I got a mortgage through my local credit union who bundled it with a mortgage company that was bought out by American Home Mortgage which went bankrupt and now runs my mortgage through American Home Mortgage Servicing. It has been a nightmare dealing with AHMS in the past few years, mostly in the past few months.
They were never able to correctly calculate my mortgage (including escrow) so it doubled over the course of several years even though my taxes only went up a little and I had a fixed rate mortgage. Then this January I suddenly got a huge check from them repaying me out of my overpayment into escrow and a notice that they were reducing my monthly payment by a third (which seemed more like where it should be). Then a week later I got notice that they were doubling my monthly payment because my escrow was empty.
Calling them to straighten this out was insane -- their calling system was a complete mess and when I did actually reach a person who was, in theory, able to do something about this they had a thick, nearly impossible to understand, Indian accent and hung up on me. I tried calling again with no luck.
So, I refinanced my mortgage with another bank. And just found out today, AHMS never paid my property taxes for 2008 and my first notice of any problem with this came today because my unpaid tax bill was going to the county and my home would, in theory, go into foreclosure (I just paid the taxes). My city tax office tried and tried to work out their nonpayment with them and they did send a partial check at some point with a promise to pay the rest, but of course, they never did.
This is utterly ridiculous!! This company should not be allowed to continue in business. I found them to be a complete nightmare from which there was no hope of fixing the situation because it was impossible to ever talk to anyone who could help me.
If someone asked my advice about having a mortgage with them or refinancing with another bank and getting rid of their America Home Mortgage Servicing mortgage, I would tell them - don't use American Home Mortgage Servicing! Get rid of your American Home Mortgage Servicing account!
I have never encountered a business that was run even a tenth as badly as American Home Mortgage Servicing. I can't believe what American Home Mortgage Servicing does is legal and I hope that someone brings a class action suit against American Home Mortage Servicing because they have been a nightmare to deal with.
Gilbertsville, New York