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Loan Modification / Unhappy with Service

1 San Diego, CA, United States Review updated:

In early July 2008 we contacted People's First Financial Services to help us get our mortgage loan modified. We were sitting at 9% interest on an ARM and were already behind by one payment. Mr. Allen White told us that in order for People's First to act on our behalf we would need to send them approximately $ 3, 000.00 and various financial documents and financial worksheets to get them started. We were instructed to stop paying our mortgage in the interim as they (America's Servicing Company) would most assuredly roll any missing payments into the back of the loan. We have made numerous attempts to contact someone at People's First who could answer our questions or give us much information as to what the status of our account was. We finally decided last week to contact a local realtor for advice. We found that due to the amount of time that had elapsed and the number of delinquent payments we had one option and that was to short sale our property and move on. We have decided to do just that but would like to make our dissatisfaction known so that hopefully no one else goes through this. It has been an extremely stressful situation for both my husband and myself. We had to scrape together the initial $3, 000.00 to pay them and feel that we deserve a partial refund of our payment as they did not help us with our loan. I did get a call today February 2, 2009 from Corrin Francisco informing me that our mortgage company had cancelled the foreclosure and were willing to discuss the modification. I do not believe that People's First Financial has lived up to their initial promise and would not recommend them to anyone seeking help with their mortgage issues. We will now be selling our home in a short sale and moving on with our lives. Hopefully it will not take years to rebuild our credit but I fear it will take a long, long time to repair the damage.

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Comments

  • La
      29th of May, 2009

    Try calling The Habashy Law Firm and Legal Debt Solutions. They did my loan modification and i have referred them a few of my friends. We are very glad that we signed up with the right firm. There website is www.stopbanks.com. Its a breathe of fresh air to know that these guys are around and really helping homeowners. Larry C

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