Behind 3 Mts & Option One SUCCESS!!

[Constructivelymad]

I am in Maryland.
I am a Contractor and have suffered some hardships recently.
It did not help that my ARM increased last summer too.

My mortgage is due the 1st of each month and I am given until the 16th before penaltys.
My mortgage is with Option One.

I was behind on Dec, Jan and Feb payments.

I recieved a large sum of money from a job and paid myself enough to get my mortgage "caught up".

I sent all three payments to Option One's overnight box on the 14th and it was recieved on 11:58 am on the 15th.

They refused my payment and I received a certified letter from attorneys alerting me of foreclosure.

I called Option One and talked to Customer Service in Delhi India.
AJ (Customer service rep for OOMC) said the foreclosure proceedings were started on the 11th of Feb and this is why the refused my payment.
I asked him why they filed it on the 11th, I thought I had until the 15th to make "good" and he did not give me an explanation. I don't know if this is the mortgage companies right to do or not, so I did not argue.

I talked to him and he asked me a series of questions about income and grocery bill and car insurance. I asked him why all the questions and he said he was trying to help with a plan. Okay, I listened and answered.

In the end, he said I need to resubmit the payment of 5800.00 within 7 days at a MoneyGram office and I needed to bring CASH! Is this normal?

Then starting in April I would pay 2109.00 (vs. the previous mortgage payment of 1860.00) for 15 months, inorder to pay for the attorney that was hired.
When I asked if I could pay it all now. He mumbles it is around 8600.00 and we don't know exactly how much you would have to pay.
Almost as though, they don't want me to get it squared away.

My fear is taking CASH to MoneyGram. Can I refuse this?
Is this a scam?
on one occasion, He acted as though he didn't know who my lender was or what my account number was. Do they handle different lenders at this locations in India?

I called a number that was listed on the back of my statement. It was for Customer service.

What are my options? Should I try to refinance quickly? Should I get the cash and pay it. Am I to call the Attorney or try to call customer service again and get this sorted out differently?

Thanks in advance to all of those who have any input.
Cori

[CWs nightmare]

Constructivelymad...

I think the taking the cash to Moneygram is normal--they only accept cash when making payments thru them. If you make a payment this way you'll have to have your account # and all info. pertaining to your loan on the transaction application that Moneygram gives you. You would be able to track the monies and if it didn't go to the lender and account # as specified by you, you would have your documentation as proof and reciept of transaction.

The lawyer part sounds a bit strange. Sorry I can advise you on that...Is this the first you had heard of the foreclosure proceedings? Now other indication at all?

[mreedlaw]

Good morning Cori and welcome to the forum - I have a few questions for you...by the way, it sounds like you were the recipient of an outsourced phone call, where several lenders, such as Citi and Option One, probably use the same group of folks over there...

(a) When is the foreclosure date scheduled?
(b) Who is the foreclosure attorney
(c) When is the deadline for 7-days to send the money gram? (some lenders actually do operate like this, but I would defintely prefer it if they just gave wiring instructions, so that you can send it from your bank to theirs).

Thanks, Michael

[Constructivelymad]

They sent me letters making me aware I was behind and that the matter needed immediate attention to avoid foreclosure.

I know that I was nearing the 90 day mark and needed to get the check to them. It was down to the wire.

My thoughts were why proceed with foreclosure on the 11th when, the 16th was the 90 day mark. All could have been avoided if they would have accepted my payment on the 15th. Now there are attorney fees involved.

I think I will be calling the attorney on Monday. I just got the letter yesterday.

[Constructivelymad]

Originally Posted by mreedlaw

Good morning Cori and welcome to the forum - I have a few questions for you...by the way, it sounds like you were the recipient of an outsourced phone call, where several lenders, such as Citi and Option One, probably use the same group of folks over there...

(a) When is the foreclosure date scheduled?
(b) Who is the foreclosure attorney
(c) When is the deadline for 7-days to send the money gram? (some lenders actually do operate like this, but I would defintely prefer it if they just gave wiring instructions, so that you can send it from your bank to theirs).

Thanks, Michael

(a) no date, the paperwork says...."Not withstanding the foregoing, a floreclosure sale of the secured property may be scheduled."
(b) Bierman, Geesing, & Ward, LLC
(c) March 1st, 2008, and he gave me no options in wiring money he gave me a number 4513 and said to include my lender and account number.

First things first you are talking with a collector, not a modifier or a work out person. That is why the demand for payment and you need to speak with someone on shore to get this understandable and comfortable for you. They are doing a forbearance situation with you to bring the loan current Option One however is not all that bad....

So let's get rid of India for you on the first step.

OPTION ONE CONTACT INFO

Amy Sessner Macedo
Homeownership Preservation Office-OCA
Customer Advocacy Specialist

(800) 704-0800 Ext 43782

Rightfax (866) 817-1620
amy.sessnermacedo@oomc.com

That gets you out of India....and you need to call immediately on Monday Morning bright and early. Well is is California, so early by some standards.

At that time make arrangements for funds to forestall foreclosure and then get a postponement immediately upon reciept of those funds. If you still have problems, you need to post and let me know. Immediately, are you able and willing to send what needs to be sent to keep the sales date held off in order to negotiate the remainder of the issues?

Let me know.

Further more, please do not panic, this is some thing that can be held off and fixed with an on shore group. Do not just helter skelter send money to this situation as it may only result in they got your money and nothing else is achieved.

The India connection is not on shore work out or modification/forbearance, they are not the brightest bulbs in the box either. You do have time to work this out and have that date set out for 30 to 60 days and get the problem resolved with forbearance and future modification.

[Moe Bedard]

What Poppy sez.......
And to add one more thing.......you have to stop thinking of your payments being due by the 15th of the month. That is not the way the lender calculates their timeframe. That is a grace period given before an additional late fee is applied to the loan, but according to your Mortgage Note that everyone signs at the closing, the payment becomes due and payable on the 1st of every month and that is how they calculate it......

[Constructivelymad]

Poppy,

Yes I am able and willing to send payment, once I find out what that is.

I have the three months arrears still in the bank and some additional if needed.

Thank you for replying.
So glad I found a site with people who are knowledgable.

***, your point is well taken.

[mreedlaw]

Sorry, Cori...just got back from church and lunch...but I can see that you were in very good hands!

Foreclosure proceedings are "typically" begun at the 90 day mark - our lovely state has not really placed a date certain on it right now - they are currently hearing cases in the Mayland Court of Appeals as to what constitutes proper notice (regular mail, certified mail, etc.). Bierman, Geesing & Ward, actually just received a decision in their favor in a notice case (Griffin v. Bierman - I've been reading and re-reading the court's decision over the last few days).

I know some of the folks over at BGW-LLC, the people I've talked to are nice enough, but the firm could also be described as a foreclosure mill - they've got a job to do for the lender. And I've seen their conference rooms full of foreclosure files - they are absolutely swamped.

That being said - it sounds like you have the funds necessary to bring your loan current - I would think that talking to the person in California would be helpful - also explain to them that you did send payment and have the tracking proof to back it up. Although it may be difficult to "undo" attorney's fees - they would probably be minimal, if any, at this time. Please gather your documentation together and get ready to the lender tomorrow. Also be prepared to document every name, phone call and letter from this point on - even when the loan (hopefully soon) gets reinstated - try to get something from them in writing that lets you know that you're back up to date.

Thanks, Michael

Please do call OOM out in CA, there will be someone at the other line with far greater resources to assist you and most likely an easier way to track the funds, send the funds and delay the dates to a agreeable time so that modification or other work out can be achieved.

Additionally if you get a delay in the date, you must fax the agreement as you understand it so that there is a confirmation of the agreement, make sure that you get a fax confirmation of the fax. It is important that you have a record of everything.

If you continue to have problems, please let me know and keep me posted. There could be alternative avenues for you in this situation, although I doubt that you will have problems after speaking with CA on this matter.

[Constructivelymad]

Originally Posted by mreedlaw

I know some of the folks over at BGW-LLC, the people I've talked to are nice enough, but the firm could also be described as a foreclosure mill - they've got a job to do for the lender. And I've seen their conference rooms full of foreclosure files - they are absolutely swamped.
Thanks, Michael

I googled BGW-LLC and OOMC together and saw that they handle this alot.
Needless to say as a layperson this also gave me an uneasy feeling.

[mreedlaw]

Don't worry about that right now - Option One is just a client of BGW - but it sounds like you'll be getting the loan straightened out much sooner than a foreclosure even gets scheduled.

[Constructivelymad]

Originally Posted by Poppy

Please do call OOM out in CA, there will be someone at the other line with far greater resources to assist you and most likely an easier way to track the funds, send the funds and delay the dates to a agreeable time so that modification or other work out can be achieved.

Additionally if you get a delay in the date, you must fax the agreement as you understand it so that there is a confirmation of the agreement, make sure that you get a fax confirmation of the fax. It is important that you have a record of everything.

If you continue to have problems, please let me know and keep me posted. There could be alternative avenues for you in this situation, although I doubt that you will have problems after speaking with CA on this matter.

Oh I plan on it. I am using the number you provided.

I will document everything as instructed and I will post when I find out more information.

It will be nice to talk to someone "onshore". That is what I wanted to do immediately after I hung up with India, but all the alternative numbers sent me right back there. It left me feeling kind of helpless.

Thanks for all the good advice, every one of you.

Please keep us posted and let me know the outcome of you conversations tomorrow, I may not post as fast as today, but I will be monitoring the forum. I have some other avenues for you if this is not a remedy to your solution, keep calling that number and use the e-mail or fax number to try and get attention as well.

[Constructivelymad]

Originally Posted by Poppy

Please keep us posted and let me know the outcome of you conversations tomorrow, I may not post as fast as today, but I will be monitoring the forum. I have some other avenues for you if this is not a remedy to your solution, keep calling that number and use the e-mail or fax number to try and get attention as well.

Actually, I have already sent a detailed email.

Good that is a right fax and as such will be in the e-mail of the party that you addressed it to in the AM...right faxes are all directly to someone's e-mail account.....clever of them isn't it.....

[Constructivelymad]

BTW, thanks to the Moderator who edited my thread title.
I saw the sticky after I posted.

[Constructivelymad]

Originally Posted by Poppy

Good that is a right fax and as such will be in the e-mail of the party that you addressed it to in the AM...right faxes are all directly to someone's e-mail account.....clever of them isn't it.....

I have used them before. CBRB has or did have "Mongofax"

You fax a doc and it shows up as email. The wonders of technology.
Automated homes, automatic toilet flushers, vechicles that tell you your tire pressure is low

Not me I am moving to the wilds of Wyoming without a neighbor for miles, just for that reason.....only problem is that I smoke and the nearest 7-11 would be 100 miles away....hummmmm.....Need to rethink that concept that would be a disaster...I have no plans for quitting...got to be able identify the instrument of my destruction.....

[Constructivelymad]

I don't have any of those commodities. I just know they exist

You could do like my sister and her husband. They buy tobacco by the 5lb bag and roll their own.
I tried one and couldn't handle it. I like mine full of fillers and trash

Or perhaps you won't need to smoke when you get there because your life will be stress-free

I am a child of the 60's did the roll your own, Camels, Lucky Strikes, do not like spitting tobacco, so I like those Cowboy Killers, real thing Marlboro Reds....should leave a real good cause of death identifier....

No last time I quit, the results were very ugly.....

[mreedlaw]

I don't smoke (there has been some hilarious results, when I have tried though, including burning a hole in my t-shirt in Ocean City, MD, but we don't need to talk about that now) - but I would not want to go through life without coffee, diet coke or a diet Rockstar energy drink - that would be just wrong. Anyway, good luck tomorrow Cori.

[Constructivelymad]

I know we have gotten way off topic here but, have you seen the price of PallMalls?

In MD, Marlboro Lights are $42 a carton PallMalls are $80 WOW

[Constructivelymad]

Thanks Michael.
I have all my papers ready and it is only my list of things to do before the rooster crows.

Good for you for never starting a very hard-to-break habit.

Coffee is a must. I am afraid of Rock Star. I am so wound up as it is, I am afraid it would make me too edgy and I would get arrested.