OPTION ONE MORTGAGE COMPANY is owned by H & R Block. They are predatory Lenders meaning that they go after those who really need to refinance their mortgages now. They make promises then they do not deliver. We refinanced our home and specificatly requested a FIXED interest rate. We were told that we had just that.
A closer was sent to our home and the papers were signed. The closer assured us that we had a foxed rate. A few months later our payments started to go up. I credited it to late fees which I took to be normal. Then the late fees increase and the payments kept going up.
I even had some payments that were slightly not right like someone recorded them as paid and then backed them out. My escrow taxes increased. The company put insurance on our home. We already had a policy for this.
They are trying to take my home they called me over 20 times for my june payment that was make before the end of June and as of the 10th they will start calling again. They will call up to 8 times a day 7 days a week. I have received calls as late as 9pm. They get away with this becasue they have operators that man the phones overseas. Different time zones. So they are able to make your life a living nightmare.
They sent us into foreclosure, file court fees, late fees, lawyer fees, judgement fees, etc. I was able to avoidthis by demanding a loan modification. I thought this was a permanent fixed rate. Later I found out it was only good for 6 months. Its up now and my payments have alreay gone from 1200.00 to 1486. with late fees.
OPTION ONE IS no longer allowed to make loans in Ohio becasue of their practices. Maybe someone can use this info to their advantage. I know personally becasue one of their workers let that slip when I asked if they would considered refinancing my home.
I could go on and on about these people have done to me.
I spoke to someone yesterday and was told that through the predatory lender laws that passed through congress. I can get a lawyer that specializes in this type of mortgage and possibly have my entire loan THROWN OUT because it was illegal and they knew when they created it. Yes it is true!
DO NOT FILE BANKRUPTCY until you consult with a lawyer about presatory lenders bill.
1. They will look at your case for free ( DO NOT GIVE ANYONE MONEY UP FRONT)
2. If they take the case it could take up to 2 years to settle (You do not make any payments during this time)
3. If the court finds in your favor the loan will get tossed out. You owned your home free and clear
4. Or you can have the lawyer neogoiate a refinance at a super low interest rate that is FIXED.
5. How are you going to pay the lawyer (Tell him if you refinance the laon with the mortgage company ask for a $5,000.00 nusance fee and sign that over to them)
6. If you win your case make payment to the lawyer instead of the mortgage company.
I am very angry and stressed out and now I am fighting back with a vengenance. I am not a lawyer so talk to one before doing anything.