American Home Mortgage Servicing
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Category: Business & Finances
Contact Information
Louisville, Kentucky, United States
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American Home Mortgage Servicing Reviews
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Adrian
March 31, 2009
Mortgage Payments
This company put my payments in suspense then placed my home in foreclosure.
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Steve
March 27, 2009
This is Sad.
Aug. 06 we had high hopes. $ 350, 000 at $64, 000 down and another $7, 000 to close escrow. I trusted my lender; I'm no financial genius. I asked for fixed at $1700 a month. He said could'nt be done. But he did say an option ARM would work by defering the interest. A three year option ARM, stated income, $4800 high yield premium. Yes I now learned this was totally bad loaning practices by my lender. I did'nt even know what defering meant just to show you an example of my knowledge.
Anyway, I'm sure you all know how this will work. After the first year, I tried listing the home but A.H.S.I. said I have a pre pay penalty for 2 years. I tried to remove it but they said no.
I waited another year and tried to refinance. But they said no. No equity left. You need to bring money to the table.
Nov. 08 I called asking for a loan modify. I honestly thought maybe I could negotiate a new loan to where I could at least rent out the home until things got better since I work construction. They said fax over your docs...I did... I waited... Dec. 1st I called. and they said I never sent anything.
Mid Dec. I got coached into a loan modification company.
They told me to stop making payments but I disagreed.
January went by while I talked back and forth with Licensed modify company and by Febuary. I thought by now something should be in the works.
Feb. 24 YES! I got a call from A.H.S.I. Some woman obviously from Inda demanding payment. I said I'm in the middle of a loan modify. I would like to check the status on my loan. She said, "As soon as you make a payment I'll connect you." I did. She hung up on me. I callled and called getting nothing but auto responses. It's amazing how when they want payment your home phone rings followed by your cell phone two seconds later.
Now March 11 I got a letter from A.H.S.I. telling me to wait 30 days for loan answer. My loan modify company wont return calls.
According to everyones articles nothing positive will ever come out of this, as to A.H.S.I. will manipulate modifying loans to their favor making matters worse. I can easily forsee that they're buying time just to collect as many payments as they can and then calculate late fees and interest to add to the new principal.
Can anyone months ahead of me give the future out come. I know it 's all negative. But I'd like to know what I'm in for.
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Isabella
March 27, 2009
Fraud and cheating
I have no real idea where to start. Today my home was sold at auction without any notice to me.
Last fall, we were behind in our mortgage payment, and in order to save the home, we entered into a forbearance agreement and paid double our mortgage payment for a few months. In January our mortgage was sold to another company, American Home Mortgage Servicing. We received a letter from them telling us our first payment was due in March. We contacted both the new and old mortgage companies to confirm this information. The old company confirmed that we no longer owed them anything, and AHMSI told us our first payment was not due until March.
My husband called back on March 2 and was told our first payment to them was actually due March 21. He called them on the 20th, Friday, to make a payment, and was told the forbearance needed to be reworked with a different interest rate, and they would call us back with the new information and send us the papers to sign. They never did. At no time were we told that our house was in jeopardy, and we asked specifically about that. We received no letters or anything telling us this was going to happen.
Our home is actually currently on the market, and we had already accepted an offer. Our loan amount is under $400K. The offer we accepted is $735K. The house 2 doors down from us, same floor plan, but less upgrades and less property, just sold last month for $725K after less than 2 months on the market. Our house was sold at auction today for $575K and we were not warned AT ALL. We were shocked to come home today and find out from our realtor that our house has been sold out from under us.
We immediately called AHMSI, and they refuse to reverse this or work out anything-- and of course not: they have also let us know they get to keep the amount over our loan amount. They are using the confusion during the time of the loan changeover for their own gain, of between $150K and $200K!! My gosh, if we could even have THAT amount we could get a new home-- but as it is, we have lost everything. We have three children, two are very small (my girls are ages 15, 4, and 2) and we are now suddenly going to be homeless.
This mortgage company is completely unethical. What can we do? Do we have no recourse??
We listed this house, which is the house I grew up in, specifically so this would not happen. We were trying to sell it so we could move to a less expensive area. Now... I don't know what we will do. We have no down payment for a home now.
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Brian
March 25, 2009
Loan Modification and Escrow Shortage
We entered into a loan modification agreement with AHMSI in December 2008. They added $14, 000+ to the principal of our loan, which included $7, 184.02 for payment of deliquent taxes and insurance. We made our first first payment in February 2009 in accordance with the amount stated on Schedule "A" of the loan modification. We then received an escrow analysis statement in March 2009 stating that our escrow had a shortage of over $5, 000+ and that $400+ would be added to our mortage payment to reduce the escrow shortage. AHMSI states that the shortage results from them paying the deliquent taxes. I countered that the deliquent taxes were added to the principal of my loan and amortized over thirty (30) years and nothing in the loan modification documents indicates that the deliquent taxes would be paid back in 12 months as they are now trying do. Has this happened to anyone else?
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Sam
March 16, 2009
Fraud and scam
In February, 2009, we was notified by Citi Residential Lending, that our mortgage loan was being transferred to American Home Mortgage Servicing Inc. (AHMSI).
We have experienced difficulties in making payments to this company, we have tried reaching them by phone, or sending Money Gram, Western Union, and attempts to pay on our loan at their internet site was fruitless.
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Barney
March 12, 2009
Terrible experience
AHMSI is a practitioner of very deceptive and manipulative practices. I was a customer of Option One Mortgage prior to AMHSI buying them. I entered into a 12 month loan repayment contract.
AMHSI raised my ARM 4 months into this deal without notice! After completing these 12 monthly payments and then making an additional on time payments was notified that due to that previous ARM change I was now 2 months behind on my mortgage? I was then put into foreclosure for this!
I attempted to enter into a loan modification with AHMSI and was repeatedly told that they either were missing needed documents or they were backlogged with assigning a negotiator to my account. This of course took 6 months to resolve. All along they were refusing to accept any monthly payment? My account was now accruing late fees, lawyer fees due to the foreclosure proceedings! This all started in August 2008.
In order for me to enter into this agreement they needed a down payment of $14, 000(including foreclosure lawyer fees) was half of my delinquency. I was turned down for this program anyway. The reason given was that my lender would not include these past due fees. I was notified of this decision on January 8, 2009. Here is the ironic twist.
On February 12, 2009 I received a Fed Ex package from AHMSI. It was a loan modification proposal!!! Didn't they just tell me NO? Were they not asking for $14, 000 upfront to avoid foreclosure? All of a sudden they have an offer that requires ZERO money down, a new loan at 5% and a monthly payment of under $1000? I was paying $1700 previously! They tried to push and manipulate me into getting any money out of me that was possible.
I was told by their customer service team that I should either sell my house or get a second job to resolve my situation! AHMSI also wrote off half of alleged past due balance on my account. This incident shows how this type of company tries to deceive and manipulate people into deals that are not in their best interest.
Thank goodness I had documentation of every payment I made. The lesson here is, do not give into these companies! I bought my home 7 years ago. I now have mortgage payment that is less than my original one!
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Mel
March 11, 2009
Terrible company
Notified by mail of AHMSI taking over mortgage and in the letter there was no mention of there being a service charge for paying 'ontime online'! I would have sent a check ahead of time if I was made aware of this!! After reading these 'ripoff reports' no way was I sending a check in the mail!! I have never been late and have never been charged by any of my online billing companies a so called 'ripoff service charge'!! Sometimes when you pay on the phone there may be a charge, but they tell you 'pay online and there is no charge'. No, not AHMSI! They want to 'rip you off' for just a little bit more that you might need for gas to get to work and then they can foreclose because you didn't have enough money for your transportation and wouldn't that make them happy!! Furthermore, it is so frustrating because you cannot email them at all under the 'contact us'! They only provide you with a phone number and a mailing address!! What reputable company in 2009 does not have an email to contact them??? Expect to spend at least 10-15 minutes if you call them and then you will get NOWHERE anyway! Just 'suck it up' and pay the leeches their 'online worthless service charge'. At least citi bank rewarded you for paying on time (up to 4 days) with no online charge!! I don't believe this was in my original contract!! I do not like to 'hate', but I do HATE AHMSI!
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Niel
March 11, 2009
Awful company
Our October 1st mortgage payment was returned to our credit union citing that they were unable to locate the account. Now, they applied my September payment correctly and I had changed nothing on the payee set up as no changes were indicated on the monthly statement I received. So, I fumble through the website which has the same PO Box I sent the payment to on their 'Payment by Mail' information. I verify the account # which again nothing had changed from when they posted the payment in September.
On my online statement they have a PO Box in Jacksonville, FL (payment processing center is indicated in the address). So, I try again and have it sent there. They return it again. All anyone can tell me is that I have to write a letter and send it to the 'Customer Resolutions' department in Orange County, CA (949-790-8505).
I did also send an email to them through their 'secure message center' online. At first the rep in India tried to tell me nothing was received. When I told him I had in my hand a copy of the email message sent from THEIR website and a copy of the confirmation email they sent for my inquiry, he quickly changed his tune to saying he could see the message but there was no response. Well, duh, that's what I already told him.
We never had problems with American Home Mortgage and payment application until it appears Option One has something to do with them.
Also, they denied our loan modification request because we don't make enough money. This company is a hack.
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Mark
March 3, 2009
Fraud and cheating
Our October 1st mortgage payment was returned to our credit union citing that they were unable to locate the account. Now, they applied my September payment correctly and I had changed nothing on the payee set up as no changes were indicated on the monthly statement I received. So, I fumble through the website which has the same PO Box I sent the payment to on their 'Payment by Mail' information. I verify the account # which again nothing had changed from when they posted the payment in September.
On my online statement they have a PO Box in Jacksonville, FL (payment processing center is indicated in the address). So, I try again and have it sent there. They return it again. All anyone can tell me is that I have to write a letter and send it to the 'Customer Resolutions' department in Orange County, CA (949-790-8505).
I did also send an email to them through their 'secure message center' online. At first the rep in India tried to tell me nothing was received. When I told him I had in my hand a copy of the email message sent from THEIR website and a copy of the confirmation email they sent for my inquiry, he quickly changed his tune to saying he could see the message but there was no response. Well, duh, that's what I already told him.
We never had problems with American Home Mortgage and payment application until it appears Option One has something to do with them.
Also, they denied our loan modification request because we don't make enough money. This company is a hack.
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Reeves
February 2, 2009
Fraudulent activity
In 2008, American Home mortgage Servicing, Inc. contacted us to say they would be handling our mortgage payments for Option One.
1) In 2008, AHMSI Retention Dept contacted us by mail informing us that we needed to modify our loan so that it did not adjust up in 2009.
2) We filled out all of the paperwork and faxed it to them. A negotiator contacted us by telephone and told us he could lower our interest rate, lower our monthly principle by $30 a month, take ten years off our loan, making it a fixed 30-year loan. But, he could not reduce our mortgage amount per month. We really needed him to reduce the amount per month instead of taking ten years off the end of the loan, but he said he couldn't do anything else for us and we could sell if we wanted to. We knew we couldn't sell in the present market and would have to foreclose. We felt we had no other choice and were forced to accept.
3) The negotiator sent us the paperwork to look over and we noticed that the principle had gone up $6000. Still, my husband thought we had no other choice. So, AHMSI legally did what the stimulus act allowed them to do for us by reducing our interest and principle per month, but they made $6000 right in the beginning. That's not counting the $500 that we had to wire the negotiator to receive the paperwork.
4) After we signed and sent back the paperwork, our next month mortgage statement stated that we owed an extra $236 late charges. I called the negotiator to ask 'why' when he told us we had no late charges. He said he was not allowed to tell us about the extra fees for the remodification until all was finalized. He said we could make payments. We paid it in full, afraid that if we didn't, we would have more surprise fees.
5) We were hoping that maybe our mortgage would be back to the regular rate the next month, but NO. The next statement was that of January 2009 stating that our Escrow had gone up and we had to make up for $40 on top of the new larger amount due to higher escrow fees. So, now we know that they didn't do us any favors. They made more than $6000 off of us through the stimulus act when we are in danger of losing our home, and we are now having to pay more per month than ever before. I want to know how they say they took ten years off of our home loan when the appraised home value was decreased by almost half in two years because of the market. I just want to warn everyone out there.
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