right after receiving news that the modification had been approved, Martha's lender sold her loan. Though Martha retained all the documentation proving that she had been approved for the modification, her new lender refused to recognize the reduction in monthly payments, demanding the full $1,302 in payment each month. Understanding that Martha's consumer rights had been violated, Tina encouraged her to seek legal counsel from Legal Aid and helped her to file complaints with several consumer protection offices, including the CFPB.
Through working with an attorney at Legal Aid, Martha found that some of the documents her new lender had sent were incorrect. With the assistance of her attorney, the paperwork was rewritten and Martha finally received the loan modification that she deserved. She even obtained a reduced interest rate through the process! Instead of paying $1,302 each month, she now only pays $1,170, saving $132 each month. Hopefully, this amount will be reduced even further in the future.
Recalling her experience, Martha remarked "Tina was so kind and knowledgeable. It was a relief to have someone on my side. When I called the lender, she'd be on the line with me, helping me through the process. And it felt so good to know that she was there for me, that she wasn't going to let them take advantage of me. It was almost like having your mother there, standing up for you."
Martha continued by saying, "I'm sure there are a lot of people out there going through the same thing. My suggestion to them would be 'Call CCCS and ask for Tina!'"
Congratulations, Martha! We're so glad that you finally received the reduction you deserved!
*Name has been altered to preserve anonymity.
If you fear that you might lose your home to foreclosure, please don't hesitate to contact CCCS. Call (423)490-5620, email CCCSreception@PartnershipFCA.com, or live chat with a certified counselor right now!