When Mortgage Servicers Make Mistakes

I have a new mortgage servicer and my experience has been nothing but an annoying nightmare. Perhaps this is a good time to review what the federal government says about mortgage servicers. A key point is professionalism and no surprises. When mortgage servicers make mistakes, records get lost, payments are processed too slowly, or servicer …

American Home Mortgage Holdings Angers Partners

I do not have any houses serviced by American Home, but have been tracking the progress of the mortgage payment servicers for mortgages during the mortgage meltdown. American Home is holding payments collected from borrowers and not forwarding the money to the lender as specified in their servicing contract. Their defense of the action is …

Personal Bankruptcy, Reaffirmation, ARM’s and Foreclosure

Banks claim they do not want to foreclose because they lose money. I have permission to share this open letter from a person that did not reaffirm their adjustable rate mortgage after bankruptcy: “They filed foreclosure last year, we sucked it up and paid almost $9,000 to them – we requested an “accounting” of where …

Check escrowed taxes, insurance as lenders struggle

What is your recourse if the mortgage company fails to pay your taxes? What if they do not pay your property insurance? If you read about your mortgage broker going to prison or see your mortgage company on Fox News with Shepard Smith you might want to check your statements. The lenders referenced below are …