I have long been an advocate of homeownership for the right people. In examining the current real estate crisis, it is evident that many people should not have qualified for the loans they were given, however the lenders continue to lie, cheat and steal the homes away from homeowners. The lenders were bailed out using the very tax dollars collected by struggling homeowners. Where is the bailout for the homeowner? After six months of research and due diligence, I have found a reputable law firm that gets the job done. Following is a personal experience submitted by John and Theresa Rockwell who were brought to the brink of foreclosure only to have their home saved by the Krup and Associates.
It took a year of frustration with Bank of America before I realized that the lenders had no intention of helping me. I purchased my home in July of 2006 and received an 80/20 loan from Countrywide. After making payments on the loan for two and one half years on time even as the economy continued to decline, my husband abruptly lost his job when his department was shipped overseas. Fortunately we had some savings and figured we could ride it out until he picked up another job. After six months without work, we turned to the bank for help. When we first contacted the bank, we were told we would qualify for their in house programs and we were sent paperwork to execute. At this point we were on time with our payment and were extremely happy with the bank's quick movements. We had no idea what we were in for. We quickly turned in our paperwork and were put into a trial modification. The stipulations were that we had to make 3 payments on time and then we would be approved for a permanent modification.
We made all three payments and attempted to call the bank to check on the permanent modification. We were frequently told that the process was still under review and that everything looked like it would be approved. We made the trial modification payment for another six months on time. Then after nine months of on time trial payments, we received a notice in the mail that our property was in foreclosure!!! FORECLOSURE!!! This has to be a mistake we thought. We frantically tried to get an explanation to this on the phone and were told that it was a mistake and it would be corrected.
As we pieced together the specifics we noticed that the arrears amount Bank of America was asking for was the equivalent of the difference between our original payment and our trial modification payment. The bank never informed us that our trial payment was not being counted in full and now was demanding the full arrears amount. Even worse, during our next conversation with Bank of America, we were informed unless we paid the full arrears amount, our property was to be sold within 45 days! We had no where to go and no idea what to do! My husband and I were an emotional mess and tried to conceal this fact from our two children and our families.
One day I mentioned my situation to a co-worker at my place of employment and she told me about a similar situation that she had gone through and a law firm called the Krup and Associates that had helped her stave off foreclosure. I didn't wait one moment and gave them a call. Immediately they struck me as having a keen knowledge of the law. They made it very clear that the lender was not trying to help me rather trying to make as much as possible, which is something that I never thought about. I had to get something started and because my friend had referred it and the comfort level I felt, I signed up immediately on the phone. They made it very clear to me that I did not have to pay anything if my case was not accepted by the firm and that they would do a very rigorous due diligence review to determine the strength of my case. They also had a policy of making payments throughout the length of the modification with the final payment at the end which was very comforting to me.
When I arrived home, I informed my husband who was 100% supportive of my decision and we waited the 24 hours until the review was complete by the law firm. They called as promised the next day and broke down the specifics of my case with the expectations that I should expect. I was issued a custom checklist of documents to return to them which I did within about 72 hours. Within 7 days, they had filed a modification case with Bank of America and I was informed that my home would not be going to a sheriff sale! This was relieving in itself!
For the last 14 months I suffered from frustration, panic attacks and depression in trying to save my home whereas now I could spend my time with my family in our home frequently receiving updates about the progress. I only had to give documents to the firm one time and there was always somebody available via email or phone if I needed something. 142 days after I retained the firm, I was placed into a permanent loan modification. 100% of my arrears were rolled into the back of the loan and my interest rate was reduced to 2% for the first 5 years, 3% for the next 3 years and 4.5% for the rest of the term. This had a tremendous effect on monthly payment. I will always be extremely grateful.
Just 150 days prior to hiring the Krup and Associates, my life was in disarray and I was at the brink of losing my home. Today, we are more than back on track and the last thing on our minds is losing our home. I want to give a special thanks to Krup and Associates for everything that they have done for our family. I recommend the Law Firm wholeheartedly because the Krup and Associates is not a scam. They will change your life.
Theresa and John Rockwell, and the kids!