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Getting money back after lender goes under

by JESSE JONES / KING 5 News

Bio | Email | Follow: @getjesse

KING5.com

Posted on May 12, 2010 at 10:00 PM

Updated Wednesday, May 12 at 8:37 PM

Amy Parker's home is made of wood and metal, but it's held together by her strong hand.

She and her husband built their house in the outskirts of Gig Harbor. It has a tree house for son Reid and a garden. Inside is a beautiful floor that was installed under the most difficult of circumstances.

"I was pregnant when I laid this tile down. I was bound and determined that this house was going to be done. It wasn't," she said.

The home was completed soon after Reid's birth. Things couldn't have been better until last July when Amy tried to refinance the mortgage.

"Thought we'd save a little money, and we did," she said.

The deal was almost done. All Amy was waiting for was $1,335.48 she'd put in escrow, but her lender filed for bankruptcy and Amy couldn't get anyone to send a check.

"Funds were frozen. Then those loans that were owned by that company were sold and Freddie Mac purchased our loan a long with many others," she continued.

So Freddie Mac now had the Parker's escrow money, but Freddie wouldn't answer the phone.

"Ignored, no live person ever answered the phone numbers, messages left no calls back," said Amy.

Freddie Mac answered my call and said it had to dig into the files of the former lender. They did and found her money. Within a week, the Gig Harbor mom got her check.

"I'm sorry it had to come to this and I can't believe my husband and I were the only ones caught in this transferring of accounts, honestly," she said.

Here's what's interesting. Freddie Mac could not give us a solid number as to the number of people affected by this. If this has happened to you, make sure you contact Freddie Mac and keep your loan documents.

If you get no satisfaction, e-mail me at getjesse@king5.com or call toll-free 877-51-JESSE, and contact the Attorney General's Office.

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