Complaint / review text:
I contacted New Hope in Nov 08 through a brochure we received in the mail. I was behind on mortgage payments and was trying to refinance but had no luck so when I contacted New Hope Mammoccio came to my house to discuss my options - he tells us the only way to go is a lease/buyback where an investor (Deborah Lind) puts my mortgage in her name (basically buys my house) for 1 year and after a year I can buy my house back. On top of that Mammoccio tells me I have to pay 1200 per month (because he has to make money). So now after a year and over 15,000 worth of payments, not to mention the cash back to seller (99,000) my house will be sold. There was supposed to be money in escrow for a down payment as well as money to pay the mortgage for 18 months.
I received a letter yesterday from Deborah Lind's attorney stating I have 3 options - buy the house back which I can't because Mammoccio never reported any of my payments and my credit is below 500, enter into a lease agreement with the current owner (Deborah Lind) which probably be over 2500 a month, or vacate in 30 days. They are coming to my home to inspect the property and put up a sale sign. These people need to be prosecuted to the fullest extent of the law, including the investor's because they were part of the scam too. I have a family that will be homeless if I dont' find some way of keeping my house. The FTC froze all their assets and ordered them to pay restitution to all the modification cases, the Attorney General told me today, basically all the people that are lease/buyback victims are basically screwed and on their own. So, there will be a lot of families without homes including me.
I have 3 grandchildren all under age 6 that will be homeless. How do these people sleep at night knowing what they did to people? If there is anyone out there that has any suggestions for me other that contacting an attorney which I already did but it might be too late because I don't speak to them till June 4, I'm open for suggestions or any help anyone has to offer...