AHMSI is near the top of our personal list of mortgage servicers (the “mortgage” company that collects the payment) that routinely “loses” payments, “misapplies” property tax payments, and forecloses after collecting multiple payments under what homeowners thought was a forbearance or loan modification.
Finally, Texas Attorney General Greg Abbott’s office has caught on to these thieves.
Trying to resolve a problem mortgage? Is the bank breathing down your nneck or threatening foreclosure?
Read our testimonials. Ask for references. Then act!!!
Crooks like AHMSI roll over when hammered by negotiators and/or attorneys who know how to deal with predatory servicers.
If your mortgage company is AHMSI call us ASAP and find out what kind kind of success we’ve had with these yahoos.
– The Bank Slayer
Texas AG Charges Servicer With Violating Debt Collection Laws
Tuesday, August 31, 2010
Texas Attorney General Greg Abbott has charged Coppell, TX-based American Home Mortgage Servicing Inc., the nation’s largest independent subprime servicer, with allegedly “using illegal debt collection tactics and improperly misleading struggling homeowners.”
According to a statement released by his office, AHMS collections agents used “aggressive and unlawful tactics to collect payments from Texas homeowners who had difficulty meeting their payment obligations.” State investigators claim the defendant also failed to credit homeowners who properly submitted their payments on time.
The enforcement action charges AHMS with multiple violations of the Texas Debt Collection Act and the Texas Deceptive Trade Practices Act. The state is also seeking civil penalties of up to $20,000 per violation of the DTP.
Philippa Brown, a spokesperson for American Home Mortgage, said the company does not comment on pending litigation.
AHMSI is owned by the New York-based private equity firm WL Ross & Co., which did not return a phone call for comment by deadline today.
AHMSI returned my last two payments and triggered a foreclosure. My home goes up for sale on November 2. I’m due for a c-section December 1.
You situation is unfortunately not unique. AHMSI is terrible but they can be beaten into submission. In almost all likelihood, your loan has already been paid off and/or was bought for pennies on the dollar.
You have some options:
1. The first question is IF offered a sweet loan mod. Say 2-3% for the life of the loan (or maybe the first 5 years) would you be able to make payments on it? This is an important question. There is no need to fight to save your home if you have no ability to make payments.
2. IF YOU CAN make payments (and want to keep your home) them you should quit messing around with AHMSI and go directly after the man behind the current. In other words, sue the “investor”. Force the investor into a corner – don’t worry, AHMSI will follow. You will need to file in District or Federal Court.
3. IF YOU CANNOT make payments and/or don’t want the home then do one of the following:
a) Short Sale – This is prevent the foreclosure on your record. Plus you are living “for free” during the process.
b) Deed in Lieu – This will mar your credit worse then a short sale but as long as you have NO OTHER liens like HOA then this will hand the keys back to the lender in a shorter fashion then the Short Sale.
>>>> WARNING: AHMSI will almost certainly still try to stick you with the deficiency left even after a DIL. <<<<<
If we can be of more help please call us at 713-595-8200.
3.
they took my money and they are trying to keep m home after they dave a writtung agreetmen to stop my fore clouse.
We are happy to help you if we can. Please contact our office @ 713.595.8200.
I too have experienced the “hell” known as AHMSInc. If AHMSI has more than likely already sold my loan for pennies on the dollar, why can’t I secure a loan from another bank and pay off the original laon amount for pennies on the dollar? Like most, I’ve watched my loan balance balloon over the course of the loan and am now upside down. Foreclosures in my neighborhood have only compounded the problem bringing market values down even further. If someone else can purchase my home in a short sale, is their anything preventing a homeowner from paying off the debt below whats owed or originally borrowed?
MK,
It’s possible but very difficult as they would rather foreclose on you, sell you home for $0.70-$0.80 on the dollar and then sue you for all $1.00 minus the $0.70 they just pocketed. Even though they might have paid $0.13 and are cleaning up on the sale for $0.70, they can still pursue you (in most cases) for the other $0.30. It’s a raw deal but that is the game AHMSI likes to play.
Call our office and we’ll see what we can do to help. We have a very good track record versus AHMSI. Thanks!
I retained a lawyer who has sent many threatening letters to sue AHMSI. It is a bluff because I cannot afford the 30K. However they have completely ignored him. AHMSI also ignores the inquiries of my congressman, Chris Van Hollen (MD), except to say that they are ” preparing a response.” That was about two months ago.
– Their representatives in India call my home and work at least 4 times a day. I do not take the calls because they are to collect fees for which they cannot explain and each representative gives me conflicting information. In the last conversation I was told that they “used July’s payment to pay for April,” and that “$2500 was put in a miscellaneous account,” therefore, they are requiring an extra payment on my part. They refuse to direct the calls to my attorney.
— The servicer continues to mark me “late” every month with the 3 credit bureaus, in spite of the fact I have proof to the contrary. I sent documentation two months ago to the servicer in an effort to repair my credit with the bureaus. They have sent me several identical responses saying, essentially that they are “working on it.” In the meantime they have ruined my credit. And the terms that I had with other creditors have been changed dramatically to reflect my declining score. Last month AHMSI received my check on the 5th of the month, but waited to deposit it on the 16th, (the last day of the grace period). I was marked “late” again.
– Per AHMSI’s instructions I sent them a written request to find out the contact information for the investor who holds my note. After waiting a month they responded by saying that the investor was being overseen by “American Home Mortgage Servicing Trust,” thus sending me back to their main office. I want to know where the note is, who owns it . . .but that note in fact, could very well be lost.
My brother has contacted Maryland’s Assistant Attorney General about this. He sent us to an investigator at Md’s Department of Labor, Licensing and Regulation. The investigator has my background information but I’m not sure where it will go from here.
I think, bottom line, I need a forensic audit and evidence that there is a note somewhere.
AHMSI has taken my 15,810.13 cents and we will see if they try to keep my home. Seems that US Bank National Association owns my home although (i am lost). We are waiting for this modifcation but it seems they never call me back and I try to call in all the time. They say im missing a pay stub or some other form and i have already sent it twice certified along with a fax. I am hoping for an answer as i have given all my $$ to become current again and we are barely paying the mortgage with my wifes income decreasing along with us being in a chapter 13 (498.00 per month re-payment agreement). We never receive statements from the bank as to what we owe, or anything for that matter and we were paying on time for over a year and in may,2010 we simply couldnt afford to pay no more however family stepped up to help…i just hope it really helped and didnt hurt us in the long run. Also in 2005-2006 we were at our 2nd refinance and we basically got tricked and paid roughly 15-17k on each closing and didnt read the fine print….we feel ignorant and at the same time taken advantage of as we were not knowledgable and should of had an attorney. Gluk to all
Carmine,
I hope it works out for you. Your situation is not unique, AHMSI has a pattern of terrible servicing of loans.
Robin,
You attorney needs to begin litigation (in my humble opinion). AHMSI typically rolls over in actual litigation. At least so far as offering you a sweet deal. You will need to get very aggressive and I agree that you should get a forensic audit to determine at a bare minimum some of the possible angles for litigation. If you want us to audit your mortgage documents we can do so and provide the results to your attorney. If we find no violations or angles there is no charge.
At the onset I would suggest an “origination audit”. This will look for possible federal & state violations that will start you down the path. You can procure an extensive in depth SEC and securitzation audit if need be as well.
I am having a terrible time with American Home Mortgage. I started the modification process in September of 2009. I finally agreed to a mod that they offered me as i had no other choice. I sent the new agreement in in July (it had to be in before the end of July). The modification was supposed to start on September 1st. It has never happened. I call and get the run around all the time. No one has any answers. I am not paying them a cent until the paperwork actually goes through, if it ever does. What am I to do?
after pounding us with sudden escrow. we begged for 3 monhs for AHMSI to spread it out over 36 motnhs. they sent a letter in NOV 2010 stating, we should ‘rest assured’ it was done. (it wasnt. it will still over 1 yr.) one month later while still calling and begging them to LOOK at the numbers that escrow was still over 1 yr not 3, they told me to stop making my payments until escrow was worked out-they made a mistake. A week alter, i called a few times while they yanked me around 1 saying it was over 3 yrs 1 says it isnt . then they said if we are so concerned we should file for the HAMP program for help that we are prefect candidates. we did. a month laterstill no sign of review being done. they now state that we have to continue to make our payments with inflated (spread over 1 yr not 3) escrow payment bc we entered int othe HAMP program. Even though they sent a letter stating the DID IT a month b4 we ever even entered the HAMP. meanwhile they filed an act 91 for the payment we stopped making bc they told us to! an act 91 when it says in the HAMP papers they cant foreclose?! we paid them current. this week the HAMP adjustor called and said she was “about to file her papers for our trial payemnt when she got a file for deed and lie on her desk!? she said we must have filed it (NOT!!!) lies.we love our home and want to keep our home!!! she said she was look into it and investigage the possible mistake!? she said she would follow up with me-which she has not done. i keep callign and no one will put her on the phone. they say she will call me within 24-48 hours. this is serious business-a deed in lieu? i had to go learn what that was she didnt even tell me! shouldn she have called me back with a statement like that!? nope. i been calling-no one will tell me whats going on.
even though we are current i feel like they are trying to get my house!? why??? i cannot get anyone there to tell me the truth, they lie, shuffle me, isnt there help? isnt there protection from people like this? a loving family could loose their home to horrible people liek this who want to destry lives??? HELP!!! anyone know of what to do with this???
We live in Virginia. AHMSinc has caused us so much stress over the past two years. I have sent them the loan modification paperwork 4 times now and have had no assistance at all.
The fact that the county we live in appraised our home last October for over half less than we paid for it meant nothing to these people.
I am currently unemployed and their representative yesterday told me “go get a job” as a response to my question in regards to their lack of response to our loan mod request.
Is there ANYTHING we can do to save our home? They have given us 6 days to come up with $3500. A bit of a stretch for a single income family I’d say!!
Is there ANYONE that can help us???
Has anyone heard about the guy, that after going through all the craziness these “Loan Servicers” can put a person through, who literally considered suicide and then thought better of it. Instead, he waited until it was imminent that he knew he would have to move, bought a couple of pigs, moved his things out and left the pigs in the home. Did you know that pigs will eat ANYTHING?? Needless to say that by the time these “Loan Servicers” got the home back, there was nothing left except the frame and the foundation and it stunk to high heaven. The ENTIRE home had to be razed. Wonder how much money AHMSI made on that deal?? Here is a “partial” article
http://www.komonews.com/news/local/7709877.html
Bear in mind, I am not advising anyone to do this, but I think if more of us had this kind of BACKBONE and stopped allowing ourselves to become VICTIMS and have a VICTIM mentality, then this kind of crap would STOP. The problem is, is we keep trying to play by rules invented to protect the corporate entities and keep the common man a SLAVE to them. This is the definition of INSANITY.
Take a STAND… Do not BACK OFF … DO NOT trust any corporate entity to represent your best interest… the only thing they care about is PROFIT at ANY AND ALL EXPENSES. You are minor irritation and they could care less if you stay in the home or not.
I for one, will be letting them know in no uncertain terms that I will not be hand delivering my home of 11 years back to them without a small bonus addition of some livestock…. but thats just me.
I applied for a modification but they denied me stating I made too much money. The thing is I had to call them once a month to find out the status. Every time I called a “customer service representative” would make every effort to avoid answering my questions, they just wanted to know if I was going to make a payment. One time I got a call from them two weeks before my payment was due asking if I intended to make a payment. I stated I have two weeks before it’s due, we went back and forth until I finally said I don’t intend to make a payment now or in two weeks and hung up. I didn’t plan it but I haven’t made a payment since. I sent a letter requesting proof that they held the note to my house, I sent it registered and someone at AHMSI stamped it but I have yet toreceive proof. In a week or so I wil send a second request but I just heard that they are no longer in business. Long story short, I am attempting to get a security clearance for a job and the investigator called me and asked about my credit report. He said it showed I was four months behind and said he tried to contact AHMSI but he was informed they are no longer in business and he has been trying to find out who took over. I assume that’s why they haven’t called my house in a while. I would like to know who, if ayone holds the note. Could it be possible that I am one of the few that may actually not have a mortgage due to some error or events that occurred some time ago. Please feel free to email me with any information you may have regarding AHMSI or even just your story.
After many months I just got an in house offer from AHMSI. My home is 100,000 underwater. The original loan is a terrible interest only ARM. I owe 678,000 dollars because a year of 6.85 interest has accumulated. So, I owe around 67,000 dollars in arrears that is interest only. I paid 600,000 in the original loan which is an interest only loan. So, now I owe 78,000 interest and their costs more than I paid for it. Their offer is that I pay all of their fees, attorney, foreclosure, late fees etc. Pay the same interest rate since they say that the so called-investors- will not lower the interest nor anything else. So now my payment will go up–yes up—from 3771 a month to 4560 a month-still interest only. Why in God’s name would I keep the home that is underwater, pay interest only, and never have it paid for. Oh yes, also forgot, they offered me a quiet second included in this for 39,000. So, if I do not take this deal they will have the trustee sell the house within two weeks from now. Gosh, if I could only talk to the investors. Why would they take the home, sell it for 580,000 if they are lucky when I am willing to pay it all back but with lower interest and better terms. I just cannot figure this out. I do know though that If I was having trouble with the original payment, how do they expect a timely payment at over 800 dollars more a month? Am I looking at this correctly. By the way, I live in Ca. which is a non judicial state so what can they get from me??? Do they really want my home?
Where to start. AHMSI has apparently lost all the bank statements and other personal financial information I faxed them per their request for my attempt at a third load modification program. The first attempt I was denied due to being current on my loan. I lost my job and was then unemployed for 23 months. An AHMSI rep. told me that I could re-apply, but that I needed to skip a payment first. When I followed his advice, AHMSI denied my second attempt at a loan modification their stated reason was that I did not make enough money. Once back to full time employment I caught back up and became yet again current with my loan. I re-applied again per their customer service represenative. I received the packet in the mail, filled out in it’s entirety. When I called back in a week to verify they received my mailing, they told me it was deficient and that I needed to submit bank statements and a rental agreeeement for a roommate I had taken in. I then faxed in said documents and again waited a few days to call and verify they received everything. I had a successfull fax transmission sheet and verified their fax number, yet no one there could tell me what happened to all my financial statements I sent them. In fact they then asked me to re-fax everything, and admitted no one at their call centers would be able to verify they received anything for another 5 to 7 days. When dealing with time sensitive material, this company makes it impossible to get anything acomplished. They will not tell you names of supervisors, they will not call you back to verify the reception of important documents. Half their call center staff can barely speak English. I have spent more hours on the phone, faxing and mailing that to any other company in my life. Did I mention that they also send duplicates of all snail mail interactions (monthly statements, insurance offfers, loan modification packets..everything)
How about the fact they refused to use any data I provided in loan modification packets 1 and 2 for attempt number 3, even though some of the documentation was identical. I honestly beleive they go out of their way to make sure loan modifications cannot be completed in the allotted time frame. After nine years in the only home my daughter has ever known, I must wonder if the stopping of paying my mortgage, and the eventual foreclosure might be better than having to work with these people and their ilk.
To the person wondering if they are still in business, I did receive a statement from them in the past week or two.
Question: If I stopped making payments today, how long would it take if I did not try to stop it for AHM to evict us from our home? I’ve heard there are a lot of people who have continued living in their homes for over two years without making a payment. This is because the market is currently flooded and the mortgagors would rather have a “tenant” to maintain the property than have to pay to take care of it themselves. Also, if they actually take title they have to start paying HOA dues, I believe.
AHMSI is still in business. They rank just behind Ocwen in overall gross negligence as to properly maintaining and reporting mortgage borrowers’ escrow and mortgage accounts.
How does that saying go… If I had a nickel for every AHMSI client who WAS CURRENT until AHMSI screwed up their insurance or tax escrow…
Hello there
Question? I filed BK back in 12/ 10 and the attorney that was helping me out stated for me not to continue to make my mortgage payments after I told him that I just had a loan mod approved in 9/10. He told me he knew more than me and to listen to him. Now, I fell behind and I had to hire a new BK attorney because the first one was terrible and gave me wrong advice all the time. Now, I received a letter from the investors attorney stating that if I do not pay all funds that I owe, they will take property away from me. What can I do to work with investor? I do not want to lose my home at all.
It depends on the specific facts related to your loan. Please call our office 713-595-8200 and ask to speak to a counselor about your situation. There is no cost for an evaluation of your situation and all information is kept confidential.
Hello,
I have been fighting with AHMSI for over 3 years now. When my adjustable rate mortgage adjusted and my payments went through the roof, I asked for a load modification – this was back in 2007. My job and income had not changed, yet they jerked me around for months before filing a notice of default and starting with foreclosure proceedings. I had to pay an attorney out of Washington, who at the time claimed to want to pursue these dirtbags because of their unfair business practices, and after a year of not making a mortgage payment and waiting on the attorneys to help (Slinden&Nelson out of Portland, Oregon) AHMSI finally agreed to modify my loan and simply added the unpaid balance plus a bunch of other fees and late charges to the back of loan, extended the loan to 40 years and gave me a 1% interest rate that increases each year and caps out at 5%. I explained to Slinden & Nelson that this is not helping me out in the long term and my mortgage will be back up to $2400.00 per month again within the next 3 years. I can’t afford that which is what put me in this situation in the first place. The attorney’s response was that this was a good deal and I should just take it. I didn’t want to loose my home so I had no other choice. These guys totally lost interest in this case then said that since they are not California attorneys there is nothing else they can do. This was back in 2009 and it still makes me mad that the attorneys that were supposed to help me are no better than AHMSI. Now I’m working with NACA to help restructure my loan so that I can stay in my home for the long term, but I have no faith in them either. I’ve applied for a HAMP loan 4 times and each time I am turned down. AHMSI has told me that it would be better for the “private investors” to just foreclose on my house (which I am upside down in) than to work with me to allow me to continue paying them a mortgage each month.
I am currently employed and can make payments, I just want to pay something that is reasonable. Is there any hope or help for me out there?
We have been fighting with AHMSI since November 2009 when we filed for bankruptcy. We had them listed as a secured lender and after we had filed they quit sending statements. We never quit making payments while the bankruptcy was going on and when we called them they told us that the payments went into an Escrow account and that they were having us pay their attorney fees because we filed bankruptcy. We receive letters from another collection agency which is in fact AHMSI stating that we are 3 months behind in payments. We have faxed letters to them from our Bankruptcy Attorney several times giving our permission for our attorney to contact them. We just found out today that they sent a letter to our attorney asking for permission for him to contact them again. We also obtained our own homeowners insurance and faxed a copy of the policy to them since in the original note we had it stated that we would pay the insurance ourselves. When I contacted them about the insurance they told me that they had sent a check to our insurance company and we were to pay them instead of the insurance company. We contacted our insurance company and asked them if they had received a check from AHMSI they told us no and the only payment that they have received is what comes out of our checking account every month. They will not let us pay over the phone,online or with a check. We have to get a money order every month to pay them. We have tried to go to other banks to get a new loan but they will not help us because AHMSI has dinged our credit report saying that we are 3 months behind on our mortgage and we are not. We have the proof and have faxed copies of all the payments that we have made since the bankruptcy. They did contact us back in January asking what we had planned to do with the property and I told them that we have still been making payments and plan on keeping it. According to my credit report the mortgage that we have has been written off due to the bankruptcy. Any help in this matter would greatly be appreciated.
I was foreclosed by AHMSI two months ago after trying to obtain a modification for over two years. The way they strung me along by repeated requests for “updated” information, saying they never received documents I faxed over and over again, telling me to fax documents only to tell me later when I called that they were the “wrong” documents, well it was all a stall tactic. I think they never intended on giving me an affordable modification and wanted to foreclose all along. Three months prior to my sale date I learned of the HAFA program which is the government sponsored short sale that allows you to put your home on the market for four months and if it doesn’t sell, you can walk away without owing a deficiency and they give you money to relocate. No one at AHMSI mentioned this to me for over two years but when I found out I called and said I wanted to participate. I was told that I qualified and that a new negotiator would be calling me to advise me of the necessary paperwork they needed. After 30 days went by and not telephone call (common with them) I called only to be told that I no longer qualified because my sale date was now 60 days away and I needed to be 90 days away to qualify. They purposely prevented me from being able to participate in a program that would have worked for me. They just wanted to foreclose and make more money faster. I spent countless days/hours on the phone and emailing anyone I possibly could about the situation asking if they would postpone the sale date by another month so I could participate in the HAFA program. They refused to change the sale date no matter how obvious it was that they totally screwed me over by not sending me the information I needed as they said they would in a timely manner. I finally was able to speak with a Broderick Pillows who worked in the foreclosure department which I later found out he worked directly for the investors. He told me in no uncertain terms the Friday before the Tuesday when my sale was to take place that he was able to postpone the sale date and that I needed to give him various information prior to the upcoming Monday. Unfortunately, this was at 7:00 pm on a Friday and the information I needed could not be obtained until Monday at the very earliest. When I called him back on Monday he flat out denied ever telling me that he was able to get my sale date postponed and the foreclosure was going to happen! I requested the phone recording of our conversation and big surprise was completely stonewalled. So there you have it. They are a bunch of lying, inept, corrupt people that DO NOT GIVE MODIFICATIONS. They kept my credit in the dirt for over two years while I attempted to get a modification they purposely dragged out ultimately denying me one altogether. They couldn’t even prove that they had the right to foreclose because they couldn’t tell me who actually owned my note. I was part of an asset backed “trust” that had God knows how many individual investors. They didn’t really lose much for sure. They sold my home at auction for 130K less than I paid for it, received a 50% reimbursement for their loss (65K) and over three years of very high interest from me (approx. 60K). They ended up losing just 5K!!!!! That’s their game. They want to foreclose but obviously can’t foreclose on everyone all at once so they drag it out. I would like to sue them somehow for severe mental anguish and the complete and total destruction of my credit. I hope they keep getting sued.