Everhome Is Scaring Me…
When I bought this house about five years ago, I used a mortgage company that just did the mortgage and then sold the loan to a different bank for management. At the time, they sold it to Regions, which is a pretty established bank here in the Midwest. (Maybe in your area too…I don’t know, I only live here.)
Anyway, everything was fine with Regions for a few years and then they sold me to a company called Everhome, whom I had never heard of. I didn’t really mind since the only interaction I had previously with my mortgage company was to send them a payment.
So, in the last twelve months, things have been going wrong and we’ve been struggling (you know that story already). Now I need some relief, so I call Everhome. And I’m told they can’t really do anything for me unless I’m two payments behind.
For realz?
So, I’m the moron because I’m trying to avoid problems before it gets to the bad place. This doesn’t seem like a good sign.
Zip forward to last month. The struggling is only getting worse. Everhome calls because the mortgage is a smidge late. I tell them I’m having trouble. The woman offers to send some loan modification paperwork which should be there in a couple days. That was three weeks ago…
You don’t have to beat me over the head with some Grohe faucets to know this may not be the best mortgage company to have.
Then, to add insult to injury, I get a mailer today featuring a ‘win a free mortgage payment contest’ from Everhome.
Dear gosh, is this my loan modification paperwork???
July 9th, 2009 at 8:27 am
I had a car payment that I couldn’t handle for awhile. I tried to call the lender to let them know I couldn’t make the payment – they said the same thing “you have to be at least 2 payments behind before we can do anything”. After the 2 months went by, their ‘resolution’ wasn’t much better. They put me on some kind of ‘hold’ where I didn’t make any payments for a few months, however, it was reported to the credit bureaus and followed me for years. Yeah, all that BS about ‘contact your lender before things go bad’ is just crap advice. They won’t do anthing.
Hope you win the free mortgage payment! LOL
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July 9th, 2009 at 10:12 am
A: I finally clicked on that link to listen and because I had always assumed you were the one who would be reading the post, I now picture you as a robot from the distant future (Flight of the Conchords reference).
B: It’s very ironic to me that more lenders aren’t helpful to those they lend to. I think that for a house note or car note – at least – lenders should copy the practices by student loan providers; if you call them and tell them you’re having difficulties, they will give you months of deferment. Sure, you still rack up interest, but it’s better than the alternative. And mentally speaking, it’s a huge relief to know there’s a bill you don’t have to worry about while you’re worrying about life’s stresses.
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July 9th, 2009 at 10:15 am
That reminds me. I need to call MOHELA and Sallie Mae.
July 9th, 2009 at 6:33 pm
You know, Patrick, your story here sounds a lot like what is happening to me right now. I did manage to get down to one payment and by the grace of God, I hope to send that in next week. I can’t help thinking: is Everhome Region’s answer to “the rest of us” that the bank sees as more risky customers? I wonder…
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July 9th, 2009 at 9:11 pm
I went through something similar with our mortgage company, (sold for the, I think 4th time) MetLife. I talked about getting a lower rate since we’ve never missed or been late and all that. The very nice man I talked to explained that while the government’s program would consider our mortgage too high, in comparison to our income, that only takes effect if you are in foreclosure (Hmm, not worth it) and that they are glad to work with us, AFTER we get behind a few months . . . But if we want to refinance now, we can pay the fees and paperwork and all that, spending several hundreds or a thousand dollars to save $50-$100 a month. Gee. Thanks.
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