I was having financial problems because my mortgage had gone adjustable and the mortgage company had raised my interest 3 points! I couldn't make an additional $550 a month, so I was trying to work with them. This company was Saxon by the way, and they would not do anything about it. They kept saying they were in the process of reviewing the paperwork I submitted for a loan modification.
They sat on it for three months, and I couldn't even talk to a real person whenever I called. So, desperate, I decided to try this company that sent a solicitation in the mail. They sounded good, and when I talked to a representative, I was told that they would negotiate with Saxon from then on, and I did not have to worry about a thing. They said they would use every way possible to negotiate a workable solution for my situation even if they had to go straight to the bank Saxon was working for and even if they had to get lawyers involved. They actually said, "Just take a break and don't worry about this at all. We will take it from here." I felt so good after that. I really thought they would do something.
Well, I waited a couple of weeks, and nobody called me back. I called FHA (which, by the way, I had originally believed was government related because of the "FHA") and the girl working on my account said that she had contacted Saxon and they were still reviewing my case. Well, that was what I had told them in the first place.
Then, I kept calling because the foreclosure date was fast approaching, and I wanted to make sure that something was going to happen before then. Two days before the foreclosure date, I called FHA (notice they did not call me) and they said that Saxon denied my loan modification request and was offering me the option of paying all my arrears within two days in order to stop foreclosure. FHA did not do anything. They did not postpone the date of foreclosure, they did not try to negotiate at all. They just waited, the same as I had been doing, for Saxon to decide if they were going to accept my loan modification request. They did NOTHING!
I demanded a refund and they said that I was not entitled to one because Saxon had offered a solution. That was not a solution at all. My mortgage was still 3 points higher than it had been and I was still behind on payments that I couldn't catch up on. They knew all that. They did nothing. I even called and sent certified letters demanding a refund, and they just ignored me. I am going to the Better Business Bureau next.
I finally got in touch with a different mitigation company called Evergreen. This guy named Casey got on it right away. He not only postponed the foreclosure date in order to get time to negotiate, he got them to fix my interest at the original rate for another 5 years and put all my arrears at the end of the loan. He saved my house. That was what FHA promised to do, but didn't. FHA is nothing but a bunch of rip-off artists.
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