My grandmother is currently in foreclosure and she’s trying to do a loan moddification via her loan company saxon mortgage, and if we are approved for the loan moddification, we need to pay $2,500-3,000 toward our escrow and pay lawyers fee’s(or most of lawyers fee’s). then we can have our interest rate lowered, as well as our payment. and whatever payments that we are behind as of now, will be placed at the end of our loan….and no more FORECLOSURE!!!…… We also have an option to go with a forclosure lawyer, here’s the email the lawyer sent me:
Robert,
Nice speaking with you today. As we discussed, the Foreclosure Defense Law Center specializes in stopping foreclosure and modifying your loan. We are a law firm with a team of loss mitigation negotiators and loan modification attorneys. (www.foreclosuredefenselawcenter.us)
The first step in the loan modification process is for our legal team to review your information to determine if we can help you in your situation. Also, if you have a copy of your original loan documents (RESPA/TIL), we can conduct a forensic audit to see if you were a victim of any predatory lending. If these documents are available, please fax back to us at fax #786 345-5809.
My contact information is toll free #888 572-8387 x323, or email jhopkins@foreclosuredefenselawcenter.us.
Thanks again and I look forward to speaking with you soon.
Jim Hopkins
Foreclosure Defense Law Center
Tel # 954 990-1599
Fax # 786 345-5809
jhopkins@foreclosuredefenselawcenter.us
Company Website: www.foreclosuredefenselawcenter.us
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They require a $2,000 retainer but they say that they will hold the money in an escrow account until the 45 day loan moddification is finished between the attorney and Saxon, they claim that they can 100% take care of the whole process and make sure that we won’t have to pay the up front costs to Saxon and get our loan current and fixxed. The say that the process is 45 days and would freeze our forclosure so we would not be evicted and they will solve our problems……….Help please with advice!!!!!
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Don’t you give them a red cent!!!! They CANNOT modify your loan no matter what legal mumbojumbo they throw at you: the only way to modify the loan is to work directly with the company that is servicing the loan and they can submit your financial information that YOU give them to either their board of directors (if they themselves own the paper to the loan) or if they just “service” the loan (handle day to day opertations) they will submit it to the actual loan investor. YOU can and should handle this YOURSELF. I work for a large mortgage bank that services many loans and we get thousands of unnecessary calls from these third parties who are basically leeching off of people’s misfortune; they will only be doing what YOU can do yourself. They have no extra “pull” and they cannot “make” a modification be done. I don’t care if you hire a lawyer, it is ultimately up to the investor (owner of actual loan paper) to decide if they will modify the loan. Any help you seek should only be from nonprofit agencies. Speaking from personal experience, I hate talking to these third parties. Just call Saxon yourself.