The Florida Attorney General, Bill McCollum, who is also running for Florida governor, is now getting involved in the abysmal mortgage crisis in Florida. I can recount story after story of fearful homeowners who have told me their lenders would do nothing to help them save their homes. These borrowers cannot crack through the mortgage system for any intelligent discussion and solution to their personal mortgage crisis .
Apparently, Attorney General McCollum has heard the same cries. Yesterday he issued a press release and copy of letters he sent to the major mortgage servicers.
McCollum cites poor treatment and no assistance to Florida homeowners unable to pay their mortgage and facing foreclosure. He has written letters to executives of Bank of America, JP Morgan/Chase, Wells Fargo and Wachovia. Specifically, McCollum states Florida borrowers are:
· Placed on hold for excessive periods when calling for help
· Transferred from department to department and person to person
· Forced to submit identical paperwork again and again
· Forced to speak to unknowledgeable representatives
· Never informed about the status of their loan modifications
· Provided no avenue for complaints
Bill McCollum says these practices are “irresponsible and unacceptable”.
All I can say, is, “Hurrah, Bill!” Thank you for taking a stand with these monstrous corporations. As a Destin short sale specialist, I deal with them every day. There is no such thing as customer service and courtesy anymore. As you say, the tone is quite different from when these lenders originated these very loans.
I hope your letter brings pause, attention and ACTION from these corporations who are forcing borrowers into foreclosure.
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: [email protected]