AHMSI - American Home Mortgage Services LET'S FIGHT TOGETHER Irving Texas

Hello Adam of Orlando, FL. My name is Bruce, Salem, Oregon. My older brother, Richard lives on Miscindy, Place in Orlando for some 40 yrs. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Adam,

I am having problems myself with AHMSI. My original loan was with Option One & they sold my loan in mid 2008 to AHMSI. Up until now I haven't had any problems with them other than the occasional pushy rep when you are late. Up until 7/09 I never made my payments late than the 10th of the month. I have a fear of banks(completely founded) so I choose to use Moneygram Express to make my payments. In 7/09 my husband was laid off, we live in New Orleans and unfortunately for people in construction, the work is here but the money isn't and no one is getting paid. Normally I get a commission on the 10th of every month that pays my mortgage well of course when my husband was out of work that is when unexpected & expensive things happen & the money that would have paid the mortgage got used so we fell behind. Anyone who lives paycheck to paycheck knows that when you fall behind it almost takes an act of god to climb back out of that hole. Well, after 2 months I was able to get back to making payments normally & paid any extra that I could. The 1st intent to foreclose letter went out 10/09 and I guess since I was making payments & extra they let it go but in December my homeowners insurance & property taxes which are escrowed came due so I had a defecit in my escrow account & all extra money went there. So December 21, 2009 I get another intent to foreclose letter that says that unless the account is brought current within the 35 day deadline they give you the loan "MAY" be reviewed for foreclosure. Well, I kept making my payments, atempted there modification programs which I still haven't gotten an answer about & kept them informed on my financial situation. In mid January 2010 I filed my taxes & was getting enough back to bring my loan completely current so I called AHMSI & told them that I intended to bring the loan current on 2/5/10(my anticipated refund date), this was on 1/26 the day after my return was accepted by the IRS. I made an arrangement for payment of the full balance to bring the account current on 2/5 by Moneygram Express. The lady I spoke to said that she was noting the account and putting it on a repayment plan to halt the foreclosure & unless the payment wasn't made on 2/5 as promised all collection efforts (even phone calls) would cease. I said great & we recapped the conversation, she asked if there was anything else, I said no and disconnected. I called again on 1/28 and confirmed my previous arrangement and date since I got the confirmed date from the IRS and again was told all was well unless I flaked out(in so many words) and again we recapped, she asked if I needed anything else, I declined & hung up. I didn't hear from them again so assumed all was right with the world until Friday 2/5 when the sky fell. I called the morning of 2/5 to confirm the amount & to inform them that I was to be making my Moneygram payment this morning & I just wanted to verify & let them know. The guy I talked to was like great, he told me the amount then as an afterthought he was like as of 2/4 your account was placed in active foreclosure. I was like WHAT?!? I explained my previous phone calls & we reviewed my account & he said okay I see the problem, your arrangement was entered as a note(like a to do list) and not as a repayment plan so when they decided to review your account they didn't consider that arrangement. Well, I stammered a second then asked him to read the notes to me. They said exactly what I said & heard, that since I made the arrangement & was "supposedly" put on a repayment plan I would avoid foreclosure. So, we figured out the problem how do I fix it? I asked if I could make my payment as scheduled & he said yes so I was like okay and hung up. I got my stuff ready for the payment & then called back to ask someone about foreclosure & the steps I needed to take to fix it. Amazingly enough the girl I talked to was less than helpful. She did tell me that I could not in fact make my payment & any payments received from me would be returned since I was in foreclosure & the payment would not represent the total amount due since they didn't know what the fees were yet. They had to request a foreclosure quote. The account was placed the day before and in my opinion in error, what fees could possibly be incurred in one day but I said okay & we reviewed the notes on my account yet again. She didn't see the error. She rudely said that nothing could be done until the figures came in & she couldn't give me any more information until that happened. I asked if I could talk to someone in foreclosure & she said they didn't take calls, I asked for the attorney info so maybe I could find out more from him, couldn't get that either. I said thanks & hung up. After calming myself I called back yet again and asked for & was sent to someone on the Retension team. I got Chad(Ithink)and I went over my story yet again. He saw the problem but admitted that nothing could be done until the fee info came in & he actually ordered what I found out Monday 2/8 was an estimated fee schedule not an actual one. He told me that when they got those figures they would be able to talk to a supervisor about maybe getting some of those fees removed since was only placed the day before & because I was able at that time to bring the account current & had already made arrangements to do so prior to the change from intent to actual active foreclosure. He asked me to call back on Monday 2/8 & they should have those figures then. Okay, I waited and first thing Monday I called and talked to Sarah and was told my estimated amount due which was $5,012.15 on Friday was now over $11,000.00. I freaked out and Sarah attempted to calm me by saying that it was only an estimated amount & wouldn't be that much. It made me feel a little better until I said I couldn't come up with anything close to that since it was almost a miracle I was able to come up with the $5K to get it current now. She asked what I had & I said enough to pay the original $5K now and on 2/10 I would have enough for another monthly payment. She said she would order the actual amount which wouldn't be available until Thursday 2/11 and when that came in they would try to get me set up on some type of repayment plan to pay the fees later or little by little but I had to wait until Thursday to find out. She was nice so I said okay I would call back on 2/11. I couldn't wait any longer so I called today & was rewarded with one of the rudest & most condescending men I have ever encountered & since I am a woman who works in construction that is saying something. He said I was a day early & that I should have waited until I was told to call on 2/11 & that the info wasn't available yet. I said okay I was just checking to make sure & I explained the situation to him too and made him go over the notes too. He wasn't moved & when I asked so speak to someone in Retension he said he was and I needed to wait and call back when I was supposed to. I said ok and hung up. What gets me is that according to the info listed on their website on how to avoid foreclosure I did everything I was supposed to and still my account was sent into active foreclosure, I also don't get how they are supposed to help homeowners keep their homes by offering affordable solutions but when it comes to actually helping the homeowner they make it harder. I was and still am able to bring my account current but I am not allowed to make a payment. Tomorrow will make 1 week since the account was placed in foreclosure and that is week worth of fees & headaches that could have & should have been avoided. Today I got the letter from the attorney & it doesn't tell me anything but that I need to contact their office in writing with 30 days if I need to dispute the debt. I don't dispute the loan amount but I do dispute the fact that it was placed in his office in the first place. In response to their request for written verification of the debt I am sending a letter to the attorney as well as AHMSI accepting the debt but disputing fees that occur because of the foreclosure that will never take place. What fees could possibly be incurred since there will be no sale or preparation fees to sell the property, no court costs or legal filing fees since it won't get that far and since I've only gotten one letter dated 2/8 from the attorney they can't really bill too much, right? I am at a loss as to how else to handle this. I am terrified that it will just be pushed back again & again until I get evicted by the sheriff's office & my house is sold in August 2010. I will try the things you list but do you have any other advise to give me? Please help if you can.

Thanks,

Carolyn of New Orleans, LA

Carolyn,

I'm so sorry to hear of the problems you are facing.  The most important thing to do is to "always" put any and all requests "in writing" to AHMSI & to retain copies of such.  Unfortunately, it's almost impossible to speak to just one representative with an issue at hand.  While one may be more than seemingly empathetic and helpful to you one day and document your conversation, the next time you call and speak to a different rep., he or she only reads the documented notes and truly does not know the details of the previous rep's. conversation with you.  This is a problem and why it's important to send documented letters/correspondences to AHMSI's Customer Service Dept. & always take notes of the date/time/reps. name and/or ID #, as well as the conversation.

It's important to "always" try to make the min. payment due each and every month on your mortgage.  Unfortunately sometimes this is simply not possible and contacting them "immediately", preferably prior to the due date, is imperitive!  The longer the wait, the more difficult it will be to halt AHMSI from placing a "red flag" on your account and literally making your life miserable!  Again, speaking to different reps. only adds to the problem(s).  Back everything up in writing!  They are required, by law, a minimal amount of days to respond back to you in writing.  In the event you choose legal proceedings, you will have copies of each document.  I cannot stess enough the importance of this.

Once the economy improves, we will be refinancing to get away from AHMSI.  They've put us through hell and back again, to say the least!  The most important things i've learned are.... "Never send a payment in the mail!!"... They lost not 1 but 2 (so they claim!).... "Never place trust in what they tell you over the phone!".... "Always document "every single conversation" on paper and in writing!!".... Get out of AHMSI ASAP!!!!!!!!!!!

One final note, Carolyn.....  Unfortunately, when you've an Escrow Acct. included within your mortgage payment, it's still considered the borrower's responsibility to make sure there are sufficient funds available in the escrow to pay taxes/insurance premium(s) on due date(s).  Basically, it's considered a courtesy call for a lender to provide this service, unless it becomes mandatory for the borrower.  If the escrow balance is low to begin with, you are unable to make 1 or more mortgage payments & taxes and/or insurance are due, there will then be a shortage reflection in your escrow, as most companies will pay these premiums even though there's insufficient funds.  HOWEVER, the amounts they paid you owe back, in addition to any and all penalty fees imposed from your shortage.  This means you'll need to add all the escrow shortgage amt's. plus penalties, if any, along with your normal mortgage payment amounts you've missed to include those additional late/penalty fees. (ugh!!!!)  If all of these amounts added "together" are not satisfied/pd. in full and you make a payment, even if you're $1.00 short, you're considered "BEHIND" & the vicious cycle continues again ea. & every month w/MORE fees assessed, until ultimately you're in foreclosure!

Bottom line?  If you're able, "always" pay your mortgage before final due date.... if you're late but able to pay prior to next month's payment make sure you're paying the correct amount!!!!  Check escrow balance to make sure there's no shortage amount due.  Never take for granted you only owe for 1 or 2 missed mortgage payments plus late fees, make the payment & think you're all set.  Always place a call to acquire the total balance due, to include all late/penalty fees/shortages.  "REMEMBER TO FOLLOW THIS UP IN WRITING!!!"  Again... Be 100% sure you're paying the right amount to bring your account up-to-date!  If you don't do this, simply take for granted you're making a correct payment amount, you may be placing your home and your family in the "danger zone".  If all else fails, Carolyn, i'd advise you seek legal representation.  There's nothing more I can provide other than what I already have & hope everything works out for you.  God bless!

Dear Fellow AHMSI Victims:

I have read each and every complaint submitted and have to agree with 99% of them. Permit me to offer you how we deal with AHMSI.  

Although never "late," phone calls start on the 4th of each month if AHMSI did not receive their payment on the 3rd.of each month.  We get an average of 4-5 calls a day until the payment has been received by AHMSI.  Our response: we keep track of the calls (date and time) and SIMPLY HANG UP. We do not speak with their collectors, ever.  

AHMSI is a collection agency and thus has to comply with all Federal and State laws applicable to collection agencies.  4-6 phone calls a day is deemed excessive, especially if you are not overdue with your monthly payment (over 30 days).  By keeping track of the calls you will have the evidence you need, should you finally find an attorney, or wish to file yourself a Federal complaint.  Federal Law provides for fines (payable to you) if AHMSI is violating Fedearl Law as it relates to collection agency activities. Documentation is everything. 

Here is how we make our monthly payment to AHMSI.  We send all of our payments via Fedex Standard Overnite or Fedex 2nd. Day, depending on when we mail the payment.  This gives us a POD (Proof of Delivery by date and time).  Furthermore, we always pay in 2 or 3 checks. First check is memoed: Principal & interest; 2nd check is memoed: Escrowand if the payment is made after the 16th., we include a 3rd.check for the late fee.  All in the same envelope, mailed at the same time. AHMSI hates us for paying in this fashion, but we have an exact record of how our money is to be applied.  This prohibits AHMSI from playing games with our money and applying it the way they see fit.

One final suggestion:  We all have problems getting connected with someone in the USA.  Here is how we get connected.  We call the main number and when Mexico or India answers we ask to be connected with "Investors Relations."  They keep asking for your loan number.  "We do not have one.  We need to speak with Investors Relations." They either connect us with the USA or we hang up and re-dial. We never deal with the people abroad. They can't help, so why wast your time?

DOCUMENT EVEYTHING!!!!!!

GOOD LUCK!

EJVH

                

Dear Fellow AHMSI Victims:

I have read each and every complaint submitted and have to agree with 99% of them. Permit me to offer you how we deal with AHMSI.  

Although never "late," phone calls start on the 4th of each month if AHMSI did not receive their payment on the 3rd.of each month.  We get an average of 4-5 calls a day until the payment has been received by AHMSI.  Our response: we keep track of the calls (date and time) and SIMPLY HANG UP. We do not speak with their collectors, ever.  

AHMSI is a collection agency and thus has to comply with all Federal and State laws applicable to collection agencies.  4-6 phone calls a day is deemed excessive, especially if you are not overdue with your monthly payment (over 30 days).  By keeping track of the calls you will have the evidence you need, should you finally find an attorney, or wish to file yourself a Federal complaint.  Federal Law provides for fines (payable to you) if AHMSI is violating Federal Law as it relates to collection agency activities. Again, documentation is everything. 

Here is how we make our monthly payment to AHMSI.  We send all of our payments via Fedex Standard Overnite or Fedex 2nd. Day, depending on when we mail the payment.  This gives us a POD (Proof of Delivery by date and time).  Furthermore, we always pay in 2 or 3 checks. First check is memoed: Principal & interest; 2nd check is memoed: "Escrow" and if the payment is made after the 16th., we include a 3rd. check for the "late fee."  All in the same envelope, mailed at the same time. AHMSI hates us for paying in this fashion, but we have an exact record of how our money is to be applied.  This prohibits AHMSI from playing games with our money and applying it the way they see fit.

One final suggestion:  We all have problems getting connected with someone in the USA.  Here is how we get connected.  We call the main number and when Mexico or India answers we ask to be connected with "Investors Relations."  They keep asking for your loan number.  "We do not have one.  We need to speak with Investors Relations." They either connect us with the USA or we hang up and re-dial. We never deal with the people abroad. They can't help, so why waste your time?

DOCUMENT EVEYTHING!!!!!!

GOOD LUCK!

EJVH

                

Fellow Victims of American Home Mortgage:

Most of the comments posted about American Home Mortgage are right on point.  However, we also must be a bit more honest.  Unlike any other debt, mortgage payments must be made on the date due.  There are however several due dates which come into play with your mortgage.  1^st Date:  1^st  - 3^rd of the month.  Your official due date is between these dates – each month.  Your 2^nd due date is the 15^th or 16^th of each month, after which you owe a late fee and your 3^rd due date is the last business day of the month.  Payments received thereafter are deemed to have been “late” or “delinquent” and may be reported to the credit agencies.  There is one good thing with American Home Mortgage.  They rarely report late or delinquent payments as their accounting of payments received is so poor, they would be risking legal action from the consumer(s) they are reporting. 

Customer Service by American Home Mortgage.  Like so many other companies, they have out-sourced the collection calls to foreign companies, like the TaTa Corporation in India.  These telephone collectors make about 1/3 of what an American telephone collector earns.  They are usually very polite, but are not sufficiently trained in “American” English, so communicating with them can be extremely difficult.  Personally, I demand to speak to an American representative.  I refuse to speak to any of the foreign collectors.  There is a reason.  I am not opposed to foreigners, I am myself one, but I know they can’t help me with the issues I usually wish to address with American Home Mortgage.  Therefore, why waste my time?  As of late, it has become more difficult to get a US Customer Service Representative on the phone.  India, as well as Mexico, does not wish to transfer the calls.  I therefore always ask for INVESTOR RELATIONS when I call.  That Department does not have a Representative outside the USA.  If I am asked if I have a loan number, I simply tell the foreign Representative: “No!” I either get transferred to the USA, or I hang up and dial again.  This may take several calls, but I usually – finally – get to a US Representative.  If more people were to demand to speak to an American Representative, perhaps, companies, like American Home Mortgage, would stop out-souring their collection calls.  Furthermore, I will never give any personal banking info via phone to a foreign Representative (making a payment over the phone).  The risk that the bank info or credit card info could fall into unauthorized hands is just too great. 

Documentation.  When dealing  with American Home Mortgage document every call, every contact.  Date/time and the name of the Customer Service Representative (they all have an Employee ID number – get it!) with whom you are dealing.  If and when it ever comes to a legal action – such as a foreclosure, this information may be useful.  But remember – in real estate – everything should be in writing.  Verbal agreements, legally, mean nothing.  This is especially important with changes in the amount due.  I always write a confirming Memo and fax it back to American Home Mortgage, with a copy for my files.  I also save the copy of the fax machine confirmation that my Memo was received…The purpose of this Memorandum is to confirm……Be sure to put your loan number on the Memo.  Be sure to denote date and time you faxed the Memo.  Documentation is the key answer to all disputes with American Home Mortgage.  Their filing system is so poor, if the dispute involves proof of anything agreed to with American Home Mortgage and you have documentation – you will always win.  Chances are, they will never find the letter you faxed, or simply deny that you ever faxed the letter.  Your documentation can proof otherwise.

Phone Calls.  American Home Mortgage is a Collection Agency.  They represent themselves as such when they call you, or you call them.  As such, they are required to comply with the Federal Fair Debt Credit Collection Practices Act.  It is Federal Law.  The Law prohibits harassing phone calls.  A debt collector may contact you via phone, until and unless you have requested, in writing, not to be called.  If they call you thereafter, they may be breaking Federal Law and be subject to fines.  If you do not wish to receive phone calls from American Home Mortgage, write them a registered letter, informing them to stop calling you.  Keep a copy.  The next issue is the number of calls.  Personally, I find 5-6 phone calls a day harassing.  I am not a lawyer, but someone needs to find out if 5-6 calls a day is deemed to be harassing.  If so, another violation of Federal Law.  Finally, there is the issue about when American Home Mortgage calls you and the purpose of the call.  Unless you have paid your monthly payment by the 3^rd day of the month, theoretically, they have the right to call you and remind you to pay, unless of course you have issued them a “no-call” letter.  The issue becomes how many reminder phone calls constitute harassment.  If you had told the Representative you would be mailing the check next week, is continuing to call you 4-5 times a day harassment, is once gain a question to be addressed by a Federal Court.  Regardless, I am certain there will come the day when a fellow victim of American Home Mortgage will have had enough and will have found an attorney who will proceed with an action against this collection agency.  Mind you, if found guilty, the Court could force American Home Mortgage to pay the fines outlined in the Fair Debt Credit Collection Practices Act for violating the Law.  These fines are payable to the victim – you!  For my part, I’d just be happy if the calls were to stop – and I have a “no-call” letter on file with American Home Mortgage.

Finally, there is the issue of re-financing.  By now it should be of no surprise, American Home Mortgage specializes in sub-prime mortgage collections.  Almost every mortgage now owned or serviced by American Home Mortgage is a sub-prime loan.  Each victim of American Home Mortgage has his/her own reason(s) why they had entered into a sub prime mortgage agreement.  Let us however also be honest.  There are people who have mortgages with American Home Mortgage who have no business owning a home, or at least not one with a sub-prime mortgage.  Securing a mortgage is not a right.  It is a privilege for which you work, often times, very hard.  Having secured a mortgage, based strictly on hopes and dreams (I did not say lies) was a major mistake on the part of the home owner.  It was also a mistake that the banks issued these people a mortgage.  Everyone is at fault.  My recommendation to anyone who secured a mortgage, based strictly on hopes and dreams, should return to earth and let the obvious take place.  Foreclosure.  It is no longer a black mark on your character if you have had a bankruptcy or foreclosure.  What is however a mark on your character is how you handled the bankruptcy or foreclosure.  Destroying the home and/or damaging the property out of spite is dishonest and a sign of poor character.  Handle the situation with the dignity with which you wish to be treated by others.  You tried to work the system and lost.  There are no free luncheons and trying to own a home with nothing, or very little down is almost a guarantee for disaster.  Most people who purchased their home with 25-33% equity are not facing foreclosure.  To those who face foreclosure at no fault of their own I recommend taking advantage of the various refinancing programs being offered.  Stay away from these refin. brokers who wish to help you save your home from foreclosure.  Most are crooks.  They will take your money, sometimes even your home and you will have lost everything.  Deal with your primary lender or their representative (unfortunately, this means American Home Mortgage).  First of all, remember, no lender is required to offer you a refin. plan or program.  It is strictly voluntarily.  There are no “Obama Mortgages” or “Obama Dollars.”  Contact your lender before you go into default (if honest – you know if you will be able to make the next mortgage payment or not) and ask if they have a home retention program.  Have them mail you the application and demand a disclosure of all the costs involved with the refin. You may find out that you may qualify for refin., but that the cost and terms are too steep.  Most communities have these days non-profit organizations which will help home owners to retain their homes.  Have one of these organizations review the refin. offer.  However, whatever you do, document everything, especially any payment modifications offered by the lender.  I have heard of too many cases were the lender’s representative gave the debtor (you) erroneous information and the debtor lost his home in foreclosure, even though he/she thought they were following the directions of the lender/creditor.  Their clerk had made a mistake and you lost your home.  If you had documented the clerk’s orders or directives, or had obtained something in writing from the creditor, you may have had the chance to fight the foreclosure.  If it is not in writing, it does not exist.  That is the motto you must work by with real estate.  Also, do not let time run out on you.  Usually, you have very little time to get your mortgage refin. before it goes into foreclosure, usually 30-45 days max. before foreclosure proceedings begin.  If you are working with American Home Mortgage on a refin. plan, do not wait for their Representative to call you.  They are overwhelmed with refin. applications and it is extremely easy to have your case get lost in the shuffle.  You call the Representative.  You get them the documentation they need.  You make sure they received the documentation you submitted.  If you are working on a refin. plan with American Home Mortgage, mail everything with “Return Receipt.”  Otherwise, your documents were never received, have gotten lost, or they can’t find them, you name the excuse.  With a return receipt you have proof you submitted the required documents.  Also keep copies of everything you submit to American Home Mortgage.  If they “lost” your documents you can immediately send them a new set.  Do not let time run away from you.  Remember, the refin. people at American Home Mortgage are not the same people who are trying to foreclose on you.  One hand does not know what the other is doing.  In closing, never, ever assume anything with American Home Mortgage.  By now you should know the education and experience level of the American Home Mortgage Customer Service Representatives. IF AT ALL POSSIBLE, REFINANCE YOUR HOME WITH A CONVENTIONAL MORTGAGE!!!!

HWv.H

Buffalo, NY

                     

 

You could not be more wrong in some of your statements.  We thoroughly read & had our real estate attorney review all mortgage documents prior to signing/closing.  There were no misleading/underlying/unethical statements/details in the loan documents.  Also, we were not at all required a down payment nor equity, due to the fact that our credit was "excellent".  We've had no problems whatsoever paying our mortgage on time and not once have gone even one day beyond it's due date for no other reason than we've been able and are responsible enough to do so. 

We never asked nor wanted to be placed with AHMSI, and the only reason we are with them now is because they bought out our prior mortgage company.  AHMSI is seeking to do the same with many more mortgage companies across the nation.  They have the money and the power to do so and are continually expanding.  Did you know they recently bought another huge expansion location in Texas?  Yes, they did!

AHMSI is known as being a mortgage servicing company but every mortgage company out there "is servicing" mortgages!  They simply do not openly state these facts as AHMSI does.  A mortgage IS a debt, and it doesn't matter what name a mortgage company has or how well they're know... they're STILL SERVICING & COLLECTING the mortgage DEBT amount each & every month! 

Let's get real.  Even some banks and credit unions will make collection calls several times a day, even if a payment is 1 day late beyond it's due date!  They do not even count the 15 day grace period.  So, trust me, EVEN SOME BANKS and CREDIT UNIONS are no different than AHMSI!  Bottom line?  Every mortgage holder needs to make a point of being responsible & paying on time.  A mortage is "TOP PRIORITY!!!!".  If you're unable to pay on the due date then pay within the grace period time & don't complain about 5 or more calls a day.  That's the way it is.  You cannot & won't change this, no matter what or who you're dealing with. 

Our mortgage is almost paid off so we will not be refinancing, but if anyone's looking to do so, then my advice is to refinance with your local bank or credit union. While you cannot avoid several times a day, they're the best choices for any mortgage holder!

In response to "Incorrect Statements."  Re-reading my comments, I do not see anywhere that I had suggested that original loan documents were unethical (besides, "unethical" has no meaning in contracts.  No one forces you to enter into a contract which you deem to be unethical). As to misleading, that is a matter of interpretation.  To people who do not deal with contract language on a regular basis, some legal language maybe misleading.  Regardless, I do not see anywhere in my comments anything addressing the language contained in real estate contracts. 

As to down payments. It was my intent to suggest that it is very unwise to purchase real estate without a reasonable down payment.  Today's high forclosure rate supports my reasoning.  For anyone to purchase a property and is financing the purchase almost 100% is in my eyes irresponsible.  The question should not be: "with how little downpayment can I get away with," but rather: "how much equity can I purchase in order to protect my ownership position?"  In the past, greedy mortgage brokers and bankers permitted people to purchase real estate who had no business being in the real estate market or purchasing homes with hyper-inflated values which their income did not support.  Some speculators made out.  They knew what they were doing.  Basically, flipping the property at a profit before the ink had dried on their loan papers.  Others obtained their loans thru fraud - many of the no-docs purchasers come to mind. The mortgage broker and lender did not care to verify the income of the purchaser and accepted, for a few dollars more, any story the buyer had to offer.  What happens with the properties of these people, I could care less.  Then there were those who simply did not understand the true cost of owning a property when entering into a sub-prime loan, possibly with interest only payments, for the first few years.  They were outright lied to by the mortgage broker and possibly also the lender.  They were told: yeah, what you got is a lousy loan, but don't worry, in a few months (or years) we will just refinance the house with a firm fixed, 20 or 30 yrs. conventional mortgage."  These brokers and lenders knew fully well that the borrower will never qualify for anything but a sub-prime loan, but their commission was more important. 

Now to American Home Mortgage.  Whatever you wish to call the baby, it is a collection agency which "services" real estate loans (mortgages).  They may outright own the loan, or are servicing the loan on behalf of the lender.  As to not wanting to be serviced by American Home Mortgage, I am sorry to tell you, that is not your call.  When reading the original mortgage papers, there is a clause which clearly states: the lender can unilaterally assign, sell or transfer this instrument (the mortgage loan) to anyone he wishes without the borrowers concurrence.  In other words, all the lender has to do is advise you that he has transfered the loan to someone else (like American Home Mortgage) and you, as borrower are to send your monthly payments from now on to American Home Mortgage.  The lender does not need the borrowers concurrence or agreement with this transfer, sale or assignment of the mortgage loan.  On the other hand, the borrower is required to continue to meet all the obligations he initially agreed to, when entering into the loan agreement.  Your loan, over its life, can be sold countless times. The law (and the contract ) only requires the lender to notify you of this transfer of the loan. That is all.

As to being "on time" with your mortgage payments.  I do not dispute anything which you are saying, but I would lke you to understand the very reasons why sme people have "problems" with understanding the seriosness of being timely with their mortgage payments.  Often times these are the very people who from the get-go should have never been qualified as viable borrowers.  A person with minimal or no equity in his home feels no responsibilty towards the home. They are glorified tenants and when they can no longer pay, they move, ie: foreclosure.  Having however nothing or little invested in the home, they feel no responsibility or sense of loss when they end up in foreclosure.  It is the same with many of the govt. supported housing projects.  Why do the "projects" look the way they do?  Because people have nothing invested in their homes.  Everything is either paid for, or almost paid for, so why care?  Being responsible and making sure that the mortgage payment is made on time, every time, is a sense only a homeowner has who has something to lose. Those who have little or nothing to lose could care less.

As to collection phone calls.  I am sorry I have a different experience. We have several credit cards and store cards.  In over two yrs. we have only been called once and it was due to an oversight on my part. I overlooked a bill on the internet and forgot to pay the bill.  Other than that only American Home Mortgage calls 4-5 times a day, during the grace period.  But that is not the issue.  The issue is that American Home Mortgage collectors do not read or share each others account notes.  If I tell a collector on the 4th or 5th day of the month that I will be paying the mortage within the grace period by the 165t, I do not expect to continue to receive 4-5 calls a day, asking for the payment.  If at the end of the grace period I still have not paid the mortgage, by all means, call again.  Amercan Home Mortgage keeps on calling, regardless of what you have told their collector about the payment.  That is harrasment.  American Home Mortgage can call themselves whatever they want to, but they fall under the Federal Laws of the Fair Credit Collection Practices Act and as such have to comply with that Law.  The Law is very specific as to phone contact with a debtor.  Therefore, it is important that anyone who feels that they are getting excessive calls to keep a detailed record of the calls.  With this record he, or an atty., can determine if American Home Mortgage is breaking the Law and maybe liable.  Without detailed documentation it is just hearsay and a formal complaint will accomplish nothing.  In fact, no atty., or Federal Agency will even look at the complaint.  American Home Mortgage can only be beat with detailed documentation. To everyone benefit, thankfully, American Home Mortgage has no problems in issuing incorrect statements, foreclosure notifications and written collection attempts. Harold/Buffalo     

I hope this clarifies my prior statement/comment.

                 

Dear Adam:

After 3 months of countless phone calls to American Home Mortgage my wife finally got a payment history print-out showing that she had made all payments on time and that the payments had been properly applied (escrow and principal).  The accompanying letter signed by some "Research Specialist" however stated the opposite.  We have never received any written communication from American Home Mortgage which did not contain some error.  As dealing with these people is impossible we just check monthly that they have received our payment and that it was properly applied.  We however have been unable to find a new lender as our mortgage is so small that most banks do not wish to deal with us and we are not interested in borrowing more money, in excess of the balance of the mortgage.  But that is our problem. Since your last posting have you had any response to your complaint letters from anyone? Based on your resonse we can determine with whom filing a complaint makes the most sense. We also would like file some complaints but only with organizations which actually follow up.  We have had an inadequate response or interest from our local news as there are locally not enough people complaining about American Home Mortgage.  Perhaps a national news program may be the answer as the complaints come from across the entire nation.  There is often talk about a class action suit.  Aside from the basis for a class action suit and finding a lawfirm interested in handling the suit, there must be a sufficient number of plaintiffs in order to make the suit worthwhile for the attorneys.  

Adam, I hope by now you have gotten your first monthly statement from American Home Mortgage. Be careful however with any verbal arrangements you make with American Home Mortgage.  In real estate, verbal means nothing, besides it is our experience with American Home Mortgage that you can call three times and speak to three different Customer Service Reps. and get three different answers. Whatever you do, pay at least each months the amount stated on the last monthly statement you received, regardless of which collection agency was handling your mortgage account.  But again, whatever you decide to do, document every communication you have with American Home Mortgage. Even a phone call, by writing them a letter in which you state: "Confirming our phone call of (insert date) during which you advised me (insert topic of discussion)."  Be sure to also get the Customer Service Reps. name and employee ID number.  Should American Home Mortgage try anything unethical, at least you have documented proof of your communiations with them. Best of luck! Harold from BUF, NY                            

Dear Adam:

 Just when we thought that all is well with American Home Mortgage and our account we received today 2 evelopes in the mail, both from American Home Mortgage, both addressed to my wife.  One letter was a reminder, stating that they had sent us a refinancing package over 15 days ago and that we had not responded.  Reality is, about a months ago, American Home Mortgage had mailed us - unsolicited - a refinancing application package.  A week later we received a letter that we did not qualify for refinancing as our house was "condemned" or otherwise "unihabitable." A week following that letter we received another denial letter, stating our loan was "too new" and did therefore not qualify for refinancing.  Note: our loan maybe new to American Home Mortgage, but our loan is in its 11th. year. We have been sold four times already.  Anyway, we just let it be.  We thought it made no sense to argue with American Home Mortgage, except that my wife took a 30 point hit on her FICA score because American Home Morgage denied to refinance our home - unsolicited.  So much for not reporting to the credit bureaus.  We now have to argue with the credit bureaus, trying to get her FICA score corrected.  She has worked hard to have a 780 score and certainly does not want American Home Mortgage to ruin her credit.  However, the 2nd. letter we received today from American Home Mortgage tops their hit list of stupid things they have done to us.  We received the complete payment histories and persl. data of the following loans: 0010198059 (Wilkesboro, NC) 0014632160 (Houston, TX) 0014716365 (Hempstead, TX) and 0015096845 (Mesquite, TX).  In addition to the confidential data they sent to us, each package also included a lengthy letter addressing whatever problem these home owners have with American Home Mortgage.  Are these people insane?  I will mail each American Home Mortgage client their own package and hope that they will raise hell with American Home Mortgage about how they handle persl. & confidential matters.  Adam, the reason I am telling you this, perhaps your monthly statements are being mailed, except to the wrong American Home Mortgage client.  This is no longer funny.  Someone needs to stop these people before they hurt anymore home owners whose accounts were sold to them.  Should anyone reading this post recognize their own loan number, be patient, I will be re-mailing the incorrectly received loan problem resolution packages within a day.  Harold/Buffalo, NY            

Carolyn - I seriously thought I was reading my own story when I was reading yours....but I had a few more things happen along the way.

I was behind on my payments and made a payment arrangement with AHMSI - the gal kept me on the phone for nearly an hour and reiterated the payment arrangement about 3 times.  I was to pay $1000 that day (she insisted the only way I could pay it was through Money Gram or Western Union, which I was uncomfortable with, but had not choice) and then I was to make payments of nearly 1 and 1/2 times my mortgage to catch it up.  I was willing and prepared to do that.  This was in March.  Well, Money Gram would not accept the code number she gave me and when I called back - the second person I spoke with gave me the same code number, which again did not work.  I then tried Western Union, which would not accept a payment for a bill for more than $850, so I could not use them.  Exasperated, I did an online bank transfer to them from my bank account.  I learned a couple of weeks later that the payment was first accepted, and then sent back to my bank with the reason as "no such account number".  I checked and rechecked the account number and it was right.  Meanwhile, I thought I had sent them what they asked for and checked in the days following my payment to make sure it was accepted, which it was - AT FIRST.  I then set out to make the payments that they outlined for me.  I sent March's payment, which was accepted and cashed, then I sent April's payment, which was accepted and cashed and then I sent May's payment and right about the time I was about to send June's payment, I got May's check back in the mail, indicating that they had sent my account for foreclosure - and they could not accept my payment.  I called immediately and asked what was going on and they would not speak to me unless I was willing to pay them $5K - that was all they would discuss - "payment in full" - otherwise I had to call their attorney.  I got the number from them because I hadn't even got my foreclosure paperwork yet and called the attorney the next day.  There is no receptionist - you have to leave a message, so I attempted to contact AHMSI again the following day and in one day - just 24 short hours - the amount I needed to catch the account up was $10,800!!!  It had more than doubled in 24 hours!! (according to them, due to the legal fees they tack on!) I once again tried to speak to them about the payment arrangement I had made, but everyone I spoke with insisted that there was no such payment arrangement in the system.  They all also told me to contact the attorney.  About 4 days after my original call to the attorney's office, I got a voice mail from a woman there saying that they could not talk to me about the matter - I had to call AHMSI!!!!  How frustrating!
In the mean time, I have filed a response with the prothonetary's office, outlining what I have done to avoid the foreclosure and explaining that I made payments according to my arrangement, WHICH THEY ACCEPTED!  I have also filed for a modification of my loan, which they claim puts the foreclosure "on hold".  Meanwhile, they will not accept any money from me, so the account keeps getting more and more past due.  I have put my house on the market and just hope to get it sold before the foreclosure comes off "hold" (whatever that means!).  I can make my payments, but I can't give them $10,800 up front!

I think the most maddening thing of all is that once the account went to foreclosure, they stopped calling me, but now that it's on hold, they have started the calling again (even though I am in modification consideration).  They had NEVER had my work telephone number because I changed jobs since getting this loan and they bought it from the original lender.  Since sending them my modification packet, they now have my work phone number and have called me at work to harass me.  Even though there is no doubt where they got the new phone number, the caller pretends not to know that I am in modification consideration and asks me what I plan to do about the $10K I owe them.

I am ready and willing to pay for my home and they won't let me.  This is the "hope for your home" the government and the mortgage companies are talking about?  And with all the REAL foreclosures on people who really can not pay a dime, you would think they would be more willing to work with someone who can actually make payments!  What are they going to do with another home?  Mortgage companies are in the money business - NOT the real estate business - they should be willing to work with me, but that's not how the illiterate 50 cents an hour folks they have calling from other countries are trained to work.  UN REAL!

I have been in foreclosure with AHMSI for 2 years and 8 months. I have sent many, many packages and many, many faxes. I have talked to many different people and been assigned a Loss Mitigator five times.

The told me that I could modify my loan and would have to take whatever they thought I should pay with no document to sign. The did not follow the HAMP program as promised, and they sent me a piece of paper about 6 inches wide and 4 inches long after I sent in my application that indicated I had to pay PMI on top of my payment. They padded my income and changed the figures so that my payment became as high as it was before the foreclosure and loan modification. I did not send in my payment, they denied me; and I sued them in federal court on July 8, 2010.

I have a wonderful experienced and compassionate attorney who helped me sue them. Now, they want to settle. We shall see. I am not going to be eager to settle. If you need help, you can contact me, and I will give you the name of my attorney. Reasonable prices and excellent service.  Avenkat, South Carolina

I would so love to get out from under AHMSI's thumb.  I honestly believe that a loanshark with an office in a back alley would be more reputable than this sham of a 'mortgage servicing' corporation!

Dear AvenKat.  Like your self and Adam and others having problems with this company, my husband and I too have been going threw this since 2002 and forclosers out the ying yang and it's still going on that it has gave me health problems now. Could you please let me know who your attorney is? we really need need to put a stop to this, not sure how much more we can take, we almost got into a divorce over it as well and we been married 32 years.  The best gift I would ever ask for is to get away from this company but they distroyed our credit so know its impossible. Our home holds so many memories and the birth of our children in it that if we loose it, it would kill me. I deeply thank you for any Info you may have.  I'm affraid to give my email right here for them to see as for I already get harrasing phone calls from them everyday and don't need it in my email as well.  Thank you my friend and god bless you and everyone else going threw it as well.