I got a loan from First Franklin Feb '06. I eventually fell behind because of hours being reduced and then I was finally let go last Jan. In February, I finally got with the loan modification dept. I was told it would take around 45 to get back with me on if I got approved or not. In the meantime, I was told not to pay any of my other bills so that I could save up enough to get back into their good graces.
In August I was told to pay $850 for 3 months. Mind you I am still not approved at this time and I have not paid any other creditors per instructed.
Finally I get the go ahead in December, 11 months later.
Mine too was a reduction in the intrest rate by 2 points, but by the time they tacked on the lawyers bill and whatever charges they could come up with, my payment was the same if not higher.
Adding insult to injury, I was not approved for a fixed term, rather another ARM which would adjust in another 3 years.
I am now filing chapter 13 and my sheriff's sale is scheduled for April 15th. When I called them 2 weeks ago to see if I could get another modification, they said sorry, we only do that once every 12 months or so. I could take it or leave it.
Last week I got a notice telling me that I have over $3000 in overpaid escrow but I can't have it because I have fallen behind. My lawyer is working on this as we speak although he didn't sound too hopeful.
Now, I have to find homes for two of my three dogs because most places won't take that many dogs.
My life is ruined because of their lack of compassion and flexibility. Not only will I have to move, but my family gets split up forever.
If anybody wants to do a class action lawsuit against them, let me know! Oh, yeah, they are now doing business as Duetche Bank. Run, run far away.
A_Stoops@att.net
