Here is one of the best stories I've seen to explain the constant complaints from borrowers in Sacramento about their loan servicers. Written by MSN it features Elk Grove borrower Dannette Armstong's long battle with Litton to modify her mortgage.
The story explains some of the reasons the system is so baffling.
I got two letters today from people with similar problems. One loan modification specialist said her client got a three-month trial payment in Oct, Nov. and December and he made his payments two weeks early each month to show good faith. Now, he hasn't gotten a permanent modification because he made his payments TOO early. He has to start over.
The second was about a guy who had his modification approved, but the bank forgot to send the paperwork to headquarters. He finally got that nightmare straightened out. Jan. 8 he got a letter from BofA saying his loan modification was approved and being processed. On Jan. 15 he got another saying it was denied. He's looking for an attorney now.
Read the story. It will help explain why this crazy stuff keeps happening - and, I might, add, prolonging the economic downturn.