The difficulties of the American banks, and the useless indifferent system.
Here is a letter to the bank and as you see the people are in a hard situation, they should pay high rate to the bank. Here is no inflation and you pay a real high rate to the bank. The system is very useless, the police do not go after the people who robbed you and the insurance companies act also like robbers. They collect a lot of money, but in the time they should pay, they have a lot of experts to find an excuse not to pay, the people do not pay what they should pay and the courts are not serious with them. You pay the court and get only papers from them.
How can a honest person pay his bill as everybody or most people took advantage of him/her and took his belonging and do not pay him. USA has a very useless system which acts very indifferently. Here I got a sample for your information. In America you should be very careful with the system. There is no inflation so the interest is very hard to pay. In Iran with 30% inflation; if you pay 20% interest, it is still good, but here is very hard and very bad. In Iran the bank do not give any loan, because of inflation, and here they gave easily loan, because there is no inflation. The price of the houses in Iran is going up and here comes even down. In Iran, to rent is not a bad business , here it is a horrible business. As a lot of huge companies do these business and they have a good systems with attorneys. The private regular people cannot competent with them. You see Shehruz is persecuted in Iran and destroyed here, too.
But he is trying to survive like a lot of other people. The middle class people in the whole world are in a dangerous situation. Some people make a lot of money and have billions of dollars in the banks, but good people have nothing in their hand and what ever they have inflation or deflation will take from them and make them poor. Millions of American lost their down payments as they bought houses. The people who are rich now buy these cheap foreclose houses, after a while the price goes up again and they sell them to the people again.
Dear Bank of America My name is Shehruz first of all I hired an attorney to handle these matters. His name is Mr. Ben .. and I would like to ask you to contacts him concerning the modification or foreclose. I have three loans from the country wide co. which you take them over. The rates of these loans are very bad and very high and as you know the prices of houses that I bought with these three loans are very low now. One of these two houses is my residence and the other one is a boarding school. I bought actually this house for a boarding school. In the time that I bought these houses the payment was $1100 and $1200 per months. The Country Wide forced me to take more money for improvement of the houses and with the time the payment came to $3000 for each house. And the price of the houses came down. The bank sent the paper of forecloses to my tenants and they thought the house is not mine; they did not pay the rent and destroy the house. That means they took the doors and other materials like water heaters and left the house. That happened two times and I have to repair the house two times, they let or the water pipe broke and the whole floor was wet and damaged.
The insurance company sent another company to dry the house for one week, but after that they did not pay any pennies for the repair and I have to take money and repair the house. The Orange County cancelled the occupational license of the boarding school and I could not use the house as the boarding school, because they told me they had a mistake. They make a mistake and I have been punished for their mistake. The insurance company did not pay. I lost about 800,000 because of the Orange County license and about 200,000 from the insurance company, I have to have an attorneys to go after these two problems, they people did not pay me, I have over 40,000 bad check, which I cannot cash them. I have to pay the court and the sheriff to send them out of the house, but they did not pay their rent, too. They took my materials and the police or sheriffs do not act seriously for my lost. You see if the people rube me, it is difficult for me to pay the high interest you want. I have to recover all these lost and damages. I was persecuted in Iran, because my mother was Bahai and all my saving and money that I had from Iran and here, which was my saving for fourty years of work as a high school and college teacher or consultant to the state secretary is gone. All my down payment for these two houses is gone also. After so many years of work I have nothing left. Now the price of the houses is low and if you want to sell them, you cannot get more that %40 of the original price.
And I will lose all my down payment, but if you modify them, I can keep them and pay you a fair payment, which is according to the current value of the houses. My income from 12000 max and 10,000 min. came to 8000 to 6000, but I am trying to recover from all the damages. I hope that I can get some money from insurance company, Washington Mutual and some credits from Orange County. As you froze my line of credits I cannot hire people for the agricultural activities. And as you did not modify the houses I cannot get loan to continue my agricultural activities. You see I had farms and boarding school and I try to recover both of these activities. If you take the houses for foreclose, I will lose all my down payments which was the saving of my fourty years work and I will have no pennies left. In Iran I have been persecuted, because my mother was Bahai and the government of Iran, my Moslem friends and Bahai family misused the situation and took my belonging and money also. So you see I am in very bad shape and in a very hard situation. My wife also divorced me, because I lost my position and she and her father also took my belonging. I have been robbed from many sides. Here also the people robbed my belonging and did not pay the rent. You see I have the chance to get also money from the insurance company, because two time the people destroyed the house completely. And the Orange County may give back my occupational license. If you cooperate with me, we will not lose so much. Lower rat and the current price of the house should be considered. Yours Shehruz