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@Enggirl- yes, that's most likely what I will do. @Silverfall-I didn't say I would sue.. I was simply asking if anyone had any dealings with this and if I had a good reason to go to an attorney.. I've never sued anyone in my life and don't intend to now, but also feel the bank had a responsibility to follow through with their end of things. The banking industry seems to be exempt from accountability; that's the problem.
@1sttime buyer1184- don't use Fifth Third Bank.. you will end up regretting it..but good luck and congrats on buying your first home! Hope it works out great for you..
and No I wasn't made aware of that policy, nor of when they paid they claim. As far as I knew, they paid it when the house sold. I've gone through all my contracts, there is nothing in them that states that policy when it talks about foreclosure..
@Enggirl- yes, that's most likely what I will do. @Silverfall-I didn't say I would sue.. I was simply asking if anyone had any dealings with this and if I had a good reason to go to an attorney.. I've never sued anyone in my life and don't intend to now, but also feel the bank had a responsibility to follow through with their end of things. The banking industry seems to be exempt from accountability; that's the problem.
@1sttime buyer1184- don't use Fifth Third Bank.. you will end up regretting it..but good luck and congrats on buying your first home! Hope it works out great for you..
I'm not sure that it is the bank's responsibility to lay out in detail the consequences of a foreclosure and when you are eligible to buy again.
Yes, the banking industry is exempt from accountability but that is a different issue. Geithner didn't help that cause.
Odd how there seems to be little compassion for those who have gone through the foreclosure/deed surrender - often seems a bit of "well, what are you complaining about? " As if they deserve whatever comes their way because they somehow don't deserve a second chance.
I certainly understand the OP's feelings when the ability to get one''s life back in order is undermined by a lack of timeliness on the part of the banking institution. That three years is horrible and when you think the all clear bell has sounded and then find that is not the case, it is even more heartbreaking.
Maybe i'm a bit too close to the same situation to be totally unbiased but people get caught in terrible situations in life - the question becomes what serves the general good better - keeping someone down and out or helping them get back on their feet?
Odd how there seems to be little compassion for those who have gone through the foreclosure/deed surrender - often seems a bit of "well, what are you complaining about? " As if they deserve whatever comes their way because they somehow don't deserve a second chance.
I certainly understand the OP's feelings when the ability to get one''s life back in order is undermined by a lack of timeliness on the part of the banking institution. That three years is horrible and when you think the all clear bell has sounded and then find that is not the case, it is even more heartbreaking.
Maybe i'm a bit too close to the same situation to be totally unbiased but people get caught in terrible situations in life - the question becomes what serves the general good better - keeping someone down and out or helping them get back on their feet?
Not at all. I have tons of sympathy for folks. Most of the foreclosures in my area were job layoffs. We didn't do a lot of funky loans and such here. Loan modification was a joke of a process for people.
I'm just saying I don't think it is FHA's job to send a personal letter to each person that went into foreclosure to let them know the policy and to encourage them to encourage their lender to file for their insurance claim in a timely manner.
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