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Save My Home USA / out of business

1 Madison Heights, MI, US Review updated:
Contact information:
Phone: disconnected

Save my home is a scam anyone posting anything otherwise is most likely chad himself. I have been in the finance business for 9 years there is not one single complaint ever against me. If you google save my home and or chad buchanan you find numerous complaints, the fact that he helped one person does not negate the fact he stole from the rest. Save my home is no longer in business go to the website, call the number, call chad!

Anyone who would take time to leave "positive" messages on a complaint message board obviously would be none other than the alleged rip of artist him self.

The worst part about this whole deal is we are talking about peoples homes, chad is the lowest of the low! Taking advantage of desperate people is unforgivable.

That said, he/save my home (ya right) took advantage of my 76 year old father whos house is going to auction after smh told him not to make his payments.

Now chad and the rest at save my home is no where to be found.

Im hoping someone finds him, someone who isnt 76 and perhaps is a mixed martial arts pro

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Comments

  • Sl
      Aug 24, 2009

    Save My Home took me for 1200 dollars. I really enjoyed working with and talking to the people who worked for SMHUSA, and i feel they truely cared. They submitted the paper work to my mortgage lender and checked up on the progress of it to me regularley. When I tried to contect them due to the decision on the loan modification and an error made, they are not answering their phones or responding to emails. I am just learing that they have gone out of business and that the president of the company, Jason McCallum, is a fraud and i guess is a Chad Buchanan in real life. As soon as i found out i contacted my mortgage company and they are willing to work with me. I feel sorry for all the people out there that have lost their homes because of this jerk, and also to the folks that worked for this slime that tried to help us. Money back guarantee, right!

    0 Votes
  • In
      Aug 24, 2009

    This company (SMHUSA) is certainly not doing business to help anyone out but themselves. Not once did I have the underwriter contact and tell us what was happening. I did get calls about reducing our payment but to send in so much today or tomorrow type thing. ANd everything is ok. Just waiting on such and such. They probably don't even know who my lender is...

    Now we have a different company to deal with and no surprise they haven't answered any emails yet.

    0 Votes
  • Br
      Sep 01, 2009

    I am in the same boat! $2300.00 and 6 months later..to find out they did nothing for me. I have in fact called my lender and am trying to work out getting current with them. I am in the first phase of foreclosure and am freaked out by it!

    I also know that this jerk did not pay people that worked for him. We are all in the same boat.

    What a jerk this guy is! If anyone knows how to get our money back ..If at all possible I would love the help. I appreciate any help at all.

    Denver, CO

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  • Go
      Sep 02, 2009

    HAMP – The Home Affordable Modification Program is NOT working. To date, only 235, 000 loans have been modified under this program, while funds have been set aside to modify up to 4 million loans. To find out if you technically qualify for a modification based on HAMP guidelines, click here to access the 5 question quiz on the government website.

    The banks have all kinds of excuses why borrowers do not qualify for this program. But the number 1 excuse banks are using is that the guidelines are too rigid. For instance, your mortgage payment cannot exceed 31% of your gross income. First of all, loans were not originally underwritten with this 31% number, so technically this makes almost all borrowers eligible for HAMP. But loan servicers are saying the formula is too narrow and does not take into account all the other debt borrowers have or are piling up during the economic slowdown. CitiMortgage, which services one out of every ten mortgages in the U.S., says the formula is the #1 reason why borrowers are being excluded from the program.

    Some banks are using the excuse that they do not actually own the loan, but only service it, so they cannot modify a loan they do not own. This is a tired excuse that most of the major news networks have already covered. Servicers CAN modify loans, regardless of this excuse they are throwing around.

    Some servicers are coming up with their own plans for modifying loans. From what I am hearing from my readers, and from other media reports, most of these “plans” are a joke, intended to benefit the lenders, not the borrowers. Here's an example of one such "plan. This lender, Carrington Mortgage is switching people out of fixed rate mortgages into variable rate mortgages, and while deferring delinquent payments, and adding them to the principal, (AND still reporting the borrower delinquent to the credit bureaus), they are putting this borrower at the mercy of the market. This is a stop gap measure at best, and another money maker for the lender in the long run.

    Other lenders are allowing borrowers to stay in their homes as renters, while following through on the foreclosure process. This sounds to me like the banks protecting only themselves, while borrowers are really taking it on the chin. Sure, you stay in your house, but the bank owns it, literally can throw you out at their whim. In the meantime, the bank does not have to put the house back on the market during this depressed valuation cycle, or leave it vacant, because they have a renter in there to maintain the property, and carry the debt.

    Still other lenders are putting people into modifications on a “trial basis.” While we don’t have details on these “trials, ” what we do know is that as long as the bank “modifies” the loan, the collect government incentives, unless the house is sold. This explains allowing the now non-owner of the house to remain in the property. Technically the house has not been sold? But it has – the bank owns it now, not the borrower.

    What is clear is that the guidelines for the HAMP program require drastic revision, or it will never work. I am not advocating that all delinquent borrowers should get a 2% modified rate for the life of the loan.
    Perhaps dropping the rate to what is truly affordable, given all a borrowers current debt, and current income, for a period of time, perhaps 2 years, and then gradually increasing the payments to a reasonable market level of 5% perhaps for the remainder of the loan, makes more sense than the “innovation” that banks are using now.

    In any event, the push is on to get banks to modify loans, so the government is again handing out money to banks to make this happen. The banks slated to receive the largest sums of money for this program right now are Countrywide (now owned by B of A), Chase, Wells Fargo, and Lehmans. I’m sorry, but aren’t most of these the very same banks that just reported hundreds of billions of dollars in profits last quarter? When do we stop rewarding banks for their failures and poor management, and start taking care of the people in this country?

    Today is September 1. Congress is back in session, and there is word that HAMP will be addressed again. Maybe they will come up with a plan that will actually work this time?

    CNBC reported this morning that banks are easing up on "short sale" approvals to try to assist homeowners facing foreclosures.

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