We also are victims of Option 1 who I have a mortgage with ONLY because i mentioned to the company that sold it to them CITIRESIDENTIAL that I wanted to learn about getting a mtg modification - currently mtg is 12.75% but it's not supposed to be because Ameriquest who had it before CitiResidential told us this loan would go to a fixed 19% rate after two years and when the closer came to the house for the signature, my husband did not have his glasses on and asked her if the terms were 12.75 for two years and then 10% as he was promised and she said YES.

First of all home closers are supposed to be illegal in NC I though especially notarizing his signature, Okay his stupidity and then after two years they rate didn't drop which caused us to look at the original contract which indeed showed he was lied to. Anyway CITI said they would get back to us but we never heard anything and then I got a letter stating the mtg was sold to Option One. The payment is too high and requested a home mod - also spoke to Indian guy - I don't have a problem with Indian people BUT he was rude and also put me on hold for a LONG time and though I make enough to carry the mtg at the payment we were going for they wont give us the mod unless we make A LOT more money a month.

I told him if we did make that amount that we wouldn't NEED the loan mod SO I told them they are crazy when we are showing we can make the bills just not having hundreds left over a month so they would rather the house go into foreclosure and keep us at the regular payment. We are so disgusted. Any suggestions?

we have a mortgage with option one and in may we owed 2 payments. we were only able to send one and they cashed the check, it cleared our bank, then 3 weeks later they issued us a check in the payment amount and returned it to us and by then that caused us to owe 3 payments. they demanded the full amount and we snet it and they returned the check saying it was a day late and started forclosure. we had to sign an agreement to pay an additional $400 a month for 7 months for reinstatement. it seems illegal that they could cash our check, hold it for 3 weeks, return their check and start forclosure and now charge us an extra $3000. is this legal?