Flagstar modificiation...

[No1uknow]

Has anyone dealt with Flag star to do modification?

We are current on mortgage and have never been late, it is set to readjust April/2009.

Flag Star told us when we called to call them back when we were 30 days late.

I am just curious if anyone has dealt with them.

Thanks.

[Dan Bailey]

Nouknow, Welcome to the forum and thank you for joining...*** or Moe will be by as soon as they can to give you some direction and advice. Hang in there!

[Moe Bedard]

We have not had a success story from Flag Star................

What is your interest rate at?
Is it fixed or adjustable?
If adjustable, when is it adjusting?
Are you paying interest only?
Do you have one loan or two?

[No1uknow]

1st - 6.325% adjusts April 09
2nd - 7.25% fixed

1st is a 40 year ballooning in 10 years.
Both loans are P n I. We pay our taxes and insurance ourselves they are not escrowed.

Do you not have success stories from Flagstar because no one has posted or are people getting denied?

We hired Pavia, they are currently doing the forensic audit.

I recently noticed that the appraisal on the refi was inflated, we had a custom home built, we paid the builder for 2600sq ft and the appraiser appraised the house at 3200+ feet.

I wonder what kind of recourse a homeowner has against the appraiser? (Aside from the modification) What do homeowners get by going after the appraiser? (these are questions I will ask Mr. Pavia once I get to talk to him.) But I am curious what can a homeowner expect from litigation against an appraiser, the cost of the appraisal, the cost of the refi, the cost of the home etc?

If the appraiser had not inflated and lied on the appraisal we would not have qualified for the loan and would not be in this mess.

Does anyone know what outcomes have happened from litigating against an appraiser?

Even if we get the mod I would really like to go after the appraiser if it is prudent.


Thanks.

[Moe Bedard]

we have not had postings for Flagstar..........you can be the first....

You are in good hands with the attorney........and the appraiser question would be a good question to ask them.


Please keep us posted on your progress..........

[No1uknow]

How big of a deal is it when the loan audit comes back with Federal TILA violations. I am not asking for expert lawyer advice but I am wondering if this ammunition is considered MAJOR or minor when trying for the mod.

The APR was off by almost 3%, the actual finance charges were off by more than 800k, and the payment schedule was incorrect.

I am waiting to hear back from attorney but was hoping someone here could maybe provide a little insight as to whether if this is pretty significant or just another thing to add to the case?

Thanks.

[Moe Bedard]

the loan modification final approval still lies with the investor on your loan and what they are willing to do.....here on the forum the advice given is for doing the modification yourself.......so we are not very familiar with the loan audit findings and what exactly the mean............you would need to ask the attorneys office this question when they go over the audit with you.

[No1uknow]

I will have to say that I am very disappointed with Pavia, our mod was turned down by Flagstar. I was supposed to have a call with Mr. Pavia to discuss further options but that has been atleast 3 weeks. I have left several call but no one has returned them.

So IMO the are enjoying the money we paid them at what I consider a lack luster attempt at the MOD.

I am still trying to contact Mr. Pavia to find out what we can do next, there were very gross TILA infractions.

[No1uknow]

Left voice mail for Scott Hazlett and Jeniffer today.

It's funny how after the mod was turned down they have become completely unreachable even though the last call I received Jennifer said she and someone else were contacting the bank to discuss a discrepancy with figures.

[No1uknow]

Still no call back.

[Andrew]

Sorry for your problems. I just let Scott and Katy(Processing manager) know about your issues

[Andrew]

also please email me your contact info and name
Andrew@loansafe.org

[Scott Hazlett]

Hello, I am also sorry to hear about our lack of call back. Please email me directly and let's discuss. We do care about your satisfaction with our firm. Look forward to speaking with you...

[No1uknow]

Scott I just emailed you.

[No1uknow]

Still no call.

[No1uknow]

NO call yet.

Absolutely incredible.

[No1uknow]

Still no call back, I spoke to a gentleman at the office yesterday and he said Scott would be calling me back

Nothing yet.

I am going to start a new thread later today about the lackluster quality of service Pavia is showing his clients.

People on these forums need to be warned and informed about the lack of service Pavia is delivering his clients.

[No1uknow]

Finally received a call from Scott, unfortunately he didn't know anything about my case. He is checking into it and is supposed to get back to me today with a status.

[No1uknow]

Still no status update, Scott was supposed to get back to me by last Friday according to his email on Wed.

Nothing yet, I emailed Scott yesterday and to find out what is going on with my mod. Nothing from him. I haven't even seen one piece of paper from Pavia or the bank to indicate that ANY work has been done with my mod.

As far as I am concerned they took my money and have not done anything but the audit. I have seen zero communication from anyone that proves otherwise.

[Andrew]

Will let Scott know.

[No1uknow]

Still no response from Scott or anyone from Pavia's office.

This is pathetic.

[No1uknow]

Received a call from Greg Pavia today, they are still working with Flagstar on the mod. There was a discrepancy with money numbers and Flagstar is redoing the mod.