Interest Rate Mediators

Two years ago, in January 2009, we thought we were just refinancing our loan with Chase and GMAC, when we paid $3,000.00 to IRM. It wasn't until we had already been modified with GMAC, and behind many payments, because we were told not to talk to Chase, we realized it was a scam, and they went out of business, leaving us 7 months behind, due to waiting for them to "modify" our Chase loan. We are now in the final stages of a "possible" modification with Chase, but if it fails, after two years of waiting, we will need around $12,000.00 to be up with our payments. I feel that the very least that should happen, since it was "guaranteed a refund, if they didn't modify", that we get $3,000.00 back, but really should expect all the 7 months of payments and fees, that went along with it while we waited for them to modify.

We are only one of many people who were left stranded others. I have literally had to call Chase once a week for the first 1 1/2 years, and twice a week in the last six months, to keep up with the process, and be sure they didn't file 13 on our file, because we didn't update our information. In the beginning, we didn't know that in order for them to modify, we had to have a hardship status. I would have rather gone and gotten another job, than go through this, and risk the loss of our home, which houses 13 people right now, as my daughters and their families live here too.

As a result, so far we have just had to wait, but the anxiety has caused me so much stress, causing depression, as my husband does not handle any of our finances. I have applied for other jobs since, and have not been able to get another job. I have actually felt suicidal on many occasions, because my life insurance amount would cover the amount, in order to keep my family in a home.

Basically, they, Interest Rate Mediators, took our money and ran! Unfortunately, we trusted this company to help us with our loan modifications. We were told by them not to contact our mortgage company and let Interest Rate Mediators take care of everything for us. We now find out that our house IS in foreclosure and it is waiting for a bank date auction to take place! We are seniors and on disability due to work injuries that prevent us from working. [Our first obstacle happened when the Social Security made a mistake and took away our incoming money that we paid the house payments with. They have since corrected their mistake, but, as yet, they have not reimbursed us...] We were two months behind in our mortgage payments when we went with this company to do a loan modification. That was months ago and we do not hear from these people. In fact, their account is closed and the fax is off and no one answers our calls to inquire about our status. We have two different homes that we paid for to have loan modifications on.

We, my husband and myself, live in one home (for over 19 years now) and our grown daughter, a single mom with two teenage boys, live in the other home (for over 6 years now). We made increments of three payments in total to this Interest Rate Mediators for loan modification fees for our two homes. It would be nice if we could get our monies returned to us for their incomplete service to us, but, our main objective now is to stop foreclosure and save our homes. [My husband will be going to a Worker's Compensation settlement hearing in December, hopefully finally settling his case and getting his reimbursement retirement monies and all monies owed to him due to the work injury. In that case, we will be able to get back on track with our mortgage payments.] We can not lose our homes!!!

This has been such an EXTREMELY STRESSFUL TIME for all of us and we relied on Interest Rate Mediators and all the good that they layed out in front of us that never materialized! We were told that our interest rate will be dropped, that our principal balances will be reduced and that our monthly payments would be knocked way down to about a third of what we were paying. And for us to not worry about the missed mortgage payments as they will be added to the end of the contract. But, now we are so far behind waiting on them to handle things for us like they said but it hasn't happened the way they said it would. We are just beside ourselves and IN DEEP CRISIS!