We need to know a few things first. I'm sorry I'm not familiar with your posts.
I know there are a couple of people using the same name "HELP".
it is very hard to distinguish between the two.
Please, tell us why you are here:
1. Are you a TRUE victim of fraud?We stated out with Argent Mortgage/AMC Servicer. Then transferred to Homeq. Do not know who holds the note, county has no record of any assigns.Still shows Argent? Homeq has given us 3 different names now, none of them have record of our note.I am not an attorney so I am not sure what to look for.It wasn't until our foreclosure that I began researching our loan docs.There is incorrect information in our loan docs such as , Wrong legal description of our property, wrong SS#, we also noticed that they have a higher income for my hubby . We are in an 2/28 arm loan, we were told it would adjust every 12 months. Wrong, it adjusts every 6 months. Title was filed incorrectly.We did not receive any booklet about our arm.Homeq has refused to work anything out with us. We can come up with the back payment, but not the attorney fees they have added on. They wanted the full amount to reinstate. We are working with HOPE counselors, it wasn't until she called that they offered us a forbearance plan?
2. Can you PROVE this?
If those two answers are yes, I say you do not want to sign a FORBEARANCE agreement ever.
A forbearance agreement, basically says, the Servicer will make a New start/ Fresh start with your account .
Do they really? bwahahahah! That answer is NO.
They will find some way of tacking/adding in fees from "before" the agreement.
****WHAT YOU SHOULD KNOW, IS A FORBEARANCE AGREEMENT IS DESIGNED TO PROTECT THE SERVICER*****
It has been said, that if you sign a Forbearance agreement, that any previous wrongdoing, on their part; or any illicit fees on their part, cannot and will not be held accountable by the Servicer in a court of law.
Once you sign the agreement, that's it........ You cannot back track and try to recollect fees they charged you for.
IF YOU SIGN THE FORBEARANCE AGREEMENT, you will still continue to suffer at the hands of this SERVICER.
You should also know that this will help you somewhat with the stopping of the Foreclosure:
1. But keep in mind, the mortgage company can come back a few months later and try to take your home away again. BUTT.........THEY WILL HAVE TO DO IT THROUGH THE BANKRUPTCY COURTS, and you will be notified, so you will be present, to provide all the documents for the Bankruptcy Judge to see, and they will keep the Servicer at bay. (if they follow the correct procedures of the law.)
2. Bankruptcy will reflect your credit for at least 7 years. During bankruptcy, you are not allowed to use credit cards, or incur further interest bearing debt.
Examples would be buying a new car.... You are not allowed to do this unless you have permission by the Courts. It's a pretty simple step to take, and doesn't cost any money. It's as easy as calling your attorney.
3. Can you buy, sell, or refinance your home while in Bankruptcy? I don't know those answers.
But chances are, that your credit is already harmed by inaccurate reporting of the Servicer. (which is done intentionally.)
If they have ruined your credit, and it's already shot, and leaves you without the possibility to "immediately" refinance, then I say your best bet at this moment is to highly consider the Chapter 13 Bankruptcy.
This is not legal advice at all. You should contact A Bankruptcy Attorney, and ask them some questions.
Write all your questions down before calling.
It would only help you to be more informed of how you are going to handle one of life's most stressful situations.
Check this post, for the ideas and suggestions, of some of the others.
and Keep us posted.