Option One Bank will help their mortgagees

Posted by Chuck in Mass on November 24, 2007 at 04:43:56:

I have a sub-prime with Option One. It reset in October, 3.7 points and over $700. I called and told them I couldn't do it. I was told to write a "hardship letter" (easy) outlining my situation. Two weeks later, someone from their mitigation department called and asked for the barest of financial data, all on my word--undocumented. Three days later, he called back and told me I would have the old rate for two more years. This was all handled professionally with no loss of dignity. Maybe because they are owned by H&R Block and Block doesn't need bad headlines with tax season approaching. Whatever. I can now breath for two more years. Maybe by then this mess will be over. If you have an Option One mortgage--CALL THEM NOW! (Hope this helps just one person out there.)

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