Report: #1042907

Complaint Review: Colonial Savings Mortgage F.A.

  • Submitted: Fri, April 12, 2013
  • Updated: Fri, April 12, 2013
  • Reported By: Linnea in Wisconsin — Sun Prairie Wisconsin
  • Colonial Savings Mortgage F.A.
    2600 West Freeway
    Fort Worth, Texas
    United States of America

Colonial Savings Mortgage F.A. Refused mortgage payments Fort Worth, Texas

*Consumer Comment: You are not alone!

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My mortgage had been sold to Colonial Savings. I had never missed a payment, nor was I ever late making a payment until October of 2009. I became two months behind on my mortgage after losing my job and my spouse's income as well. I sent a payment for one month, only to have my check returned to me by Colonial Savings.

I called and spoke with a representative for Colonial Savings, and it was explained to me that a payment would not be accepted unless it was for the past due amount, plus the payment due, plus late fees.

During the months that followed, I tried to apply for a loan modification, at their suggestion. I faxed the completed paperwork more than several times before I finally mailed it "Certified, Return Receipt Requested".

Each time I faxed the many pages of the modification paperwork I followed up with a phone call. Each time I was told they had not received it yet, and to call back the next day. Each time I called, I was told that either not all the paperwork came through, or, they never received it at all. So, I mailed it.

After I received the receipt as proof Colonial Savings received my loan modification application, I followed up with a phone call. I was told they did not have my paperwork. When I mentioned I held a receipt, proof that they did indeed receive the paperwork, the woman I spoke with told me she's have to look for it and call me back. When a few days had passed and I had not received a call, I called Colonial Savings. I was told that they did have my paperwork, but that I would not qualify for a modified mortgage loan because I was behind on my payments and was unemployed.

All of this was greatly stressful and left me feeling very helpless.  I feel Colonial Savings purposely placed me in a foreclosure position.  I did list my home for sale with a reputable realty company, however, the market in southern Wisconsin was down, and I was unable to sell before the house was taken by Colonial Savings.
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This report was posted on Ripoff Report on 04/12/2013 09:52 PM and is a permanent record located here: 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. READ: Foreign websites steal our content

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#1 Consumer Comment

You are not alone!

AUTHOR: Anna the Seeker of Truth - ()

I know someone who has identical circumstances with the same bank in Texas.  The people live in Pennsylvania.

Your loans are around the same period of time as well.

It would be great to have you both compare notes and band together to expose this financial institution for what it is doing to people and who else is involved with them.

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