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Flagstarloan modification

I requested a loan modification due to a divorce and my income being reduced by 60%. I couldn't refinance my loan because my property depreciated by 40, 000. I was told that I couldn't modify my loan unless I was 4 months behind on my payments. Once I was behind, my file was closed over and over again even though I sent in all the required documents. When I tried to send in payments I was told I had to send in the total amount in arrears. Next, I was served with foreclosure papers. FLAGSTAR IS ENCOURAGING FORECLOSURE BECAUSE THEY COLLECT ON THE MORTGAGE INSURANCE AND THEN SALE THE HOUSE FOR PROFIT WHILE HOMEOWNERS ARE LOSING THEIR HOMES DUE TO INCOME REDUCTION FROM JOB LOSS, DEATH OF A SPOUSE, OR DIVORCES. I'm filing a civil law suit so if this has happened to you email me at [protected]@gmail.com
with your name and phone number to put an end to Flagstar's corporate greed at the well being of homeowners experiencing a hardship.

Responses

  • Da
    Daisy Deleveaux Jul 24, 2017
    This comment was posted by
    a verified customer
    Verified customer

    I have been a victim of FLAGSTAR BANK FOR THE PAST 8YRS. Doesn't anyone want to help those of us out here who have been? WHAT
    HAPPENED TO THE AMERICAN DREAM? IS IT JUST OFFERED TO FOREINERS COMING into AMERICA? I WAS BORN AND RAISED HERE
    and can't get a brake from the institutes sworn to HELPING THE CONSUMER LIVE THE AMERICAN DREAM. BAH HUMBUG!

    0 Votes
  • Ja
    Janet Fairley Jul 25, 2012
    This comment was posted by
    a verified customer
    Verified customer

    I, too, am trying to file a lawsuit against Flagstar. This is the worst pack of crooks I have ever encountered and they seriously need to be stopped.

    0 Votes
  • Ti
    Tierney Smith Jun 30, 2012
    This comment was posted by
    a verified customer
    Verified customer

    I had been trying to do a home modification from January 2009. I sent paperwork in as requested and in June 2009 I was told by Flagstar-loss mitigation that there was nothing further they could do for and that my house was due to sell in days without warning...August 2009 Freddie Mac sent a company out to the home (Titanium Solutions) to check on my status and as to why I didn't want to make the mortgage payments. I handed over every piece of paper that i had given to Flagstar. I called Titanium Solutions and was told that I had been pre-approved and also told that they would be contacting me as soon as the detail were worked out. I would call and check on my status monthly and I got the same answer each time, "we are still working on the details of the loan". In September 2011, I received a letter from Flagstar stating that they had worked out my loan mod and were setting up an escrow account. I waited for to finalize the loan docs and nothing ever came. In January 2012 I received a letter from Freddie Mac's attorney informing that I my house had been sold January 2012 and they were offering me cash for key. I called Flagstar to let them know of the situation with the attorney and Flagstar stated that Freddie Mac know that we have done the mod I don't why they would call with that. I was informed in May 2012 by Flagstar's rep from the loss mitigation department who told me that my home had been sold in January 2010 (which I never received paperwork for). I also have paperwork the was dated for March 2011 received in February 2012... I missed two offers of cash for keys because Flagstar and Freddie Mac were not on the page. I have stuffed undue extreme stress and I know that I have been treated unfairly. I know both company practice UNFAIR BUSINESS...I am very much interested in a class act lawsuit of any kind against these company. My contact information is [email protected]

    0 Votes
  • Di
    disgruntled home buyer Feb 23, 2011
    This comment was posted by
    a verified customer
    Verified customer

    me and my wife have been trying to buy a short sale for the past 4 months now with no luck at all.we keep getting a runaround from flagstar which holds the mortgage on the house, does anyone know if you can actually file a complaint with hud against flagstar?

    0 Votes
  • Th
    T.H. Jun 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Join our Facebook page! People Against HAMP!!!

    These lenders (Wells Fargo in particular) are taking advantage of the HAMP program by deceiving customers. They literally lie throughout the entire process so that they can make money off of your foreclosure. The mass media needs to get on this! This is fraud and it is happening to thousands of people nationwide! They put you on a "three month trial" they tell you to if you continue making the modified payments and submitting your paperwork you will be approved for the mod and done. Throughout several months to even years they string you along telling you to just keep making your payments and we will get you on the mod. They did this to us for 10 months, constantly losing our paperwork. They tell you their will be no fee's while you are on the program. What they fail to tell you or simply lie to you about as in our case is that after the 3 month trial period they put you back onto your original payment - while you are making modified payments that they tell you to make they are tacking fee's and penalty after penalty. You find out (in our case $40, 000 later) when you get the sudden foreclosure notice on your door that your loan has been penalized the whole time you were supposed to be on a modification. They then tell you you have been kicked off your modification and you have a few weeks to vacate your home, when it goes to auction. They auction your home at a fraction of the price owed and then are reimbursed for the remaining amount by the government. They then come after you for the back fee's and penalties after everything you have gone through. They are taking advantage and making money off foreclosure's, the more money they get out of the loan, the more money they make from the government. The gov. is encouraging and supporting this. This is pure, outright fraud by the people that are supposed to be protecting us! These lenders are pure criminal. Journalism excellence is the efforts that go towards helping the people, this is your job, to be the watch dog. This needs to stop!

    0 Votes
  • De
    Deanz Apr 13, 2010

    Flagstar Rejection Letter and Information from the Attorney General’s Office

    March 17, 2010
    Dear customer (ME), Flagstar Bank has reviewed the information you provided to be considered for the U.S. Department of the Treasury’s Home Affordable Modification Program. Unfortunately, we are unable to proceed with modifying your mortgage under this program because you DO NOT meet one or more of the basic program mortgage and property eligibility requirements established by the Department of the Treasury as noted below:

    “DEFAULT NOT IMMINENT
    “We are unable to offer you a Home Affordable Modification because you are CURRENT on your mortgage loan and after reviewing the financial information you provided us, we have determined that YOU ARE NOT AT RISK OF DEFAULT because: you have not documented a financial hardship that has; reduced your income or increased your expenses, thereby impacting your ability to pay your mortgage as agreed.

    Dean; I have documented a $90, 000 loss in pay because of my job loss. An increase in my monthly expenses of $1, 387 because of the job loss; Things the company paid for that I have to pick up now:
    1. Car payment $404
    2. Cell phone $126
    3. Internet $39
    4. Health Insurance $554
    5. Life insurance $264


    Letter of activity from Flagstar

    1. June 30, 2009
    a. Mr. me sent us financial worksheet only. Unfortunately, because of the number of requests being received, we have NOT been able to respond to customers as quickly as we would like to do so. And….because his loan was current and, therefore he was NOT facing eminent foreclosure, Mr….’s file was NOT reviewed by a “pre-analyst until……

    2. August 21, 2009
    a. At that time, because of the missing information (I sent it in three times and also uploaded the (“missing information”) a “Missing Information Letter” was sent, requesting proof of; retirement, pension and SS. The file was NOT reviewed again by our “Pre-analyst” until……

    3. October 12, 2009:
    a. Do to the volume of requests being sent. At that time, the documents we had on file had expired and we requested UPDATED FINANCIAL INFORMATION.

    4. November 11, 2009:
    a. The file was assigned to; HOME AFFORDABLE MODIFICATION PROGRAM (HAMP) team
    b. At this time, Fanny Mae was doing a campaign for DELINQUENT BORROWERS who may be eligible for HAMP.
    c. 3rd party vendor to help

    5. December 11, 2009
    a. We assigned Mr…..file to….STERLING HOME RETENTION

    6. December 24, 2009 (yes)
    a. `Sterling spoke with Mr…..and completed a verbal interview
    b. All files, paper work etc. must be sent again to Sterling Home Retention.

    7. January 25, 2010
    a. STERLING received ALL documents

    8. February 9, 2010
    a. Flagstar notified by Sterling Home Retention that the company was NO LONGER IN BUSINESS…I KID YOU NOT….

    9. February 12, 2010
    a. Letter to all customers who were working with Sterling notifying them (us, me) of this and requesting that (They, WE)…..are you ready for this……that we SEND US (FLAGSTAR) UPDATED INFORMATION…..again
    b. We received Mr….(me) updated documents on

    10. February 26, 2010
    a. Documents okay


    11. March 17, 2010
    a. Mr. (me) was reviewed for HAMP:
    b. However Mr (me) DOES NOT MEET THEIMMINENT DEFAULT REQUIREMENTS SET FORTH BY THE INVESTER Fanny Mae.
    c. We have (gave, they can’t spell either) denial letter for HAMP AND ADVERSE ACTION LETTER.
    d. At this time, there are NO loss mitigation workouts available to Mr…(ME)

    That’s it. If any other business used these tactics, they would be called before somekind of agency, lose their license etc.

    I did file a complaint with the Ohio Attorney General Richard Cordray and they wrote back and said: “I regret we cannot assist you further, but hope you feel free to call the Attorney General’s Consumer Protection Section should you have other consumer related problems in the future.” Yea, sure

    Is he (Cordray) running this year??? Mmmmmmmmm

    0 Votes

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