• Report: #378946

Complaint Review: Deutsche Bank, Argent Mortgage, Washington Mutual, Citi Residential, Ameriquest

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Tue, October 07, 2008
  • Updated: Sun, December 21, 2008

  • Reported By:westfield center Ohio
Deutsche Bank, Argent Mortgage, Washington Mutual, Citi Residential, Ameriquest
60 Wall Street NEW YORK, New York U.S.A.

Deutche Bank, Argent Mortgage, Washington Mutual, Citi Residential, Ameriquest They falsified documents, lied and cheated me into taking a loan and then refinanced and are now forclosing on the property, leaving us with no where to go New York New York

*Consumer Suggestion: Pamcat stop your foreclosure

*Consumer Comment: I know someone that can help

*Consumer Comment: Pamcat: Read this

*Consumer Suggestion: Try Contacting FHA (Federal Housing Administration)

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

After renting for years, I started looking for a home to buy in 2005 for myself and my children. At that time I was told (by many brokers and banks) that my credit score was too low and that they could not provide financing unless I had a 30% down payment, which I did not have.

I then began to look for an alternative way to purchase a home so that I could stop renting. I decided that perhaps a land contract would be possible. While looking for a land contract, I drove past an open house and stopped in. The realtor was Ellie Taylor ,who said that she had a business relationship with a broker that could most certainly help me. This broker's name was Monica Moore. I contacted Monica and she said...yes, yes. She could help me.

However, after she checked my credit, I ended up with the same story that I had gotten from everyone else. I needed more money down or, as Monica put it I needed to use "creative financing". She told me that if I could find a home for sale I should ask the sellers if they would be willing to make the 30% down payment for me. That sounded very strange and I wasn't sure if I could find someone willing to do that.

After looking, and being sent away numerous times, Ellie Taylor told me about a house in Westfield Center and indicated that the owners might be willing to do this. As it turned out, they were. I contacted Monica and told her that I was ready and that the owners were willing to help me by carrying a 2nd mortgage on the home. I thought that was great. After Monica processed all the paperwork she called and told me what my closing costs were. I can't remember an exact amount but it was more than I had.

I began searching frantically for someone that would finance the house for less closing costs. I found a man that said yes, he would help. I do not remember his name but he was from First Banc Mortgage in Cleveland, Ohio. He said the deal was that I would (on paper) buy my home for $157,250.00 and then has a 2nd "private" mortgage with the owners for $27,500. I would then pay the owners $200.00 a month for one year and if I could pay them $17,500 by the end of the first year then they would "forgive" the other $10,000. I was PROMISED, by First Banc Mortgage, that they would refinance me in one year for the total value of the home and that I would (then) be able to pay off the 2nd mortgage to the original owners.

This sounded good but the house was actually more than I thought I could afford. It was important to make certain that my payments stayed at about $1200.00 a month and did not go up. Even at that amount it would be hard for me to make the payment. No problem, they said! The only thing that was holding up the loan was that it was to be "paperless" and I didn't have a CPA do my taxes yearly. Again they said; Not a problem! First Banc Mortgage said they would provide one for me.

I was really confused about all this so they tried to explain the procedure to me. First Banc Mortgage's CPA would write a letter stating that I made a certain amount of money so that I would be able to get financed. Because the interest rate on the loan was so high; I needed to be able to report more income than I actually made. I told them that I didn't think that was a good idea and never heard another word about it until later when I found out that they actually had a WRITTEN statement from a CPA stating that I claimed taxes on an amount of money that I NEVER made! They sent me paperwork by the ton and an assured me that my mortgage payment would be $1200 or less per month. I ended up signing a mortgage for a house with a payment of $1539.00 and later found out that I still had to come up with the $200.00 a month for the 2nd mortgage owed to the original owners. WHAT?? Too late, I was now the proud new owner of 6728 Arlington Drive, Westfield Center, Ohio 44251.

After a few months, I ended up moving my mother into my home. She was recovering from kidney cancer and I thought that it would be best if she moved in with me rather than living alone. She had mounting medical bills from two bouts of cancer and no health insurance.

As the end of the first year became closer, I started to worry about the huge sum of money which I owed to the sellers. I could not afford to continue to give them $200.00 a month and could not pay them the outstanding $27,500 unless I could get refinanced. I had no choice but to call First Banc Mortgage and tell them that I was ready to refinance in order to pay off the Sellers. After numerous phone calls, and emails over a period of weeks, I heard nothing from them and started to panic. I telephoned Monica Moore and told her that I needed to refinance, with an extra $17,500 in the loan amount, so that I could pay off the Sellers. She told me that I would need a total appraisal on the house of $215,000 in order to refinance for $193,000. I explained that I only needed $173,000. Monica said Better to have cash in the bank. Monica made it happen.

An Appraiser called and asked what I needed the house appraised at. I said Aren't you coming out to look at it? Nope, he said, we'll come out later; do you need the appraisal for $215,000? That is the amount Monica said I needed; she also said that I needed to hurry. With the deal Monica put together, I paid off the Sellers and was free of the 2nd mortgage. Now my mortgage was with WAMU However, my house payment went from $1,539.00 a month to $2050.00 a month. This was more per month than when I was paying two mortgages. How did that happen?

My mom was still living with me and was recovering and starting to help with bills. I thought perhaps I could make the payment. That was until she became ill again, this time with terminal cancer.

Eventually my mother had to stop working and I had to reduce my hours to part-time, and eventually stop working altogether while I sat with my mother and my sister and I watched her die. It all happened so fast. It seems like one minute we were scraping by and making the house payment, then my income halved, my mother's income stopped and at some point I had to stop making house payments or stop feeding my children.

Then I started getting letters from Citi Residential but on the paperwork filed with the court it indicated the mortgage holder was Duetche Bank c/o Argent Mortgage. It got to the point that I did not know who actually held the mortgage on my house

I don't even remember when, the dreaded foreclosure papers came. I immediately contacted an attorney and asked for his help. No problem he said; give me a $500 retainer and I'll take care of this. He went on to say With all of the foreclosures happening, trust me; the bank does not want your house. He said the bank would ask me for about $2,000 down and trust me...I'm 99% sure that they will drop your interest to a normal rate. At that time my mortgage interest rate was 12.75%. Bruce told me we'll get the house reappraised from someone honest and you should be able to start fresh.

I've been sitting here, in my home, since March 2007 grieving my mother, trying to rebuild my business, taking care of three children and wondering where the next dollar is going to come from. Attroney said he went to mediation meetings with the bank, prepared income verification for me and maintained an on-going correspondence with the bank. I have called him for months/weeks, and he does not return my phone calls, I have been waiting for weeks to learn what happened after his mediation meeting with the bank.

Then on August 29th, Citi Residential said that my lawyer never turned in any of the paperwork, nor did he return calls to the bank lawyer and the bank has now filed foreclosure on my home. This foreclosure has apparently been filed by Deutche Bank whose attorney is a Mr. McNellie in Cleveland.

I feel as though I have been raped by the bank. How can I tell my children, after losing their Grandmother, that we are also going to lose our home? I have no family except my children, what are we going to do. I want to keep my house, I want to pay for my house but I need help and Citi Residential is not going to help. They either want me to pay an interest rate of 12.75% or they are going to foreclose on my home.

Please help me. I don't know where to go, I don't know who to turn to and I don't know what to do. I can't lose my home; I just can't. My children and I have suffered enough. We literally have no where to go. There is no longer a Mom to run home to. There is no one to help us. I can't just walk away from all of this.

Pamcat
westfield center, Ohio
U.S.A.

Click here to read other Rip Off Reports on citifinancial

This report was posted on Ripoff Report on 10/07/2008 09:04 AM and is a permanent record located here: http://www.ripoffreport.com/r/Deutsche-Bank-Argent-Mortgage-Washington-Mutual-Citi-Residential-Ameriquest/NEW-YORK-New-York-10005/Deutche-Bank-Argent-Mortgage-Washington-Mutual-Citi-Residential-Ameriquest-They-falsif-378946. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Deutsche Bank, Argent Mortgage, Washington Mutual, Citi Residential, Ameriquest

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Pamcat stop your foreclosure

AUTHOR: Brad, Preditor Hunter - (U.S.A.)

Pamcat
If your house is not sold yet by the sheriff you can stop your foreclosure. I have been doing so myself and my story is even worse than yours, unfortunately. I said screw the lawyers as they as I have found repeatedly are only in for their own interest and stuffed pockets. They won't help you. Instead if you have access to the internet do your own research and represent yourself as I have been doing. It is calle pro-se when you represent yourself and your state court system will have state guidelins and rules for you to go by that you can find on line. You need to file a chapter 13 bankruptcy to stop your foreclosure and sheriff sale. 13 is intended to bring your mortgage company to court and accept a workable mortgage payment for a specified number of years. Do your on line research into chapter 13 bankruptcy. The plan you submit to the federal court is a plan you can live with and not the intended foreclosure plan the mortgage company wants to be able to take your home. Understand too that I just got notice that citi residential just sold out to Chase. For us that makes about seven mortgage companies for our purported mortgage going all the way back to Argent and Ameriquest. I am preparing a federal district court law suit against all the involved mortgage companies on our loan while dealing with the Indiana state court of appeals to overturn our local trial court decision for foreclosure and refiling for chapter 13 to keep our home out of the sheriff's sale again. I have been doing this battle now going on two years without an attorney. You can do it yourself if you devote the time to go on line and do nothing but research every related subject to this mess. Also try to find a state legal aid lawyer who does not have time to actually represent you but is willing to coach you in your process as you are doing the work. I wish you the best of luck and God's favor in your fight. I am there with you.

BL
Respond to this report!
What's this?

#2 Consumer Comment

I know someone that can help

AUTHOR: Loanhelper - (U.S.A.)

I agree that you need to contact your loss mitigation department for help, in most cases when you deal with your lender directly it is very hard to get in touch with the right people and it takes a lot of patience if you dont know what you are doing. If you have tried working with them directly and have had no success, you need to get legal help, from a Real Estate Attorney who knows what they are doing. You have to remember any information that you provide to your lender can and will be held against you, so you need to know all the guidelines and what not to get a successful modification done. If you need help with your case please contact me and I can get you to the right people. Good luck!

LoanHelper
Respond to this report!
What's this?

#3 Consumer Comment

Pamcat: Read this

AUTHOR: Nat - (U.S.A.)

Pamcat,

Contact your current mortgage company. Ask for the Loss Mitigation Dept, or the Loan Modification Dept. Keep good notes on your conversations and keep track of all the names. These companies are now required to help you. Please read your loan documents before you sign them. If your payment isn't what you thought, DO NOT SIGN ANYTHING. Just because you're at the closing table does not mean you are committed to the loan. Plus you should have a 3 day rescission period after closing. Not everyone has your best interest at heart. I think they knew you don't read your loan docs and took that to the bank. This is wrong, but that's also what caused this country to go down the tubes. Loan docs to focus on: The Note, The Truth in Lending statement, and the Good Faith Estimate. Focus on your repayment terms. Ohio is now one of the diciest states to lend in because of the large amount of appraisal fraud. Clearly, that happene in your case.
Good luck, I don't want to hear that your family is out in the cold Ohio winter.
Respond to this report!
What's this?

#4 Consumer Suggestion

Try Contacting FHA (Federal Housing Administration)

AUTHOR: Noir - (U.S.A.)

It may or may not help to contact FHA but their new Hope for Homeowners program just inaugurated on October 1, 2008, may help you.

You will have verify income and qualify with a certain debt to income ratio, things it sounds like you were not required to do for your current mortgage, but the program was created to offer alternatives to foreclosure for people who, like you, were placed in unrealistic loans.

It wouldn't hurt to call them.

Their phone number is 1-800-CALL-FHA (225-5342)
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory