Dual Tracking by Lenders is Unacceptable
Your lender has finally responded to your many calls. You’ve sent your documents in repeatedly and finally have a dedicated person handling your case. But then, suddenly that person disappears. He won’t return your calls and you are in limbo again. Then you get a call from your lender, it’s a new representative asking if you’d like to apply for a loan modification. You explain that you’ve already applied and are waiting for approval. This rep can’t seem to find your documents and asks you to send them again. Oh, and by the way, since so much time has passed he will need everything you send to be updated.You call several times to check with him – has he received your documents? He tells you your file is incomplete, there are several documents missing.
This scenario happens too many times to count but each time you are contacted by a new representative it gives you hope that this may be the last one! But it never ends because it is by design to keep you in a maze.
In the meantime, even though they are giving you the impression that you are on track to receive a modification (as soon as they receive your missing paperwork) there is something else going on behind the scenes. It’s called dual tracking. While your stuck in the maze of lost paperwork and representative turnover the lender is advancing your home into foreclosure.
Call your senator, representative and attorney general’s office and demand that legislation be passed to prohibit lenders from starting the foreclosure process while a homeowner is in the process of a loan modification.