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Tuesday, October 30, 2012 - 5:36 PM

Flagstar Bank Has No Compassion

Flagstar Bank (1 stars)
Flagstar Bank is justly being sued by Attorney General for selling toxic loans to GFE's. They are aware my loan is toxic and have admitted in writing the error occured during origination, my home seller bank is also being sued. Yet I have been trying to get Flagstar to restructure my toxic loan for several years. They only offer modify which is not the solution for my issue. Many mortgage industry employees don't know there is a major difference between the two. Modification is not a one size fits all. Restructure allows buyer to go back to the origination process and verify if loan was fraudulent. It also allows for interest and principle reduction to occur, its not based on income, or financial hardship, credit history is also not a factor. I am not sure if Flagstar employees are aware of restructure quidelines or just don't care. When asked for restructure they refer me to investor Freddie Mac, who then refers me back to Flagstar.
4
TRISHTRISH1 posts since
Oct 30, 2012
Rep Points: 4
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