Since December we have been going through this loand modification process. The company stop excepting our payments saying that we need to get caught up, but they don't except partial paments. The payments that we were submitting were being appropriated to some other fee anyway. They sent back several Money orders and cashiers checks for the amount of the mortgage.
A letter was sent to them along with all the documents needed under the Obama Loan Modification Program. Which did not include anything about a profit and loss statement. Later I received a "phone call saying that we needed to attach a 60 day profit and loss statement". This call came at the beginning of May, we submitted the profit and loss statement upon request. Only to find out that they said they had not received it. It was submitted again and again. Later on the 28th of May they said they still had not received it. Yet among piles of confirmed fax statements it was sent again. Somehow they recieved the staterment. Oh by the way they said that they did receive it on May the 5th.
Four days later we called to check on the status of the house only to find out that they had foreclosed on the house. The answer I was given was because they did not receive all the paperwork for the Modification on time, April 29 (i.E. - profit and loss statement) and when that happens you must start the process all over. However when I was contacted on or around May 5, I was only requested to send in a 60 day profit and loss statement in which was done. No one ever said anything about starting all over again, I did exactly what was requested of me. Later on June 4th, I was told we did receive your information but it required a 90 day profit and loss statement.
Since that time we have been trying to discover who even owns the loan, they will not tell us and now what do we do. We don't even know how much we can pay or even if there is a redemption period. Representatives of the company tells us that we have to pay $38,000 by July 29th, the companies lawyers says there is no redemption period. We are in limbo trying to find out what to do.
Steve
Hyattsville, Maryland
U.S.A.
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