San Diego,CA-We have an associate that was handling his own modification with the bank. Having signed documents and making payments he thought everything was just fine. He started getting notices about an auction and would call the company with no response. When he reached his one contact he would state yes we received your payment.
He finally reached the other contact from the auction paperwork and actually confirmed that the house was set to go to auction even though he had been making payments....CONFUSED YET!
The challenge is that there was a 1st and a 2nd and apparently they made the modification to only one of the loans. So while our associate was in good faith making a reduced payment the other loan was going to default. The right hand didn't know what the left hand was doing and both loans were with the same company. We will keep you updated...
This is just another example of why" Lawyering Up" regarding the negotiation of a Loan Modification is the best idea. Just think if this happens he just made payments on a dead loan and he will have to move his family right before the Holidays. SCROOGED
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