We’ve all done stupid. I’m 59 and have worked all my life My net worth is like $0. So I’ve done stupid on steroids. We all have. I retired from the state of California and three weeks later my landlord Said she was gonna double my rent So one week later I moved to Texas and bought my 400sq ft home cash For $23k. Now I’m building my savings. Don’t give up “If u fall 100x a day, u get up again.” - St Therese
Sadly, many people did not learn the lesson, “If you can’t say something nice, don’t talk at all”. Sorry this happened to you. Hope you get to make your dreams come true soon.
I am so saddened by people trolling you. I think you are hero’s for telling this story. I truly felt the intent of helping people in the last video. In this past year 2020, we got a new job, moved across the country, bought a house, tried to sell a house, also took the forbearance, and also had a HELOC on the first house. listening to your story my thought are dread, and sadness for you. We got lucky and it mostly worked out... but this aspect of this year has been nothing but disappointment and hardship. Prayers for you both. I love RV life vids, and now I am invested in your story... so much love and luck to you both ❤️🙏❤️
Well, your payments went to interest. The first 10-15 years of a 30 year fixed you are paying mostly interest and very little principal and you don’t really start making a dent in the principal unless you make extra payments towards the principal. It’s confusing but if you (or anyone reading this)don’t understand, google an amortization schedule and plug your numbers in. You’ll be shocked how little equity you have after 5 years. When you sell your house, you are generally responsible for closing costs and most of the realtors fees, so you likely lost a large chunk there. You also added a refi on top of that and rolled the cost of the refi into your loan so there’s more lost equity that you were counting on. Then the “missed” payments and the forbearance so that interest keeps piling up and any payments after pay that interest before going to the principal. I hope that you do manage to get some of that money you were expecting, but you may want to brace yourselves for it to be much less than you are hoping for. Good luck.
That is true. Five years is not much time on a 30 year loan. I sounded like $135,000 was taken off the principle and placed in another loan where the interest owed just accumulated until the first mortgage was paid off or only a interest payment was made. If that is the case how does anyone ever get out from under that. I would really like to hear the details of what happened.
Oh and for the trolls. Anybody can get drawn into this. Banks and finance companies are in it to make money and they have sneaky ways to make anything sound good. Many people are not familiar with how lending works and can easily become a victim. So don't be so ready to judge somebody it can happen to you. Moral of the story read and re-read what you sign. Check the numbers. Money you borrowed does not just go away.
Most of these comments are from sad people with sad lives. Demeaning others is easier than working to make themselves happy. If you can handle the vitriol, the comments are funny but otherwise they're not worth reading. Anyway, you guys seem to be taking this in stride. What else can you do? Stay positive and you'll get out on the road. Later!
I appreciate good decent people like you. Your not lawyers big companies take advantage of good people all the time, pay the idiots no mind keep moving forward. I hope things turn around in your favor. Stoney
Dealing with trolls and haters is the hardest part of having a youtube channel. Look at the bright side of it, if they commented it is because they saw your video, so it means it was interesting. This is how I think with my channel. Good luck and be assured that you did not do anything wrong, you are the victims, period!.
It's true, you know your channel is doing well when you start getting hate comments, and you're youtube famous when the death threats start rolling in.
Or demoneytise you. Most of the trolls are just looking for someome to dump on, hence Troll, just ignore them, best cure is silence and stop giving them 0xygen.
I don't think it's difficult. I think it's kind of funny to see that some people have nothing better to do than troll people. It certainly says FAR more about them than the people they are trolling. It's kinda sad too, for the trolls. Reminds me of high school. I feel sorry for them in a way. They must be miserable. Some of the troll comments, you've got to admit, are pretty funny. The "Karma" one was hysterically funny! Did the person saying that not realize that they might have "Karma" from their comment? You've gotta admit that's pretty funny! Bizarre, but funny!
My daughter luckily only lost out of 20,000 that she didnt know about till they gave her the check. Was told one thing when buying and something different when she sold...DIDNT SHOW UP ON HER TITLE SEARCH EITHER IN WASHINGTON STATE!!! BLESS YOU GUYS AND TROLLS just need to be ignored.
I have just found you and am shocked at your story. Thankyou for sharing so much detail. You have probably helped many people with your openness. I look forward to following your journey. 🐨
You have an incredibly strong and giving and caring ability to help others in the midst of tragedy; very generous and I truly hope it works out for you soon. Prayers!
So very glad you shared. My husband looking at our mortgage, Thank you, husband and I are dreaming of the open road in an RV. You two are amazing and very brave 💐
I listened to your first video telling about the horrific things your mortgage company did to you. I appreciate y’all putting yourselves out there to let others maybe learn from what you went through. My husband and I experienced very similar things. We are 63 and 64 years old and lived in our home for 32 years and we were in foreclosure and we weren’t told till we sold our house and we win closing of the paper work. We didn’t get much of anything like we were expecting and were shocked. We are now living with our kids till we get back on our feet. We are very blessed and thankful because so many end of homeless and no where to go. I pray miraculous miracles in your life. We knew God was with us all through it all so we didn’t let it get us down. Blessings to your family!
I don't understand. If you house was paid off....32 years should be paid off.....you would own free and clear. Did you miss payments somewhere in the 32 years? You weren't told you were in foreclosure until you sold the house?
Clearing $110K from the sell of a home for $180K more than the purchase price just five years earlier is quite reasonable. If a home is purchased for $750K with a typical 30-yr conventional loan, the outstanding principle will not have decreased significantly in five years (look at the loan’s amortization table). And if it is refinanced during that five years, then the principal probably will not have decreased at all. If the sell is done using a conventional realtor, by the time you pay for any repairs, the realtor's commission, and possibly the buyers title insurance and any inducement points or closing costs, then one would be lucky to clear $110. Buying and selling a home is expensive and is usually a money losing exercise if only there five years.
Right I am thinking what about fees? It is expensive to sell a house. In five years very little principle is paid off. Was $180,000 after the fees or before?
Tina Aurand Tax free exemption of $500k (for a couple) capital gain on principal residence, assuming lived in the home for 2 years or more in the past 5 years. So, no $180k gain is not taxable.
Just started following you a couple of weeks ago, and I’m so appreciative of your transparency in all of this. My husband was just laid off today, following a 35-year career at WDW in Florida. We are still planning to sell/give away everything and go full-time in an RV next year! Praying that you’ll find some answers through the legal system. You are strong, and clearly committed to each other ❤️ “Just keep swimming”!
I don’t recommend it. You tube glamorizes it. I’ve probably lost over 40000.00. Rv’s are a depreciating asset and need yearly maintenance or they will not last.
Assuming your loan was amortized for 30 years if you look at an amortization table you will see that the first five years of payments are mostly interest with very little principal reduction. You were basically paying rent on the use of the money for the first five years. If your payments were escrowed meaning the payment included taxes and insurance then neither the Taxes or insurance portion of your payment (as well as any HOA monthly payments) reduce your principal owing.
@@rosennate I think people would understand it more if we knew their purchase and now sold price.Though I can understand them not wanting to share that info. That is a huge profit for five years.
People are nasty when they don’t have to face people when they say their mean comments. I am impressed by your attitude and how you are dealing with what had to have been incredibly hard. Looking forward to continuing to watch your journey. 👍🏻
I am SO sorry you have to deal with this s$#t. You work hard and do what you think is right and some slickster comes along and screws you. You guys are doing a public service by sharing your story. It takes guts! Thoughts and prayers for you guys. I'd be willing to bet that you will get on track!!
You guys are not “dumb” it’s a testament to the fact that crappy things happen to good people. Your video made me think about combining through things and making sure we are where we think we are. Keep up the great channel!
YOU ARE NOT STUPID! This could have happen to any of us. Thank you, Thank you, Thank you, for sharing your story. We did not do a forbearance on our house but we did on our car loan. Because of your story I immediately asked my husband to check our credit report. The car forbearance did not show up.....but our credit score has dropped and we don’t know why. We are checking into it. When I shared your story with my husband, he said oh my word that could have been us! We trust our mortgage company just like you did ( my husband is 3 credits away from a PHD) not a stupid person! I believe you will come through this hard time even stronger than you where before! I know you have already helped so many people. We don’t always know what God is doing behind the scenes.....I believe he is working on your behalf. Praying for you. People are just mean!! Please don’t let them get to you😀
Thank you for sharing the info! So sorry things didn't work out for you. You are both being so positive and helpful! And thank you for blessing others with stuff you no longer wanted or needed. I'm sleeping on a bed given to me after a fire, and am so very grateful for it!
Have your attorney look into federal mortgage fraud, I have owned several homes and have not heard of a lender stealing your principle by supposedly selling it. I am not an attorney but it appears to me that your lender stole the money which is mortgage fraud. Usually a lender has to clearly spell out the terms of the loan and can not sell a portion without notifying you of the sale. Each state may have different laws regarding this though. You might also want to have your attorney check with the attorney that processed your loan, I believe different states require attorneys to process the loans. If the attorney was in on the theft he/she could be disbarred. If your attorney has OKed you saying who the lender is by name then you should also put the word out with all social medial warning others about this companies fraud so that others do not suffer UN-needlesly.
This was probably not a conforming mortgage (i.e., not covered by federal underwriting standards). I say that because most property in CA is too expensive to finance with a conforming mortgage unless you have $$$ to put down yourself. As for lender stealing money, if that was the case, it would be a slam dunk, as they received part of the payment at closing. So they would have been stealing from the borrower, not the second lender. What probably happened is that the title company screwed up, went off the lien, got a payoff amount from the first lender, failed to realize there was a second lender, and there was boilerplate language "catch all" in the escrow instructions that allowed them to just tack on the second lenders repayment after the closing... which boilerplate would have also allowed them to be sloppy prior to the closing about getting the numbers right.
Possibly. You have to be wary that they will take it expecting to put in minimal work. Just as bad as a lawyer who sends a big bill for a little settlement is the lawyer who expects to spend a couple hours on the phone and get you a few bucks when in fact you are giving up a strong claim, but one that will require long hours and going to trial -- something a lot of independent lawyers don't want the hassle of anymore or can't make work economically given their business model (i.e., claim and settle, rinse, repeat).
Many take 30-60% or so of whatever they recover. I'd ask them to go after attorneys' fees, AND ask for the lawyer's fees and punitive damages, as they lied as well.
I watched the previous video and was stunned at how a mortgage company could be so dishonest and do that to you. You clearly are a “smart” and generous couple and got taken advantage of. Ignore the trolls as much as you can but, still, their comments can be very hurtful. Sadly they don’t care … Good luck in your pursuit to make those who did this to you accountable.
Since you didn't get any closing paperwork until after closing, I'm still confused that you thought the amount would be $135k more. A 30 year mortgage will go down very little over 5 years since most goes to interest and the refi added additional costs. The one silver lining on this is that it stopped you from buying a RV that would depreciation significantly over the first few years. I would strongly encourage you to consider a nice used travel trailer. A new Class A motor home can easily drop 50% in the first five years. Start small. Start used. You can always upgrade down the road after you know what floor plan and features work best for you two. Over spending on an RV that you don't won't in a few years can be a really costly mistake. It is not uncommon for people that have lived in a home for 20 or 30 years to buy 2 or 3 rvs in the first five years trying to find the right unit for their needs. Good luck.
I believe the comparison is the amount they owed versus the amount they sold it for hence, PROCEEDS of 135K is what they lost had not the Mortgage company sold it to a third party unbeknownst to them.
Steve Royer we didn’t pay closing costs, the escrow company sent us the totals due to us and what we were paying (agents, etc) before closing, after the title search, that paperwork showed us getting the over $250k.
Create And Capture Life You changed your story, at the nine minute mark you say you didn't get the paperwork from escrow saying the amount until two days after closing or two hours before closing, you two dont even known when you recieved the documents telling you how much money would be deposited. Your story is sounding very fishy now.
Pat, there not changing the story YOUR NOT READING what they said correctly, they received paperwork on what they should get but not final paperwork telling them they would be getting less
Great info. Thank you both so much for sharing. After watching your last video, I told my wife your story and have been checking both her and my credit score. I want to make sure everything's right before our RV purchase next year. My student loans went on automatic COVID forbearance but my lender allowed me to continue paying the monthly amount, which went totally towards the principle and my credit shows all payments were on time. You both bought this issue to light for a whole lot of us. Hope everything works out for you. I know you're discourage right now, but have faith that everything will work out in the end.
Just ran across your dilemma, not sure why people need to project how they feel on others, maybe it’s because there is some anonymity to it. You guys are very resilient, in spite of what’s happening, we wish you the best of luck. Love the attitude on the trolls! As my mom used to say, “keep a stiff upper lip”
Stupid Question: Would it have been a single line item? I love the calculator so I usually do a run-through (or 10) of the numbers but your "simple question" has me wondering if I'd have caught it.
Come on how could you not see $135000.00 was misplaced you can add and subtract can’t you ? 5 years on most mortgages only paying about $5000 on principal real estate commissions and other closing cost could add up in the difference between 185000 and 110000 . If you did not pay a large down payment. I’m sorry you think people are picking on you STOP you are being judged for being STUPID.
@@royharper2003 The math is basic, but I referred to the transaction. Income taxes require only basic math, but the IRS code is extraordinarily complex.
I really hate people that don't have anything positive to add.. You are sharing your experience to HELP others and warn people. That is not a bad thing. I thank you for sharing.
Please do not be discouraged...and certainly not because of “trolls” who are mostly basement dwellers or youngsters playing pranks in the bottom of their parent’s basement...doing testosterone/progesterone driven things that young trollers do when their hormones are working in overdrive. You are my heroes for being so open, raw and vulnerable as you shared your story with your viewers. I have subscribed to your channel today because of your authenticity and genuine character that is discernible even without your words. Have a wonderful and blessed day and remember...NEVER give anyone permission to make you have a bad day due to their inadequacies:-).
So sorry about the trolls. Love your videos. We are planning to go full time in a couple years. Love learning from others. Good and bad. Sending you prayers that everything turns out the way it should. God bless you both.
Similar situation happened to us but not during covid our bank Wells Fargo did a similar refinance situation after we owned our house fifteen years later ended up losing our house because it was so upside down and my husband got injured on his job and we were trying to refinance to lower the payments and found out after paying ten years on the first refinance nothing was going into that payment, I’m glad you are telling your story
On EVERY mortgage, almost all your payment go towards the interest of the term (length) of the loan. So for a 30yr loan, the first 10 years youre just paying the interest off first - and then you start knocking principle down. That’s how mortgages are structured.
Hi guys I just found your channel because I’m thinking of living in an RV full-time in the first video I watched was the one in which you lost the money and your RV. My heart just broke for you, and yet you still seem to have such a positive vibe about you that I think you guys are pretty wonderful people. And I really look forward to all the episodes now I’m gonna start watching from that moment until present to see how far you guys have come. Keep up the great work!!!
I thank you for being candid and sharing your story. We are checking into our credit now. Never mind the negative comments. Those people aren’t going anywhere anyway!!🤗🙌
I recently came across your channel and I appreciate you guys sharing. Please continue moving forward and disregard the negative comments. Thanks for all you do, I feel that is was something for me to be careful about by you sharing.
Well known financial people told folks online to take the forbearance, even if you are still working. To save for an emergency account. So glad I did not listen to that.
You cleared 110k on the home sale. You said you are missing 135k. That means you expected to receive 245k on a house you sold for only 185k over the original purchase price. That doesn't make sense. Where did you expect the extra 60k to come from? The most you would have received, best case scenario, would have been in the neighborhood of 185k. Paying on a mortgage for 5 years doesn't knock off much of the principle at all, most of that is interest. Adding in closing costs for 2 loan occasions, the original and the modification, it seems like you guys received pretty much what you should have. Not being a troll or a bully, just evaluating the facts as you presented them.
So sorry this happened to you . Hope you come out smelling like a rose in the end & get out on the road in your renovated RV real soon . Safe travels & keep the rubber on the road . Cheers!!
I am new to your channel and Just subscribed after watching your last video. I appreciate your courage shown through your open transparency. Hang in there and you’ll get through it. Thoughts and prayers out to ya
I think its called a HUD statement. Its important to get them and always keep them from any realty sale. Keep fighting, you will help others become more aware.
You don't get a HUD statement for the kind of loan they had. They say they are in California. Almost no real estate in California is financed with conforming mortgage because it's all too expensive.
I'm so sorry this happened to you. Who would even think that things could get that messed up? I hope you win your fight against all of this. Thank you for staying so positive in spite of some unkind comments. I'll keep you in my prayers that this turns out in your favor.
I watched the last video and I watched this one and I am still confused. I'm a real estate investor, some twenty years now, and have been involved in lots of closings. I just don't get how you could have been surprised AFTER the closing as to how much you were going to get. Forget the title search for a moment. In every closing I've been involved with both seller and buyer get a HUD statement, usually a couple of days before, sometimes the day of, closing. It clearly shows what the payout to the seller is (after satisfying any liens, taxes, etc). That is the time to NOT sign if the number is not what you were expecting. In every closing I've been involved with, whether I was the buyer or the seller, the seller got to the penny what was listed on the HUD statement. It sounds like "the paper that shows to the penny what you're supposed to get" you refer to was the HUD statement and somehow that was not presented to you according to this video until two days after closing. I've never seen that, not sure how that happens. You must have signed something at closing in order for any funds to have been released. My guess is that either you were scammed, or more likely, you got what you were legally owed but your back of the envelope calculations were off. I have had some surprises like that (on a smaller scale) when I thought I was getting more at closing after a sale than I got. Usually commissions, prorated taxes, or other deductions I did not consider were the culprit. I understand you may not want to share more for privacy reasons but this video would have been so much more interesting and useful had you shared your numbers. The only hint you really give is that you sold your house for $185,000 more than you paid for it five years ago and you were expecting $135,000 more than you got at closing. Those are tantalizing clues but leave so many unanswered questions. You don't dispute the sale price, it appears that you only dispute the net amount you received after closing. It would be interesting to see what the deductions were, even if you do not agree with them. Guesses would be the things I mentioned liked numerous taxes, commissions and the like. It also may be that when you did the refinance two years ago which reduced your payments that in fact your payments were too low, putting you "underwater" in terms of the monthly payments you needed to make to keep paying down principal, and then that money was recaptured when you sold the house (sort of like a reverse mortgage) which I understand as you said in your last video you would not have knowingly done. At the end of the day, unless you were truly just ripped off, you did not have as much equity in your home as you thought you did. It's just hard to know without seeing your numbers. I feel your pain, and your shock. I hope you get some resolution and if you were cheated, that you get your money.
These are my thoughts too. I'll also add that according to the prior video, the house appraised for even more from the date of the refi-to the sale of the home. So, without knowing the numbers, I can only assume part of the "loss" of the $135k might be in the new higher appraisal and ultimately sale price of the home since the two years after the refi in question. The additional "found money" in a higher sale price is part of the "loss on paper" amount.
Nothing about their story makes any sense...the bank supposedly "sold" $135k worth of "principal" to a third party? Ok, so what? That's just $135k that you still owe, just not to the same mortgage lender. The fact that they didn't account for this $135K on their "back of the envelope" calculation as you put it, is their fault, no one else's. I'm not trolling these people, I'm really not, I've listened to their long, rambling videos about how they got "screwed" by their mortgage company, but as I said before, nothing in their story makes any sense.
My exact thought. Just because 135,000 was sold to another bank doesn’t mean it just disappears. They still owe it. As far as forbearance I don’t know what bank offers this without signed documentation that specifies how and when it is paid back. As far as refinancing you again have to sign documentation that specifies what will happen in your mortgage. It sucks that it happened and I feel for them especially when they are looking to start a new chapter in your life. Hopefully it works out for them.
It was California. They probably had a non-conforming mortgage. I don't believe they would have been receiving a HUD settlement statement... they could have gotten a settlement statement that had catch-all boilerplate rather than actual hard numbers.
No troll here, wishing you the best with your situation and hopefully you can get and RV and enjoy the road, we all know that there are some that thrive on others misery, but I am now a fan and subscriber and looking forward to following your journey :) hang in there, they say good things come to those who deserve it, so tossing some hopes and dreams your way....
I'm a very firm believer in things happening for a reason. Even things that are bad. And when your in the midst of those bad experiences, it helps to keep that in mind. This bump in the road, could be either opening another door you had not expected. Or it could be a blessing in disguise. This is my true belief and I've had lots of experience with bumps that ruined my plans, but ultimately helped me . When everything is said and done this will be a learning experience and hopefully a step in the right direction.
Unbelievable. These people still think they were "taken". SMH. They're in denial. The $135,000 debt sold off legally by their mortgage company didn't magically disappear and five years of payments barely touched principal on their 1st mortgage. They need to educate themselves.
Thank you for being vulnerable and transparent. It is unfortunate that cowards hide behind their social media profiles and trash people they don’t even know. There is such a deficit of moral character these days and it is clearly seen through social media. Your generosity to others as you were preparing to live in your RV Is not in vain. We need more selfless people like you in the world and less trolls and armchair critic’s who have nothing going for their life except an online critical and pathetic purpose. Delay is not denial. God bless you both
People now a days are just mean spirited, there’s no reason for them to be talking to you guys like that, this sort of thing happens a lot to good people. Sometimes you just don’t know. I would have trusted my mortgage company also if they called me and told me something like this. Thank God that you guys are up here telling your story and now I will keep my eyes open if it comes my way. You’re helping people and I would like to thank you.
I’ve only watched a few of your videos so I’ve been going back trying to watch a few more. And I’m sure you’re going to take this the wrong way, but I I believe everything happens for a reason. I don’t think you two are ready for full-time RVing. Rent an RV for a couple months and try the lifestyle. So many of the comments and concerns that you make in your previous videos concern me. My husband and I are a little more than weekend warriors but we’ve had multiple rVs over the last 10 years. We are constantly learning but we also understand that our rig is a rolling earthquake. It is not a sticks and bricks house and there is absolutely no comparison. If you could find a nice used RV to start with and make sure it is the lifestyle for you.The minute you roll that new RV off the lot you’re going to lose 30% of your purchase.
Liked only for your last bit about buying new. ALWAYS buy used. But many RVrs go full time headlong and do well. Theres more than enough info readily available to make the transition a lot easier than it was when you started.
First, I'm sorry this happened to you. I'm a Notary Public in CA and I specialize in mortgage loan signings (refi's, new loans, etc.) I also conduct Seller signings for all their necessary docs including the Settlement Statement. When I call to confirm the signing appointment I always remind the signer to review the Closing Disclosure and/or Settlement Statement. You as a Seller would have been sent the Settlement Statement in the document package and oftentimes it's sent to your email for review before the signing. I always start with these docs because if there is a discrepancy we can catch it early and reschedule. Clearly, the process was not handled properly and in the right order for your closing. I wonder why you weren't notified when your original loan was split up and sold off? I have hope that with perseverance (and a good lawyer,) you will resolve the situation and get back to your RV plans. See you down the road...
I think I’ve been duped in a different way and I can empathize with how badly it hurts. I think you all are handling it well and leading with kindness. Good for you. God bless you both
My gosh we are preparing to buy our dream RV and I have learned from you.. I took your video as informational to the rest of us. I enjoy your videos they are heart felt.
You need a complete financial audit of all transactions from the initial purchase of the home to time of sale. This will reveal the root cause of the unexplained loss.
Yes, the answer will be revealed very quickly with a review right from the start. As others have said, the 5 years of mortgage payments against a 30 year mortgage will be virtually all interest. The bump in this event was the refi. There can be closing costs and fees which can be rolled into the new mortgage not to mention the new mortgage will usually be a new 30 year term. This will again reduce any equity being created by payments in the initial years. Then there would have been fees that accumulated during the time they stopped making payments. So realistically at best there was no equity available on the mortgage/financing side. Then comes the issue of rise of the house value if $185,000 more than the purchase. They did not reveal the actual selling price but an assumption could be bought for $315,000 sold for $500,000. So as the seller they would have to pay for real estate agent commission. Typical fee is 7% , so that would be $35,000. Additional closing fees include tax adjustments, state and local fees which can be very variable, but would be all listed on the closing statement. So the total of sellers fees could be easily as much as $50,000. In this case the most the could have received would be $135,000. They actually received $110,000. The difference is $25,000. So $135,000 lost plus the $110,000 they got would mean they thought the total after closing costs should have been $245,000. Sorry, they just did not understand basic math. There was no $135,000 loss. The issue is the appx $25,000 difference. When it is all analyzed the sad truth will no doubt be seen in the refi rolled in fees and fees and fines when the stopped paying. That is sad because the financial system is difficult to understand and can readily take advantage of people. Learn from this and definitely do not repeat error by buying a new RV. The initial depreciation is absurd. Look at good used motor homes for instance. You can readily get a nice one 12 years old for $50k to $60k that originally sold for $250k and would cost $400k to buy a new one today. You can then use your $110,000 and have half left some of which will be used over time for repairs and maintenance. And get out of the apartment and be on the road. Life’s good and your happier future awaits.
@@wphubert I hope they read your response. Anyone who has ever bought or sold a house knows the paperwork and fees are astronomical (unless you buy in cash). I have mortgaged 4 homes over the years and bought one w/cash. The mortgage ones are almost half-day signing events, during which the amount your soul drops w/each new fee explained is directly proportional to how far your eyes bug out when you see the intial fee number, lol. I was in and out w/the cash in in under 10 minutes. Your answer can actually HELP this couple, and other people. No reason for people to just cast stones. Come from helping, not criticizing.
@@purselmer5931 They were half day signing events because you were dilligent and asked questions. typically if a borrow shows up reading before they sign, the title co person will start to lose patience and get real snarky. Sometimes they will even threaten to blow up the deal and refuse to stick around. I've had it happen. They are used to having neophites sow up, sign without reading, and then pop a champaign bottle with their agent.
@@robertlaw4073 Jesus, that does sound like a terrible experience. And you're right - I wanted to understand where every penny was going. I think any consumer has that right and they should take it. I hope you wrote a letter of your displeasure about your title company rep. who acted that way. I have always also insisted that the sellers not be there - that may have made it a little quicker at least? lol
If you are reading this now: Remember to get things in WRITING. The government didn't "say" anything. Persons gave incorrect information or blatantly lied. Many of those people will never be held liable or accountable for that. It takes years or never to get rid of incompetent government employees -- they can't be fired -- they just get reassigned.
Sorry about the trolls. It says more about them than you. Thanks for sharing your story. I will make sure I double check things before I sell my house. Good luck! I hope you can get your RV soon.
I just came across you you-tube yesterday and I was so glad I found it. I called my sister because she did the Covid Forbearance. Thank you for sharing!
Last year, we refinanced our house. We initiated it with our mortgage company. We read every word of all the paperwork...3x. I forced my husband to sit down so we could read it together since he was ready to just sign and I wasn't. Thankfully, everything worked out. We made sure we got letters proving the initial mortgage was paid and files updated. etc. When Covid hit, we decided to take our mortgage company up for the forbearance offer. After 2 weeks, my husband checked his credit and saw that "forbearance" was written in. I called up our mortgage company and told them to take us off the "Covid Plan." A week later, that note on our credit was taken off. After researching some more, we found out that the government said that we should have been able to put those 3 months at the end of our mortgage however, the mortgage company denied that and finally admitted that the 3 months would have been due in July along with the July payment. I'm so glad we researched and read all the fine print. Wouldn't you know, after watching your previous video, we got a call from our mortgage company asking if we would like to refinance and my husband said no. LOL. Shortest phone call ever. LOL!
You know, I am still working so I have no problem paying my mortgage. But everytime I go online to check my bank account and or pay credit cards, this smiley face pops up and asks me if I want to chat about covid. Wheww. Nutty out there.
You have done a good thing downsizing. Now you will only have things you really need. Others who have downsized to get into RV living have said, give or sell it all, if you find out you shouldn't have gotten rid of something, and you need to go buy it again, you will appreciate that thing even more -- and likely will have a better version. Never feel bad about things you gave away or sold. These are just "things". Also, you will be happy to know those living the RV-life are always giving away things to other RVers. Expect that to be a new culture you will see -- trading and exchanging things that work better for you, and giving things to others who can use what you are no longer using or no longer fits in your vehicle.
Hi guys, so sorry about what happened and the trolling afterwards. You are very nice people and would love to travel with you! Don’t listen to those losers!
Very classy the way your handling the trolls. Haters are just jealous that your living your dreams and goals and they are not. I appreciate your sharing your story. I hope you bringing it to light will help someone else not get burned. Have faith things will work out, glad you got attorney.
most people are told during loan modification, "DO NOT MISS A PAYMENT" " DO NOT BE LATE WITH YOUR PAYMENT" " CONTACT YOUR MORGAGE COMPANY IF YOU CAN'T PAY YOUR PAYMENT ON TIME"
Hey Roy, did you not pay attention to their video about being told by the mortgage company that it was okay to miss some payments due to Covid? I get what you're saying but this just shows that there's a lot of crooked people in the world. It's a hard enough lesson to learn without any Monday morning quarterbacks.
Thank you for giving us a heads up. Don't worry about the negative comments any action on your channel boosts it. Just ignore those sad sacks. Yay so glad you have an attorney.I wish you both the best from here out.💖 You have blessed a lot of people. Good things are coming your way.
If you provided a bit more information, people commenting here could provide you a close estimation ofwhat you should have received so you would know if you got cheated out of $135K or not. Here is what we know - You received $110K and you were expecting $135K more than this, for a total expected payout of $245K. This $245 K consists of the profit from the sale ($185K) + your initial down payment + whatever principal you paid down over the 5 years, with all closing costs (6% real estate commissions, tax true up, attorney fees, etc) subtracted from this amount. If you provide the orignal sale price, how much you put down, type of mortgage (30 yr?) and interest rate we could all give you a ball park of what you should have received and whether $110K is reasonable or not. I understand you don't want to give specifics, but even if you provide fictitious numbers that were somewhere in the ballpark it would allow you to follow the math to understand if or how much you were cheated. Good luck working with the attorney to resolve this.
I agree we have sold several houses and always knew how much we were walking away with well before closing. Sometimes it included refinancing too. Right now it sounds like a huge mess.
Why does how much they put down matter? As far as I can see it doesn't. Whether they put 3% or 20%, doesnt matter , the balance is the balance. Same thing with mortgage type. FHA, conventional, va...a payoff is s payoff. The rate the had on the loan theyre paying off also doesn't matter, the payoff is the payoff. Sounds like your one of those people that asked for way more info than is actually needed. Smh.
kjp551 Not at all, as I could care less since it doesn’t impact me at all . They obviously don’t know their balance or if it is correct or not so that info would help determine. If they knew their balance they wouldn’t have been surprised with their payout. Type of loan is 15 vs 30 vs balloon etc, not VA etc. since you have more insight and can determine the correct payout with this info then I’m sure they would appreciate your help. Have a nice day.
@@jforger Actually i think I have a pretty good idea what happened. They got a loan mod, $135k was forgiven on a contingency (for example they couldn't sell for 10 years or else it would be called due) they sold before the time was up so that $135k is now due again. Interest rates, types of loans, what have you don't matter...only thing that matters is the mod. Seems like they thought the forgiven amount amounted to equity for them but it doesn't work like that. It's not free money. You were saying... ?
@@jforger You're asking about downs and other unnecessary info. For what purpose? It matters not. Between their loan mod terms and fees associated with selling the house I'm quite sure there is no missing or stolen money. There's also no free money and I think they thought there was and now they're bent when actually it's just that they didn't get over on the bank like they thought they would.
Thank you for sharing your story. My heart goes out to you, it’s never a pleasant time. I shared your story to be a warning to others. We had a similar situation when we refinanced our first house years ago when I lost my job. We thought it would help to save our home, but it only came back to haunt when 6 months later when we had to sell. We lost all the equity that we had put into the house up to that time. Your an awesome couple whose honesty I appreciate. Your in our thoughts and prayers… don’t loose the faith. Tough times make for tougher people…
Back in 2008 mortgage crisis many homeowners were faced with similar situations. BOA and Countrywide were signing documents illegally and putting many people in financial hardship. I appreciate your courage and honesty to bring awareness to the matter because it will get worst. Filter out the trolls and keep that optimistic attitude to get you through it. Life happens and we all make mistakes and fall but that’s how we learn and be better than yesterday. I will keep you guys in my prayers. 💙💛
Trolls will be trolls. You shared important lessons. Sometimes we get so busy we forget to check on the details. Credit Reports, missed payments etc. and how we will be impacted.
So sorry you are going through this. We went through something similar back in 2009, now going through it again. It’s going to take a while for folks to get back on track.
Hi ! Just found your channel...Im sorry to hear what happened to you.. mortgage companies can be evil snakes ! And dont listen to those narcissistic trolls that have no life and nothing better to do..Everything happens for a reason and you will come out on top..could be the timing wasnt right to start your RV Journey..It will all work out ! Blessings from Wisconsin 😊💪
I’m so sorry about all of this happening to you. Thank you for sharing during this difficult time. The whole mortgage process is a complicated one and varies from state to state. Some states require a lawyer to handle the process rather than title companies, which I think is a good idea. I have bought and sold houses in multiple states, including California and count myself lucky to have not had any serious issues. In your previous video you complimented your title company and your realtor, and at the time I was thinking that they really let you down. They should be the experts and should be holding your hand and walking you through the process step by step and making sure all of the details are explained and clear. It is difficult to understand how the title company could have missed that large amount of money and then “suddenly” discovered it after closing? You definitely are right to get legal assistance with this. Please do a follow up video once you discover the errors and lessons learned to help everyone else avoid the same mortgage lender issues. Thanks!
How did you expect to clear $245k after all realtor fees and closing costs on a house you were selling for $185k more than you bought it for. 5 years of payments, especially after you refinanced during that time, would barely have touched the principal. You didn’t get scammed, you were not informed.
Hey Lynn and Jonathan, thank you for the update. Since Congress enacted the Covid forbearance law, have you contacted your state Senators and Representatives? If they learn this is happening to their constituents and the law was written to prevent it, they can investigate and accelerate a top-down solution directly from the U.S. Department of the Treasury to the Banks. Perhaps try to contact Secretary Steve Mnuchin's office directly.
@@martindryan Personally, I haven't researched that law but Congress passed it and if improperly implemented, they will care. Agree there is no reason to contact them if the law didn't provide those protections.
What a horrible experience and it could happen to anyone! How can anyone say such mean things to you? Nice to see you can chuckle. I wish you all the best of everything♥️
thank you for sharing, instantly subbed bc of your both great personalities! very valuable information (also on escrow eg.) and also a warning for me to don't go further on youtube bc it might not be worth it. no, you're not stupid - but an awful lot of people is. all the best for you and your dreams!
They don't know what they lost...a HUD 1 seettlement statement is the most essential closing document...everyone invovled in a sale focuses first and foremost on this disclosure that adds and subtracts every amount. Should have had it at close...but it certainly is available now as admitted in this video...why are we continuing with the lack of clarity...lack of clarity is not good....confusing is not some kind of service...NAIVE is IMMORAL....not a sweet anything.
LOL...for one, I’m not a troll. I just have a hard time believing, that a part of your mortgage will be set aside and all the payments you make will not put a dent to it. Then basic math, would have told them, this is what we paid, and this is what we owe. This is the same s*** all over again from 2008. Everyone knew they had a interest only loan, and then in 3 years when it went up, they had no idea.
I feel terrible for what you went through. Ignore those negative people, I think it's great that you are telling your story. Good luck to you both and I wish good things for you both.
Not knowing the numbers, however being in the mortgage industry this is a little insight. If you paid $400,000 for your home 5 years ago and sold it today after a refi a few years ago, this is what might have happened. Purchase price $400,000 down payment of $20,000 loan amount of $380,000. After a few years you refi and roll closing cost in, of say $10,000 new loan $385,000. Sell home for $585,000. You pay Realtor fees of 6% and have some cost to close say 1% or $40,950. Sale price $585,000 Realtor fees and closing costs $40,950 Gross proceeds $544,050 Minus balance $382,000??? Leaving net proceeds of $162,050 You claim you received $110,000 S0 missing $52,050 not $135,000. Again don't know the numbers so hard to say what really happened. I deal with this everyday, it can be confusing. Most lenders myself included make sure client fully understand every part of the mortgage. Great reason to use a local trusted lender. Very sorry that this happened.
My wife and I just sold our house in Florida and we had a $5200 bills we had to pay out of our closing funds for a water softener that we bought and they attached the loan and put a lean against our deed. Fortunately we were planning to pay it off with our proceeds. We couldn’t imagine what y’all had done to you. We hope that your lawyer can help y’all. God bless.
I'm so sorry this happened to yall. I checked our history bc of what happened to yall. I found out that we have a 30 day late ding on our reports when we refinanced 5 years ago. Thank you for sharing your story!
Still a question about the numbers. Usually with these deals there was a cash out or a balloon. What you thought you were going to get is irrelevant. It’s what you financed and what you received. If you received cash out 5 years ago or your payments weren’t sufficient to cover principal then there’s the answer. Post your settlement statement from the closing please. I don’t think mortgage companies are stealing homes.
I am really glad you shared this story. Information is powerful. I know it must have been difficult to share this but you should be proud of your bravery. Thank you
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
We’ve all done stupid.
I’m 59 and have worked all my life
My net worth is like $0.
So I’ve done stupid on steroids.
We all have.
I retired from the state of California
and three weeks later my landlord
Said she was gonna double my rent
So one week later I moved to Texas
and bought my 400sq ft home cash
For $23k. Now I’m building my savings.
Don’t give up
“If u fall 100x a day, u get up again.”
- St Therese
These pple are not.stupid tho
Sadly, many people did not learn the lesson, “If you can’t say something nice, don’t talk at all”. Sorry this happened to you. Hope you get to make your dreams come true soon.
I am so saddened by people trolling you. I think you are hero’s for telling this story. I truly felt the intent of helping people in the last video. In this past year 2020, we got a new job, moved across the country, bought a house, tried to sell a house, also took the forbearance, and also had a HELOC on the first house. listening to your story my thought are dread, and sadness for you. We got lucky and it mostly worked out... but this aspect of this year has been nothing but disappointment and hardship. Prayers for you both. I love RV life vids, and now I am invested in your story... so much love and luck to you both ❤️🙏❤️
Well said, the dream is NOT gone, just postponed. Thank you for sharing your lives. God bless you!!
Please keep your gods to yourself. 👎👎👎
@@zaineridling stop being mad with God based off of human experiences
Well, your payments went to interest. The first 10-15 years of a 30 year fixed you are paying mostly interest and very little principal and you don’t really start making a dent in the principal unless you make extra payments towards the principal. It’s confusing but if you (or anyone reading this)don’t understand, google an amortization schedule and plug your numbers in. You’ll be shocked how little equity you have after 5 years. When you sell your house, you are generally responsible for closing costs and most of the realtors fees, so you likely lost a large chunk there. You also added a refi on top of that and rolled the cost of the refi into your loan so there’s more lost equity that you were counting on. Then the “missed” payments and the forbearance so that interest keeps piling up and any payments after pay that interest before going to the principal. I hope that you do manage to get some of that money you were expecting, but you may want to brace yourselves for it to be much less than you are hoping for. Good luck.
That is true. Five years is not much time on a 30 year loan. I sounded like $135,000 was taken off the principle and placed in another loan where the interest owed just accumulated until the first mortgage was paid off or only a interest payment was made. If that is the case how does anyone ever get out from under that. I would really like to hear the details of what happened.
Oh and for the trolls. Anybody can get drawn into this. Banks and finance companies are in it to make money and they have sneaky ways to make anything sound good. Many people are not familiar with how lending works and can easily become a victim. So don't be so ready to judge somebody it can happen to you. Moral of the story read and re-read what you sign. Check the numbers. Money you borrowed does not just go away.
Flying Caddy sometimes people take out a second loan to avoid paying PMI, but that’s a whole other set of paperwork they would have had to sign.
elliedo01 correct, but they said $165 was with another bank
@@elliedo01 Good Point.
Most of these comments are from sad people with sad lives. Demeaning others is easier than working to make themselves happy. If you can handle the vitriol, the comments are funny but otherwise they're not worth reading. Anyway, you guys seem to be taking this in stride. What else can you do? Stay positive and you'll get out on the road. Later!
I appreciate good decent people like you. Your not lawyers big companies take advantage of good people all the time, pay the idiots no mind keep moving forward. I hope things turn around in your favor. Stoney
@@williamstoney3503 so true
You must be very sad.
Very true there Very an happy people.
Well said! I was thinking the same.
Dealing with trolls and haters is the hardest part of having a youtube channel. Look at the bright side of it, if they commented it is because they saw your video, so it means it was interesting. This is how I think with my channel. Good luck and be assured that you did not do anything wrong, you are the victims, period!.
It's true, you know your channel is doing well when you start getting hate comments, and you're youtube famous when the death threats start rolling in.
Or demoneytise you.
Most of the trolls are just looking for someome to dump on, hence Troll, just ignore them, best cure is silence and stop giving them 0xygen.
Most of the trolls are drinking and are trying to get a laugh, wouldn't take it to heart.
I don't think it's difficult. I think it's kind of funny to see that some people have nothing better to do than troll people. It certainly says FAR more about them than the people they are trolling.
It's kinda sad too, for the trolls.
Reminds me of high school. I feel sorry for them in a way. They must be miserable. Some of the troll comments, you've got to admit, are pretty funny. The "Karma" one was hysterically funny! Did the person saying that not realize that they might have "Karma" from their comment? You've gotta admit that's pretty funny! Bizarre, but funny!
Most trolls are incels living in their mom’s basement.
There is some positivity...most charitable.
Mac Boracay Which part of you did I offend - the troll or the incel?
Hey congrats...you are polluting the commons with one more round of negative comments. Thanks for the superiority.
Who’s basement do you live in Jody.
@@JodysJourney gold
My daughter luckily only lost out of 20,000 that she didnt know about till they gave her the check. Was told one thing when buying and something different when she sold...DIDNT SHOW UP ON HER TITLE SEARCH EITHER IN WASHINGTON STATE!!! BLESS YOU GUYS AND TROLLS just need to be ignored.
How did she lose 20k?
I have just found you and am shocked at your story. Thankyou for sharing so much detail. You have probably helped many people with your openness. I look forward to following your journey. 🐨
I'm sorry this happened to you. Thank's for putting out this information.
You have an incredibly strong and giving and caring ability to help others in the midst of tragedy; very generous and I truly hope it works out for you soon. Prayers!
So very glad you shared. My husband looking at our mortgage, Thank you, husband and I are dreaming of the open road in an RV. You two are amazing and very brave 💐
I listened to your first video telling about the horrific things your mortgage company did to you. I appreciate y’all putting yourselves out there to let others maybe learn from what you went through. My husband and I experienced very similar things. We are 63 and 64 years old and lived in our home for 32 years and we were in foreclosure and we weren’t told till we sold our house and we win closing of the paper work. We didn’t get much of anything like we were expecting and were shocked. We are now living with our kids till we get back on our feet. We are very blessed and thankful because so many end of homeless and no where to go. I pray miraculous miracles in your life. We knew God was with us all through it all so we didn’t let it get us down. Blessings to your family!
Did you investigate your situation? Was mortgage company on the up and up? Thanks 😊
Charlene White God Bless you on your new journey!
I don't understand. If you house was paid off....32 years should be paid off.....you would own free and clear. Did you miss payments somewhere in the 32 years? You weren't told you were in foreclosure until you sold the house?
Please pay no attention to the trolls/demons as that’s just what “they” do. It’s like fish that swim, or birds that fly... demons troll.
Clearing $110K from the sell of a home for $180K more than the purchase price just five years earlier is quite reasonable. If a home is purchased for $750K with a typical 30-yr conventional loan, the outstanding principle will not have decreased significantly in five years (look at the loan’s amortization table). And if it is refinanced during that five years, then the principal probably will not have decreased at all. If the sell is done using a conventional realtor, by the time you pay for any repairs, the realtor's commission, and possibly the buyers title insurance and any inducement points or closing costs, then one would be lucky to clear $110. Buying and selling a home is expensive and is usually a money losing exercise if only there five years.
Right I am thinking what about fees? It is expensive to sell a house. In five years very little principle is paid off. Was $180,000 after the fees or before?
Let's not forget about that cap gains tax they are about to pay.
@@tbled52 , Is there capital gains tax on your solo residence?
Tina Aurand Tax free exemption of $500k (for a couple) capital gain on principal residence, assuming lived in the home for 2 years or more in the past 5 years. So, no $180k gain is not taxable.
Dont forget the $45K in realtor fees, and title insurance that has to come from your disbursement too
Just started following you a couple of weeks ago, and I’m so appreciative of your transparency in all of this. My husband was just laid off today, following a 35-year career at WDW in Florida. We are still planning to sell/give away everything and go full-time in an RV next year! Praying that you’ll find some answers through the legal system. You are strong, and clearly committed to each other ❤️ “Just keep swimming”!
I don’t recommend it. You tube glamorizes it. I’ve probably lost over 40000.00. Rv’s are a depreciating asset and need yearly maintenance or they will not last.
Assuming your loan was amortized for 30 years if you look at an amortization table you will see that the first five years of payments are mostly interest with very little principal reduction. You were basically paying rent on the use of the money for the first five years. If your payments were escrowed meaning the payment included taxes and insurance then neither the Taxes or insurance portion of your payment (as well as any HOA monthly payments) reduce your principal owing.
That doesn’t explain if they sold it for 185k more than what they bought it for.
@@rosennate Then that's a false statement. They're not being honest here. Pride.
@@rosennate I think people would understand it more if we knew their purchase and now sold price.Though I can understand them not wanting to share that info. That is a huge profit for five years.
People are nasty when they don’t have to face people when they say their mean comments. I am impressed by your attitude and how you are dealing with what had to have been incredibly hard. Looking forward to continuing to watch your journey. 👍🏻
I am SO sorry you have to deal with this s$#t. You work hard and do what you think is right and some slickster comes along and screws you. You guys are doing a public service by sharing your story. It takes guts! Thoughts and prayers for you guys. I'd be willing to bet that you will get on track!!
So sorry you guys are going through this. Wishing you the best. I love your attitude. You give me hope for humanity.
You guys are not “dumb” it’s a testament to the fact that crappy things happen to good people. Your video made me think about combining through things and making sure we are where we think we are. Keep up the great channel!
YOU ARE NOT STUPID! This could have happen to any of us. Thank you, Thank you, Thank you, for sharing your story. We did not do a forbearance on our house but we did on our car loan. Because of your story I immediately asked my husband to check our credit report. The car forbearance did not show up.....but our credit score has dropped and we don’t know why. We are checking into it. When I shared your story with my husband, he said oh my word that could have been us! We trust our mortgage company just like you did ( my husband is 3 credits away from a PHD) not a stupid person! I believe you will come through this hard time even stronger than you where before! I know you have already helped so many people. We don’t always know what God is doing behind the scenes.....I believe he is working on your behalf. Praying for you. People are just mean!! Please don’t let them get to you😀
Cindy Haub thank you so much! I hope you can find out what happened with your credit score and that it isn’t the forbearance. Got Bless 🙏🏻
Thank you for sharing the info! So sorry things didn't work out for you. You are both being so positive and helpful! And thank you for blessing others with stuff you no longer wanted or needed. I'm sleeping on a bed given to me after a fire, and am so very grateful for it!
This is a terrible thing to go thru. Good warning and news. Prayers.
Have your attorney look into federal mortgage fraud, I have owned several homes and have not heard of a lender stealing your principle by supposedly selling it. I am not an attorney but it appears to me that your lender stole the money which is mortgage fraud. Usually a lender has to clearly spell out the terms of the loan and can not sell a portion without notifying you of the sale. Each state may have different laws regarding this though. You might also want to have your attorney check with the attorney that processed your loan, I believe different states require attorneys to process the loans. If the attorney was in on the theft he/she could be disbarred. If your attorney has OKed you saying who the lender is by name then you should also put the word out with all social medial warning others about this companies fraud so that others do not suffer UN-needlesly.
This was probably not a conforming mortgage (i.e., not covered by federal underwriting standards). I say that because most property in CA is too expensive to finance with a conforming mortgage unless you have $$$ to put down yourself.
As for lender stealing money, if that was the case, it would be a slam dunk, as they received part of the payment at closing. So they would have been stealing from the borrower, not the second lender.
What probably happened is that the title company screwed up, went off the lien, got a payoff amount from the first lender, failed to realize there was a second lender, and there was boilerplate language "catch all" in the escrow instructions that allowed them to just tack on the second lenders repayment after the closing... which boilerplate would have also allowed them to be sloppy prior to the closing about getting the numbers right.
You're not stupid.
Beware of the lawyers they will get more than you lost.
Possibly. You have to be wary that they will take it expecting to put in minimal work. Just as bad as a lawyer who sends a big bill for a little settlement is the lawyer who expects to spend a couple hours on the phone and get you a few bucks when in fact you are giving up a strong claim, but one that will require long hours and going to trial -- something a lot of independent lawyers don't want the hassle of anymore or can't make work economically given their business model (i.e., claim and settle, rinse, repeat).
Many take 30-60% or so of whatever they recover. I'd ask them to go after attorneys' fees, AND ask for the lawyer's fees and punitive damages, as they lied as well.
Prayers for you both !!! Life can be tough !!!
Take your money
I watched the previous video and was stunned at how a mortgage company could be so dishonest and do that to you.
You clearly are a “smart” and generous couple and got taken advantage of.
Ignore the trolls as much as you can but, still, their comments can be very hurtful.
Sadly they don’t care …
Good luck in your pursuit to make those who did this to you accountable.
Good luck to y’all. And remember the trolls don’t even own houses they live under houses. Lol 😂 or is it bridges I can’t remember....🤔
Thank you for alerting people. It's very kind of you to share the experience and process. All my best, hugs
Since you didn't get any closing paperwork until after closing, I'm still confused that you thought the amount would be $135k more. A 30 year mortgage will go down very little over 5 years since most goes to interest and the refi added additional costs. The one silver lining on this is that it stopped you from buying a RV that would depreciation significantly over the first few years. I would strongly encourage you to consider a nice used travel trailer. A new Class A motor home can easily drop 50% in the first five years. Start small. Start used. You can always upgrade down the road after you know what floor plan and features work best for you two. Over spending on an RV that you don't won't in a few years can be a really costly mistake. It is not uncommon for people that have lived in a home for 20 or 30 years to buy 2 or 3 rvs in the first five years trying to find the right unit for their needs. Good luck.
Unless you’re paying some to principle each month as we did and after our sale of our home we got back a nice chunk of money
I believe the comparison is the amount they owed versus the amount they sold it for hence, PROCEEDS of 135K is what they lost had not the Mortgage company sold it to a third party unbeknownst to them.
Steve Royer we didn’t pay closing costs, the escrow company sent us the totals due to us and what we were paying (agents, etc) before closing, after the title search, that paperwork showed us getting the over $250k.
Create And Capture Life You changed your story, at the nine minute mark you say you didn't get the paperwork from escrow saying the amount until two days after closing or two hours before closing, you two dont even known when you recieved the documents telling you how much money would be deposited. Your story is sounding very fishy now.
Pat, there not changing the story YOUR NOT READING what they said correctly, they received paperwork on what they should get but not final paperwork telling them they would be getting less
Great info. Thank you both so much for sharing. After watching your last video, I told my wife your story and have been checking both her and my credit score. I want to make sure everything's right before our RV purchase next year. My student loans went on automatic COVID forbearance but my lender allowed me to continue paying the monthly amount, which went totally towards the principle and my credit shows all payments were on time. You both bought this issue to light for a whole lot of us. Hope everything works out for you. I know you're discourage right now, but have faith that everything will work out in the end.
Hang in there you are such a beautiful couple! Hope you do get your rv soon. God bless!!
Just ran across your dilemma, not sure why people need to project how they feel on others, maybe it’s because there is some anonymity to it. You guys are very resilient, in spite of what’s happening, we wish you the best of luck. Love the attitude on the trolls! As my mom used to say, “keep a stiff upper lip”
Simple question: Where did y’all think the 135k went off your balance when you “refinanced?”
Stupid Question: Would it have been a single line item? I love the calculator so I usually do a run-through (or 10) of the numbers but your "simple question" has me wondering if I'd have caught it.
Come on how could you not see $135000.00 was misplaced you can add and subtract can’t you ? 5 years on most mortgages only paying about $5000 on principal real estate commissions and other closing cost could add up in the difference between 185000 and 110000 . If you did not pay a large down payment. I’m sorry you think people are picking on you STOP you are being judged for being STUPID.
@Charles White Actually you're dumb if you don't realize how complex real estate transactions can be.
@@blakeberlin6295 it is basic math
@@royharper2003 The math is basic, but I referred to the transaction. Income taxes require only basic math, but the IRS code is extraordinarily complex.
I really hate people that don't have anything positive to add.. You are sharing your experience to HELP others and warn people. That is not a bad thing. I thank you for sharing.
Please do not be discouraged...and certainly not because of “trolls” who are mostly basement dwellers or youngsters playing pranks in the bottom of their parent’s basement...doing testosterone/progesterone driven things that young trollers do when their hormones are working in overdrive. You are my heroes for being so open, raw and vulnerable as you shared your story with your viewers. I have subscribed to your channel today because of your authenticity and genuine character that is discernible even without your words. Have a wonderful and blessed day and remember...NEVER give anyone permission to make you have a bad day due to their inadequacies:-).
So sorry about the trolls. Love your videos. We are planning to go full time in a couple years. Love learning from others. Good and bad. Sending you prayers that everything turns out the way it should. God bless you both.
Valuable information, thank you! Love your videos and glad things are moving along.
Thank you so much for providing an update. Looking forward to seeing how this all works out.
Similar situation happened to us but not during covid our bank Wells Fargo did a similar refinance situation after we owned our house fifteen years later ended up losing our house because it was so upside down and my husband got injured on his job and we were trying to refinance to lower the payments and found out after paying ten years on the first refinance nothing was going into that payment, I’m glad you are telling your story
On EVERY mortgage, almost all your payment go towards the interest of the term (length) of the loan. So for a 30yr loan, the first 10 years youre just paying the interest off first - and then you start knocking principle down. That’s how mortgages are structured.
Hi guys I just found your channel because I’m thinking of living in an RV full-time in the first video I watched was the one in which you lost the money and your RV. My heart just broke for you, and yet you still seem to have such a positive vibe about you that I think you guys are pretty wonderful people. And I really look forward to all the episodes now I’m gonna start watching from that moment until present to see how far you guys have come. Keep up the great work!!!
I thank you for being candid and sharing your story. We are checking into our credit now. Never mind the negative comments. Those people aren’t going anywhere anyway!!🤗🙌
I recently came across your channel and I appreciate you guys sharing. Please continue moving forward and disregard the negative comments. Thanks for all you do, I feel that is was something for me to be careful about by you sharing.
Well known financial people told folks online to take the forbearance, even if you are still working. To save for an emergency account. So glad I did not listen to that.
There's one investor who called it at the beginning. He warned ppl not to do it if they had the means to cover their mortgage.
You cleared 110k on the home sale. You said you are missing 135k. That means you expected to receive 245k on a house you sold for only 185k over the original purchase price. That doesn't make sense. Where did you expect the extra 60k to come from? The most you would have received, best case scenario, would have been in the neighborhood of 185k. Paying on a mortgage for 5 years doesn't knock off much of the principle at all, most of that is interest. Adding in closing costs for 2 loan occasions, the original and the modification, it seems like you guys received pretty much what you should have. Not being a troll or a bully, just evaluating the facts as you presented them.
"Trust, but verify!" "I'm from the government and am here to help you." Good cautionary tale for all of is.
This had nothing to do with government! It was about the BANK!!
So sorry this happened to you . Hope you come out smelling like a rose in the end & get out on the road in your renovated RV real soon . Safe travels & keep the rubber on the road . Cheers!!
Sorry that happened, you’re nice people, and good things will happen
I am new to your channel and Just subscribed after watching your last video.
I appreciate your courage shown through your open transparency.
Hang in there and you’ll get through it.
Thoughts and prayers out to ya
I think its called a HUD statement. Its important to get them and always keep them from any realty sale. Keep fighting, you will help others become more aware.
You don't get a HUD statement for the kind of loan they had. They say they are in California. Almost no real estate in California is financed with conforming mortgage because it's all too expensive.
I'm so sorry this happened to you. Who would even think that things could get that messed up? I hope you win your fight against all of this. Thank you for staying so positive in spite of some unkind comments. I'll keep you in my prayers that this turns out in your favor.
I watched the last video and I watched this one and I am still confused. I'm a real estate investor, some twenty years now, and have been involved in lots of closings. I just don't get how you could have been surprised AFTER the closing as to how much you were going to get. Forget the title search for a moment. In every closing I've been involved with both seller and buyer get a HUD statement, usually a couple of days before, sometimes the day of, closing. It clearly shows what the payout to the seller is (after satisfying any liens, taxes, etc). That is the time to NOT sign if the number is not what you were expecting. In every closing I've been involved with, whether I was the buyer or the seller, the seller got to the penny what was listed on the HUD statement. It sounds like "the paper that shows to the penny what you're supposed to get" you refer to was the HUD statement and somehow that was not presented to you according to this video until two days after closing. I've never seen that, not sure how that happens. You must have signed something at closing in order for any funds to have been released. My guess is that either you were scammed, or more likely, you got what you were legally owed but your back of the envelope calculations were off. I have had some surprises like that (on a smaller scale) when I thought I was getting more at closing after a sale than I got. Usually commissions, prorated taxes, or other deductions I did not consider were the culprit. I understand you may not want to share more for privacy reasons but this video would have been so much more interesting and useful had you shared your numbers. The only hint you really give is that you sold your house for $185,000 more than you paid for it five years ago and you were expecting $135,000 more than you got at closing. Those are tantalizing clues but leave so many unanswered questions. You don't dispute the sale price, it appears that you only dispute the net amount you received after closing. It would be interesting to see what the deductions were, even if you do not agree with them. Guesses would be the things I mentioned liked numerous taxes, commissions and the like. It also may be that when you did the refinance two years ago which reduced your payments that in fact your payments were too low, putting you "underwater" in terms of the monthly payments you needed to make to keep paying down principal, and then that money was recaptured when you sold the house (sort of like a reverse mortgage) which I understand as you said in your last video you would not have knowingly done. At the end of the day, unless you were truly just ripped off, you did not have as much equity in your home as you thought you did. It's just hard to know without seeing your numbers. I feel your pain, and your shock. I hope you get some resolution and if you were cheated, that you get your money.
These are my thoughts too. I'll also add that according to the prior video, the house appraised for even more from the date of the refi-to the sale of the home. So, without knowing the numbers, I can only assume part of the "loss" of the $135k might be in the new higher appraisal and ultimately sale price of the home since the two years after the refi in question. The additional "found money" in a higher sale price is part of the "loss on paper" amount.
Nothing about their story makes any sense...the bank supposedly "sold" $135k worth of "principal" to a third party? Ok, so what? That's just $135k that you still owe, just not to the same mortgage lender. The fact that they didn't account for this $135K on their "back of the envelope" calculation as you put it, is their fault, no one else's. I'm not trolling these people, I'm really not, I've listened to their long, rambling videos about how they got "screwed" by their mortgage company, but as I said before, nothing in their story makes any sense.
My exact thought. Just because 135,000 was sold to another bank doesn’t mean it just disappears. They still owe it. As far as forbearance I don’t know what bank offers this without signed documentation that specifies how and when it is paid back. As far as refinancing you again have to sign documentation that specifies what will happen in your mortgage. It sucks that it happened and I feel for them especially when they are looking to start a new chapter in your life. Hopefully it works out for them.
It was California. They probably had a non-conforming mortgage. I don't believe they would have been receiving a HUD settlement statement... they could have gotten a settlement statement that had catch-all boilerplate rather than actual hard numbers.
No troll here, wishing you the best with your situation and hopefully you can get and RV and enjoy the road, we all know that there are some that thrive on others misery, but I am now a fan and subscriber and looking forward to following your journey :) hang in there, they say good things come to those who deserve it, so tossing some hopes and dreams your way....
Hope you guys get your money back. And hope whoever did this to you guys gets fired and tossed in jail!
😂😂😂😂..... there’s no money to get back 😂😂😂😂😂
Jail time? Not in America, unfortunately.
I'm a very firm believer in things happening for a reason.
Even things that are bad.
And when your in the midst of those bad experiences, it helps to keep that in mind.
This bump in the road, could be either opening another door you had not expected. Or it could be a blessing in disguise.
This is my true belief and I've had lots of experience with bumps that ruined my plans, but ultimately helped me .
When everything is said and done this will be a learning experience and hopefully a step in the right direction.
Unbelievable. These people still think they were "taken". SMH. They're in denial. The $135,000 debt sold off legally by their mortgage company didn't magically disappear and five years of payments barely touched principal on their 1st mortgage. They need to educate themselves.
Thank you for being vulnerable and transparent. It is unfortunate that cowards hide behind their social media profiles and trash people they don’t even know. There is such a deficit of moral character these days and it is clearly seen through social media. Your generosity to others as you were preparing to live in your RV Is not in vain. We need more selfless people like you in the world and less trolls and armchair critic’s who have nothing going for their life except an online critical and pathetic purpose. Delay is not denial. God bless you both
People now a days are just mean spirited, there’s no reason for them to be talking to you guys like that, this sort of thing happens a lot to good people. Sometimes you just don’t know. I would have trusted my mortgage company also if they called me and told me something like this. Thank God that you guys are up here telling your story and now I will keep my eyes open if it comes my way. You’re helping people and I would like to thank you.
People can be so mean ignore them!
I’ve only watched a few of your videos so I’ve been going back trying to watch a few more. And I’m sure you’re going to take this the wrong way, but I I believe everything happens for a reason. I don’t think you two are ready for full-time RVing. Rent an RV for a couple months and try the lifestyle. So many of the comments and concerns that you make in your previous videos concern me. My husband and I are a little more than weekend warriors but we’ve had multiple rVs over the last 10 years. We are constantly learning but we also understand that our rig is a rolling earthquake. It is not a sticks and bricks house and there is absolutely no comparison. If you could find a nice used RV to start with and make sure it is the lifestyle for you.The minute you roll that new RV off the lot you’re going to lose 30% of your purchase.
Liked only for your last bit about buying new. ALWAYS buy used. But many RVrs go full time headlong and do well. Theres more than enough info readily available to make the transition a lot easier than it was when you started.
First, I'm sorry this happened to you. I'm a Notary Public in CA and I specialize in mortgage loan signings (refi's, new loans, etc.) I also conduct Seller signings for all their necessary docs including the Settlement Statement. When I call to confirm the signing appointment I always remind the signer to review the Closing Disclosure and/or Settlement Statement. You as a Seller would have been sent the Settlement Statement in the document package and oftentimes it's sent to your email for review before the signing. I always start with these docs because if there is a discrepancy we can catch it early and reschedule. Clearly, the process was not handled properly and in the right order for your closing. I wonder why you weren't notified when your original loan was split up and sold off? I have hope that with perseverance (and a good lawyer,) you will resolve the situation and get back to your RV plans. See you down the road...
I think I’ve been duped in a different way and I can empathize with how badly it hurts. I think you all are handling it well and leading with kindness. Good for you. God bless you both
My gosh we are preparing to buy our dream RV and I have learned from you.. I took your video as informational to the rest of us. I enjoy your videos they are heart felt.
You need a complete financial audit of all transactions from the initial purchase of the home to time of sale. This will reveal the root cause of the unexplained loss.
Yes, the answer will be revealed very quickly with a review right from the start. As others have said, the 5 years of mortgage payments against a 30 year mortgage will be virtually all interest. The bump in this event was the refi. There can be closing costs and fees which can be rolled into the new mortgage not to mention the new mortgage will usually be a new 30 year term. This will again reduce any equity being created by payments in the initial years. Then there would have been fees that accumulated during the time they stopped making payments. So realistically at best there was no equity available on the mortgage/financing side.
Then comes the issue of rise of the house value if $185,000 more than the purchase. They did not reveal the actual selling price but an assumption could be bought for $315,000 sold for $500,000. So as the seller they would have to pay for real estate agent commission. Typical fee is 7% , so that would be $35,000. Additional closing fees include tax adjustments, state and local fees which can be very variable, but would be all listed on the closing statement. So the total of sellers fees could be easily as much as $50,000. In this case the most the could have received would be $135,000. They actually received $110,000. The difference is $25,000.
So $135,000 lost plus the $110,000 they got would mean they thought the total after closing costs should have been $245,000. Sorry, they just did not understand basic math. There was no $135,000 loss.
The issue is the appx $25,000 difference. When it is all analyzed the sad truth will no doubt be seen in the refi rolled in fees and fees and fines when the stopped paying. That is sad because the financial system is difficult to understand and can readily take advantage of people. Learn from this and definitely do not repeat error by buying a new RV. The initial depreciation is absurd. Look at good used motor homes for instance. You can readily get a nice one 12 years old for $50k to $60k that originally sold for $250k and would cost $400k to buy a new one today. You can then use your $110,000 and have half left some of which will be used over time for repairs and maintenance. And get out of the apartment and be on the road. Life’s good and your happier future awaits.
@@wphubert I hope they read your response. Anyone who has ever bought or sold a house knows the paperwork and fees are astronomical (unless you buy in cash). I have mortgaged 4 homes over the years and bought one w/cash. The mortgage ones are almost half-day signing events, during which the amount your soul drops w/each new fee explained is directly proportional to how far your eyes bug out when you see the intial fee number, lol. I was in and out w/the cash in in under 10 minutes. Your answer can actually HELP this couple, and other people. No reason for people to just cast stones. Come from helping, not criticizing.
@@purselmer5931 They were half day signing events because you were dilligent and asked questions. typically if a borrow shows up reading before they sign, the title co person will start to lose patience and get real snarky. Sometimes they will even threaten to blow up the deal and refuse to stick around. I've had it happen. They are used to having neophites sow up, sign without reading, and then pop a champaign bottle with their agent.
@@robertlaw4073 Jesus, that does sound like a terrible experience. And you're right - I wanted to understand where every penny was going. I think any consumer has that right and they should take it. I hope you wrote a letter of your displeasure about your title company rep. who acted that way. I have always also insisted that the sellers not be there - that may have made it a little quicker at least? lol
@@wphubert finally someone who understands
If you are reading this now: Remember to get things in WRITING. The government didn't "say" anything. Persons gave incorrect information or blatantly lied. Many of those people will never be held liable or accountable for that. It takes years or never to get rid of incompetent government employees -- they can't be fired -- they just get reassigned.
Sorry about the trolls. It says more about them than you. Thanks for sharing your story. I will make sure I double check things before I sell my house. Good luck! I hope you can get your RV soon.
I just came across you you-tube yesterday and I was so glad I found it. I called my sister because she did the Covid Forbearance. Thank you for sharing!
People are rude, I can’t believe you got these type of comments.
Last year, we refinanced our house. We initiated it with our mortgage company. We read every word of all the paperwork...3x. I forced my husband to sit down so we could read it together since he was ready to just sign and I wasn't. Thankfully, everything worked out. We made sure we got letters proving the initial mortgage was paid and files updated. etc. When Covid hit, we decided to take our mortgage company up for the forbearance offer. After 2 weeks, my husband checked his credit and saw that "forbearance" was written in. I called up our mortgage company and told them to take us off the "Covid Plan." A week later, that note on our credit was taken off. After researching some more, we found out that the government said that we should have been able to put those 3 months at the end of our mortgage however, the mortgage company denied that and finally admitted that the 3 months would have been due in July along with the July payment. I'm so glad we researched and read all the fine print. Wouldn't you know, after watching your previous video, we got a call from our mortgage company asking if we would like to refinance and my husband said no. LOL. Shortest phone call ever. LOL!
You know, I am still working so I have no problem paying my mortgage. But everytime I go online to check my bank account and or pay credit cards, this smiley face pops up and asks me if I want to chat about covid. Wheww. Nutty out there.
You have done a good thing downsizing. Now you will only have things you really need. Others who have downsized to get into RV living have said, give or sell it all, if you find out you shouldn't have gotten rid of something, and you need to go buy it again, you will appreciate that thing even more -- and likely will have a better version. Never feel bad about things you gave away or sold. These are just "things". Also, you will be happy to know those living the RV-life are always giving away things to other RVers. Expect that to be a new culture you will see -- trading and exchanging things that work better for you, and giving things to others who can use what you are no longer using or no longer fits in your vehicle.
Thank you for sharing. Everyone should check their credit score. If you are in a Forbearance, your credit score will go down. How can we stop this?
Bullies are everywhere. Look past those jerks. You are a cool couple!😊👍
jd vanlandingham thank you!
@@CreateAndCaptureLife Ignore all the nasty miserable bitter Trolls. 😟
Hi guys, so sorry about what happened and the trolling afterwards. You are very nice people and would love to travel with you! Don’t listen to those losers!
Don’t pay attention to the riff raff out there. Some people are just miserable and want to cause other people misery.
So True , Thanks
Yes, people find pleasure in insulting, talking trash is their only form of entertainment, humor, and joy.
I am so sorry you went through this. You seem like a sweet and smart couple. God Bless you.
Very classy the way your handling the trolls. Haters are just jealous that your living your dreams and goals and they are not. I appreciate your sharing your story. I hope you bringing it to light will help someone else not get burned. Have faith things will work out, glad you got attorney.
most people are told during loan modification,
"DO NOT MISS A PAYMENT"
" DO NOT BE LATE WITH YOUR PAYMENT"
" CONTACT YOUR MORGAGE COMPANY IF YOU CAN'T PAY YOUR PAYMENT ON TIME"
Hey Roy, did you not pay attention to their video about being told by the mortgage company that it was okay to miss some payments due to Covid? I get what you're saying but this just shows that there's a lot of crooked people in the world. It's a hard enough lesson to learn without any Monday morning quarterbacks.
@@Bobbio0090 my comment was informational only. mainly intended for people that may need a loan modification.
Thank you for giving us a heads up. Don't worry about the negative comments any action on your channel boosts it. Just ignore those sad sacks. Yay so glad you have an attorney.I wish you both the best from here out.💖 You have blessed a lot of people. Good things are coming your way.
If you provided a bit more information, people commenting here could provide you a close estimation ofwhat you should have received so you would know if you got cheated out of $135K or not.
Here is what we know - You received $110K and you were expecting $135K more than this, for a total expected payout of $245K. This $245 K consists of the profit from the sale ($185K) + your initial down payment + whatever principal you paid down over the 5 years, with all closing costs (6% real estate commissions, tax true up, attorney fees, etc) subtracted from this amount.
If you provide the orignal sale price, how much you put down, type of mortgage (30 yr?) and interest rate we could all give you a ball park of what you should have received and whether $110K is reasonable or not. I understand you don't want to give specifics, but even if you provide fictitious numbers that were somewhere in the ballpark it would allow you to follow the math to understand if or how much you were cheated. Good luck working with the attorney to resolve this.
I agree we have sold several houses and always knew how much we were walking away with well before closing. Sometimes it included refinancing too. Right now it sounds like a huge mess.
Why does how much they put down matter? As far as I can see it doesn't. Whether they put 3% or 20%, doesnt matter , the balance is the balance. Same thing with mortgage type. FHA, conventional, va...a payoff is s payoff. The rate the had on the loan theyre paying off also doesn't matter, the payoff is the payoff. Sounds like your one of those people that asked for way more info than is actually needed. Smh.
kjp551 Not at all, as I could care less since it doesn’t impact me at all . They obviously don’t know their balance or if it is correct or not so that info would help determine. If they knew their balance they wouldn’t have been surprised with their payout. Type of loan is 15 vs 30 vs balloon etc, not VA etc. since you have more insight and can determine the correct payout with this info then I’m sure they would appreciate your help. Have a nice day.
@@jforger Actually i think I have a pretty good idea what happened. They got a loan mod, $135k was forgiven on a contingency (for example they couldn't sell for 10 years or else it would be called due) they sold before the time was up so that $135k is now due again. Interest rates, types of loans, what have you don't matter...only thing that matters is the mod. Seems like they thought the forgiven amount amounted to equity for them but it doesn't work like that. It's not free money.
You were saying... ?
@@jforger You're asking about downs and other unnecessary info. For what purpose? It matters not. Between their loan mod terms and fees associated with selling the house I'm quite sure there is no missing or stolen money. There's also no free money and I think they thought there was and now they're bent when actually it's just that they didn't get over on the bank like they thought they would.
Thank you for sharing your story. My heart goes out to you, it’s never a pleasant time. I shared your story to be a warning to others. We had a similar situation when we refinanced our first house years ago when I lost my job. We thought it would help to save our home, but it only came back to haunt when 6 months later when we had to sell. We lost all the equity that we had put into the house up to that time. Your an awesome couple whose honesty I appreciate. Your in our thoughts and prayers… don’t loose the faith. Tough times make for tougher people…
Back in 2008 mortgage crisis many homeowners were faced with similar situations. BOA and Countrywide were signing documents illegally and putting many people in financial hardship.
I appreciate your courage and honesty to bring awareness to the matter because it will get worst.
Filter out the trolls and keep that optimistic attitude to get you through it. Life happens and we all make mistakes and fall but that’s how we learn and be better than yesterday.
I will keep you guys in my prayers. 💙💛
Trolls will be trolls. You shared important lessons. Sometimes we get so busy we forget to check on the details. Credit Reports, missed payments etc. and how we will be impacted.
So sorry you are going through this. We went through something similar back in 2009, now going through it again. It’s going to take a while for folks to get back on track.
Hi ! Just found your channel...Im sorry to hear what happened to you.. mortgage companies can be evil snakes ! And dont listen to those narcissistic trolls that have no life and nothing better to do..Everything happens for a reason and you will come out on top..could be the timing wasnt right to start your RV Journey..It will all work out ! Blessings from Wisconsin 😊💪
I’m so sorry about all of this happening to you. Thank you for sharing during this difficult time. The whole mortgage process is a complicated one and varies from state to state. Some states require a lawyer to handle the process rather than title companies, which I think is a good idea. I have bought and sold houses in multiple states, including California and count myself lucky to have not had any serious issues. In your previous video you complimented your title company and your realtor, and at the time I was thinking that they really let you down. They should be the experts and should be holding your hand and walking you through the process step by step and making sure all of the details are explained and clear. It is difficult to understand how the title company could have missed that large amount of money and then “suddenly” discovered it after closing? You definitely are right to get legal assistance with this. Please do a follow up video once you discover the errors and lessons learned to help everyone else avoid the same mortgage lender issues. Thanks!
How did you expect to clear $245k after all realtor fees and closing costs on a house you were selling for $185k more than you bought it for. 5 years of payments, especially after you refinanced during that time, would barely have touched the principal. You didn’t get scammed, you were not informed.
Hey Lynn and Jonathan, thank you for the update. Since Congress enacted the Covid forbearance law, have you contacted your state Senators and Representatives? If they learn this is happening to their constituents and the law was written to prevent it, they can investigate and accelerate a top-down solution directly from the U.S. Department of the Treasury to the Banks. Perhaps try to contact Secretary Steve Mnuchin's office directly.
Great idea.. because they care so much about us.. mayb ask them for a decent sized stimulus check while u have them on the phone lol:)
@@martindryan Personally, I haven't researched that law but Congress passed it and if improperly implemented, they will care. Agree there is no reason to contact them if the law didn't provide those protections.
What a horrible experience and it could happen to anyone! How can anyone say such mean things to you? Nice to see you can chuckle. I wish you all the best of everything♥️
Gah! Mean people suck! Sorry you have to go through all of this. I appreciate you sharing your ordeal so other can be aware. 🤗
thank you for sharing, instantly subbed bc of your both great personalities!
very valuable information (also on escrow eg.)
and also a warning for me to don't go further on youtube bc it might not be worth it.
no, you're not stupid - but an awful lot of people is.
all the best for you and your dreams!
The story still makes no sense
No your not making sense people sit here and tell there stories and there trolls like you well this story makes no sense 😂 🤦🏽♀️
They don't know what they lost...a HUD 1 seettlement statement is the most essential closing document...everyone invovled in a sale focuses first and foremost on this disclosure that adds and subtracts every amount. Should have had it at close...but it certainly is available now as admitted in this video...why are we continuing with the lack of clarity...lack of clarity is not good....confusing is not some kind of service...NAIVE is IMMORAL....not a sweet anything.
LOL...for one, I’m not a troll. I just have a hard time believing, that a part of your mortgage will be set aside and all the payments you make will not put a dent to it. Then basic math, would have told them, this is what we paid, and this is what we owe. This is the same s*** all over again from 2008. Everyone knew they had a interest only loan, and then in 3 years when it went up, they had no idea.
@@macboracay184 being naive is neither immoral or moral! I have no idea where you came up with that one, but certainly of no help to these people.
It's above your head.🤦
I feel terrible for what you went through. Ignore those negative people, I think it's great that you are telling your story. Good luck to you both and I wish good things for you both.
Not knowing the numbers, however being in the mortgage industry this is a little insight.
If you paid $400,000 for your home 5 years ago and sold it today after a refi a few years ago, this is what might have happened. Purchase price $400,000 down payment of $20,000 loan amount of $380,000. After a few years you refi and roll closing cost in, of say $10,000 new loan $385,000. Sell home for $585,000. You pay Realtor fees of 6% and have some cost to close say 1% or $40,950.
Sale price $585,000
Realtor fees and closing costs $40,950
Gross proceeds $544,050
Minus balance $382,000???
Leaving net proceeds of $162,050
You claim you received $110,000
S0 missing $52,050 not $135,000.
Again don't know the numbers so hard to say what really happened.
I deal with this everyday, it can be confusing. Most lenders myself included make sure client fully understand every part of the mortgage. Great reason to use a local trusted lender.
Very sorry that this happened.
My wife and I just sold our house in Florida and we had a $5200 bills we had to pay out of our closing funds for a water softener that we bought and they attached the loan and put a lean against our deed. Fortunately we were planning to pay it off with our proceeds. We couldn’t imagine what y’all had done to you. We hope that your lawyer can help y’all. God bless.
Why do people get so obsessed with trolls?
Who care what random saddos on the internet say? Just ignore them.
I'm so sorry this happened to yall. I checked our history bc of what happened to yall. I found out that we have a 30 day late ding on our reports when we refinanced 5 years ago. Thank you for sharing your story!
R and R Living hopefully you can get the ding removed. 🤗
Still a question about the numbers. Usually with these deals there was a cash out or a balloon. What you thought you were going to get is irrelevant. It’s what you financed and what you received. If you received cash out 5 years ago or your payments weren’t sufficient to cover principal then there’s the answer. Post your settlement statement from the closing please. I don’t think mortgage companies are stealing homes.
I am really glad you shared this story. Information is powerful. I know it must have been difficult to share this but you should be proud of your bravery. Thank you