Option One......SUCCESS!!

[JenInNY]

Hello everyone!
I hope this post finds all of you in your homes and happy!! I have never posted on a forum before, or ever admitted that I am in trouble with my house. I am 33 yrs, single mom, divorced 6 yrs ago.. I've been making ends meet by working for Toyota as a sales manager.. lots of hours, but good money. I have always been current on my loan payments until February 2007. Please dont judge me for what Im going to say, but Ive always been a "keep up with the Jones' kinda person". Ive never been without cash in my pocket until now. I had gone to work for a dealership that messed with my pay and had the most awful tenants in the world. (2 family house) I had depended on the rental income to pay my mortgage, these tenants did not pay and destroyed my house on a daily basis, (I can not explain how crazy it was here), they ended up being on drugs, having guns, etc.. totally nuts!! Police were at my house constantly!! Anyway, Im a single mom with 2 daughters, seems my "wonderful" tenants moved in a pitbull while I was at work. The pit went to attack my girls, my little yorkie intervened and was killed. Absolutly insane! I quit my job to stay home and watch the house, same time my mom becomes very very ill.. she still is (end stage renal failure). Now at the same time I've fallem behind on my property taxes, Option One pays them and now wants like 20000 in escrow. My monthly payment went from $2700 to $5200. It was impossible.
Yes, I got lazy and didnt open mail from the bank, I never thought it would go this far, now April 11th my house is scheduled for auction. I AM SO SCARED!! I havent slept in 4 nights! I have $10000 I can offer the bank, they are looking for $87000. Again, I say, I am so scared, this is the only home me and my daughters have known... I have spoken with the bank many times, written a hardship letter, now Ive gotten in touch with a company called (NAME REMOVED). They want $2500 to handle the loan modification.. I have no idea what to do!! (o yea, Im back to working 12 hour days 9am-9pm, and am not following up as much as I should).. Please if anyone can help, I would appreciate it so much!
Thanx, Jen

Welcome to the forum and thank you for joining....

You can pay some one 2500.00 and the chances are that they are just going to take your money, you really need to breathe and try getting in touch with Option One and getting the modification package together yourself. As you report the hardship is over and you are working and back to earning.

Please call HOPE 888.995.HOPE or ACORN ACORN: Home, both of these are non-profits and they can and will assist for no charge. You need the money to get the house current. You also need to call Option One, start the process and get the foreclosure postponed. HOPE can and ACORN both can assist in that endeavor.

Please, please do not part with you money to another scamming broker that now can not make money selling you the nasty loan and has now decided to "fix" the nasty loans they sold.

So....call Option One, HOPE or ACORN and get this process started, NOW.

[JenInNY]

Thank you so much for the advice!! I am really worried thou, time is coming quickly for the auction date!! I will be in touch with hope.com in the morning!! \\Jen

Please keep me posted and call Option One to get a modification package right away and have HOPE help you fill it out and get it into them like by no later than Monday....please, please.

You may need to take some time off....please do not delay...

Keep me posted please.

[JenInNY]

So, I hope that everything is going well for everyone.. seems that Amy at Option One has stopped the foreclosure (April 11th).. Ive sent her so much paperwork and she is absolutly the nicest person to speak with when emotions are so confused. She always returns my phone calls and emails (within a few hours). I am so hopeful that this loan modification will work out, its just so close to the original sale date and I've read so much stuff about option one promising to stop the foreclosure and then doing it anyway.. any advice??

Jennifer

[schwefls]

Jeninny:

Think positive, remain strong and keep that nice communication going with Amy,

[JenInNY]

Hello everyone!

Hope everyone had a great weekend. Well April 11th came and went and I don't think my house was auctioned, believe it or not I dont even know, I've called the bank and left many messages, called Option Ones lawyer, Steven Baum whose office told me that it wasn't, but I dont have any real proof. I hate waiting. I keep checking on foreclosure websites and see my house posted as "awaiting update", anyone have any knowledge of how these sites are "updated"..

I am hoping for the best,
Jen

[Moe Bedard]

Hi Jen,

The foreclosure websites are usually pretty slow at updating..especialy since your sale date would have been a Friday.......If I were you I would just call in once again to Amy and the Option One attorney tomorrow morning just to set your mind at ease.......


I am hoping for the best for you too.......
Keep us updated when you hear tomorrow.......

[want2keepmyhome]

Hello!

If you are working with the Amy I worked with - she has been great! She has tried to keep me informed - but you have to do your part in the follow up as well.

She called me yesterday with the modification information and today I got the packet via UPS. I'm almost done.

Take a breathe - and know that they are trying to work out the loans with people. Mine took about 3 months to do. Seems like three years.

Good luck! If you have any questions, post them!

[JenInNY]

You guys have been wonderful, thank you for listening to all my whining! I've learned so much reading info on this board, I feel too-informed (if thats possible!! ) Amy had forwarded my file to Jose, whom I left many messages for during the last week and a half.. I called Amy this morning and sent her an email, she responded immediatly (shes wonderful)... passed my file on to a woman named Jackie, whom I spoke with twice today. She wants me to WIRE TRANSFER $10,000 tomorrow morning to show that I am in good faith trying to get the loan modification done. I asked her what my rate is going to be, monthly payment, etc, she said an "investor" is working on it and I would not know yet. Im afraid to send the money and have it "lost" like Ive read many other people had happen. Advice please?!!

Jen

[want2keepmyhome]

Ask her if it is an "investor" or a "supervisor"? I asked Amy if mine was going to an investor and she basically said only to a supervisor to streamline the process.

Amy sent mine file to a supervisor and within days we had a modification. So, I would just ask about a timeline too. Always start "in a perfect world, how long would this be". I used that with Amy all the time - and really we were only about 4 weeks past her "perfect world" date.

Not sure if any of this helps, but I can only speak from my experience only.

Good luck and stay in the fight.

[scarednmontana]

hey i just joined this forum too... question for you, you kept saying that they sent you a packet of info for the loan modification, im with option one too and they havent sent me anything, i called and they told me what to fax to them and that was it...do you have any phone numbers for the lady who helped you, or could i have her email...we have been trying to make these payments for 4 months now and just found out about all the help...i guess they are not required to inform you of anything unless you call....any help is great....

PS: I know its hard to tell people here whats happened, but please know every story or action taken by someone else helps out the rest of us...and we thank you for that...I hope to inform my small community about the help here..think of those who have no internet and know nothing...god bless you...

[want2keepmyhome]

When I called Hope Now - they gave me this number to contact OOMC. Not sure if you have it at all, but it could be a start. I know they are overloaded - so you really need call call and follow up. When you send a fax, call and follow up. If you leave a message, call and follow up. Moe said it best when he said the squeaky wheel gets the grease.

Homeownership Preservation Office-OCA
Customer Advocacy
(800) 704-0800

The packet is the final step to the loan modification process. The following is the link to my story. I included a timeline just to show when things were done.

Option One -Loan Mod SUCCESS!!

[JenInNY]

NEW DILEMMA!! I have been trying all week to find a way to post this. I had been dealing with Amy at Option One who made me feel very safe! She transfered my case to a Juan that never called me.. I am now dealing with Jackie Petropolis.. does anyone know her? I was supposed to wire her $10,000 over the weekend, I was going to do it, until, I came upon a complaint Consumer complaints about Option One Mortgage Corp. that has me scared out of my mind. I have been avoiding her phone calls for two days. I am so scared AGAIN!! She claims that an "investor" has to give me the decision on my loan modification, I've read that this will probably not happen. Please please please help!! Any info will be deeply appreciated!!

Jen In Ny

PS: Another auction date is coming up!!

[Moe Bedard]

Hi Jenn,

I put up some contacts that some might not have for Option One.........also use the emails to email your hardship letter and also this latest information and as whether it is accurate or not and voice your concerns..........
Please keep us updated on what they say.........

Home Retention Team
1-888-275-2648

Home Preservation Office
Phone: (800) 505-3706


Office of Customer Advocacy
6501 Irvine Center Dr
Irvine, CA 92618
Phone: (800) 807-2519

customer.advocacy@oomc.com

bob.dubrish@oomc.com (CEO)


vice_president@whitehouse.gov
OCIP@do.treas.gov
service@naca.com

[christinayanko]

I'm kinda in the same boat story wise, but I don't know how much money is enough.Was the $10,000 back payments or just a figure they threw out, I'm afraid to admit how much money I really do have I know it's not nearly enough,I stopped paying all credit cards and personal loans and I just recently got caught up on my car payment through the help of contract extensions 3 per vehicle to be exact.They also sent me an authorization and disclosure form which states that if I knew the information was not completely true I am liable for all fees, the loan officer told me what to leave out on my profit loss statement that would ensure the under writers to approve my loan originally. Is this standard in all modification packets,I don't have a problem with them pulling a credit report or even sharing my information, but signing something I don't know what there going to do with is the problem. Did anyone else sign this ?

[JenInNY]

Hello Loansafe Forum,

First, thank you Moe for the birthday wishes last week, I was happy to see your email.

Second, I'm not scared anymore!! *** thank you for all the information you provided me with, it helped me tons!!

Jackie Petropolis, the most amazing woman, approved my loan modification with Option One last week, I got the paper work last Wednesday. I owed 14 months of payments $2961/monthly, my payment went up less than a $100 dollars at a fixed 5% (yes, five percent) intrest rate. I have 26 yrs left, where I should actully have 27. She called me much more than I called her, I was nervous, look at the subject of this thread, lol.

I wish everyone the best of luck and dont listen to everyone that has negative experiences with this process, I was told numerous times that without a lawyer I would be forced into bankruptcy, not so, research is all you need!! And keep smiling, the process isn't as scary as it initially seems!!!

<3 JenInNY <3

[Moe Bedard]

Jenn,

That is AWESOME news!!!
I am so happy for you!!!

CONGRATULATIONS!!!!!!

[schwefls]

Jeninny:

Congratulations. I am so happy for you, party hardy

[Abbykatesmom]

Jen


Congrats to you! It was a rough road and you came out on top......great job.

AKM

[RudyJay]

Way to go... congratulations... rj

[elpjohnson]

Wow!!! That's great news, congratulations!

[JenInNY]

Hi LoanSafe,
So, why do I feel my loan modification looked so good when I was all excited about it, and now I have a really bad feeling I got ripped off without even realizing it. I am falling behind on payments since my taxes are included in the new payment of $3700.

Jen