Trooper_IHB
New member
<p>How weird is this. I just received a call from my 2nd mortgage provider. I've never heard from them in the 2 yrs that they've held my 2nd. The friendly voice on the other end of the line was just calling to "check in" to see how everything was going since recently FEMA advised them there had been a natural disaster declared in my area (Connecticut). Now, I live in CA and rent out the house, and I know we had a crud load of rain a couple of months ago....but disaster? (I do concede that there was some flooding in the area, but nothing crazy....) so I was still incredulous about the call. She then asked if my current information was still valid......uh, yes. </p>
<p>WHAAA? I expressed a little skepticism and after some friendly banter, I finally got the young female caller to admit that another reason why they're calling is to make sure I'm still above water financially. Now, I've never paid late and I add extra principal every month, so I kept chatting with her trying to get to the bottom of it. Made no sense to me why they were calling a "pay on time" kind of borrower.</p>
<p>She confirmed that the call was pretty much being done as an offensive move to try and identify folks who might be headed towards default. Apparently, she stated, there are so many people in the last 2 months that have gone into voluntary default, the company has chosen this path to try and identify these people early and try and get them on a "payment plan". When I asked if they were offering to lower peoples rates, she said "no, we can't do that". I also asked her how the payment plans were working out....she said, "they're not, really".</p>
<p>She also confirmed that they have hired a "whole bunch of new people" to deal with the rise in defaults and foreclosures. Her words were "It's really bad". She said that most people that are in trouble are just telling her "I'm not paying, the keys will be on the counter". She also confirmed that California was the worst state on their rolls.</p>
<p>Have you ever heard of a mortgage company making "pre-emptive strike" calls like this one ??? Unbelievable.</p>
<p>For those that are wondering, its Wilshire Credit Corporation. And my rate is fixed, so no concerns here about resets.</p>
<p> </p>
<p>WHAAA? I expressed a little skepticism and after some friendly banter, I finally got the young female caller to admit that another reason why they're calling is to make sure I'm still above water financially. Now, I've never paid late and I add extra principal every month, so I kept chatting with her trying to get to the bottom of it. Made no sense to me why they were calling a "pay on time" kind of borrower.</p>
<p>She confirmed that the call was pretty much being done as an offensive move to try and identify folks who might be headed towards default. Apparently, she stated, there are so many people in the last 2 months that have gone into voluntary default, the company has chosen this path to try and identify these people early and try and get them on a "payment plan". When I asked if they were offering to lower peoples rates, she said "no, we can't do that". I also asked her how the payment plans were working out....she said, "they're not, really".</p>
<p>She also confirmed that they have hired a "whole bunch of new people" to deal with the rise in defaults and foreclosures. Her words were "It's really bad". She said that most people that are in trouble are just telling her "I'm not paying, the keys will be on the counter". She also confirmed that California was the worst state on their rolls.</p>
<p>Have you ever heard of a mortgage company making "pre-emptive strike" calls like this one ??? Unbelievable.</p>
<p>For those that are wondering, its Wilshire Credit Corporation. And my rate is fixed, so no concerns here about resets.</p>
<p> </p>
