As with all of you, my husband and i lost our home to First Franklin. We had a arm loan. 80/20 at that. Bought in October 06. Interest rates 10.30 & 6.45 We were in our home 2 years . Asked FF to help us refinance through them. They stated that they would not help us . Told us to go get another loan to pay them off, that they would except a short pay off. Husband and i searched for 2 month. Keeping up with payments that adjusted up and put off other bills to try to keep our home. We found a government loan that was a new program. We got approved for loan . Had loan for 1 months. Contacted FF to tell them okay, we got a loan. Told us to send them paper work. We did . Contacted them a week later. They stated they never got paper work . Faxed paper to them. 3 days later we called to see if any one was working on our case. They stated, they never got the fax. My husband and i went round and round with them on the phone. The new loan reps tried to talk to them to see what the hold up was and let them know that we only would have a couple more months left for getting this loan. First Franklin told new loan company to stop calling them. I called them back . Asked, what are you people doing. We got the loan, are you going to help or not? You said you would except a short pay off. FF told us they had to negotiate. They got back to us later and said NO they would not except any short pay off. They would do a modification. Came back 2 weeks later, by then we lost our other loan. Told us they would do an extension of interest only again for 3 years with notarization and signatures. They gave us a ultimatum of take the loan or we lose the house to them. If that isnt predatory lending on a grand scale then we dont know what is. TNT DIAS
