Helping those in danger of losing their homePosted: Updated:
PHOENIX - 3 On Your Side met one Valley woman who is struggling with putting a roof over her family's head ever since she made some mistakes in trying to save her home from forclosure.
"We cashed out part of my husband's 401k which was a big mistake of its own," Ginny Brown said.
It was the first of several costly mistakes Ginny Brown made in trying to save her home.
"It was just a big mess," she said.
For six years Ginny and her husband lived at this house in Avondale. Ginny admits, they took too much equity out of the house
"We pulled money out, we got caught in that refinance merry go round," she said.
But when the housing merry go round ran off the tracks, Ginny and her husband owed more than $300,000 for their home, much more than it was worth. Desperate for help, they tried to modify their mortgage.
"They said we can probably get mortgage down to $150,000 and your mortgage will be cut in half," Ginny said.
Ginny says her mortgage broker recommended she work with a company called Green Credit Solutions Their contract it said once an attorney accepts your case you'll be charged $3495 of which $2495 is a non refundable retainer. It goes on to say there are no guaranteed results.
"We never heard back from them," Ginny said. "Called left numerous messages and I just kept getting the run around."
Ginny says the company never did a thing and the bank ended up foreclosing on her home.?
Ginny's daughter and her husband also ran into financial trouble and now everyone lives in a rented house while they try to rebound. Ginny contacted 3 On Your Side in hopes of saving someone else from this same hardship.
"Just be careful who your gonna give your money to, deal with your mortgage company yourself," she said.
For more information from Take Charge America and to get additional resources on foreclosure, click here.