Former Home Owner. I was laid from my job in August 2009 while working for an Alternative Energy Company. I contacted the bank/s (Wells Fargo & WaMu) the day I was laid off. I had two banks with one sub-prime loan.
My wife and I paid on these loans for two years at interest rates as high as 12%, as we were told this is the best First Time Homeowners could receive.
2 years we paid on the loan with rate as high as 12%. After months of trying to work with the banks upon unemployment; we received a letter that our house was being put up for auction in April 2010 and to vacate. We picked up our two kids and left to find a rental place, leaving our house and American dream.
With all the new regulations and bank bailouts. Why can't I get my house back at the current market value?