Option One

[Mike]

I have read this entire thread and wanted to share my experience with Option One. We were verbally quoted a loan modification program in mid-February after submitting all the necessary documents and now were told that since we were not late, we were denied. This company is HORRIBLE at communicating. They also suspended my online payment options with no explanation. Option One has no motivaation to modifying loans by borrowers that are on-time. Once you become late, you can never qualify for an FHA refinance, which are the only programs being approved right now. So what they want is for you to become essentially dependent on them for all future loan payments. Any if you have a high interst rate or are resetting to a higher rate, this is on-time interest income for them, especially since they are being bought out right now. Has anyone gotten a loan mod through these liars? And has anyone had any help by hiring a lawyer?