The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Flagstar Bankmissconduct / bad business practice

B Review updated:

with all the complaints on file this company should not be allowed to write any more loans... I have been making all my mortgage payments on time by auto pay set up from bank to bank, then one day I receive a foreclosure letter. I was shocked never behind my mortgage payments how could this happen, I thought a home owner have to be behind their mortgage payments for 90 days before getting a foreclosure letter so what is going on with this Bank what accounting system this Bank has... Now is my job to prove to this Bank who I believe doesn't have a clue of what it feels like to pay your bills and be facing this situation I had to spend money to retain an Attorney and prove to Flagstar that I was never behind my payments where is justice. I think there is none what so ever because if there was I wouldn't have to face this situation. . I am out of pocket thousands of dollars money spent on attorney fees and Flagstar is untouchable. Please if there is any one with similar situation with this Bank I would like to hear from you my phone # [protected]

Responses

  • Dr
    Drea07 Oct 14, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Stay far away from Flagstar. If you happen to get stuck with them from your oringinal lender selling your mortgage, like I did, DO NOT join their repayment plan. It's their gateway into ruining you and trying to take your home. Try and find someone else to take your loan if you can. I set up with their payment plan in May, set up three mortgage payments to auto debit from my checking, was told I would only get the late fee for May and no other fees or phone calls. Well they sent a person out too my house harassing me to call them immediately, then chaged me for the harassment. Even though my account showed three payments set to be debited on the days THEY requested. They then charged me again in July, when no one showed up or they left no letter if they did show. In June they sent a letter stating my escrow was short $100, after the third payment applied, I had over $100 in suspense funds, instead of paying the escrow, they paid themselves and added $8.86 shortage charge every month since. They claim their was nothing in suspense and don't see what I am talking about. It shows the money and what they did with it ON THEIR BILL AND WEBSITE!! Was late in August, (they sent someone out again and charged us again) paid all of the normal monthly August and September payments in September, minus their fees. They reported to the credit Bureaus in September that September was not paid. Again they paid themselves before applying the loan payment. Then fasly reported to the credit bureaus that we never made our payments, hitting our credit twice for September. We had no idea they took the payment for themsleves until October 12th telling us they want another full payment plus their fees (that they already took) by October 7th. They have deliberatly destroyed our credit, harrassed us, and try to keep us in default. They already had a class action suit in 2014 for such practices and they lost $24 million...appartently the suit did not bother them.

    0 Votes
  • Wi
    wingmen13 Jun 30, 2014

    Flagstar Bank is horrible. My home was flooded, luckily I had insurance. Regulations forced the insurance I paid for to write the check in my name and Flagstars. Flagstar was supposed to have paid me an initial draw for repairs (1/3) but still hasnt given me anything to this day. I am 15, 000.00 in the hole over these repairs. Still nothing. I am considering pulling up stakes and just letting them have the home. To hell with it...

    0 Votes
  • Li
    Link Sep 26, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I would not recommend anyone to get a mortgage through Flagstar Bank. They are unprofessional and will cost you the deal. Underwriters will not return calls and do not work in a timely fashion.

    0 Votes
  • Tm
    tmb Jul 29, 2009

    Certainly banks are troubled, but, be especially cautious here!

    Q2 2009 results indicated a 76.6 MILLION dollar loss for the quarter. Over 144 Million loss YTD.

    Tread carefully on the snakes.

    0 Votes

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