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Option One Mortgage Corporation / Scam and cheating!

1 6501 Irvine Center DriveIrvine, CA, United States Review updated:
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If anyone out there has started a class action suite against Option One please let me know they have ruined my credit and I would like it too be fixed. Option One Corp. is a fraudulent company and someone needs to stop them.

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  • Ri
      18th of Mar, 2008
    0 Votes

    I was shocked to see all the complaints against Option One mortgage. I have had my ups and downs for the last year and have communicated to option one my problems and thought that I had worked out a plan to get on track only to find out that after I paid my way back to being current I find that I am still in trouble and owing 3200.00 that no one can seem to account for me owing. I get demand letters and threats every month and no one can help me figure out what's wrong. I get my normal statement every month which shows my payment amount and where it lists late charges and penalties it's $0.00. I don't know what to do, I've tried to refinance but other lenders won't deal with me because they say I'm 90 days late on my present mortgage and right now I to much of a risk. If anyone out there has an answer or is in fact starting a lawsuit against this incompetent co please contact me or include me in what ever process you engage in.

  • Ed
      31st of May, 2008
    0 Votes

    We had a 3/27 mortgage contract w/option one (Irving Ca.) the loan was taken out in 2004, they changed our rate early before the 3rd year, our rate wasn't suppose to change till 2007. they foreclosed on us and we had to file bankruptcy. They didn't foreclose on us for any missed payments. They foreclosed on us, saying we had unpaid interest for 6 months in 2005, 2006 that they claim to have notified us about, but they didn't. We are trying to file a claim against them but we are told that the 2 year statute of limitations have run out for a breach of contract. But our attorney they are subject to the 4 year statute in Pa. I believe this is true especially if they are a debt collector, but I can' t tell if they are or not. One attorney says they are not but on all the legal papers our attorney recieved from them and all the phone numbers we were given by them to call, say they are debt collectors. This sure sounds like fraud and deception by misleading our attorney and us in believeing that they were a debt collector in hopes we would think that we were covered under the 4 yr statute and that when it came down to it they would simply make a play on words and say that they are not a debt collection agency that all banks and mortgage companies are in words debt collectors and that the 2 yr statute should apply. We hope we can get this into the courts so the truth can be told. I hope the courts will allow us our day of justice against this poorly run and corrupt company. But we'll see if justice only works for those who can affort to pay for it or wether it is really justice for all.

  • Ma
      16th of Feb, 2009
    0 Votes

    Option one has destroyed my credit, my health and my relationship I hope they all get jailed ...also if anyone knows of any class action lawsuits aginst option one here in florida please let me name is mark and my e mail is

  • Ma
      16th of Feb, 2009
    0 Votes

    Ohh by the way option one is now first american home mortage and its still business as usual!!!

  • De
      24th of Mar, 2009
    0 Votes

    Lets take them down.It is there turn to suffer.I have wasted thousands of dollars

  • De
      24th of Mar, 2009
    0 Votes


  • Fu
      15th of Apr, 2009
    0 Votes

    I am convinced Option One gave a an adjustable loan for more than our house was likely worth (considering housing prices today). Option One knew we would never be able to pay it, BUT we were promised to be refinanced (through them_ before the rate adjusted.
    guess what?
    we had to fall many months behind before anyone would even speak to us.
    Furthermore, most of the calls placed landed on the ears of people i could barely understand, and who explained to me they were located in India. You heard me correct, INDIA!!
    Come to find out our mortgage was not an adjustable arm, but was written to adjust by at least one percentage point EVERY six months after the first adjustment.
    When I did get ahold of someone in the USA he explained to me (so charmingly) "you should have read your mortgage agreement more carefully".
    WELL DUH!!!
    as first time home buyers I feel we were taken advantage of.
    Were we under-educated about home buying?... YES
    Were we too trusting?...ABSOLUTELY
    Should we have had an attorney to protect us?... 100%
    Was our home over priced and our mortgage more then we could ever handle? YEP

    Our lives are a mess now, house foreclosed, dream gone. We do not trust anyone. Never trust your realtor, your broker, and certainly not your lender.

    OPTION ONE is a predatory lender.
    are us borrowers somewhat at fault?
    yes I think somewhat. We are being punished...
    now what about the lenders?
    all i see them getting is bailouts and help.

  • Ro
      18th of Sep, 2009
    0 Votes

    contact a fraud auditor and get an attorney, that is what I did, turns out, I was paid 4400 ahead. They have me at 36k behind on my mortgage, my attorney said they will want to settle. Anywhere from 1.00 to the full amount of my mortgage. Also, it may be that they did not even own your mortgage when they started the forclosure. Many of those loans were sold into a mortgage pool. If they can not produce the ORIGINAL, not a certified copy of your mortgage, you might not have to pay them, they may have to right of the whole debt. GET AN ATTORNEY FAST

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