by nowaq
(san marcos ca usa)
My mortgage is being service by Option One Mortgage co. It started with 6.14% and first reset 1-01-07 to 9.14%. I was behind on my payment on the first resetting I called Option to make arrangement payment but I was told that I’m not qualified bec. I’ve been late a month only and loan mod. is only for people who are behind for more than 2 mos. In my situation, a mortgage of $3655 plus a second mortgage loan of $378 is hard to come up with for 2 mos. Third mo. came I called again asking for loan modification but this time, I was dealing with people from India telling me to sell my house because I can’t afford it. I explained to him whats going on my side and requested to talk mitigation officer but this person said that he is the mitigation officer. I hung up on him. I received a notice of default after that. I have a sheriff sale on 8-07-07 but filed Bk 13 so I can keep my house and hoping that things will get better soon and be on track again. Don’t deal with sales rep. from other countries. Demand to talk with US reps that at least know whats going on here. Maybe if I was dealing with US reps. I was able to do loan mod. and not to go thru this foreclosure and BK. I’m hoping also that these mortgage cos. learned their lesson of not using sales reps from other countries. My situation was doable at the beginning but once past 2 mos. My loan reset again last 7-01-07 to 11.14% and by 1-01-08 it will be 13.14%. Also, if you have hard time paying with your credit card bills, don’t use debt settlement cos. The only time they can start negotiating for you is when you are in collection, they wont tell you up front. They will only tell you that it has to be bad in order to get better.
The Hedge 