Escalation Fee? - Loan Modification Forum

ohhhdear · 10-04-2009, 01:04 PM

I've been meaning to ask this-- but keep forgetting-- well, I remembered now--so:

Has anyone else been charged an escalation fee?

I was charged a $178 escalation fee back in January or maybe February..

They did waive $150 of it and now it's down to $28 ..

For what???? My file being escalated? I don't even have a negotiator yet!!

nativelasvegan · 10-04-2009, 02:21 PM

The modifications are not suppose to cost anything. I would call them and ask them what that charge is and remind them of the guidelines. I have not been charged an escalation fee yet. I have asked for escalation so I will let you know if I see any charges.

ohhhdear · 10-04-2009, 02:47 PM

Well, I did tell them that the charge wasn't right. I asked them what the charge was for (it was on my monthly statement) and they said it was an escalation fee.

Anyway, they waived $150 of it after I fussed.

But they still want $28 !! I've tried several times to get them to remove it-- but they obviously are not going to remove it.

nativelasvegan · 10-04-2009, 02:54 PM

What exactly did they escalate? Tell them you will file complaints against them starting with the BBB, AG Consumer Protection, etc. Will they please consider removing it before you cost them more than $28 in time by responding to your complaints.

ohhhdear · 10-04-2009, 02:59 PM

Quote:

Originally Posted by nativelasvegan

What exactly did they escalate? .....

EXACTLY MY POINT! They didn't escalate a darn thing!

Hmm, I like your advice.......maybe I should tell them this will cost more than $28

Don't know why they didn't just waive it all ??

nativelasvegan · 10-04-2009, 03:17 PM

Oh, I have a feeling that even the dullest pencil in the box will realize that it will cost them far more in excess of $28 to fight your complaints than it will be just to "waive" the unsubstantiated fee. Let me know how it goes.

ohhhdear · 10-04-2009, 03:33 PM

Oh, I will keep you informed!!

One issue at a time!

My case has lots of various issues! Probably just like everyone else!

But I'm gonna address them one at a time---

Keep it simple for those folks!

hope67 · 10-04-2009, 05:26 PM

Ohhhdear..I have a feeling this "escalation" fee has to do with foreclosure activities..as far as I remember, it is called loan escalation when the lender sends a letter that says the loan is due in full due to default, in other words, when they start foreclosure procedures including sending letters via registered mail such as "Notice of intent to accelerate" etc..etc...so they are trying to charge you for those procedures that took and or taking place..

Just a guess! I doubt seriously it has anything to do with loan modification..

ohhhdear · 10-04-2009, 05:49 PM

Quote:

Originally Posted by hope67

Ohhhdear..I have a feeling this "escalation" fee has to do with foreclosure activities..as far as I remember, it is called loan escalation when the lender sends a letter that says the loan is due in full due to default, in other words, when they start foreclosure procedures including sending letters via registered mail such as "Notice of intent to accelerate" etc..etc...so they are trying to charge you for those procedures that took and or taking place..

Just a guess! I doubt seriously it has anything to do with loan modification..

But I am on time!!! Never been late not once!!

hope67 · 10-04-2009, 06:24 PM

Quote:

Originally Posted by ohhhdear

But I am on time!!! Never been late not once!!

Then you really should ask them..maybe it is a mistake!

10-04-2009, 01:04 PM	#1 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Escalation Fee? I've been meaning to ask this-- but keep forgetting-- well, I remembered now--so: Has anyone else been charged an escalation fee? I was charged a $178 escalation fee back in January or maybe February.. They did waive $150 of it and now it's down to $28 .. For what???? My file being escalated? I don't even have a negotiator yet!!

10-04-2009, 02:21 PM	#2 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 789 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? The modifications are not suppose to cost anything. I would call them and ask them what that charge is and remind them of the guidelines. I have not been charged an escalation fee yet. I have asked for escalation so I will let you know if I see any charges.

10-04-2009, 02:47 PM	#3 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? Well, I did tell them that the charge wasn't right. I asked them what the charge was for (it was on my monthly statement) and they said it was an escalation fee. Anyway, they waived $150 of it after I fussed. But they still want $28 !! I've tried several times to get them to remove it-- but they obviously are not going to remove it.

10-04-2009, 02:54 PM	#4 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 789 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? What exactly did they escalate? Tell them you will file complaints against them starting with the BBB, AG Consumer Protection, etc. Will they please consider removing it before you cost them more than $28 in time by responding to your complaints.

10-04-2009, 03:17 PM	#6 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 789 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? Oh, I have a feeling that even the dullest pencil in the box will realize that it will cost them far more in excess of $28 to fight your complaints than it will be just to "waive" the unsubstantiated fee. Let me know how it goes.

10-04-2009, 03:33 PM	#7 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? Oh, I will keep you informed!! One issue at a time! My case has lots of various issues! Probably just like everyone else! But I'm gonna address them one at a time--- Keep it simple for those folks!

10-04-2009, 05:26 PM	#8 (permalink)
hope67 Senior Member Join Date: Aug 2009 Posts: 595 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Escalation Fee? Ohhhdear..I have a feeling this "escalation" fee has to do with foreclosure activities..as far as I remember, it is called loan escalation when the lender sends a letter that says the loan is due in full due to default, in other words, when they start foreclosure procedures including sending letters via registered mail such as "Notice of intent to accelerate" etc..etc...so they are trying to charge you for those procedures that took and or taking place.. Just a guess! I doubt seriously it has anything to do with loan modification..

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