The couple proceeded to move out by the deadline agreed to. They left the property clean and in good repair, so all that was left to do was to receive the payment of $3,000. To cover the cost of the move, the couple spent their Christmas money they had allocated for gifts, thinking they would receive the funds by Christmas promised from their mortgage servicer. Days turned into weeks, and still no check from the servicer.
The husband called the servicer daily and the servicer promised that the check was being processed. Christmas has now come and gone, and the family missed out on any gift giving or the ability to celebrate the holiday with family. Even though they have legal recourse to recover the $3,000, no amount of money can replace the Christmas that was sabotaged by the servicer’s Grinch-like behavior.
Just like verbal HAMP modifications and other promises servicers make to homeowners, you can’t rely on a word they say and many servicers prevent homeowners from recording the call (threatening wiretap charges if you record the call- although they can announce they will record your conversation: see your state’s recording laws). Before you move out, accept a cash-for-keys arrangement or negotiate any other arrangement- GET EVERYTHING IN WRITING. Remember: Servicers don’t want to modify a loan, they don’t want the home, they want the foreclosure and to deplete the homeowner of all cash resources so they don’t have the funds to fight back.
