I am desperately trying to save my home from foreclosure and know what options are available.
I am a first time homeowner and I purchased my home in North Little Rock in 2006.I purchased the home for $135,000 at an adjustable rate (I was led to believe it was a fixed rate) and my monthly note was around $1200 a month.
I made my payments on time. Around January, 2008 my original mortgage company (First Franklin) unbeknownst to me sold my mortgage to American Servicing Company (a subsidiary of Wells Financial Mortgage) and my note went up to around $1500.00 a month.
Around May of this year my wife and I both lost our jobs and we fell behind on our mortgage. I tried countless times to contact the mortgage company for assistance and got absolutely nowhere with them.
After months of no response from my mortgage company I received some assistance with counseling from the FHA. The mortgage company stated then that they would reset my loan if I paid a $ 2000 gratuity fee on September 15, 2008 and resume my house note on October 8, 2008 ( at an increased rate). I signed the agreement and when I called to make the payment ( on September 15)the mortgage company told me my account was closed (on September 13) and for me not to make the payment until they corrected the error on their end.
I cannot get a straight answer from this company and I need help. My wife and I both have jobs now and would like to keep our house but no one will refinance us because of the credit damage from this mortgage.