TB in Pennsylvania said: “Wow.. if I only knew. I’ll certainly try to summarize. We went through HOME123 in 2005 to buy our home. Were approved for a 30-year fixed rate up until a week before closing.
Appraisal came back $5000 less than expected. HOME 123 switched us to ARM 2/28 to keep payments the same. (???!!) First mortgage payment went to NEW CENTURY Mortgage… SECOND TO SAXON. We were sold off immediately. New Century filed bankruptcy shortly after our transfer. Title company tried to bill us for fees that were part of closing a full two years later.
Loan mod request submitted August 2008… never spoke with anyone … received act 91 on 11/14 and mod proposal 11/17, although paperwork was dated Oct.22. Wanted us to pay $1100 in 10 days and accept an interest reduction from 9.25 to 9.15. That would have saved us a whopping $50.00 a month.
Requested a copy of appraisal and was told…”it’s electronic”. I told her to email it to me then. She said “but it’s outdated”. Frankly, I don’t care. NEVER received. Asked for copy of Promissary note (given our stomach flipping beginning), still not received.
Our Foreclosure papers state HSBC Bank vs. US – Where do they fit in all of this? Furthermore… how do they factor into our loan? I thought we were owned by Saxon. So why is HSBC foreclosing on our home? Still trying to work with them but not having any luck. Even after obtaining our own loss mid. councelor. One Saxon agent told us …”your best bet to get out of all this is to sell”.
Sounds like they are trying really hard to keep the snowball rolling. Would love to be a part of any class action. Already contacted AG. Only thing that came out of that was… “children play nice”. Signed… frustrated and angry from Reading PA.”