They did the same to us! They set up an escrow account so that we could qualify for a modification through Hope Now or one of the help for homeowners programs. They had us send them all our financial documents to qualify for the modification. They now knew what we made, what we had saved, and of course; what we could not afford. The next thing we know is our next statement has $855.34 tacked on each month as an escrow. Our total payment went from $1, 166.75 to $2, 022.09! Of course we could not afford it. The escrow amount added up to $10, 264.08 a year . How can that be when yearly taxes are only $3346.68? They seriously overpadded it. That is highly illegal! Furtermore, they claimed to have paid our homeowners, they have not. Every month we pay it automatically from our checking. We had our Farmer's agent verify it three times. Wilshire never called that company not even once! Thank God we paid that. Now, according to the Real Estate Settlement Procedures Act, better known as RESPA, under section 10 of that act the amounts of an escrow account are limited. The maximum amount can not exceed yearly taxes and insurance-for us our taxes, plus an additional 1/6th of that total. That would mean that my escrow should have been $3346.68 +$522.78=$3869.46. Big difference from the $10, 264.08 they so fraudulently "figured."
So, we called them, many, many times. They told us they were looking into it and that as long as we paid what we could- still more than before the fraudulent escrow, the house would not go into foreclosure. They said they would get back to us in 45 days. They did not!
We called again when our payments were no longer being accepted and they told us we didn't qualify for a modification. Also, they sent back our last payment because it was not in full. On 11/23/09 we were sent foreclosure papers from their lawyers- ORLANS. We called and they said we owed 4 months! Not even true! And they tacked on legal fees to boot. We sent them a cease and desist letter for the illegal escrow and they sent us a letter back saying they would consider it within 60 days! I hate them. We now have our own lawyer and a housing counselor. Neither have good things to say about Wilshire. I hate them and I will bring them down- even if I lose my home in the progress! I am already broke, and potentially homeless by February 23; I have nothing to lose. I wrote letters to everyone, including the FTC and the MI states attorney general Mike Cox. I am awaiting a meeting with my state rep. Fred Uopton. I have sent all my copied paperwork to the local news agencies. Who else can I talk too?
Also- to those of you complaining of Wilshire's harrassment- I have had just the opposite! They never called us. They barely respond in writing!
How can they do this to people who are actually paying their mortgage? How much money did they get to partner with the new government programs?
Does anyone want to start/join a class action lawsuit against them?