Question


WENDY D

Is there anywhere I can turn to?

Back in January, a realtor from Remax told me she can help modify my home loan and lower my interest rate. I told her I was not behind, she said she could still help. I went, gave her my information and she told me to stop paying on the house and that would add pressure to the bank. I stopped paying for 6 months, she did help me lower the interest rate 2 points, charged me $1200 BUT my balance went from $108000 to $116000, and to make it worse my payment only dropped about $65.00 because the principal balance is higher than before. I paid her but I told her that I was very upset because when I went with her she told me she would remove the 6 months that I did not pay. I was never informed that it would made my debt bigger and also she said that my payments would be much less. What can I do about this?

3 weeks ago - 2 answers

Best Answer

Chosen by Asker

You didn't need any kind of agent to do this. You could have called your lender yourself. Not paying your rent for 6 months was a very bad idea, and just added that principal, interest and late fees back into your mortgage. That's why the balance went up. She was shady, but you have to look out for yourself too. I don't think there's much you can do about it, unless it's not allowed in your state for a real estate agent to be involved in loan modification. You might call the Real Estate Board, or local Board of Realtors, if she's a member. You could call her broker. I don't think there's anything you can do to fix it, or to make you whole, because you agreed to what she said. She's not the lender, so I don't know what she could have done to "remove the 6 months" you didn't pay.

by daeve930

3 weeks ago

Asker's Rating: 

Other Answers

You were informed, you just didn't read the paperwork you signed. Nothing you can do.

by Common Sense- 3 weeks ago

Nothing

by My Take on It- 3 weeks ago