Was contacted by 1st Liberty regarding lowering interest rates and payment reduction on my mortgage. Was told of a processing fee of $708 for 4 months and told of weekly communication as to progress of restructuring of loan. Being recently retired, this was a good deal. 1st payment came out of my account from a company called Meracord. I knew nothing of them but was able to contact them and found out they were a loan servicing company that processed funds for 1st Liberty. Finally contacted 1st Liberty and was reassured of program and that reason for lack of contact was because of recent storms knocking out power on east coast also affecting phone service. I closed fraud case with bank and reopened acct. Payment was taken and everything seemed fine. Just prior to Oct. Payment being taken received call from Jay Carter stating that all was on track and would be receiving papers in the mail of info I needed to fill out to finalize program. When the papers did not show up, I began calling and could not reach anyone for over 2 weeks now. I contacted Meracord, the servicing co., and found out they had received notice from their home office to stop doing business with 1st Liberty Consultants and they had put a hold on my account to stop taking payments. Just hoping now that there is a way to recover the three months payments that they took from me.
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