• Report: #292066

Complaint Review: World Savings

  • Submitted: Sun, December 16, 2007
  • Updated: Thu, January 20, 2011

  • Reported By:Escondido California
World Savings
www.worldsavings.com San Antoinio, Texas U.S.A.

World Savings Fraud, Deceptive loan modification and foreclosure practices San Antonio Texas

*Author of original report: Wachovia Mortgage...oh where oh where are you now?

*Author of original report: World Savings aka Wachovia manipulative practices, outrageous fees and interest

*Author of original report: World Savings aka Wachovia manipulative practices, outrageous fees and interest

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I have tried to obtain a loan modification from World Savings for six months. They informed me in August 2007 that I had been approved but they needed to speak to my employer. They told me they would contact me regarding the status of my request. When I did not receive anything from them, I called to check the status of my modification and was told that my employer never returned their call (which is totally untrue) so therefore I did not receive the modification. I explained to them that my employer had called and left a message so they agreed to allow me to resubmit documents and reapply. They told me that this would take at least thirty days.

On September 17, 2007 I resubmitted the requested documents. On or around September 25, 2007 I received a Notice of Default in which they informed me not to pay my mortgage payment because they were demanding full payment of arrears and any thing less than the total amount demanded would not be applied as a payment and would not stop the foreclosure proceedings. I contacted World by fax (10/15/07, 11/2/07, 11/20/07, 11/30/07, 12/5/07 and phone several times asking for the status of my modification but was ignored. On December 4, 2007 I made an online complaint and received a generic response that due to the nature of my loan I would need to call the 800 number listed in the emaill. I called the number and explained that I had been contacting World Savings regarding my modification and could not get anyone to acknowledge my request. I explained that the Notice of Default had been filed on 9/12/07 and that the three (3) month deadline was near so time was of the essence. I was then told that in order to finish processing the modification agreement I would need to submit updated bank statements. I submitted the required documents the next day, 12/6/07.

On December 10, 2007, two days before the deadline, I received a call from Hilary in the loan modification department informing me that they were denying my request. When I ask her what basis she said "because we do not believe that you have the ability to pay the mortgage". I explained to her that I had deposited over $10K from one month of sales to my checking account from a new business that I had just started. She then told me that I had not adhered to the requirements of my first modification in August. I told her I never got a modification in which she responded "well that's our decision". This person is the same person who originally informed me in August that my modification had been denied because I had been given one in November 2006. When I told her this was not true she faxed over confidential documents from another lender's modification. I called her and told her that she obviously had me confused with someone in which she politely apologized and asked me to shred the documents. I decided to keep them in case I needed proof of her incompetence.

I am afraid that I have no alternatives now because of World Savings manipulative practices of foreclosure. They are well aware that I have equity in my home and as much as this should help me in keeping my home, I fear that it is more of an incentive for them to take it.

If anyone has any suggestions as to how I can stop them from foreclosing, please advise ASAP.

Shari
Escondido, California
U.S.A.

This report was posted on Ripoff Report on 12/16/2007 07:37 PM and is a permanent record located here: http://www.ripoffreport.com/r/World-Savings/San-Antoinio-Texas-78265/World-Savings-Fraud-Deceptive-loan-modification-and-foreclosure-practices-San-Antonio-Tex-292066. 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.

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#1 Author of original report

Wachovia Mortgage...oh where oh where are you now?

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

Wachovia took my home on June 3, 2008despite(I sent them an appraisal showing that I had over $250K in equity) my attempt to modifymy loan with themthat I had been coerced into agreeing to almost two years earlier. Amazingly they sold my home in less than one month with absolutely no advertising whatsoever. Pretty good for this economy. They really should start a division devoted solely to selling Real Estate. Well, that is since they no longer have a mortgage division.

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#2 Author of original report

World Savings aka Wachovia manipulative practices, outrageous fees and interest

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

In addition, I had also fallen behind on my two car payments to Wachovia. I explained my situation and was able to make two payments in November for each vehicle (over $2,600). In the midst of paying them I received a letter from an attorney claiming that "my refusal to communicate with Wachovia could lead to litigation". I had just made payments so I called Amelia and asked her what the letter was about. She told me their communication must have crossed in the mail and not to worry. I then made payments on both vehicles the next week only to find out that a lawsuit had been filed since making the first payments. Amelia had even contacted me AFTER the lawsuit was filed to schedule the next payment.

After learning of the lawsuit I called Amelia (4 times) and asked her to inform me what was going on. On the fifth call she answered and said "oh, yea I saw that. I'll ask my supervisor if that can be put on hold and call you back." Never heard from her. However another Wachovia employee called this past Friday, December 14, 2007 and left me a message saying they were waiting to hear from me.

I called back today, December 16, 2007 and left a message informing her of my communication with Amelia. There seems to be a lot of deceptive situations with this company. I have read numerous complaints on the web about how customer service personnel are lying to cover their deceptions. They somehow only have documentation of when they call you but do not have any record of you calling them. Hmmmmm.
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#3 Author of original report

World Savings aka Wachovia manipulative practices, outrageous fees and interest

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

In addition, I had also fallen behind on my two car payments to Wachovia. I explained my situation and was able to make two payments in November for each vehicle (over $2,600). In the midst of paying them I received a letter from an attorney claiming that "my refusal to communicate with Wachovia could lead to litigation". I had just made payments so I called Amelia and asked her what the letter was about. She told me their communication must have crossed in the mail and not to worry. I then made payments on both vehicles the next week only to find out that a lawsuit had been filed since making the first payments. Amelia had even contacted me AFTER the lawsuit was filed to schedule the next payment.

After learning of the lawsuit I called Amelia (4 times) and asked her to inform me what was going on. On the fifth call she answered and said "oh, yea I saw that. I'll ask my supervisor if that can be put on hold and call you back." Never heard from her. However another Wachovia employee called this past Friday, December 14, 2007 and left me a message saying they were waiting to hear from me.

I called back today, December 16, 2007 and left a message informing her of my communication with Amelia. There seems to be a lot of deceptive situations with this company. I have read numerous complaints on the web about how customer service personnel are lying to cover their deceptions. They somehow only have documentation of when they call you but do not have any record of you calling them. Hmmmmm.
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