Caliber Home Loans review: Loan Modification - Scam!!!! 53

i have also been dealing with this **** company. i get behind a little bit and they start with the threats. i have sent two payments to cover what i missed and they send it back. saying it is not enough to cover default. what kind of company sends money back? i too have been treated very rudely. made all my good faith payments and still not good enough. people hear are very very rude. dont deal with them if you dont have to.

Well once again sounds like we are all in the same boat with this company called Vericrest.. We have never mised a single payment, , BUT they are showing us being late for the last 28 months I do not have to tell you what that has done to my Credit Rateing..28 months 30 days late.. This all started when Citi, , Bundled the morgages to this rip off company.28 months of late charges plus the payment they lost Plus my good name restored through the Credit score agencys.We have filed a complaint with the BBB, Better Business Burea..We noticed 79 complaints after fileing with the BBB 52 complaints have been resolved by Vericrest.. Ready to jump on the BBB ship.. I highly recomend fileing a complaint..

I'm glad to see I'm not the only one that has issues with this stupid company! I applied for a loan mod, and stated in my required hardship letter that I had been layed off from job and that my unemployment had run out. I was denied because I didn't submit a pay stub? Well DUH! Apparently they don't bother reading the hardship letters they require us to send in with the modification request! There are also other issues I have with this company regarding their communication, or should I say LACK of communication!

Hope everything turned out good for you guys. God bless.

My husband and I have been in this process since APRIL 2010! We were with Citi Mortgage, went round and round with them ("lost paperwork", didn't "qualify", then tried again per there suggestion...we were told we were in underwriting and that our mod would come through within a week, and then we were sold to Vericrest).
I have said all along this is a long and unending process and there is NO ONE out there to help us. An attorney won't do any good and no supervisor in these shady companies will help either, this is just how they operate and can get away with it. The only bit of good would be a direct line to the President, and no one has that either!
So sad and frustrated. All we want is to make our monthly mortgage payments less. We pay our bills, keep up our house, are raising our toddler son and just need a little help. THAT IS ALL!

All I can say is stay away from this company ! The goverment should step in, something is terrible wrong..

We went thru a similar situation. Our modification took MONTHS and it's only for 2 years which will be up shortly. I'm sure we'll have to go thru the whole thing again. Right after we accepted the modification, they raised the monthly amount due because of the property taxes and home owners insurance. Not looking forward to starting this process over after reading all your comments. I hope it all works out for everyone!
Good idea about contacting the credit union, will have to remember that for the future!

Yes, My husband and I had the same problem. We sent them so many copies of checks, tax info. over and over. They would not answer. They would claim they never received items we sent. The time frame would keep changing. After a while they stopped accepting our checks. We finally had to get a loan through our city. Vericrest is very rude and not at all helpful.

Maybe things were different two years ago when I applied for a loan modification with Vericrest. I spoke to a lady and told her over the phone about the bills I was paying. There was no faxing, no mailing proof of bills or anything for them to lose. She typed in my information during our telephone conversation. It took about six weeks and I had to call once but I did get approved for the loan mod for a period of two years with no problems. Could it be because I was never late on my mortgage? I thought that would be the reason I would be turned down. I wish everyone luck!

My husband and I have faxed/mailed loan modification papers to Vericrest SIX times since 2008. Every single time, when we initially called to check the status, we were told that the modification was still being processed. Then, without fail, after a few phone calls (being repeatedly told the same thing), we were eventually told that they didn't have the papers and that we'd have to send them again. No explanation has ever been offered as to what happened to the papers. Of course, all the paperwork has to be updated before re-sending, which consumes time and resources. People (employer, bank, creditors, etc.) are irritated at having to provide us with the same documents/information over and over again.

As for hiring an attorney: If we had thousands of dollars to spend, we wouldn't use it on an attorney, we'd use it to pay our mortgage payments.

Posters have commented here that, if we all just do what Vericrest asks us to do, we'll be treated fairly. It is arrogant and condescending to assume that -- just because you were able to get help -- the rest of us are doing something wrong. If we just try harder, we'll get the help we need? No. We won't. My husband and I are both intelligent individuals and we have jumped through hoops to meet Vericrest's every demand. It has solved nothing. This company is despicable and there is no way to reason with the unreasonable.

DO NOT USE VERICREST FINANCIAL! No matter how desperate you are, it has taken away everything we had and wanted. emotional, mentally and physically it has made me sick. It's sad when your kids come to you to talk to you and you say" I'm on the phone with the bank and they reply... we'll see you in a few hours then" we just got a pay off price almost $5, 000 more then June's payoff...now, I have requested proof of all activity on my account! We'll see what happens next!

If you wan to apply for a loan modification then do fax over your paperwork...they have many requests for loan mods...make sure to write your account number on all documents and follow up within 5-7 days to confirm that it has been received and it is going under review. Depending on the account staus it can take 8-12 weeks but you need to be proactive in calling and making sure that they have everything. And in your harship letter if you say it is due to the economy and you don't show a true harship then it's not going to be approved. The harship shown depends on how long the loan mod is approved for. You're DTI (debt to income) is depentent on how low they can adjust the rate. If you have a good credit score and you have equity in your home GO REFI...A loan mod is normally a temp fix..And on the Refi partners, they really do take less than what the home is for a majoity of the time. If you have a harship TRY TO MAKE YOU'RE PAYMENTS. If you do a loan mod then yes they will defer that amount but you have to pay it back at the end of the loan. They honestly don't want more homes, look at the economy think about how many people need help. Vericrest is not a large company. If they ask you to submit newer documents, it is because they want to insure they have the proper budget information...Say you sent in your loan mod packet and the fax only sent over the first sheet...it won't even be opened for review until they have all the required documents. If you follow up you can't go wrong...honestly...Remember you signed the note to pay the payment amount...and Vericrest Financial Inc is not goverment funded so this is all them helping you out...you just have to follow up...there is such a high demand for loan modifications...be proactive...it's YOUR LOAN!

I am so glad I found this page! I was starting to think I was crazy! My husband and family thought I was misunderstanding this company for the past 3 years! I refuse to pay 1cent more to this company, I am selling my home because of the stress and the payments that never seem to be the same.When I do call to make a payment they tell me I have a credit! How the H#ll can I have credit when you say I'm behind! But today I spent over an hour on the phone trying to get them to pay my taxes for 08 and 09, 08 is so default my house is on the sheriffs sale block! I paid escrow for 08 and 09 why are the taxes not paid! Anyone have any idea on what I should do to get something done? I am thinking filing a complaint to the attorney generals office but someone said that is useless! This financial company has made my life so stressful, I actually am depressed to the point that I am having a hard time functioning in day to day things!

My suggestion would be to do some research. Most loans are owned by Freddie Mac(FHLMC) or Fannie Mae(FM). Find out which one of them owns your loan, usually it will be listed on your credit report. Call them to complain about the service or lack there of. These are servicing issues and are NOT tolerated by the investors, FHLMC or FM. They do not want you to default nor do they want to foreclose. You will need to make sure you have a record of all payments and keep a log of when you called the lender(Vericrest), who you spoke with, what the conversation pertained, and the outcome of the call. I deal with these issues on a daily basis and I can tell you there IS light at the end of the tunnel. DO NOT give up! You have to keep calling the lender(Vericrest) to check the status of your modification. Find out who your modification councilor is and get their extension and continue to call the councilor. You do have to have some kind of income though. Student loans will not suffice. Remember, loan modifications are not a requirement; therefore do not get nasty with them. I know it's super frustrating but hang in there! I wish you all the best of luck!

WOW! I BELIEVE I HAVE YOU ALL BEAT, WE HAVE BEEN TRYING TO SECURE A LOAN MOD. WITH THEM SINCE **SEPTEMBER 2009**. IN SENT MY REQUESTED PAPERWORK IN AND WAS TOLD TO FOLLOW UP IN 2 WEEKS AND THAT I DID. THEY THEN TOLD ME ANOTHER 2 WEEKS. AT 4 WEEKS, I FOLLOWED UP ONCE AGAIN & WAS TOLD MY INFORMATION WAS OUT-DATED AND THAT I NEEDED TO (ONCE AGAIN) RESEND IT IN. omg! i could not believe it! STILL TO THIS DAY I AM FIGHTING WITH THEM AND BECAUSE OF THEM MY CREDIT IS NO LONGER WHERE IT SHOULD BE IN ORDER TO MOVE ON WITH ANOTHER MORTGAGE COMPANY. THEY HAVE SCREWED ME SOOO BADLY! I TRUELY BELIEVE THAT COMPANIES DEALING WITH YOUR FINANCIALS AND HEALTH SHOULD BE REQUIRED TO FOLLOW SUCH STANDARDS THAT PROTECT THE BORROWER, NOT THE LENDER! THIS SORT OF CRUELTY SHOULD BE AGAINST THE LAW-LITTERALLY! WHO SHOULD WE CALL OR WRITE TO GET SOMETHING GOING? I WILL DO WHATEVER IT TAKES TO GET SOMETHING DONE, SO OTHERS DO NOT HAVE TO EXPERIENCE WHAT I HAVE (AND THE OTHERS WHO'VE WRITTEN IN HERE)

beware of this company. Just rec. 2009 tax statement saying we paid mortgage interest rec. from payer. Well we don't even have a mortage with anyoone. How about that.

Vericrest has a button on their website for "Request Payoff" but it is not correct for paying off the balance of your loan, if you read the fine print on each statement, you must call a rep at their offices in order to process a payoff of the loan.
I paid the balance of my loan by this online method, and although after the transaction my account said, "Balance: $0.00" the very next month there was a bill for $123.22
When I called about it, they said it was because a check was returned for insufficient funds, but according to my bank, I had more than enough funds to cover the check through the duration of that period.

I know this was just a clever way by Vericrest and CITcustomerEdge to get an extra $123.22 out of their customers who pay loans off early as a way of recouperating lost interest.

I am very upset that Vericrest had a "Request Payoff" button on their site that completely worked but was not 'valid' and that they stole $123 of my money.

I dealt with Addie at extension 4770, their number: [protected]

I would never recommend Vericrest or CIT Customer Edge to anyone I knew.

Sincerely,

Jeremy

Well, we are in the same boat. Our house was paid for and we decided that we would add on to our house so the kids could live at home and go to school. So we did. The company that we hired to do the work went through went through Wilmington who is CIT who is Vericrest now. Imagine that. We didn't realize the connection at the time. So as of now, the house isn't finished, what part was done is falling apart, and we can't get the bank to modify our loan so we can find someone else to finish the work. We can't afford a lawyer or we would have gone that way. Which means that we can't afford a lawyer to go after these people either. I use the word PEOPLE very loosly. Garbage would be clooser but still a long ways away... What we all need to do is pull our resources and band together and file a criminal suit against them and clean their clock so bad that they never want to show their faces again.

Don't feel lonely with your complaints. My husband is recently disabled and we have two young sons both in college and an enormous amount of medical bills. We requested a loan modification with this company 5 months ago and are still getting the run a round from them. They are threatening to forclose on our home that we have lived in for over 24 years because we got behind on payments. What made this worse was that they refused to accept one payment from me unless I set up electronic bank withdrawals for the next two! You think they would appreciate any and all effort those of use are making to save our homes, credit and get this extremely degrading rude company off our backs. So even when you are striving to do your best, they will not accept it. Remember us in prayer as we, like so many of you, do our best to get back on our feet from an unexpected tradegy that Vericrest continues to compound. Our prayers are with each and everyone one of you.

I am one of those that went through the long process of applying for a loan modification. I did receive it. Everyone I dealt with was extremely kind. I too was in forecloure while waiting for the process. I was going back-n-forth to court as well. I was stressed but it did get approved and it took about 6 months.

I went through the modification process and while it did take longer than the 3 weeks I was originally told, I expected as much. From what I understand most of the country is trying to get assistance, so it stands to reason that 3 weeks was the optimum situation. I reality it took 4 months. I began in July, with a fixed rate of 8.99 and 2k a month note and now have a 4.80 rate with a1400 a month note that includes taxes and insurance. This rate is set for 5 years and I hope to have done my part to improve my credit and enable myself to get a loan that is not subprime and avoid this issues in the future. I understand everyone is angry with the process. But I had to step back and be grateful for the help I received because in actuality, they didn't have to do anything. I signed the loan for a rate that was crippling me. I had more loan than I could afford. Nobody held a gun to my when times were good and made me take the loan, I did it. I hate to sound preachy but we have become a nation of people who think the world owes us something. Now I understand, if you give a dnace, you have to pay the band. Just like folks are chomping at the bit to get relief, I bet you were chomping at the bit for a closing date a few years ago to overextend yourself. Someone mentioned that they bought a house that was worth $360k now it's only worth $165k. Yes, that's a steep decline but it never really was worth $365, it's worth what the market will bear and what it's worth to you. You just happened to buy something you wanted at the wrong time in the market. Anyway, we'll all get through this, come in off the ledges people!

I agree with everything you guys are saying Vericrest is a RiP OFF I actually refinanced my home through them with First Guaranty Mortgage. I went through all the red tape credit check paperwork everything I started this proscess in May of 2009 and finally got approved on my home in August of 2009. I had a young lady to come to my house on September 8, 2009 for me to sign all the paperwork for me to close. With the new company my first payment wasn't due until November 1, 2009 I have all this in my paperwork from when I closed on September 8, 2009. The RUDE, DISRESPECTFUL, UNPROESSIONAL, people at Vericrest are telling me that I still owe them and that no one came to my house for me to close on this loan even though I have the paperwork from my closing. Here's the kicker with me on November 10, 2009 I had a knock at my door it was the mailman giving me all my mail alone with a certified letter from Vericrest stating I was three months behind on my mortgage and if I didn't pay it by Dec 6, 2009 they were gong to take action to foreclose on me. I have been living in my home for 15 years and have never had a problem paying my mortgage THANK YOU IN THE NAME OF LORD JESUS. We all know our payment is do on the 1st of each month but you get until the 15th I may not pay on the 1st and maybe not by the 15th but my mortgage in paid that month. I can't afford to make a double payment they get there money every month but yet those low down dirty people are telling me I am three months behind after I have already closed on my home. They want me to make a payment every two weeks until I am caught up and I don't owe them the other scary part First Guaranty Mortgage who I refinaced with work with them. I have other bills that I have to pay every month also but they don't care about that they want me to pay them. I had this RUDE stupid lady say to me the new mortgage company wants to make sure I was going to be able to pay my mortgage I told I told her I was going to call them myself and she said go ahead they work with us. With vericrest I have a 8% interest rate not including my taxes and insurance and I am paying $818.53 a month with the new company I have a 5.5% with taxes and insurance included and I will be paying $816.58 a whole $1.95 less WOW. Now can someone please tell me why I wouldn't be able to pay my mortgage Vericrest is full of BS I hope while people are reading all of these nightmare stories that Vericrest are putting people through that somthing can be done. I hired a attorney this is bigger than me so i've decided to put GOD first and let my attorney handle them. I refuse to lay down and allow them to take my home from me that I have worked hard to get and keep I think they feel if people can't afford to pay there mortgage how can they afford a attorney. GOD is good keep praying and keep your FAITH that's what I am going to do even though it's hard I have to do what I have to do until my attorney get this straighten out. I am going to keep paying my mortgage because that's what they want us to do is get behind on our mortgage and take our homes from us. My heart goes out to the ones who has already lost there homes but GOD has a bigger and better one for you. And for us who are going through this nightmare with Vericrest Keep the FAITH GOD will fix it for us in JESUS NAME I PRAY FOR EACH AND EVERY ONE OF YOU AND PLEASE KEEP ME IN YOUR PRAYERS. Oh my GOD it's hard for everyone even with two incomes I am a single mother with one income and I don't make alot of money I thank GOD for my job but it is still hard I even pray for the RUDE, DISRESEPCTFUL, UNPROFFESIONAL people at vericrest GOD SIT HIGH AND LOOK LOW he see what they are doing we may feel as though ours backs are up against a wall but watch GOD show up and show out for each one of us were going to come out with the VICTORY. GOD BLESS ALL OF YOU

Well I know what you all are going through, my husband lost his job so being the nice person i am I called them to tell them what happened they said well nothing we can do. So when He found a job I called to let them know and they defered 3 payments and then sent us a bill for over $5, 000.00. When I called to find out what that was for and I never got a straight answer from them. After getting a lawyer to send them a letter then that is when we found that they said that we owed them that for the payments they defered plus the intrest. The sad thing is I never told them to defer the payments. We also were charged $9.50 for everytime I spoke to them. We started out at $161, 000.00 and 1 1/2 years later we owed them $175, 950.00. We had paid them over $30, 000.00. Also they took the checks that we sent and cashed them at several different places. I really wish there was something that we all could do because theis really stinks.
In Florda

Ok I posted before, in June or July, about how nice they were to me. Now, I'm posting again. I am now behind over $8000. It's a long story of how that happened, including death and lack of work. I just talked to someone the other day, and you'll never guess what I was told-I need to re-submit everything AGAIN. Gee, doesn't that sound familiar. When I told the guy that I was trying to get help from other places, such as I had applied for a small loan thru my bank, I was told, "Oh no. Don't do that. We will get this taken care of". He then proceeded to tell me, I could pay half of what I owe, and they could split the rest of it and add it to the my normal payments, or, I could continue on with the home modification stuff. If I had $4000, I wouldn't be in this prediciment. I just keep my fingers crossed. And pray they can actually help. I have 2 younger children, 1 of which is disabled. I can't lose my house!

i do loan mods for a living. They often take 30-120 days on average depending on the bank. So it is a VERY lengthy process and can be extemely fusterating!
Here are some tips:
-you must call at least every other day (seriously)
-make sure you have been assigned a negotiator, ask name of negotiator, ask for contact info for negotiator (often they will not give this to but ask anyway)
-ask if they have done a bpo, ask if they require a bpo (this is a evaluation of the house value) some lenders require some don't ask, if not order insist they order or find out when they will be ordering it.
-ask they're normal turn times in getting it assigned to a negotiator, ask the turn time once it gets assigned to a negotiator till we get a final decision. Hold them to this. Ask for a manger/supervisor if your not getting the right response.
-If you have an owner occupied property, ask them if you can please do a financial interview over the phone to be approved for the HAMP (home owners affordabilty modification program)
-If they tell you your investor doesn't participate or you are not approved ask them to do a financial interview over the phone for a traditional loan modification.
-Often times they will ask for the same document mulitple times, or for paystubs to be updated every 30 days, etc. this is VERY annoying, but just do it, do it as quick as possible. Always try to fax or email information in to speed up the process.
-ask if a foreclosure date is set, if yes ask for date, don't panic, ask for the lawyers name and number, call lawyer explain you are in the loan modification process and can they please mark the account as such, they will most likely tell you they can not postpone or cancel it, call back lender tell lender you need a decision on the modification at least a week before foreclosure date or can they please postpone it.
- if they say no foreclosure has been set but you know that your several payments behind, ask if it has been refered to a lawyer, if so get name and number and see above, if not ask if it has a publication date, or a pending date to go to legal.

when in doubt NEVER be afraid to ask for a mangager or INSIST to speak to a manager
any and all companies have to by law encourage you keep paying your mortgage, i always tell clients if you can't make a full payment make as much as you can mail it in (a lot of banks deny partial payments by phone or internet) but if you mail it in they will either apply it to your account or hold it till they have a full payment. While this won't necessarily 'catch you up' it will show the lender good faith in trying to keep your home, and in addition if they require you to make a downpayment on the mod they will something use the funds they are holding to go towards that.

collections calls/letters ect. will continue until you have a FULLY permenant modified loan. So if you are in a trial plan, or just in the process of loan mods calls and letters will still come, do not let these frighten you as you know you've taken the proper steps.

Well, I agree with everyone on this page, they are horrible. I did a "so called modification" in Nov. 2008 and they reduced my payment $5.00, yes $5.00. and fixed my rate that was at 7.23 to 7.0. Now that my husband and I are still having hard times they said they could not help us anymore that they already helped us. And, just 4 months ago they said they could in Nov and now that its Nov. they tell me now that it will be another year. And, I explained to them that I was told this Nov. and they said "well things change, Sorry". So we went through a company called NACA that submitted our hardship and they have not responed at all to them. So, yes they are a SCAM and a I hope nobody in that company sleeps at night, mainly the CEO, because really it's all in his hands. And, GOD don't like UGLY!

I applied for a loan mod Nov 2008, I had on numerous occassions sent in the same information multiple times, I have spoken with both nice and rude people (take names and Id # and dates of phone calls, emails, etc). If you are in dire need you MUST stay on top of them. Your home is your responsibility, no one else cares about your situation. You MUST do what is required of you, do the research, take time from work to send the information in. Beg, plead, Cry do what ever it takes to get what YOU want. I did this exact thing and I was approved for a lower interest rate (8% to 4%), it took almost nine months (ridiculous). Everyone take charge, nothing is free! You will spend a lot of time, but believe it will be worth it in the end

I too dealt with them, I am a single parent and was finishing up nursing school when I fell behind on my payments in Sept of 2008, and was due to graduate in Feb.2009 as some of you might know just the stress of everyday not to mention trying to graduate and about to lose your home. Well in Feb I applied for the modification, sent in all required information and called once or twice a week. Finally on April 27th a Brenda and a gentleman called Guy who I dealt with the whole time called to tell me it went through from $1132 per month to $886 per month with 6% fixed. They also forgave the five months I was behind on. All I can say to all of you keep being persistent and lots of prayer, you have to think positive and everything will work out believe me I had many days I would cry and my 5 year old would ask where are we going to live and why do they want to take our home..bless all of you

Sandy

I have been very nice to every one I talked to at Vericrest, and believe me I have experienced the same problems!
It seems since they went from CIT to Vericrest it went to poo.
One lady told me that I was approved for my loan mod in April just to wait on Fedx to bring me my contract. Then I called every month to make a payment, so I wouldnt' go into foreclosure, but I still was behind. They also told me that I would have all my past payments go to the end of my loan once I became approved, for my loan mod.
I asked them every month about my loan mod, and they said, yes, just wait on the Fed X package, you are approved. Then 5 months later, I was told, I didnt' send everything in, and I needed to resend EVERYTHING back in. All the while, I am expecting any day for Fed Ex to bring me my contract and for Vericrest to lower my payments by about $200. So, I redid everything, sent it all back in, and it has been over a month, and still no Fed Ex package/contract. I wonder if it will ever come?

I am very sorry to hear about everyone's frustrations but I have to disagree. I've had nothing but good experiences with Vericrest. Yes, it took almost 4 months to get my loan mod completed and I talked to just about every employee they had. But I NEVER spoke with anyone who was the least bit rude and they dropped my adjustable rate mortgage from 12% to a fixed 6% AND they deferred my payments to bring me current. Maybe you all should try being nice to the person on the other end of the phone.

My husband and I are going through the same thing. We originally contacted Vericrest Financial in March 2009 to seek some sort of help with our mortgage because my husband lost hours at his job (by August 2009 he was laid off). All of the necessary paperwork was faxed to them, as they requested, and they asked me to call back in two weeks. I called them, and they didn't have any record of my in the Modification department. Little did I know, at the time, that this is how the entire process would go for FOUR MONTHS.

After four months, loads of frustration, and lost paperowrk, they offered us a loan modification. They were going to lower our interest rate to 4.0% for two years. Then, less than two weeks later, we were contacted by Prime Lending (a loan company that Vericrest works with for refinances- mainly short refinances) to lower our principle that is owed on the home. The appraisal came back much lower than expected; ultimately, we owe more than double what our home is worth right now. After a month of waiting, we were denied. And after several hours on the phone and four different representatives, we found out that Vericrest was not willing to take that much of a loss so it was denied.

I work at a financial institution so I understand what they are going through finacially. But, at the same time, why are they willing to take an entire loss (of over $300, 000) when, they could recover at least half of it by reconfiguring the loan for us? Especially since they are not going to be able to sell the home for what it is worth? Can anyone explain that to me?

Good luck to everyone out there that is having financial troubles and is trying to work with Vericrest Financial. My only word of advice is PERSISTENCE. Call them everyday, be nice on the phone, and strongly request them to give you the information that you need.

My husband and I are going through the same thing. We had been working with Vericrest since March 2009 to get our modification done. Finally, after four months of them losing all of my paperwork and extreme frustration, they offered us a temporary rate reduction (reduced to 4.0% for two years). Then, they offered to do a short refinance a couple of weeks after we signed the loan modification for the rate reduction. A month later it was denied because we owe more than double what our house is worth. We were told that they are not willing to take that much of a loss right now and they will not review our loan/situation for a second time. We were thinking about getting an attorney, but we haven't decided for sure yet.

They are beyond rude. They show no empathy and only wants to know how much mony have you saved so far. I have submitted my info since the 2nd of July. My sale date is in a few days 10/6 and they have not postponed it. I have been calling them but they claim that there is still time. I can only put it in GOD'S hand.

I am surprised to hear that other people had their payment dropped by Vericrest. When I asked for a loan modication, they raised my payment by $300. My homeowners was attached, but even when I got individual insurance, they would not lower the payments accordingly. I am now once again facing foreclosure. I have recently hired an attorney to help with the second modification. Hopefully this will help.

*VERY RUDE AT THE LEAST

yeah we are dealing with the same company, same situation and they finaly after a YEAR have sent us a new B.S. contract. Only taking off $300 from a $2600 payment . We first started this process wit CIT group. they gave us three different negotiators because the others either went on matunaty leave and othe other vacation z(without telling us and letting it go a month to two before the next negotiator) . Then They Sell the company to Vericrapp (oh Did i say that I ment Vericrest) or just "Switch names" .

When we Singed and Sent back the new contract, Then guess what happend ? Two weeks go by and now they have foreclosed our house when the payment isnt due untill Oct.1st ! they said the sent us TWO papers, One being the new contract and the "other" (that we NEVER got) was stating that we were to send a "GOOD FAITH PAYMENT' with the new contract for it to be accepted.

This has been one tuff ride ! A YEAR ! when we were only Two behind when we started this Long Messed up Process.

AND YESSSSSS most all of the people we have spoken with are VERY DUDE AT THE LEAST ( and That was ne Being Nice)

So we have filed BK to stop them for now . we are still fighting it to the end

sad thing is we are ready to start the payments as they "said" but then they go and pull this crap .

I was with Accredited, and was sold to Vericrest, the first of this year. I received a welcome letter to the fact. Then I received a phone call, asking me if I wanted to refi, home, and of course, I did not. But I did want a lower intress rate. I was told, to write a hardship letter, as well as send in my bank statements, and a list of my bills for 3 months. I do so, with the help of my credit union, where I do all my banking. Helped me every step of the way, by faxing all info I was told that this was going to take at least 6 weeks for them to do. I started calling after the 6weeks, to get updates on my loan modification. Every time, I called they said I was being taped, And I said good, I hope I am. Each time, I called I would get a different person. I started this all in April of 2009, and by August, I was told my loan modification had gone to underwriters department. I started calling weekly to find out when things were going to be modified. I talked to one nice person, name Mike, who said that it was going thru. And that my payments were going to lowered. OK, this sounded good, and I was not behind, but it was getting harder to make payments, but I was doing it. My husband had been laid off for close to 2 years.

Then September 11th, I received a fedex package. But all my paperwork was back dated to August, and it stated, it would have to be return in 10 days, the 10 days from the date had well gone by.. I called them and they wanted the paperwork signed anyways. I went to my credit union, and they said I needed to get new paper work with the right date on it, so I called back again, and told them what my credit union said. So they sent me out NEW paper work with update date on the paper work.

Very hard to understand the paperwork, the way it was wrote. It sounded like I was in forecloser. All upset by this, I went to my credit union for advice . My banker did not like the way the document was wording, so he called Vericrest and with me sitting right there, got all the info for me, in terms I could understand, how ever he did not want me to sign any statement that I was in default or behind in any way, as I was not. But they said that was there standed document. So, my banker crossed out that part and had me sign it and date it,

It got Kicked back they did not like what we had done, so I asked them if I could add a document stating that I was not behind, or in forcloser, sign it and noterise it. They said I could. That was the best I could do.

My advice to any one doing this type of thing, to go to there bank, or better yet be a member of a Credit Union. They are for there members. To a big company your just a number. And there are many suffering. To your credit union, you are the Credit union, and they count on you as much as you do them.

The cost for help from a credit union for helping me was O.

Good Luck to all, we are in hard times, you need to understand everything, if you do not seek help

I work for a law firm and do foreclosures - but I too have been hit by this economy and became behind on my mortgage. These mortgage companies have so many loan modifications going on that they can't process them in any timely fashion. It is taking 8-12 weeks to process. I requested a modification in April. I received a Fex Ex July 14 1approving a loan modification which dropped my payment $500 a month. From that point forward I contacted them regularly to find out when the new payment would change, etc. I was told not to make a payment until I received a new statement with the new amount. On 9/7 I received a new statement showing me with a 0 past due balance and with my new payment being due on 10/1. I have called and spoken to many people there and have had many call me - I have never spoken to somebody who was rude to me.

Just wanted to state that I too have spoke with some really rude people that talk down on me and treat me like im not human. I already know that i was behind and i didn't need them to throw wood to the fire. But I do have to say i did speak with some gentalman nam John extn. 4718 that understood me and never put me down or even made me feel like i was less than human. He really understood me and the situation that i feel in. I bought my home 4yrs ago at 360, 000 and now the market has changed ! The home is worth 165, 000 and this has placed stress on me with jobs hard to come by he still made me feel like there is a light at the end of this tunnel. Just waiting on my loan mod and John has returned all my calls and i enjoy talking with him.

Sorry Guys! We also have our mortgage with Vericrest, and have had different results with the loan modification. We did have to resubmit the info more than once, I will tell you that. Not sure what goes on there to loose the info, but after determination on my end and frequent calls to check if it had been received, it was received. We went from a 12.5 % ARM to a 5% fixed! Dropped our payment in 1/2! I have never talked to a rude person, and always seem to get the same ones. I don't think they have many customer service people.
So, all in all, TAKE CHARGE OF YOUR OWN LOAN! YOU are the one who needs to do the work in making sure the info is there. If you want something bad enough, you can suceed :)

I have been trying to get a modification since June and I am upset because if they know paper work is missing or needs to be resubmitted they never bother to call they put it all back on you and are very qquick to suggest to you to do a Quick Sale of your property in todays economy are you serious? Supposedly now they are working on my loan and I should receive something in the mail shortly but best believe I won't be holding my breath!