The company used bait and switch. The loan was raised four points higher
than the contract stated. The home loan monthly bill went up 500 dollars
not including penalties and interest. The company completely lied. I lost
my home in forclosure. My credit is now in the poor catorgie. They did
want to reset the loan. I lose alll equioty in the house. They resold the house for a profit. This company is a total ripoff. They are based in Irvine, CA. They bait you to refinance. They only paid off a few bills.
Then they increased the points by four. They are a real bad company.
My friend told me it would be a good idea to contact the a news station hoping to expose a mortgage companies predatory ways, and to possibly get help saving our home. We are getting no where with our mortgage company. It breaks my heart to see so many American's going threw what I'm going threw, but my story is different.
Our mortgage payment was $859, with taxes and insurance included, and our payment went up, without warning, to $5, 200. because of an escrow shortage. The escrow shortage was not due to our usual taxes and insurance. We had an abatement at our house, and the county came in and knocked down some buildings on our property, that were unsafe for use. It cost us $22, 000. The county collects it in two installments, the same way property taxes get paid.
Here's our problem, we notified our mortgage company, when we got the loan that we would pay it, I went down on the very 1st day with a check for $12, 000, and tried to pay them. But they informed me that it had already been paid. Almost a year and a half go by, and we didn't here a word from our mortgage company. We called, and called, and they told us there were not such advances.
June 2008, I called again, and finally someone said that they see it, but for us not to worry, they would spread it out in 48 months, and our monthly payment would change only a few hundred dollars. In July 2008, I almost had a heart attack when I saw the statement said $5200. Right away I contacted the mortgage company, didn't get any where. Kept on trying and trying. I was told, 'I see the problem, but I don't have the authority to change it. Then we were in default.
You see, when we applied for the loan, they knew what our monthly income was. Not only that, they were suppose to start collecting it in 2007, payments spread out to over a time of 48 months. It would take us 3 months of our paychecks to equal one payment. Not only that, we wouldn't have any money to take care of any other bills.
We tried to get a loan modification, which we got letters from our mortgage company, saying we were qualified. Only to be denied, because of our home owners insurance...get this, all of a sudden our insurance company refused to cover our house, because our house is over 60 years old. But this mortgage company found someone who would cover us, but it would cost of $3000/month. We reapplied and still got denied. How can this be legal.
The original foreclosure date was March 3rd. We still have our home, Thanks to a law firm that tried to modification. for us but were told the same stuff, and got the run around. Now we got a new foreclosure date, in 10 days, the mortgage company accelerated it. I don't want to lose my home. If anybody knows anybody or anything that can help me, please contact me @ weiss. [protected]@yahoo.com.
I want to put out there, if you have a loan with Option One or A. H.S. M.I. a word of advice, GET OUT OF IT, and go with a company that is willing to work with you. THESE PEOPLE WONT!! What they did to me should be against the law. Now I have to file bankruptcy. I hope I can find a solution soon, and I pray for all the people in the US going through the same problems as I am. Hopefully there will be some relief soon.
We are looking into the possibility of a class action complaint against Option One Mortgage, American Home Service and H&R Block concerning subprime loans based upon unverified (or even inflated) stated income, and where the ratio of monthly loan service to monthly (actual) income is greater than 50% after the teaser rate expires. If your loan meets these criteria and you are interested, email me at [protected]@spillaneweingarten.com.
My dealings with Option One have always been negative.
I always felt like I was getting the run around. I had requested my 1098 form for 2008 and was told it was mailed out. I advised that I had sent them a letter about a month ago requesting the 1098 form with my new address. The rep stated that it was mailed out to my old address. Then he asked me if I had made a request with the new address, I advised him yes about a month ago. He then tells me the 1098 was mailed and I should be getting it at the old address that they had received my request on 3/21/09. If I don't get it by April 1, call back.
I don't think it is me! I hate dealing with idiots.
I have desperately been trying to get a Release of Lien for a Property I paid off over 4 months ago. I called and talked to someone from India, I think. I was on hold, transferred, and spoken to like I was ###ed or something for over and hour. I am used to this unfortunately from everytime I have called them in the past year or so. I was told by a mortgage broker what to do so I informed AHMSI what I needed.
I asked to have my release of lien sent to me. I was then informed that I had to send a fax with various pieces of info on it and my signature. I did this several times over the next month or two and still had not received anything. Not a call or any response by mail or email. I gave my former address and my new one as well as new phone #'s because I had moved recently. I had already given this to them on other occasions but they always ask to update my info like they have never heard of it before. Still nothing.
I then called a few more times. Same thing, another day. Hold, English please, transfer, hold, what did you say?, I already gave you that info many times, hold again, and on and on and on. Another hour later, nowhere, no info. no one knows anything. I am tired, frustrated and getting nowhere, AGAIN!!! I finally send the info by mail, forget faxing. Let's try the old fashion way. Over a month now and still nothing.
Another call to them. Guess what? They want me to update my info. It is the same as the last 3 times I called. Is that all they know how to do? Why would it be so difficult to get a Release of Lien on my property that is paid in full. They did send a letter the month after it was paid off stating that fact. When I talk to them they say it shows that it is paid off in full several months ago. So why won't they just sent the stupid paper to me? HEEEEELLLLPPPPP Please, someone, anyone, but be from the USA!!!
I have a mortgage with Option One. We couldn't make the payments, put the house up for sell. Had a contract that would pay the principal + a little extra. We put 81, 000 down, which we are loosing, but better than foreclosure. Option One won't return phone calls, won't negotiate, they would rather it go to foreclosure. The most rude, uncooperative company I have ever dealt with. Now I am loosing the sale. I guess I would have been better off to strip the house, and let it rot like everyone else in Florida is doing. They didn't mind calling the last day of every month when payments were being made though.
We are financing a townhouse with Option One. They were calling us and insisting and being rude at various times. it was not until the 6th or 7th telephone call that this individual realized that the property is a townhouse and insurance date is not a requirement. I called to the secretary of the president and requested this individual be disciplined. Instead I received a rather crude comment form this secretary in addition. I want to switch to another mortgage company and feel Option one should totally forgive any and all early penalties in my case. I am Thomas Crum. Property is 6222 Skyline Drive, Unit 4 Houston, Texas 77057. SS # [protected].
I get calls on the first of the month and I never had one late payment. They answer from India with "Option One Collections«. They are very unprofessional. I finally had enough and started recording their phone calls and told them never to call me again. Of course they called again and I recorded that also. Now I can get them in small claims court for $1000 or so. I also had a problem with a payment made through Quicken. My bank returned the payment because they did an unauthorized bank draft. I faxed the information to Option one that this was all their fault (Option One refused to give me an address to send this info) along with the letter from the bank. They of course said they did nothing wrong and marked my account so I cannot send electronic payments. Now I have to go to the bank and pay for a cashier check every month and send it to them.