Local Homeowners Get Real Help after Getting the "Runaround"

Tania and her husband Larry had heard about NeighborWorks^® Waco’s Foreclosure Counseling through local ads and word-of-mouth.  “Of course, we never thought we’d need it,” says Larry.

When Larry began to have unexpected health problems in late 2007, his reduction in income led to falling behind on mortgage payments on their home which Tania had lived in since her early 20’s.  Tania explains the experience of calling their lender:

“Every time [Larry] would speak with them, they would give him someone else to talk to - then they would transfer him to someone else, and then someone else.  Each phone call it was a different person, a different number, a different answer.  And the questions were always the same.  At many points they assured us that everything was taken care of.”

But unfortunately it wasn’t.  Despite being told that their mortgage loan was being modified to accommodate the crisis, Larry and Tania found their lender demanding that they make a payment of $1800 dollars to finalize the modification agreement.  When they successfully made the payment, it was returned and the foreclosure notices began to appear in the mailbox.

“I broke down,” Tania says.  “We had done everything they asked us to do.”  Bewildered, they turned to NeighborWorks^® Waco for help.  After taking over the negotiation process, NeighborWorks^® Waco got the foreclosure proceedings stopped and a new modification that re-amortized Tania and Larry’s arrearage and fixed their 30-year interest rate at 5.25 percent.

If you or someone you know is having difficulty making the mortgage payment, call NeighborWorks^® Waco today.  Trained counselors are available to help you avoid foreclosure and get you back on track.