Wanking with Wachovia

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Sunday October 25, 2009 · 9:53 AM PDT

2009/10/25 · 09:53

Wachovia calls me twice everyday for 10 months to harass me into paying my mortgage on an investment home in California. Usually I just ignore them and let it go to voicemail, but last week they called during the Bronco game.

I let them have it. How dare they call during a Bronco game! I told them to go F*** themselves.... nobody calls during a Monday Night Broncos game in Denver.

We just want Wachovia to give us reasonable terms on our mortgage, it was predatory to begin with. It's an ARM negative amortization loan that they've added $50,000 interest over the last 10 years onto.

Don’t forget lenders made incredible amounts of money by using irresponsible practices to issue and service these loans. That greed led to the foreclosure crisis we’re in today. Allowing lenders to continue foreclosing on home after home, destroying our neighborhoods and our economy hurts us all.

I stopped paying the mortgage last January. I was tired of losing money.

I went through a "modification" process already. It is worse than the original loan. All they did was send the PI (Principal and Interest)payment and said see: "it's lower". When I added in the taxes and interest, the new PITI is higher than the current PITI. I rejected the modification. It was a sham.

My attorney of 26 years is worthless. So is my other new attorney. They just milk me of cash by emailing me and calling me once a week. I wish I could bill all my emails and phone calls for thousands of dollars and accomplish nothing.

The system seems broke to me. Does anyone else feel this way?

I am getting suspicious that Wachovia is trying to sucker us. I don't think they have the promissory note from 10 years ago. My banker doesn't even know what a PITI is. He sounds like he's 21 y.o.

My credit is starting to go down the shithole for the first time in my life. I have faithfully paid millions of dollars to banks, credit card companies, vendors my whole life. It's my nature, I'm a bookkeeper at heart.

It's the end of the world as I know it... and I feel fine.

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So I'm going to play this one out. I've told my renters to stay put. I'm hoping for a miracle, maybe a Hail Mary pass? Some lucky breaks? The Broncos are 6-0. Maybe we can get lucky too?

I'd like to see some "cramdown" banking legislation. I'd like to see some single payer healthcare. I'd like to see some justice for the common people vs. the rapacious corporations. I'm not into politics all that much anymore. Our politicians have all sold out.

In the meantime we're Wanking with Wachovia as they strip away what we've worked for 40 years to build.

There are millions of us.

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