Pbr Asset Management - Wedgewood Inc. David Wehrly Refuses House Payments Auctions Off Senior Citizen Home
August 2005 I moved to a home known as 24XXX Cruise Circle Dr. Canyon Lake, CA. 92587. In February 2007 I purchased the home. In 2010 my mortgage company GMAC Mortgage sold my home loan to PBR Asset Management. David R. Wehrly is the President of this company located at 2015 Manhattan Beach Blvd. Redondo Beach, CA. 90278 and 319 Main St. El Segundo, CA. 90245. Mr. Wehrly works out of both offices.
My home was not in foreclosure or a distressed property. I was current on my home loan. PBR Asset Management only reason to purchase the home was to foreclose and flip. When the home loan was first sold to PBR Asset Management sent one of their representatives to my home and asked when would I be moving. I said this home was purchased as a retirement home and I had no plans to move. I was informed PBR Asset Management didn’t want the home loan and I was to look for another loan or get a family member to help pay off the loan.
For the next couple of years PBR Asset Management hired mortgage service companies that specialized in foreclosures.
In April 2012 my home loan was now to be serviced with BSI Financial Services in Titusville, Pennsylvania. I made all my house payments with a Bank of America cashier’s check and sent it all payments UPS 2 Day Air so BSI Financial Services would have to sign to receive cashier’s checks. My first payment to BSI was April 2012. The cashier’s check was received and cashed followed by May 2012 payment received and cashed.
After a couple months I started receiving several calls per month about my payments not being made. I was current and I have a record that they received and cashed my payments.
Approximately December 2012 a representative for BSI called to review the payment time line of when I sent the cashier’s checks. It was confirmed that was payments were current up until December 2012 all checks had been received and cashed and my escrow account for money to pay property taxes and insurance had more than enough reserved. I was told by January 2013 I only needed to pay the actual house payment. From April 2012 to November 2013 I was current on my home loan.
My payment owed for December 2013 was returned to me approximately 30 days after I sent my cashier’s check. At that time I was told by a representative of BSI Financial Services the mortgage service company hired by PBR Asset Management that the cashier’s check was returned because it had the wrong account number on it. At that time I had already sent my cashier’s check for the January 2014 payment and approximately 30 days later that cashier’s checks was returned.
I was current on my home loan with PBR Asset Management and the only reason why my home loan began to no longer be current because PBR Asset Management and BSI Financial Services refused the true amount I owed for my loan asking tens of thousands of dollars to keep my home or they would Default on my home.
My home of 10 ½ years was just auctioned off February 17, 2016 due to the failure of PBR Asset Management and BSI Financial Services failing to correct their accounting errors and their errors of adding penalties that were not owed and failed to help resolve this issue especially in a timely manner other than them pay tens of thousands of dollars. The last request pay them $93,000. Doing the right thing since PBR Asset Management is a lender that immediately once the accounting errors were addressed and they were aware the missing house payments were actually made any payments that they refused should have been put at the back of the loan and then let the homeowner make my house payments.
I am a senior citizen and this was to be my forever home. I have done as much as humanly possible including hiring an attorney and filing a lawsuit but PBR Asset Management and BSI Financial Services keep providing everyone including the courts false documentation. I have done all the steps to try and keep my home of 10 ½ years including a Chapter 13 Bankruptcy to even repay over a 5 year fees that I don’t owe but willing to do just to keep my home but their attorney prevented the filing of the Chapter 13 Bankruptcy so the home could be auctioned off.
PBR Asset Management needs to do the right thing. The home was auctioned off to another investor that plans to just flip the home. PBR Asset Management needs to refund the funds because the investor that bought the home at auction on 2/17/16 is not happy with the circumstances. The payments they refused they need to put the amount at the back of the loan. Because time is of the essence and they failed to correct their mistakes in a timely manner because all missing payments were accounted for prior to them refusing the house payments. They should give a current interest rate not the 6.5 it has been at.
I just hope this story can help a consumer out there.
This person wrote the review because of problems with payment of home loan from Pbr Asset Management and attached photo s. Reviewer claimed that he or she lost $407000 and wants Pbr Asset Management to "wedgewood dba pbr asset management needs to do the right thing. the home was auctioned off to another investor that plans to just flip the home. pbr asset management needs to refund the funds because the investor that bought the home at auction on 2/17/16".
The author asks this business to immediately contact him/ her to briefly discuss his/ her negative experience with the company.
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