I was recently asked what advice I'd give to others going through the loan modification process. My answer to that is simple... Document everything. All conversations, all phone calls, all faxes - everything!
When and if you qualify for a loan modification, you'll need to send documents to verify your qualifications. Given Saxon has a tendency to shred or misplace vital documents, you'll need to make it goof proof. Although, even with that done they'll still mess it up.
I received a list of items that were needed. I took the time to retype the list of items into a numbers list. I then took sticky notes and afixed them to every document associated with the corresponding number. Each sticky note contained the doc type, #, Last Name and loan number. (don't forget to list total pages)
- All income statements, paystubs for all borrowers for the month of December.
- Income statements for John Doe (2 documents - 1.1 & 1.2)
Then I photocopied the entire packet, faxed a copied packet and also mailed a packet certified mail. I kept a copy for myself (of everything including the envelope). Twice during the trial period, we were told they didn't receive something. I'd reference the list and say it was submitted as part of the loan packet. You'll find it on document # whatever. All documents have been numbered. Both times I was told, oh you have them numbered. We found the document, sorry for the inconvenience. This anal retentive way of doing it did provide some assurance. Good Luck to you.
