First Franklin Financial review: Lies about Mortgage refinance 47

Hi I also have a mortgage with first franklin, and its an adjustable rate, they refinanced for me twice, but then when my business went under and I have not worked since then, they wont reduce my rate, in which is 8.125 percent, outrageous, they lost all my paperwork after over nighting it with post office, this went on for two years and they have switched my account over with two different servicing companys in two years, no one can help, my family are helping me, Im struggling, please help me with some advice, i really appreciate it thank you, not sure how these people sleep at night, they make me so angry,

I thought I was the only one. First Franklin would not work with me in any way I tried to refinance and they wanted to have the house appraised for free, then I was charged $400. for the appraisal fee. Now BAC owns 1st Franklin. They are just as bad. They want me to pay them the appraisal fee that I already paid. They claim they can not check their records past August, that is when they too over. I was not informed until October. If they own 1st Franklin, why can't they check the records? Do they not have records from the company they took over? I think not. Now I'm trying to do my taxes and I can't. There is an $8000. difference in what I paid in interest in 2009 and what Bank of America has on the 1098 for 2010...how can that be? I know I paid more than $3000. in interest. There must be someone we can call. I can not believe that First Franklin/Bank of America can get away with this.

Like all of you i have fallen under the lies of these crooks and i was never late on payments until my father suffer a heart attack caused by stress of the pressure that first franklin was putting on every minute of our lives [censor] we could only watch how quickly our mortgage bills kept growing. they denied my request for a loan modification after almost two years of hard work and negotiation with them and they ignored my financial situation and my entire families frustration. Out of nowhere i was asked to refinance again as an in home modification and was approved within a month but it was all the same rip off again and again. I have currently found out that i was also a victim of a racial scandal where first franklin gave hispanics and Afro-Americans a higher interest rate violating our constitutional rights. It seems to be a never ending story and all i want is a roof under my family where i could grow old and see my two year old baby grow nothing more but it seems like not this or many of the dreams of many more hard working americans will ever come true in this life time. Despite the hardship and frustration i will never give up and keep fighting for my family hopping that our government realizes that United states will be destroyed along with the so call American dream that is in the trash for many of us while they they praise so much and put the needs and luxuries of this industries and banks over their people the Real Americas...

I need help...does anyone know how to contact first franklin...Our mortgage was originally thru them. When i call the 1800 number it gives me Bank of America. I did recieve a letter that Bank of America owns them now and to send the mortgage payments there as of Oct 1st 2010. We were shocked to find out end of September that we are in collections with First Franklin! I Called the Collection agency and they told me to contact First Franklin because we owe them $ 29, 000! I contacted Bank of america and they could not help me. They said loan contracts with First Franklin cannot be viewed until 8 weeks. Bank of America knows we need to pay our loan thru them every month and that is it they dont seem to care when i explained that i am in collections and I need to get an explaintion why i am in collections. All they were interested is when i am going to make my NOV PAYMENT so, I gave Bank of America my November payment. They told me they can't help me wiht the collection agency that is after me... until 8 weeks when they get our loan documents transferred over. I can't wait 8 weeks..this collection agency wants thier money. Very Weird...dont know what to do.

We could be one of the homeowners/foreclosure where fraud was committed. We purchased a house in Dayton, Nevada in 2005. Prior to closing we were told that the loan was a fixed loan. At closing and signing the documents, we learned that the loan was an ARM. We went ahead and signed the papers paying a down payment of $15, 000. Two years later, they doubled the payments (1st and 2nd) from $682.78 & $1729.72, to $1385.46 & $2399.28. We are writing “they” did this because we are not sure who owned the mortgage. The mortgage service company was First Franklin out of Pittsburgh, Pa (PO Box Dallas, TX) but the actual mortgage owner may be the Bank of America (information from the internet). When the ARM kicked in we tried to work with the loan service company on a loan modification program (via homeownership counseling) but (after sending the paperwork twice) were told we did not qualify and to pay off the loan or find other financing. A number of the documents we received have spaces for a notary seal but were not notarized on our copies. We were forced to vacate the house in February 2008.

First Franklin screwed us as well, Had to send our paperwork in three times, they said they didnt receive it, then they said it went through the paper shreader, After months of waiting, I called and they said it would be a nother three months because they were behind. The lady we delt with talked us through the modification papers, papers show my modification interest rate is 9.0 and they dropped it to 8.99 and my payment went up $250.00 a month. She said we had to make three monthly payments, Then after that the papers would be re drawn up and the interest rate would go down sugnificantly. Well lies lies lies, made on time payments for 5 months and no paperwork, I called and left messages 50 times, no body ever answers, and they dont call back when you leave messages. How is paying $250.00 more a month a modification to help me save my home? I dont know what else to do but let it go to forclosure and walk away. Chris

As with all of you, my husband and i lost our home to First Franklin. We had a arm loan. 80/20 at that. Bought in October 06. Interest rates 10.30 & 6.45 We were in our home 2 years . Asked FF to help us refinance through them. They stated that they would not help us . Told us to go get another loan to pay them off, that they would except a short pay off. Husband and i searched for 2 month. Keeping up with payments that adjusted up and put off other bills to try to keep our home. We found a government loan that was a new program. We got approved for loan . Had loan for 1 months. Contacted FF to tell them okay, we got a loan. Told us to send them paper work. We did . Contacted them a week later. They stated they never got paper work . Faxed paper to them. 3 days later we called to see if any one was working on our case. They stated, they never got the fax. My husband and i went round and round with them on the phone. The new loan reps tried to talk to them to see what the hold up was and let them know that we only would have a couple more months left for getting this loan. First Franklin told new loan company to stop calling them. I called them back . Asked, what are you people doing. We got the loan, are you going to help or not? You said you would except a short pay off. FF told us they had to negotiate. They got back to us later and said NO they would not except any short pay off. They would do a modification. Came back 2 weeks later, by then we lost our other loan. Told us they would do an extension of interest only again for 3 years with notarization and signatures. They gave us a ultimatum of take the loan or we lose the house to them. If that isnt predatory lending on a grand scale then we dont know what is. TNT DIAS

I too have had multiple problems with FFHL and believe they have acted in a manner that would be considered contradictory to Bank of America policy. Since Merrill shut operations of FFHL down prior to BoA acquisition this is really just a department inside BoA and should be treated as such. If BoA makes a case for "special" actions by FFHL then we do have a class action case.
There are 3 courses of action that can be followed:
1. Get the mailing addresses of all parties you want to alert to your situation including:
- The Chairman of the Board BoA
- CEO BoA
- Your State Governance group (State House Representative, State Senate Representative, State Consumer Affairs)
- Federal (same group PLUS Director of HUD and TARP)
2. Make your case around the specifics of what you were told by FFHL and what happened
3. ASK FOR SPECIFICS for instance loan modification thru BoA not FFHL or refund on closing costs or whatever your individual issue is.
4. Do this as soon as possible.

5. Send all specifics of your problems to firstfranklinsucks@gmail.com

I hired a Mortgage midigation firm to handle this.. has anyone else done this? Seemed to me they would give me the run around..

hjkhjk

Everything I have read here about First Franklin is FACT! If you've been helped by them and had no trouble, you're one in the million so thanks your stars. For the rest of us, it's true. I lost my husband to cancer in 2008. Six months later, I lost my job - laid off. My son was in college. I got behind on my house notes and I just didn't know what to do. First Franklin gave me the biggest arounds and nothing but grief even though I was working with a home modification company. First Franklin did not want me to work with this company, they wanted to deal strictly with me. The lady from First Franklin who called me often acted as if she took such pride in telling me what the "government" was expecting of me. I don't know what the heck they were doing with my paperwork because they asked for the same paperwork over and over and over again. They finally brought my house note down, but they put me on a three months trial. After the three months trial, they took the note back up to almost where it was at first. Well, what the heck did I go through almost a year's headache and suffering with these people for if I they just took it right back to where I started in the first place! And guess what? They are STILL asking for paperwork that I have submitted I don't know how many times!

I have finally learned about NACA and I have attended the meetings and submitted my paperwork to them. I hope they can help me because I really don't know what to do. I am in my 50s and even though these jobs deny it, they DON'T hire your if your a certain age. So I am getting into my own business and it is growing slowly but surely, but in the meantime, First Franklin is trying to take my home for sure. My husband worked too hard for this house and with the money he had put into it, I will NOT hand it over to First Franklin. If they want it that bad, I will take everything my husband and I put into it before I let them have it.

Hi,
I was screwed over at closing too. My husband and I showed up for the closing and the papers were all wrong at the end...we said we weren't going to sign. They say "Come tomorrow an we'll make the changes." So, we show up the next day and they rush us through the paperwork and say all this is the same and they get to the numbers part and it was fixed so we signed it. Well, come to find out it was an ARM...it was supposed to be a fixed rate. I am pissed cuz when we found this out, we started a Loan modification in March 2009 and in November got a letter saying we qualified for "Obama's Making Home Affordable Program"...well, I just got a call today saying we make to much and NOW do not qualify. This was dragged out for so long just to tell them we are screwed...she told me to refinance and I said I can't cuz my credit went to shot and i am upsidedown on my mortgage...what a crock...waiting for so long and drawing it out for so long just to have them tell me I was up a creek with no paddle...I al SO open for a CLASS ACTION LAWSUIT against these scam ###...

My info is below:
June & Kim Neal
680 Quality Lane N
Lakeland, MN 55043
[protected]
Junesphotoservice@yahoo.com

Ronald J...
Hi Ronald,

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Notice I said the total amount due. They take into consideration the attorney fees and costs related to the the foreclosure process if ...that is if you are in foreclosure. and including costs to close the sale such as real estate commissions, recording fees or title and escrow charges. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

Be very careful of the Deficiency Judgments...
A deficiency is the difference between the fair market value of the property and the amount received, providing the amount received is less than the amount owed.

Whether the bank can pursue a deficiency judgment after a foreclosure or short sale depends in part on whether the promissory note makes the seller personally liable for the debt. Some states allow for personal liability.

You must be able to show proof through comparable home sales that your home is currently worth less than the unpaid balance.

Your mortgage should be in default or near default. In the past, homeowners had to be in default by three or more months to qualify for a short sale. Today, some lenders are allowing homeowners this option if the borrower is in distress and heading toward foreclosure.

You must prove you are in financial distress. This is accomplished by submitting a short sale hardship letter which explains why you can no longer make your mortgage payments. Hardships include life-changing events such as extended unemployment, chronic or emergency health problems, bankruptcy, death and divorce.

There are two types of short sale agreements -- 'deficiency judgment' and 'payment in full without pursuit of any deficiency judgment'. The first requires you to pay the difference between the short sale and original amount. For instance, if the mortgage note balance is $150, 000 and the short sale price is $125, 000, you would be responsible for paying the remaining $25, 000 to the lender.

If you are unable to promptly pay the difference, a judgment is issued for the amount due. This judgment is reported to credit bureaus and will remain on your credit report for 7 to 10 years; even once it is paid in full. Additionally, the deficiency amount may be subject to income tax.

Ronald, just make certain you are working with a professional Realtor or private investor who specializes in short sale transactions. An experienced agent can help expedite the transaction and protect your interests.

I hope this information helps you and that you are granted a short sale.

Short sales can take months and it is agonizing waiting.

The same is true with the mods unless you are trying to get a Making Home Affordable one..they take about 60 days. Go to the www.makinghomeaffordable.gov website for the eligibility requirements.

Hi. I have been working on either a Mod or Short Sale for about four months now. Has anyone had Short Sale success? My appraisal came in at $115K and I had an offer of $89K which was rejected. My listing agent pulled up comps and the highest sale for my unit was $90K. Are they just jerking my chain or is a Short Sale possible with this company?

Mad in Memphis...
Well... you have your opinion of me and that's fine. Knowing me is quite another subject. I am a cancer survivor and I have felt the pain of not having a job. Several times in my life as a matter of fact. So you can feel free to get off of your soapbox any time. Your immature and obviuosly contemptable comments only go to prove what type of person responded to my commentary earlier. Wishing someone's life to be shortened is appalling to say the least. If you had REALLY read what I wrote earlier, you would know that I was not referring to any one person's hardship. I did, however comment on what the one person said about burning his house down and the other one that said get a loan modification company. In no way did I make light of a person with a true hardship. That is NOT my nature.
And by the way...I DO NOT WORK FOR A BANK!

readerwritercommenter... at the time I bought my house ... I did not bite off more than I could chew. I have never had a "keeping up with the Jones" complex... I just wanted a decent unassuming place to keep me safe and dry. My house was 49, 000 with payments of 374.00... which I could MORE than afford... I even knew that it would go up to just a few dollars over 500.00 in a few years... which I still could have afforded with no problem. What I did not know and had no way to for see was that at 46 years old I would have a heart attack and be diagnosed with congestive heart failure and a few other problems. With my given health problems it made it a little tougher to make my house payments but I was still managing with never a late payment.. I WAS dedicated to pay back what I promised I would. At the end of last year FF decided that they needed to pay the taxed that I have already paid and up my house payment to more than 2.5x what it was because they are charge me for the year they supposedly paid and in anticipation of the next year. When I spoke with a rep and told them these taxes had already been paid... I was told there was nothing that could be done till it was reviewed again... When I told them I would sent just the payment ... I was told they would not accept anything less than what they thought I owed... so for a almost a year now I have been stretching beyond what I could afford to meet their 2.5x increase. Although I can no longer say I have never been late. But until this month I have never gone beyond 30 days... This month I will laps over the 30 day mark... which means I will have 2 payments due simply because their website will not accept a weekend payment and their phone payment is not allowing me to make a payment either... come Monday they will not accept a single payment they will want both payments... which is completely beyond me. My house will be headed to the foreclosure process and there is not a dang thing I can do about it. With my conditions and situation... there is no way I will qualify for mod or refi and I sure can't afford a lawyer... and all of this because they wanted more money that they were not owed. Because the FACT is I could have continued to make my normal house payment if they had not decided to play a numbers game... so I believe all these opinions because I am living in the same nightmare they are...my only advantage is that I am not emotionally attached to this house.

And the really sad part is that if I could have just made it another month or two they would have hopefully had to released the escrow that I have been paying into this past year... now they will retain it...that is not "good business" that is lone sharking under the guise of business!

A--hole - let me guess, you work for a bank right? Ah-h-h, as the saying goes "May the fleas of a thousand camels infest your arm pits." Better yet, may you experience just a little of what these people have gone through in their lifetime. Which, by the way, I hope your's is short. On the other hand, obviously you are so smart, I'm sure your life will continue to be perfect - without illness, job loss or God forbid, trusting someone in the mortgage business that presented themselves as a professional. I personally think you are arrogant and uninformed, but obviously you think otherwise. Please do us all a favor and go find someone else's soapbox to get on -we really don't care to hear from you.
Mad in Memphis

I have read through all of the complaints about First Franklin and I have to say that most of them are only opinions and not facts. People need to take responsibility. While there are those of you that have medical/physical problems and cannot make it for these reasons, there are those of you that actually want something that is just not feasible. Just because you have a rate that is higher than current rates, you claim a hardship. Why did you sign loan papers with the knowledge that the rate will change? This is your responsibility. I would never be that stupid to sign ANYTHING not knowing what I would be paying in the future. If I didn't have the ability to pay more than what I was signing for...then I simply wouldn't sign it. I would have had the good sense to decline such an offer. Had I gone through with it, then I would have put myself at risk of the unknown. No one knows about their job security as there has been none for many years and even less now. People are losing jobs across this nation and losing their homes to foreclosure. Many of these could have been avoided had they only purchased affordable homes and planned ahead. So now comes the request for the refinance or a modification. If you are eligible to apply..great! If not, then you are in bad shape. The fact that the negotiators are not returning calls gives me the inclination that they are extremely busy working on others' modifications as I am certain they are responsible for hundreds, not just yours. They work tirelessly probably only able to contact their customers when they have information to share. The man that said he would burn his house down, well I am sure that the local authorities would be interested in talking to you should your home go up in flames. That was a totally irresponsible and childish comment. The other person commented get a loan modification company...HA! that IS a joke. Do that and get ripped off. These companies have popped up on about every street corner claiming to "get" modifications for people. They cannot do that. The only one that has any say whatsoever about a mod on your loan is the owner of your loan. It goes back to the same thing..if you qualify you get one..if you don't, then you are out of luck. If you have applied for the Making Home Affordable mod, the government has their strict qualifiers and no one can dictate their own rules.
Have any of you claiming to be a victim of predatory lending stopped to think that the word predatory means greedy. I think you may want to check with your realtor/agent that got you to go to First Franklin. The greed falls with them. They make the deals and when you get to the closing, they have changed something and by that time it's too late. They want to make sure you are biting at the bit in want of the property and they fail to tell you that they couldn't escrow the taxes and insurance because that would inflate the payment and your loan would have been denied. Then they wouldn't get their commission.
Sub-Prime? What's that? Oh wait, that means you were not credit worthy for a Prime mortgage.
People should just take responsibility for what they have done and stop blaming the company who loan you the money to buy a home. I have looked at so many websites where hundreds of lenders are being blamed for not working with borrowers when in fact, they can't in many cases. The borrowers just don't qualify even though the lenders try for months to review the hardships and just can't help.
I wish the best of luck to all of you that truly need the help due to a financial hardship.

I spoke to a gentleman named Robert Ness at First Franklin and he seemed sencere on helping us and was very knowledgeable on what can be done with our loan. We had 2 houses at one point and could not get rid of one and that is how the whole mess started. We were turned down for a modification and thought we were at the end of our rope. Robert expained he would submit us for an Economic Forebarence, which could lead to a Modification in a couple months provided we follow the terms of the Forebarence. Now I dont like to get exictited and we will see what happens and I will update as to what happens. So we have not been entirely screwed over by First Fanklin YET!

don't try and do a loan modification on your own, you don't know the ever changing guidelines and you don't know how to send paper work to an underwriter.
Spend the money to save the money, hire a loan modification company

I would suggest checking out NACA.COM. I am in a similiar situation with First Franklin and learned about NACA this summer. They are a non profit consumer advocacy group that helps people like us to fight predatory lenders like First Franklin. Check out the website to see if there is an office in your area. It was a very imformative meeting and it cost NOTHING but your time. The idea is that they will help you by working with you and your lender to get your existing loan modified PERMANENTLY! That is the problem with Obama's HAMP (Home Affordable Modification Program), this is a temporary solution. I hope this helps anyone who's looking for help. I still have to do my due deligence, but NACA is advocating on my behalf and have educated me on what I can do for myself. I have contacted my US Senators in my state, as well as my Congressmen. I wouldn't have had the knowledge or inclination until I attended NACA's class.

I am another victim as well. I am a single mom with two kids my job had to do cut backs and I was forced to go to part time... I applied for the home modification and after getting the run around they finally called me to tell me I don't qualify because of my debt to income ratio... I believed them and my representative advised me to have my dad sign a rental agreement stating he was to pay me 1000.00 a month as renter... And quess what once I did that they said I qualified but unfortunately, I don't have a renter so now I am still struggling to make the payment and they are telling me I still owe all of the late fees I incurred? I have been told by other friends of mine that are modifying as well that I was scammed... That they are being modified and that it is 31% of your income and that late fees are suppose to be waived... Does anyone know where I can get honest answers? I don't know if there is anything I can do since I already singned my papers, but I would sure like to talk to someone that I can trust?

I AM YET ANOTHER CASE. I WENT THROUGH THE ENTIRE MODIFICATION PROCESS JUST THAT TOOK MONTHS. THEN THEY NEVER RETURNED MY CALL. WHEN I CALLED THEM BACK THEY JUST SAID "OH YOU DIDN'T QUALIFY". I AM CURRENTLY WORKING WITH AN EXPERIENCED MORTGAGE BROKER. HE IS TEACHING ME HOW TO DEAL WITH THIS SITUATION. DON'T GIVE UP TRYING TO GET MODIFIED, THEY NEED TO HELP PEOPLE LIKE US GET OUT OF THESE SUB-PRIME LOANS! I KNOW IT'S A LOT OF WORK, BUT THEY ARE BENT, AND EVENTUALY THEY WILL BREAK! KEEP WORKING AT IT!

I too am in the same deal with first franklin...i have 10% on first and 11% on the second my monthly payment is just over $2500.00 a month, i was told that i need to show a hardship so what did i do...i told them they where not getting payment this month. They asked why and i told them my interest rate sucks and i need to show a hardship, so now that i have done that and took a hit on my credit report they are telling me that i dont qualify. i was also told i signed the documents. NO S**T! Im not stupid but i just would like a low interest rate like everyone else. I just got off the phone with them today i told them i have no problems burnning this house down... then they told me that my insurance wasn't payed yet...WHAT A SHAME! I DONT WORK MY ### OFF TO GIVE IT ALL TO THEM

IM DEAD SET ON LAW SUITE I HAVE ALREADY TOLD THEM I WAS GOING TO DO THAT
SO LET DO A CLASS ACTION ON THEM

I agree with everyone's story. My husband and I, were victims of First Franklin. I was laid off of my job and we let them know ahead of time back in 06, once I found a job it was hard to play catch and our home went into foreclosure-right when we were trying to have the loan modified. First franklin did not want to work with us, while we were saying modified, they were saying -repayment, which meant, if we couldn't pay the amount of our mortagage with a high interest rate-what made them think we could pay almost 4 grand for the next three months before they would even consider negotiating our loan. So, if we made those payments on time to catch up our loan, then nothing would change! We hired an attorney that they didn't want nor care to work with-to get extensions and after 6 months of going back and forth with them-on information (information, such as check stubs, and bank statements) that they already had when we tried working with them without the attorney, they still came back with the same repayment plan. Modification these days, are a joke with First Franklin! Something should be done about this company and their business practices and ethics as a lender. When they didn't want to work with us, we wasted no time in moving, and honestly, it was the best move we could have made especially for our child. Better neighborhood and walking distance to the school. We wanted to keep our home as an investment once we got caught up on all of our bills, but, this was a burden not having to deal with them and for me, not having to cuss out yet another rep! I will check out all the websites dealing with sending the info to the white house for help and the class action suit.

@Mad in Memphis
I faxed my request on 1/9/09 just like you and waited and waited until I was assigned a negotiator. Don't leave a voicemail, just keeping calling until she answers. Their mentality is that if they have no new information for you, then they don't need to call you back. KEEP CALLING! When she does finally answer the phone, be polite and sincere and let her know how badly you need help. Yelling and cursing as some do, will not get you anywhere except the bottom of the pile! They are humans too and are under a lot of pressure, but I have been patient and polite to my negotiator and so far he has been pretty decent, although very slow. I am with you, had I got help months ago, I probably would not be behind at this point. 6 months of waiting to get an idea if they can do anything is terrible, but I know there are others who have waited longer. Keep holding on if you can! Best regards to everyone trying to stay afloat, I understand where you are coming from.

I submitted a request for modification on Jan 7, 2009 and they confirmed receipt on Jan 9, 2009 when I called. I have called weekly since then trying to get them to modify my loan in order to keep my house. My situation is similar to so many others, job loss and health problems -- but my greatest fear is not having a roof over my head. To date First Franklin has and will not call me and when I leave a message with the assigned negotiator, Jessica - I never get a response. My fixed interest rate is 9% and I'm simply trying to get it lowered at least a couple of points to help me handle the payment. I stay one monthly payment behind - which would likely be current had they worked with me five months back. Isn't it comforting to hear that they are now owned by Bank of America, literally the largest group of banking thieves in this country that's still in business.

Like all of you, I too have had nothing but problems and outright lies with this company. My mother and I bought our house in 2006 with an 80/20-we were encouraged to utilize this plan. We did not get the closing dcouments from this loan service until three hours before closing-furthermore, our truth in lending statement came one month after the closing. Our interest rate is 7.6 and 11.9 %. My mother had a bad stroke 1 1/2 year ago and her income is goes towards a private sitter. I have requested modification to no avail--just fed lies after lies. I am a single working mother with a good job--Thank God! but absolutely no assistance from them. I have had to file chapter 13 to try and keep the house, but FF is protesting this. I lost my car trying to keep my house by making double payements. I asked for a modification and discovered--to my horror--that it was a forbearance with notes up to 3200.00 a month. If there is anything I can do to sue these people--please help. The stress of this whole process caused much grief to my mother and I really believe that her stroke was caused by their predatory lending practices. Now I have to pay the house note and an additional 800.00monthly--FF claims that I am behind this much--this is not true. Any advise will be appreciated.

Amy this is great news I hope so because I have already filled out an application. I was not sure if FF would sign a commitment with the HAMP program. Iam happy to hear this information.

Dear Ms. Angry:
According to the government website www.makinghomeaffordable.gov Home Loan services has "formalized their commitment to the HAMP through a signed contract".

I have been a victim of First Franklin. I went into bankruptcy to save my home. I had to request a copy of my original loan documents as I was not given a complete copy at closing. Upon review of my docs, I noticed that my Truth In Lending Disclosure is incorrect. It shows that my loan is fixed for 5 years before adjusting. Actually, it adjusted after only 2 years, which is what put me in hot water trying to make the higher payments much sooner than expected. However, by them showing the rate and payment fixed for 5 years, it also showed an incorrect total of payments as well as an inaccurate APR. In addition to that, my spouse did not sign the TIL Disclosure. I live in a dower state that requires both spouses to sign this document. I am in the process of fighting the loan in it's entirety. From the beginning, it was not properly disclosed and very deceptive to me. If anyone else has had this experience, please let me know. I think that would make a great class action.

Iam a victim of this company they are horrible they are unprofessional and hard to work with. It took them nine months to approve a modification that did no justice at all. My payments went down $15.00 and Iam not kidding they gave me the run around. They would say they did'nt get the documents I was working with several people. because, everytime I would call back the other person no longer worked there. This company is full of bull. One thing I can say they are not in the business of helping homeowners. They are jerks and please advise anyone not to do business with them. First Frankiln / viewmyloan.com is not willing to help their customers who are struggling with this recession. I just hope they sign on with the new obama plan called HAMP because they do hath to but I sure hope they do.

Fun times with First Franklin Loan Services. AKA: View My Loan.
This started for us in fall of 2008. While my neither my wife or I lost a job, we did have a small income reduction. We could still make our payments, but as soon as the first ARM rate change kicks in we knew we would be in trouble. So we applied for a loan modification. After filling out mounds of paperwork, we waited for the answer that we were told we’d have by Jan 2009. But no, they were swamped and behind in processing. Fax two new copies of your pay stubs and wait 30 more days. So our rate went up and other bills went late. The 30 days was up and we called. (We noticed that they do not do any correspondence via E-mail or post. No record that way?) We were told they still hadn’t got to it, fax two new copies and wait 2 weeks. Every time we call they wanted new copies of our pay stub.
Well it is clear that they are stalling and have no intention of doing any loan modification, but in fact are just setting the stage for an aggressive collection of the debt. Now with a July bump in interest rates coming, (Does it EVER go down? Apparently not.) we knew we were toast.
We decided on a Short Sale. This was hard for us since we were both brought up to pay our debts in full. However the reality now is that we have to protect our family, even at someone else’s investment loss. But the only Short Sale we know of with First Franklin that they approved came with a deficiency payment plan for the short fall. Here in Washington State we do not by law have to accept it, but we know FF will refuse the short sale otherwise. (We now have 8 offers over current market value.) So foreclosure here we come, unless First Franklin develops some common sense. More as the drama unfolds…… ShortJoe

I completly agree with all the complaints on here about first franklin (home loan services). we are also battling the terrible so called modification they supposely set up for us is crap! It didnt help with anything, It took a year for them to get everything finalized. Still yet and all, with all the bull and hassel we went through to get approved for this poor crappy modification, it still didnt change anything. Our mortgage is still sky high our intrest rate is still sky high and now we are struggling more than ever. My fiance is laid off from his job and I am only working 2 part times. and we have 2 kids. This company is nothing but a rip off and they are not in it to help the struggling working class family. First Franklin gives you the run around to stall and waste time and then they tell you its nothing they can do for you if you dont make a certain amt of money or meet a certain percentage of a bracket. Its all a bunch of bull this home loan company. If I ever get a chance to do away with first franklin, Im going to make sure I will spread the word to any and everybody who is willing to listen, not to do business with this company.

For information regarding a possible class-action complaint against First Franklin - Home Loan Services, National City Corporation, and all other d/b/a's used during foreclosure proceedings - especially if your payments were misapplied, etc, please email - millenniumbizgroup@yahoo.com immediately.

First Franklin, Home Loan Services, Loan Services, Merrill Lynch, Bank of America - whatever you want to call them, they're all crooks and are federally regulated. They are not regulated by individual states. This I know because I reported to my state (Florida) attorney general / governor / department of finance who informed me that they could not help us because they are federally regulated.

Darlene: These garbage loans were not intended to be permanent loans, this entire organization knew that when the created these loans. First Franklin is the designer of these garbage 80/20 loans. They have culpability in this. Without the ability to refinance these garbage loans, these ARM's are ticking financial disaster time bombs. They are WMD's taking out all of us who are left unable to refinance in a hugely downturned real estate market. Granted, the downturned market was not masterminded by First Franklin, but the clearinghouse manner in which they issued these loans, then conveniently packaged them up and sold them to unwitting investors as AAA securities was their forte'. While other lenders are attempting to work with borrowers facing this situation, even if it is just temporarily for 2 - 5 years, First Franklin is uncooperative and unyielding. Won't modify the loan and because of the 80/20 loan and part sold and part not sold, will not permit a short sale or a deed in lieu.

Unless you are in this mess, you could not possibly understand.

Everyone else:

I belong to a foreclosure blog with many other First Franklin borrowers in financial distress, many have already lost their homes, many will lose theirs in the near future. Mine goes to auction on April 15, 2009. There is a group of three of us who are writing letters to the Whitehouse for help. We have established an email address where we are asking First Franklin customers who would like to participate with us to email us their stories. If anyone here would like to participate, please email your stories to hope4ourfamilies@yahoo.com or you can send them to my email address: airforcemom@hotmail.com. Please refrain from using profanity and write your stories in clear and concise manner with as much detail as possible. Please do not include loan numbers or any other personally identifiable information, just your First Franklin story. I will be happy to include your emails with or letter. Please email them by April 5, so that we have time to print them to include in our package.

Good luck to everyone battling with this company.

~ Evelyn

Dear Darlene,
As you already know your an idiot. Why is it everybody's fault because they signed the loan docs. People lose jobs, and get divorced and have loved ones die and get hurt. Many lenders are working with their customer base to "help" with their customer problems. It's called "good business" when they do. First Franklin's mortgages are mostly investor owned mortgages (AIG). They can't make decisions on these loans and they lash out at people because their hands are tied and the customer gets pissed because they can't do anything and they lie to stall or buy time before they get another call from that pissed customer. I have been down and I own a trucking company now and even in a bad economy the Lord has blessed me to be profitable. My advice to you is to donate some of your time to the less fortunate so you can the faces of the people you look down at. Pick up a book and educate yourself about ARM's. How did you deduce that people with this type of loan put now money down or knew they couldn't afford the loan? Lastly, "Alice" (trucker term for idiot, No offense if your name is Alice) take some time out of your busy day judge people and learn a little about economics. If you really think the mess we are in has anything to do with these "Mortgages" your clueless. We spent years with our heads in the sand. We as a nation have lost the very moral fabric that use to bind us. We spent 8 years ignoring the porn star president we had because we were making money. We continue to elect ###s into office because we "recognize the name" or don't show up at all. We complain about a war because it cost to much and think nothing of the mass genocide taking place (Hitler-Jews, Iraq-Suni-[censored]e, and on and on) and not to look like ###s we say "what about the troops". They signed up for it (I'm an ex marine who served in 3 different conflicts) and sorry you didn't get out before you were eligible for the GI bill. Finally, when did we become a nation of people that found more satisfaction from watching our own neighbors suffer then we did from lending them a hand when they down. I'm trying to help my sister save her mortgage and I'm doing some research. I'd rather make her payment myself then to read anymore ill informed and heartless drivel like yours, Idiot. Ken

I also have a loan with first Franklin Loan Services at 7% and at 11.8% for the second loan. I was aware of what I signed but when you start paying your monthly $1700 + $740 for the second loan, and not seeing a difference in the total loan amount, that really takes a toll on you. On top of that, I have an ARMM loan. I am just glad that the government now has drafted a Home Affordable Modification Program with clear guidelines for refinancing. Now, we will see what happens. I am so glad we have this website, now I am aware that I am not alone and we can do something about this if First Franklin continues to deny any modification application even with these clear guidelines.

Did you file a complaint with the Office of the Attorney General? You can do it online and from there they can direct you to appropriate agencies that can handle this specific complaint.

I am a victim of First Franklin myself. All they do is tell lies. They are the most predatorial lenders I have ever seen in my life. If you happen to fall behind a few months, because you was out of work due to pregnancy, they want give you grief.I told them now, that I can go back to work, can I do a modification to help get back on track. So the representative told me what paperwork, I needed summit.So I sent the faxed the paperwork to them, and even mailed it in. After 2weeks, checked back with them, since they didn't call me.The woman told me on the phone they still hadn't got my information yet.I told her I don't believe it, because I faxed and mailed in the information they requested.She told me the faxes didn't came in yet.I said, what about the mail.She said, they hadn't update the mail yet.Want except any payments, going on 5months no letter or phone calls yet.I told them I'm going to move out, they told me do not do that, but yall are not collecting money from, that is not nomal. I DO NOT WANT TO LEAVE MY HOME, BUT FIRST FRANKLIN, is starting to be little funny to me.So on my own, I sent them a FIRST CLASS MAIL, with the documents this time.I even called them at a later time.Waited 3weeks this time, and still no information update.So, I gave up this game their playing, and just stack my money, and keep the rest of my BILLS paid ahead.I am tied of worrying about it .So me and husband, pray that one day they get caught.We are all innocent families that didn' t know, and got caught up a terrible mess.I truely believe that GOD will help us in the end.{HIGHWAY ROBBERY}