In November 2009, we were referred to James Sacco with Performance One for processing our file.
We had an interest only loan with First Franklin. We had purchased our home in June 2006 for 1.3 million. We had an interest only loan with a monthly payment of $4833.00. Plus our taxes were about $14,000 a year. With our home being so underwater there was no way we could refinance. To make matters worse I had lost my job of 17 years in June of 2009.
James went over our financial and explained to us that he felt we were a good candidate for a processing a modification...really our only hope to save our home. We signed up with Performance One in December 2009 and they immediately put together out file to submit to First Franklin.
First Franklin was very difficult to deal with. We had numerous negotiators that basically asked for many documents but we were given no modification. In August 2009 we were sent a packet that had 3 payments for $6200.00 but really no clear direction that we would be offered a modification after the 3 payments. We also were sent all the documents that we were in foreclosure and had a sale date each month. John Lambert told us that we should make the first payment so they could have more time to research the letter and what it really meant. With their research they found out that this was not a trial modification it was a repayment to an escrow account. Performance One felt there was more to this and that our loan might be package up to be sold to another bank. Jenean and John were absolutely correct and at the end of September we were sent a letter explaining that Bank of America had our loan. Performance One saved us from making the next 2 payments which would not have done anything for us in getting a modification and cost us $12,400.00
In October 2010, we started over with Bank of America. In March 2011, we were assigned a negotiator that we felt confident would help get this done for us. We worked very closely with Jenean and Casey to make sure they had all the bank statements and documents they needed. We really felt like we were getting close and in August 2011 abruptly our file was closed. Roger our negotiator said we had not provided documents in the time allotted which was a lie. With a sale date pending each month the only real way to get them postponed is to be in review status and with us being kicked out this put us in a very compromising situation. Jenean was not giving up she called Bof A relentlessly trying to get answers as to why our file was closed. She finally was able to get a hold of Darren Wright who was able to give her some answers and get our file reopened. Jenean also advised us to send in our second complaint to the Attorney General. We were sent a letter from the Presidents Office stating we were given a new negotiator. Jenean immediately left her a message to try to get our file going again. On August 29, 2011 we were sent a letter stating we were denied. Not know ing why or what was going on. Jenean kept at them but was not getting any response. I cannot explain the pressure of not knowing where we stood. James and Jenean continued to work hard to get resolution as well as reassure us.
We began to get collection calls from BofA stating that we were out of modification. Jenean was finally able to get a hold of someone who put her in touch with a new negotiator. We were finally on the right track. Remember we have not made a house payment since December 2009 or paid any taxes. We were behind over $106,326.00 not including taxes. Jenean had finally found the right person to help us. September 30 – Jenean tells us we are so close and she needed a few extra items. We were always quick to get her what she needed. She submitted everything Friday afternoon and on Monday October 3 we got a call from James and Jenean with the good news!!!
We were given a modification at 2% - our payments including taxes will be $3944.00 --- Performance One never gave up. Not only did they get this done they kept us sane through it. There is no way we could have done this on our own. We would have lost our home over a year ago without their guidance and perseverance. Not only did they get an amazing modification for us they also got us a modification on our rental property. Our advise to anyone reading this letter don't walk but run to Performance One. I guarantee they will stand behind you 100% and help give you a new start like they gave us. Tom Eaton
