Home Front

A blog about the economy and the Sacramento-area real estate market.

October 8, 2009
Horror stories about servicers from a front-line loan counselor

Dropped phone calls, lost materials, different stories from different people, chaos and confusion inside the cubicles of mortgage services. It isn't often we get such a revealing and candid view from the front lines of nonprofit loan counseling about dealing with loan servicers. But

here now is an astonishing inside look from Manny Randhawa, housing counselor for the California Senior Legal Hotline in Sacramento. (Don't be distracted by the deleted markings in the piece; the text is all there).

 
Randhawa recently wrote it as an op-ed piece.
The chaotic nature of what he deals with is his opinion and based entirely on his own experiences. We have not sought feedback from the institutions he mentions.

But I can say that his experiences match the tortured stories I have been hearing generally from borrowers - and some counselors - for well over two years. Home Front has to speculate that what Randhawa explains above is among the many reasons this California economy is in its current state, and a key factor in the high numbers of foreclosures. 

 

 

 

 

 

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