At the beginning of this year my husband's work was slow and we got 2 months behind (May and June). Since then it has picked up and I called Option One on 7/6/07 and wanted to make those payments, they said they can't accept any payments from us because we are already set for foreclosure with a sale date of 12/29/07.
We asked them why they didn't give us the option to get caught up first before filing for forclosure and they said we were 3 month's behind and that's their policies. They told my husband July is late also. We said we are still in July. The rep.in a heavy India accent said they don't have any information at this time and to call back 5-7 days.
So I called back in a few days to get another rep. With a heavy India accent (you can't understand) just to tell me the same information and to call back in 5-7 days but they don't hesitate to tell you the sale date of our home. This went on 3-5 times before getting any answers. Later that week a person who works for Option One came to our house to drop off a letter.
Ironically the letter said "Important" call Option One right away. We told the guy that's all we have been doing. So he tried calling and got an India rep that wouldn't understand he works for Option One. How ridiculous is that.
Right now our only option to keep our home is to set up a repayment plan. They offered a loan modification plan but it's not guaranteed approval and takes up to 30-60 days they will sell our house by then!
The repayment plan consists of: Total $ to repay - $9408.26 over 9 months PLUS $4000 down payment due 8/15/07. Breakdown (4 payments (may, june, july, august)@$1737.97, late charges $347.60, appraisal $4.70, property inspections $9.60, foreclosure fees $2009.48, BPO $85.00).
Our monthly payment is going up $697.42 for 9 months! Ouch! The down payment of $4000 would have covered May and June and part of July. Everytime we call we keep telling them "Instead of helping people get caught up you hinder them by foreclosing and want them to set up repayment plan where their mortgage payment is $700.00 more every month." That's not policy it's down right robbery! Are they waiting for us to default on the repayment plan so the foreclosure proceeds and they get our house.
This can't be business as usual. Option One shouldn't get away with this and there has to be a lawyer out there that will take on the case.
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