TR in Michigan said: “I obtained a loan from HFC on a refinance of a really inexpensive home at the age of 23. During that time I was approved for another refi and then I relocated to another city. I had two weeks to relocate so I rented my residence to someone I knew and trusted and was just breaking even.
My tenant expressed interest in the property and applied for loans often but due to credit contrainst was unable to obtain financing. After 4 years of late payments, my tent stopped paying; and then the delinquent calls began. I was approved for a loan modification which decreased my mortgage payments, only I am unable to afford them.
I put the home up “For Sale by Owner” and had 2 people interested. One of the interested parties states they were told to wait until the bank gets the property; the other, was asking price too high due to the condition. When I spoke with HFC, they state no one called. Now I’m getting the garnishment calls. I will admit I played a HUGE part in all of this not to protect my interest better.
I will tell anyone preparing to buy a house to know exactly what a responsibility in upkeep financially and physical appearance, and also who you are dealing with as far as lender.
It has truly been a nightmare dealing with HFC!”
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