A year and a half ago, I applied for a loan modification from Flagstar Bank. (Two years prior, I had refinanced with them receiving favorable service, only to find out later that the bank officer who assited in this process was let go.) To continue, I was told that I had to be 3 months behind in payments, I was only two at the time, so "made" myself three so that I could qualify for the modification; had been sent paperwork and promptly completed it and faxed it in. I was also working full time at that point; teacher for 23 years. In June of 2010, I lost my teaching job due to budget cuts. Called Flagstar to apprise them of my new financial situation, I had to re-submit paperwork with new information, hardship letter, financial statement, etc. Faxed it in. Then I was really in a crisis, no money and without "making" myself behind, I was. Called them, sent in new package of paperwork; advised that I had to get a full time job, but they would see which, if any, program I could be fit into. Then I got a part time job, and several months another part time job. In he meantime, I had garage sales, selling all my teaching materials, furniture, supplies. I pawned jewelry, etc. to live. At one point I wanted to make two mortgage payments attempting to pay something and get the total months behind, now 7, and was told they would only accept 5 out 0f 7 payments. Couldn't do it. Long story short, I got foreclosure papers, notification from Flagstar's legal rep. law firm. I called one of those fly-by-night companies that were always contacting me by mail and email (word travels fast) and hired them for $1500.00 which was just under my regular mortgage payment amount so that they could help me 1) understand in layman's terms what was happening to me and my home; 2) be able to communicate to Flagstar and then to me; 3) assist in completing out any forms needed. To make matters worse, there were three changes in people dealing with my account and then the company sent me in the mail an announcement of their closing. It indeed did close, no longer able to phone, infact, no ability to contact them at all to find out where I was in this whole process. I did receive a card that they are under litigation, and that I am included in the group suit (?). At this point this is the least of my worries except of course for my $1500.00. Next to happen August of 2010 I was give a forbearance plan of paying my regular mortgage payment, Western Union Quick Collect on the first of each month. I notarized as directed and began the plan as instructed. The legal firm sent me a notice stating that the foreclosure was being rescinded. I called Flagstar to verify and they agreed. (I have followed their directions every time I was presented with a new set and re-sent in all forms, etc each time I was asked (total 6 times) although I'm not certain why so many times. January 2011 I was given a new forbearance plan, $798.00. I was thrilled, even though they told me on the phone that this was good for 5 months and then I would receive new paperwork with a new payment of $1, 598.35...$35.01 more than my regular (original) payment. I never received any paperwork advising me of the change; I called and informed them of this, thinking all the while that they should already be aware of their own processes and asked what to do. Was told to just continue to make the $798.00 amount and that I didn't have to send by Western Union and in fact that was only for the very first payment (January's) but could have been paid by check, etc. Not long after, I was called and told that I was finally under review for the modification. I asked then if this was god news. Was told that she couldn't tell me anything about the outcome, but that I was under review after such a long wait, and she felt this was a positive move forward.I have continued to do so. At the end of June, one of my parttime jobs ended due to gov't grand funding ending for the project for that school year; hopefully to be refunded and me picked up again in September. Through all this time, I had continued to apply for another teaching job. If you are aware of the TX Education crisis, ou know that it has been chaos; teachers laid off left and right. Because I was teaching for a Catholic private school, no unemployment. Had to go on food stamps, continued the second parttime job at $7.35 per hour. Just last week I got a teaching job for this academic year. I called Flagstar just a week ago last Wednesday to inform them. They told me to send or fax in my contract when ready as notification but no real use in terms of the modification. I get my first pay check on the last day of the month, September, since I started on the 24th of August and his last week will be added to that check. The woman said to send that in a copy of the stub when I get it. This will go to the modification analyst. Tis Thursday, the 25th at 8:30 a.a., I received a phone call on the way to work from Dasheeta (would not give her last name, nor transfer me to anyone else saying that she was assigned the call and she was the only Dasheeta n the Loss Mitigation Dept). She told me I was being foreclosed upon. I was shocked, she said that I could pay $181, 000 and this wojuld end, or I should short sale my huse. I told her about my job, that I had called, that I had to send in yet another app. package in June, what was going on. She said "What's going on is you're more than 30% something, something, something...which I didn't catch all of because I was crying so hard. Said to her that I had literally worked my _ _ _ off for the last year and a half to comply with all of their requirements..She interrupted me to say that "there is no reason for profanity, and please, lower your voice." I asked her to give me an approximate time line of this process so I could figure out what kind of time I had to sek help. She said she couldn't since she is "in Michigan, and not Texas and I don't know the TX Foreclosure laws. " I told her to transfer me to someone else who could tell me, she said no, and said the conversation was over and I would be geting papers in the mail sometime. (Sometime? and this concerns my home!!! that I have worked hard to keep in many adverse circumstances!) I called HUD, they told me to call FHA since Flagstar is an FHA lender. I gave ROSS the information he asked he gave me my "ticket number" told me he this would begin an investigation and that I should call them this Wednesday, the 31st. What do they do, what can they do, how closely are they aligned with FHA lenders, do they work for the homeowner in jeopardy of losing their home, what are my chances...I am a month away of improving my financial situation...where do I go and what do I do? Who cares?
Product or Service Mentioned: Flagstar Bank Loan Modification.