V8 Beast Posted November 7, 2009 Report Share Posted November 7, 2009 Earlier this year my wife was let go from her job at a dental office making $19 an hour because it felt the strain from the economy. Considering it would make things tight and I paid for the lost job help on my mortgage I called and asked for help. They told me dont worry about paying and they would call me in about 4 months to check on my situation. 4 months later my wife had found a new job and was let go a month later for the same reason. I told them that she still didnt have a job so they offered a $75 a month payment for a few more month then would call again later. I signed the form they sent me and things were good (so I thought). Since then my wife got a job at a call center and we are back to full payments on the mortgage. Here's the part where I'm an idiot. What they did for me had nothing to do with the lost job insurance... the rep basically had me go past due so that they could make me offers to avoid foreclosure. I grabed the papers I signed and sure enough in the small print it said it would impact my credit. As someone who always reads the fine print I'm pissed at myself. Going to try and find a new car and find that my credit score is over 150 points lower than it was 9 months ago I have the cash to make up for the lost credit (we all know money talks, just waiting on a bonus check) so its not a problem... but it pisses me off that I just fucked up 10 years of building good credit by trusting what a cusotmer service rep said.. of all people you would think I would know better. I dont really need my credit right now because I'm established with my house and everything, but getting a car is going to be harder now for no reason at all. I had the money to pay for the house, I just wanted to use the help I paid for at closing.... fml Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted November 7, 2009 Report Share Posted November 7, 2009 Damn that's shady of them, my dad always told me make sure you read the fine print, because there is always someone trying to hustle you. Hope you get everything worked out man. Quote Link to comment Share on other sites More sharing options...
Alex1647545498 Posted November 7, 2009 Report Share Posted November 7, 2009 Wow. So the job lost insurance is crap? That's messed up! Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted November 7, 2009 Author Report Share Posted November 7, 2009 Damn that's shady of them, my dad always told me make sure you read the fine print, because there is always someone trying to hustle you. Hope you get everything worked out man. Not shady, just a rep that probably was so used to dealing with people not paying their bills that the right option wasnt used. Cant blame it all on them. Wow. So the job lost insurance is crap? That's messed up! Its not crap. I never used it. The rep didnt do her job right, and I signed paperwork that validated it. All my fault for not double checking Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted November 7, 2009 Report Share Posted November 7, 2009 Its not crap. I never used it. The rep didnt do her job right, and I signed paperwork that validated it. All my fault for not double checking Is that still legal even you did not really know? I mean is this going to be able to be fixed? Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted November 7, 2009 Report Share Posted November 7, 2009 Yep never trust anyone.....any chance of explaining and maybe having them make things right? I know you signed but worth a try. Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted November 7, 2009 Author Report Share Posted November 7, 2009 Is that still legal even you did not really know? I mean is this going to be able to be fixed? Yeah its legal.. just miscommunication. The only argument I even have is for them to adjust the first 4 months. After that I signed the paperwork. I'm working with them, but I dont expect them to change anything. I've worked in a call center for 10 years and have dealt with contract disputes and everything caused by typical call center crap.. Here I go signing something after only reading half of it. *Place beat head on wall smiley here* Quote Link to comment Share on other sites More sharing options...
Billiumss Posted November 7, 2009 Report Share Posted November 7, 2009 I'm on a forbearance payment plan with my mortgage company so I didn't have to go into any kind of foreclosure since I'm unemployed. My new payment is about half what it was. Once I'm back on my feet, I have to pay back all that was missed. According to them I will take a neutral hit on my credit score since I am on a payment plan. Going into a payment plan with a VERY high credit score and never late on payments helps my situation. Good luck and hope it all works out well for you guys. Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted November 7, 2009 Author Report Share Posted November 7, 2009 I'm on a forbearance payment plan with my mortgage company so I didn't have to go into any kind of foreclosure since I'm unemployed. My new payment is about half what it was. Once I'm back on my feet, I have to pay back all that was missed. According to them I will take a neutral hit on my credit score since I am on a payment plan. Going into a payment plan with a VERY high credit score and never late on payments helps my situation. Good luck and hope it all works out well for you guys. Thats what I thought I was doing (what I should have been doing). Instead of it being neutral it turned negative after 3 months. Thanks, other than replacing the envoy I dont see it hurting me too much. Quote Link to comment Share on other sites More sharing options...
Rustlestiltskin Posted November 8, 2009 Report Share Posted November 8, 2009 damn brian u got hosed. sorry to hear that you didn't catch the fine print. Life lesson is learned. Quote Link to comment Share on other sites More sharing options...
Mattsv8 Posted November 8, 2009 Report Share Posted November 8, 2009 i always thought you should not pay lesser bills and not be late on house payments. being as they are a larger dollar amount. but still sucks either way. Quote Link to comment Share on other sites More sharing options...
RangerTurbo Posted November 8, 2009 Report Share Posted November 8, 2009 Damn, that sucks. But my credit score is maxed and can't go any higher. Maybe I should do what you did so I can then get a sense of accomplishment by watching my credit score rise again. :nutkick: Quote Link to comment Share on other sites More sharing options...
NOS50 Posted November 8, 2009 Report Share Posted November 8, 2009 I had a guy call me telling me he could get me a ridiculously low interest rate because of some new Govt. program.I said keep talking he said are you current on your mortgage I said yes.He said stop making your house payment then and put the money in the bank.In 3 monthe we can file some Govt papers they'll drastically lower my interest o n my loan and I can take the money out of the bank and get caught up.I said are you crazy and hung up.He also said they would do this for a small fee.WTF! I also have a buddy that had congestive heart failure and was going to be on disability for a while after he gotmaker and difibulator(sp).He called his mortgage company to try to make some kind of payment arrangements and they told him since he was currnet they couldn't help him.They said to call back in 3 months when he was in jeopardy of foreclosure and they would help him! Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted November 8, 2009 Author Report Share Posted November 8, 2009 I had a guy call me telling me he could get me a ridiculously low interest rate because of some new Govt. program.I said keep talking he said are you current on your mortgage I said yes.He said stop making your house payment then and put the money in the bank.In 3 monthe we can file some Govt papers they'll drastically lower my interest o n my loan and I can take the money out of the bank and get caught up.I said are you crazy and hung up.He also said they would do this for a small fee.WTF! I also have a buddy that had congestive heart failure and was going to be on disability for a while after he gotmaker and difibulator(sp).He called his mortgage company to try to make some kind of payment arrangements and they told him since he was currnet they couldn't help him.They said to call back in 3 months when he was in jeopardy of foreclosure and they would help him! Thats pretty much what they did to me, but without specifically telling me. I did get my interest rates lowered after I called and asked if there was anything they could do because of the mistake. Taxes raised my mortgage by $150 over the last 5 years.. I'm back to what it was originally. I guess there is one good thing that came from it. i always thought you should not pay lesser bills and not be late on house payments. being as they are a larger dollar amount. but still sucks either way. There are specific options offered at signing to help with loss of jobs, death, etc. I paid for it, why not use it?? Especially with temporarily losing $2000 in income. Theres a big difference between being late and having deferred payments. My wife works with me now so we dont have to worry about her getting laid off for a while. Quote Link to comment Share on other sites More sharing options...
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