I learned a very painful lesson in real estate the last two years, and my newest lesson just days ago. My loan has been taken over by AHMSinc, work got slow, a near death in the family, and my mortgage rates were rising out of sight. I applied for a loan mod in may, 09. I was accepted in oct, and was told to make three trial payments, which i made, So in the middle of Jan, I still didnt have a loan so I called AHMSI and was told to make another trial payment for feb. I sent them a payment, but it was sent back to me on the 12th of feb, so I called them again and this time I was told that the funds have to be certified. I explained that I had sent a personal check last month, and was told I was on the trial payment plan last month and personal checks are ok, but now I am not in the trial period and the funds now have to be certified, even though I am making the 4th (trial payment). So I asked the guy helping me does he want me to get a cashiers check. He is looking at my file and tells me that my loan has been completed and it would be less confusing if I dont send a payment, and my first new loan payment wasnt due until April 1, he says I will have loan papers to sign within ten days. That didnt happen And now its March and I call back only to be told that Im two payments behind and can I pay this amount today, I say what amount? He says your new loan amount, well I dont know the amount cause I have not received the modification yet. I was informed that their employee was mistaken when he told me my 1st payment was in april. I was told that my loan wont have a 30 day cushion like other modifies or refi's. So I get the docs in the mail and sure enough, my 1st payment is due Feb 1, even though its now the second week in march. After eight months of paper work I find myself scrambling to stay in my house again. I thought I was being smart by paying off another bill with the money but I guess not. I didnt know you could sign retro active real estate docs.
They did the same thing to me, my loan was posted on ahmsi3.com, but when I got the docs to sign there is a balloon payment at the end. This is how they are using the bail-out money. They get paid now from Uncle Sam, and they will get us later.
My advice would to send a 4th trial payment in by using money gram it posts same day
Before you call someone a [censor] you should listen to what they say. I got talked into doing a refi with a loan company that was promising me payments close to what i was paying and using my equity to vacation or add on to my house. Seems funny that the first tries to refinance into a good loan always failed but Option One was always there in the final hours to give me a loan at inflated rates. Then the crash, Option One goes under, AHMSI emerges to service their loans. They are rude, and most times their english is so bad that you cannot get across to them the problem you are experiencing. I finally wrote a letter and after 5 months they agreed to review my loan, to make a long story short my loan was modified, but the first papers they sent me to approve were far different from the papers in the end, first letter stated my loan would be paid in full in 30 years, after I made 3 trial payments I still didnt have a signed agreement, they finally contacted me and wanted me to sign docs backdated 60 days, which would make me almost 90 days late on a newly modified loan, They must have got caught doing this as all of a sudden my loan was current and the two payments they claimed were late were put to the rear of my loan interest free, along with an apology from ahmsi. I finally received mod docs but they were different from the first ones, my final docs have me paying a balloon payment after 27 yrs. So if you do the math they are still going to get the inflated value of my home eventually, its just now for the present time they have lowered my interest but they are getting federal money every month to keep me from walking away from this property. The brokers that made all these hollow promises are walking scott free looking for the next scam to lure you into
