I fell behind on payments last November due to a job loss and called SPS loan resolution dept prior to any foreclosure proceedings. I was able to come to agreement on a forebearance plan with them. I sent in the required paperwork via fax and postal service. I had been making the scheduled payments as agreed to until March 1 07, I called in to pay by phone and was informed the forebearance plan never went into effect because I had not returned the paperwork. I informed them that I not only sent it in but I have proof of doing so. I asked why I had not been notified when I called in the other payments and they had no answer.
I was told my payments are being put into a suspense account and my home will go to foreclosure on March 8 07 unless I agree to another forebearance plan. I let them run the numbers and it was over 250.00 more per month than the original plan and they wanted an additional down payment. I asked if I could re-send the original notorized paper work to them and continue on the original agreement, the rep became very rude. She told me they will not accept it as it was my fault they did not get it the first time. She tried to belittle me and tell me that I can't afford to own the home and I should let them sale it to avoid foreclosure. Luckily I've done my homework, I informed her that CA is a deed state and as long as I make my contractual payment under my original loan docs they can't touch my house. She became irrate when I asked her to confirm this (all calls are recorded) and informed me they will add additional fees monthly as well as send a demand letter every 30 days.
I laughed at her and told her I was well aware of the prior lawsuits against her company and it seemed they still used the same tactics and I would be reporting them to the CA attorney general.
Bottom line is that these people are unethical sharks and will take you to the cleaners if they think they can.
If you are in CA and dealing with this nightmare keep in mind their threats are idle, everytime they send a demand letter just send in a payment and the proverbial foreclosure clock gets reset. They have already tanked your credit if your dealing with them so whats the worse that can happen - you open a new demand letter once a month.
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