I have a home that WAS paid for. Since my husband and I have an empty nest, my health is deteriorating rather quickly and I have been on disability, we decided to take out a loan on our home, purchase a motorhome and just rent our home out as this was going to be the MAIN way of paying the mortgage payments. This was explained in length to the lender approximately one year ago. We got the loan, bought a motorhome and drove over 2000 miles back home. We received our “mortgage papers” in the mail while we were gone. As I read some of the “fine print” it said that our home HAD to be “OWNER OCCUPIED” (and they would at times come to inspect the property AND owner occupation)… Now that it has been a little over a year and we found ourselves stuck without being able to “rent out”, we are 4 months behind on our payments (& cannot get the mortgage company to return calls to take advantage or the home retention program…phone tag) yet when I called and spoke to “someone” in the collection department and told him of our situation and how we had “planned” all of this out, the gentleman put me on hold for a few minutes, came back and said that he DID NOT see anywhere in the contract that we COULD NOT rent the home out! We have been making payments for almost a year and NOW they change the contract and that is exactly what put us behind in the first place…Where do I legally stand as to this “change of heart/contract” with this mortgage company as I do not know what they are going to do?
The “paperwork” that was signed did NOT have anything in it about owner occupation, it was in a “booklet” after the fact. Also, the motorhome is a class “c” and is considered a 2nd “home”…& because of my disability, a “small” home is definitely not a “toy”.
I also have stents in my arteries and heart. I need a $ 250,000 loan insurance gain 30YR. Our house had originally paid and I (the house was in my own name, not my husband) took $ 130,000 mortgage to finance their daughters in a business that failed. I thought I did not need the [...]
I wrote before my husband slept with the woman next opportunity, when he helped her with odd jobs (lol) and listening to their problems. We celebrate our 25th anniversary, a cruise, the direction of our mind tries to Veer. We are now in travel, spend time with a regular income. The children are grown, we [...]
I need about $ 3000 to get out of debt. I just paid the $ 3,000 loan, because right now I’m paying hundreds of dollars in interst every two weeks on payday loans and I’m never going to make them pay and I can not pay my mortgage or other bills and I pay for [...]
Ok, here’s my business. I recently stopped working a year ago and have stayed at home with my children. My youngest child starts school in about a year and I want to return to work. I have been in the mortgage industry and made $ 16/hr. I do not want to return to the industry. [...]
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