First Franklin agreed to a loan modification to lower the interest rate and then turned around and jacked up the interest rate. In addition, they tried to tell us that we had to have an escrow account for future payments.

For your information: This is an illegal procedure. These people are just as bad as Fairbanks Capital Corp. They should be run out of business. What a bunch of lowlife *** they are.

Still another aspect of their crooked dealings is the fact that they split the mortgage loan to charge even more interest. Their reason: I have no idea and then they tried to force insurance on the loan despite the fact that we sent them a copy of the current homeowners policy.

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come on Ron really? you should know better.

The ability for the bank to protect its asset is clearly written out in the mortgage note. It advises that at any time the bank is notified of delinquent taxes or canceled insurance they have the right to force place them to protect their investment...that is a no brainer...let me guess you probably did not read your mortgage note and therefore dont understand and i am guessing didnt pay your taxes and were surprised to see your mort increase right!!...lol


Question: How are your comments helping anyone? If the terms of your loan are changed from their original state without your consent, that would be contrary to the truth and lending act and that in my humble opinion is illigal and a breach of contract.


I am not sure if you are really aware how a loan mod works however the terms are written out and you must agree and sign in front of a notary...if you did not read the terms i think that may be your negligence..further more a mod is not necessarily used to lower your payment( big misconception)..it is used mainly to bring your account current after a hardship..As far as the escrow is concerned escrow is a free service provided by your servicer to pay any delinquent taxes and insurance and then to keep your taxes and or insurance current ...the bank does not want to pay your taxes and insurance for you and then wait for you to pay them back. therefore when you 1st set up an escrow account the bank will have to 1st pay any delinquency you may have with taxes and insurance and also calculate what should have been in the escrow account year to date ..this is called the shortage and usually falls off after 12 months...then the bank will also have to continue to collect for future installments so when it is time to pay your taxes and insurance the bank will have the funds needed to distribute to the appropriate institution...i know that we live in frustrating times but before you pop off and start complaining about how it is illegal to do escrow for future installments perhaps you should read and understand what escrow means and how it works and the same goes for a mod...the bank is required only to collect the original note you signed and nothing else ...if you got into trouble and they modified the account you should feel lucky as it is not a requirement...i really feel the problem with america today is that we constantly get it pounded into our heads that somebody owes us something...bottom line you signed the note ...pay your mortgage ...if you can no longer afford it sale or shortsale your property...dont blame your troubles on someone else.

take ownership and move on. thats how it used to be in this country...i say less govnt hand outs and more individual ownership

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