Posted on 06/25/2021 11:20:05 PM PDT by eastexsteve
"I'm the government, and I'm here to help you." I know it's a youtube video, but if you are on covid forbearance, you have to see this. What happened to these people is unbelievable!
She yammers so much I wish she’d get to the point. It’s over 30 minutes but probably could’ve been 10. I’ll try and finish it later.
Can someone summerize later? TIA
They sold their home in a reverse mortgage. What i don’t understand is why would they sign something they didn’t read?
Bottom line for this video is that this couple does not have the mental capability to live by themselves. They should have stayed in their parent’s basement apartment.
Exactly how would they have been able to live in an RV for a year when the only money they thought they had was the equity in the house they sold?
Not only does this couple have mental deficiencies but they are telling the world how stupid they are.
Sold their home in a reverse mortgage? A mortgage is a loan.
Yeah it’s like taking out a very large second on the house.
Which they don’t plan pay back IE: sold.
What in the hell is ‘covid forbearance’? More communism and lies get injected into language every single day, I guess.
The problem was they trusted the mortgage company when they told them is was just a refinance. The mortgage company lied to them and sold part of their principal to a third party lender. That way, it didn't show up on their credit report. But, the REAL problem happened when the mortgage company put them on the covid forbearance program. This government program is supposed to cover your payments if you are affected by the pandemic. Instead, their "covered payments" were treated as missed payments and it trashed their credit.
If you listen to the video, they have income. And, it's possible they could also just work remotely. Many companies have gone remote and discovered that it is much cheaper to do so, and they won't ever go back to a brick and mortar office.
“What happened to these people is unbelievable!”
What happened?
Listening to the first 10 minutes they didn’t lose $135k and didn’t lose their RV.
“Exactly how would they have been able to live in an RV for a year when the only money they thought they had was the equity in the house they sold?”
Youtube clicks?
“The problem was they trusted the mortgage company when they told them is was just a refinance. The mortgage company lied to them and sold part of their principal to a third party lender”
How do you know the mortgage company lied? Were you there?
Have you seen the contract.
“They sold their home in a reverse mortgage.”
Reverse mortgages don’t have payments.
How do you know they didn't? I've caught a mortgage company lying before.
Sure they do. They just aren't required.
The good news is, they found an apartment right away. Good luck finding one in my neck of the woods.
They were sold an 80 15 5 refi which gets rid of PMI... the second lien holder couldn’t bill them during covid, but came for the balance when they sold the house. Apparently they forgot about the 2nd lien and are too dumb to know that they are off by 135k on the payoff and made a plan to live in an RV with that money.
“How do you know they didn’t? I’ve caught a mortgage company lying before.”
I Don’t but I took no position. You did WITHOUT knowing.
See the difference?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.