Sc57
Northridge,#2Author of original report
Fri, January 16, 2009
Just wanted to add a "bait and switch" tactic that SPS is employing: My lawyer had been trying to negotiate a loan mod and requested for my documents almost 2 months ago to do a loan audit. Up to now they have not sent documents but instead offered that if I could provide proof of additional income they will agree to modify the loan. When we provided "possible" future sources of income, they instantly switched tactics. They then informed my lawyer that Lehmann brothers was in bankruptcy and can't do loan modifications at this time. Instead I was sent a "forberance agreement? and being made to pay in a week, past due amounts. Is this is not trickery or predatory? We have been negotiating for almost 2 months now and could have told us early on they can't do a loan modification due to the Lehmann brothers bankruptcy (filed way back in august/september 2008). But now suddenly after learning/baiting that I could possibly produce additional income, they come up with a forbearance asking me to make payments in a week. They know I can't afford to pay. If their aim is not to foreclose my home - I dont' know what you would call this "bait and switch predatory tactic" that they had played on us. I would like to file a class action suit - are there others out there in a similar situation?