African American and Hispanic customers of First Franklin Home Services were notified of a discrimination settlement late 2010. Suit accused First Franklin of charging both nationalities higher interest rates than they were charging whites in the same pay, income, etc. Case was finalized Mar 15, 2011 with class members being told that they are eligible to seek Loan Modifications from BofA who now service our loans. Well, what a joke. There were around 207, 000 class members who shared a little over $3M so of course we will receive something like $18 (that amount is a joke) but that's no big deal to me. What is a big deal is that BofA pretends to care so much and are so willing to help with Modifications that they immediately tell you to submit the paperwork as soon as they took over the loan, even before the lawsuit was confirmed - I submitted for a Mod in Jan 2011 and they start the lost papers, send more certified, fax, etc. Now this is the kicker - there is a website maintained by the Settlement Administrator : www.firstfranklinclaims.com that gives updates on status with the last update being Apr 13 the same day that BofA supposedly called my house for some additional information from me but when they got no answer they supposedly denied my modification the next day Apr 14. I only found out on Apr 20 because they called me the night before and left a message to call so I retuned their call the next morning Apr 20. A guy told me that they were denying my modification for non cooperation & they are going to foreclose in June. I asked him how did I not cooperate? He said that my telephone number was my POC but they couldn't contact me. Now mind you that First Franklin did a Modification in 2008 to include a Escrow account and said they were not modifying my 8% interest rate but would consider in 2011. As much as I disliked First Franklin they were working with me. I was a few months behind but that was because I moved to this house in Tx from California a year ago. I have owned it 5 years but just moved here last year and had to furnish everything living rm furn, stove, frig, etc. I still don't have a bedrm set just mattresses on the floor, no frame. I missed a month here and there but not 3 months in a row. First Franklin seemed to understand and never really pushed me because I let them know that I would make it up when tax time came. The Making Homes Affordable program denied me also but only because I didn't have a Tx driver license. I still go to CA to work sometimes as a substitute in a school district so I hadn't applied for a driver license because the Making Homes Afforable didn't tell me until Apr 20 that every paper I submit has to match my address. I was too through figuring out how they operate. The newest problem is that TX doesn't honor other states driver license so they denied me a driver license because I don't have a birth certificate or passport. I am 62 and from LA in a tiny community. I was born at home and about 35 or 40 years ago we tried to get our birth certificates with no response. Left it alone since I have never been asked for one since then but now I sit waiting again hoping LA has come up in the world and can locate it. Until then I have to wait on the birth certificate but I'm contacting a lawyer because I have my letter from 2008 when First Franklin said they would look at Modification this year. With an 8% interest rate since Feb 2006 when I bought this house for $168, 500 - I pay over $1100 a month plus I paid $25, 000 down. Now that's somewhere in the area of 60 months at $1100 plus $25, 000 - I should have paid somewhere near $80-85, 000 but my mortgage has only went down to $160, 000. I have actually only paid it down $8500. I plan on having the lawyer look at that also. I understand my being behind but if they reduce my interest to what it should have been in the first place they would probably owe me $15-20, 000. I think I'll see if the lawyer can see if the court that heard the case can hold BofA for what seems to be willfully denying me a modification based on the timing of the settlement update. Anyway I feel like BofA is not acting in good faith so I hope I can push them back. By the way I see that you guys are still referring to First Franklin. Are you not with BofA now? Sorry, I could go on and on and on. I'll spare you all -
I refinanced my mortgage with Franklin First Financial only to have it sold less than one month after closing. I received a letter from them requesting the first month mortgage when the loan had been sold to another bank which was also requesting the mortgage payment. Franklin First has contacted my employer on at least 6 different occasions and informed my boss that I was not paying my mortgage payment and was in default of my loan. I was let go from my job and they still continued calling my former employer and disclosing personal financial information. They have also called my sister on several occasions and left voice mails indicating that they were looking for me because I did not pay my mortgage. As if all the calls were not enough, they also showed up at my home and spoke to my 70 year old mother and told her that I was delinquent and they were going to foreclose on my house. I came home to find my mother in tears that we were going to loose our home. I have never heard of a company that comes and knocks on your door to collect on your mortgage, If I did owe them that first month mortgage they would simply file a judgement against me and my home, but since they are trying to scam me out of one mortgage payment they are resorting to harassment tactics which are not only illegal but unethical. I am contacting the Better Business Bureau as well as the Banking Department and filing a complaint.
This company is a bunch of rip off artist. They will tell you everything you want to hear and then totally rip you off.
They say they will refinance but won't. Then they will move around your loan and not tell you they do. My family had a automatic withdrawl payment but they said we were late. How does that happen. Oh yeah they moved our loan to one of their other compnaies, but didn't tell us about it. But still took our payment for a year before saying anything. And that was to say get out... Said they took pictures of the notices for us to leave but will not produce them..
I am a disabled veteran and this mortgage company said they would work with me but has not and said that I either should sell my house or I will loose it. I have a fiance and 5 children and i think First Franklin would rather see us living on the street then helping and keeping us in our home. They say they will help in hardship times. YEA RIGHT!!! They want you to come out of it before they will help.
When you are a disabled veteran and do not work anymore and cant due to your injuries, that was sustained while in IRAQ, serving our great nation and keeping the people safe that work behind that desk, you think they would help, even if it was to take the 9.7% interest that I pay down to at least 6% that would help me to keep food on our table and water running to take a shower and lights on to keep our milk cold.
I have never heard of a mortgage company that don't give a rats @!# about any of its people. I have a loan of $76, 000 with this place and if I get to keep my home in 30 years I will have paid this dump over $279, 000. All I have to say to this place is "First Franklin you are not welcome for anything and they way you treat a veteran you should take your company over seas and you would fit right in with the teariest, and for the way you treat a man that has fought for you to have your chair on wheels that you sit on every day!
First Franklin illegally entered my home, changed the locks and removed all of my belongings. All they did was say it was a mistake and returned the new key. And then they did it again two months later. I have tried contacting them repeatedly by phone, mail, email, fax. They have ignored all communications from me and my attorney regrading the incident. This happened 8 months ago. I have not received any response from them at all.
They know that this is illegal and refuse to acknowledge that it has happened. What should I do to get this situation rectified?
I am five month behind my mortgage with Franklin Loan Services. Since last March I have tried talking to them in regards to a modification, they told me they will be assigning a negotiator to my case and that it will take like 90 days. Since then I have been calling and inquiring about the status, but they just say I have to wait.
By the month of April, they got into my property and change the locks, turned off the power and water, by then I was out of town and when I came back I realized what they did. By then I was 2 month behind and my neighbors told me what happened, that the bank came and showed them papers alleging that I was behind for a year. When I got inside my property all my the food in the refrigerator was discomposed, the refrigerator was filled with worms and the smell was unbearable, the water from the fridge flowed to the carpets and it absorbed the odor. There were worms also in the bathrooms and some other places of the house. The refrigerator was useless and I had to disposed of it ( 2 years use).
Now they told me they will not guarantee any modification on the loan, that they do not give anything in written stating that they are working my case and if I want to receive any compensation in regards to what they did to me, I have to sue them.
Can you believe this, the ones who have the power (money) do what ever they want with you (even though the property was protected by the Bankruptcy Court) and there is nothing you can do at respect, in fact, they told me they have no obligation to modify my loan (9% interest rate).
Truly the worst bank I have ever dealt with.
The ladies were really rude and disrespectful. Went all the way as to start calling my a liar! The black lady simply stopped listening to me and went to the back to talk to one of her coowrkers while the other one simply jusr picked up the phone and started calling her son as she asked me to hold...i waited so long, i just took my paperwork and left. I already have a loan with this company and the approved me for some more money but when I went to sign the paperwork and get my check, they refused to do so stating that they did not give loans to people employed by staffing agencies and that was the end of discussion. She forgets that she already gave me a loan that i'm still paying off last year...I was shocked on the rudeness and service I recieved.
This has to be the worse company to deal with. It takes them over two weeks to get an overnight packages, 10...
My wife became disabled and I fell behind on my payments, I called to make arrangements to get caught up. That all work out fine until I tried to do a payment by phone. I talked to ‘Mark” he took the info and read it back to me but then entered the wrong Bank account info. The company never tried to call me when the check came back. The only way I knew that there was a problem is when I seen that the check never cleared and I received a certified letter that I was going to be foreclosed on and they even gave me a date for the sale. I called them and ask what was going on and the person on the other end said that when the check came back it automatically made any other arrangements null and void. The lady that I talked to even played the phone conversation back and came back on the line to explain to me that they were sorry and that she did listen to the call and all of the info was repeated back but it was entered wrong. I ask if I could make a payment and was told that it was too late for that and someone from the resolutions department would call. Well I am still waiting. I have called them back and all I get is a recording.
First Franklin can not be trusted and be wary of any false hopes offered by this company. After dealing with...
I got a loan in 1/2007. After 1 year I tried to refi but was now 40K upside down. I got behind as my income fell more than half. 4 times i sent them 49 pages of docs to mediate the loan. Each time they did not receive it and I got further behind. The ywould not accept a mailed in package...only faxed. Finially I got a forclosure notice and I was able to talk to someone. He said to fax it all again and he would get my loan to the mediation dept. A year has now passed. Now they offered me 9.7% from 12.7% for 3 years and then back to 12.7%. They also based the new payments on the true value of the home 118K and put 102K balloon pmt at the end of a 31 year loan! Who would do that?
we were gong to be okay through this economic disaster until first franklin loan thieves decided "oh, we don't refinance any longer and you have to re-apply for the loan" when we refinanced 5 years ago, we demanded a fixed rate-but as you can see due to this companies underhanded business dealings we will probably lose the house. Do you need a Lawyer to re-finance these days??????? And also the people who sold our mortgage to these thieves are being sued. [protected]@sbcglobal.net
For all victims of First Franklin: GET A LAWYER!!! Seriously - if you have to beg, borrow or work extra hours to make the money, you will not regret it. Their latest scheme is to offer $1500 for you to vacate the house by a certain date in exchange for the keys to the house. This "program" is called Cash For Keys, and is administered by First's "Asset Management company". If you receive it (usually delivered by a local realty agent representing... you guessed it; First Franklin) - READ IT VERY CAREFULLY BEFORE YOU SIGN IT!!! It relinquishes your right to file suit against First, their attorneys and any other "assigns" First sees fit.
Should you possess documented evidence of your dealings with First & their negligence in your request for assistance (as we do), you will definitely want to talk to an attorney prior to signing the Cash For Keys agreement and shooting yourself in the foot. You can negotiate the amount of time you have to vacate the premises, as well as the amount you ask for in order to leave, but talking to an attorney will ensure your personal protection, because believe me - up until the very end, First is protecting themselves.
YOU SHOULD, TOO.
RUDE - NO CUSTOMER SERVICE - NO HELP W/ARM LOAN!!! We ended up somehow getting into an ARM (adjustable rate...
This company gave us a mortgage via a mortgage broker that is a predatory loan. 8.9 % for a "2/28" ARM and...
I have been trying for months to work with first franklin to sale my home due to relocation. They sold our...
I have a mortgage with First Franklin and I send extra money to apply to my principal every month, either...
This company keeps calling my wife and I to harass us even though we told them we are not the people they were looking for. They said we are behind in our mortgage, I have no mortgage with this company and I don't recommend anyone to go through them especially when they harassed people that are not even their costumers, imagined if you are their customers. They were the one that called us and they want us to give them our personal information over the phone. I was not born yesterday. I tried to make their job easier by telling them they got the wrong person but what did they do? accused us of being liars.
I have been going through an adjustable rate reduction process with First Franklin Home Loan Services since...
First Franklin in cohoots with a mortgage broker conspired to commit mortgage fraud no only against me but my...