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American Home Mortgage ServicingLoan Modification and Escrow Shortage

B

We entered into a loan modification agreement with AHMSI in December 2008. They added $14, 000+ to the principal of our loan, which included $7, 184.02 for payment of deliquent taxes and insurance. We made our first first payment in February 2009 in accordance with the amount stated on Schedule "A" of the loan modification. We then received an escrow analysis statement in March 2009 stating that our escrow had a shortage of over $5, 000+ and that $400+ would be added to our mortage payment to reduce the escrow shortage. AHMSI states that the shortage results from them paying the deliquent taxes. I countered that the deliquent taxes were added to the principal of my loan and amortized over thirty (30) years and nothing in the loan modification documents indicates that the deliquent taxes would be paid back in 12 months as they are now trying do. Has this happened to anyone else?

Responses

  • Re
    ReadutoLive Apr 28, 2009

    Contact info for person in United States not the India Line

    Claudia Pesina
    Payoff/Lien Release Supervisor
    American Home Mortgage Servicing, Inc
    4650 Regent Blvd. # 100
    Irving, TX 75063
    Direct line [protected]
    Fax [protected]

    0 Votes
  • Ca
    campnfoolz Jun 16, 2009

    I am dealing with exact same issue. Any results on your end?? I am getting stonewalled.

    0 Votes
  • Jo
    jodeebee Jul 10, 2009

    This is all so bad it makes my skin crawl. I just hung up the phone with them. I am reading problems and issues that I fear I will soon be facing if I cannot get my problem resolved. I too had a mortgage thru Option One that was transferred to AHMSI. This April I received an Annual Escrow Analysis Statement showing my escrow was short $15, 000. The taxes on my property are less than $2, 000/year. I made a call to them in April and was told that it would be resolved. I sent my June payment as normal. I recieved a letter stating my load was in default. I telephoned them on June 8, I faxed my tax bills to them and as was suggested, made a follow up call three days later. Of course, they say they did not receive my information. After 90+ minutes on the phone between Customer Service and the Tax office, they agreed to do a new analysis and the said I'd be notified by mail. The mailing that came dated June 17th stated that my new monthly payment begining in MAY was $1698, of course this was down from the $2200 but still way off. I looked at my credit history and found that they posted my June payment as late. When I called again, Wednesday July 8th they told me that June's payment was posted to May's escrow balance shortage (remember $15.000?) This left a shortage in my account which is why they reported me late. There is $764 sitting there, which I still need to pay the difference which we do not know yet what it is, and July's payment is now due. So on Wed. July 8 I spend again over 90 minutes on the telephone with 5 different people. I finally got a supervisor, Joshua who contacted the tax dept again, asked that we reopen the audit and told me to call back today. That the adjustments he made would take an overnight cycle to show correctly. I called today, was not permitted to be transferred to Joshua as I have no last name or extention number, which aparently do not exist anyway.
    I spoke to Rosa in the Tax Dept. She tells me that they have received three copies of my tax documentation but could not verify it and that an audit would take 20 days. I was then transferred back to Customer Service and spoke with Kailash only to be told that there had been an error in processing the June audit request. I asked that my audit be expedited as it was there error, but of course that cannot happen. I see why, there are many people like me trying to accomplish account updates etc with this company. I asked for Home Retention to see if they would stop marking the payments as delinquent when they are getting them and that cannot be either. If I had a nickel for every " Ma'am I understand" that I heard over the past three months I would have been able to pay the mortgage off. I am now instructed to call on July 14th to check on a payment amount. Or, I can pay the balance they feel I owe which is $3000. I hope that we all can resolve our complaints with this company for our credit ratings are going straight down the toilet waiting for them to comply with our requests.
    If anyone has any further information, please feel free to share it. Thank you for reading my post.

    0 Votes
  • Sy
    sylviathegreat Oct 26, 2009

    Have any of you guys gone to an attorney or a person who can do a forensic audit?

    0 Votes
  • Sy
    sylviathegreat Oct 26, 2009

    AHMSI is going against every legal compliance. Have any of you considered doing a forensic audit?

    0 Votes
  • Di
    disgustedwithAHMSI Jan 09, 2010

    Brian,
    We had almost an identical scenario with the loan modification. We were making payments as agreed after the mod, and all of a sudden they slapped us with a $500 per month increase in our payment. We're still fighting this. I never talk to people in India and always ask for Texas not even going into details. I was told to send a request to the tax/escrow department to spread the "shortage" over the maximum 36 months. They only did it for twelve, so our payment is still high. The fax number for the home retention/escrow [protected] I hope this helps.

    0 Votes
  • Ur
    urbansombrero Mar 10, 2010

    Did anyone get this resolved. I'm now having the same issue. After months of being on the Modification and making the payments, now I've got a $3000 shortage in escrow!!! No way! What to do?

    0 Votes
  • An
    angry111 Nov 21, 2010

    My house is scheduled to be auctioned, and this is due to an apparent insensitivity or recklessness on the part of AHSMI. Payment of $1, 850.00 suddenly jumped to $4, 300.00 a month. They claim that I have an escrow shortage of $99, 000.00. This is over a period of two years. Even if I had not paid insurance and taxes on the house, there is just no way i would be in shortage by that amount. Average insurance is $1, 200 a year, and property tax is about $12, 000 a year. I made several attempts to talk to both American line and the India line, I never succeeded. I kept making my original modification payment of $1, 850.00 . They claim I have defaulted for six moths and the house was placed on foreclosure.

    Sad and very angry with AHMSI

    0 Votes
  • Ha
    Harry Sumner Mar 09, 2011

    I am a lawyer who sues mortgage companies, call me [protected]

    0 Votes
  • Am
    amira carrera Feb 21, 2016

    Excellent piece . I was fascinated by the insight ! Does someone know where my assistant can grab a sample IRS 2290 form to type on ?

    0 Votes

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