AHMSI Modification Nightmare - Mortgage Forum

AHMSIWOES · 12-05-2009, 03:05 PM

I found this forum last night and I wish I had known about it several months ago. My wife and I are in an ARM and we're experiencing financial challenges as many of the other people within this forum. We reached out to AHMSI several months ago for assistance. They offered the MHAM, however, my income made us ineligible. AHMSI offered their own modification. This is where the nightmare began.

We were assigned to an Account Manager, Randa Saman. She seemed knowledgeable and answered the phone most of the time when we had questions. The problems started when our monthly payments went up from $1,400 to $1,488 during the trial period. Her explanations were not making sense. She then told us to make a lower payment while our mod was being reviewed. I explained to she and everyone else I spoke with from the very beginning that my income had decreased as a result of the economy and our "debt to equity" ratio had also deteriorated. We had also enrolled in a debt management program and curtailed all of our spending.

After making several payments while in the trial period, Randa told us to make lower payments. She said we should have not made the higher payments and told us to only pay $1,404. When I called in to make the payments, the company representatives that I spoke with said that the required payment should be $1,488. I told them that we were in a modification trial period and our Account Manager was telling us to make the lower payment. Their response was that their computer systems did not link with the Modification Department. I made the payment that Randa told us to make. I made the lower payment for 3 months and each month, I was told by different company reps. that the payment was lower than what I should be making. I would call Randa and she would confirm that I was making the correct payment. Then I began to receive late notices from the company telling me that I was behind in my payments. I also received letters from their law firm stating that I was in default. Another issue that we were experiencing with Randa was she told me on several occasions during the trial period that our new monthly payment would either be $1,404 or lower.

We were beginning to panic because of the letters and now I was unable to get in contact with Randa. My last conversation with her was on October 29th. She informed me that she was resigning and this was her last day. She also told me that our mod. had been approved and our new monthly payment would be $1,625. I became unglued and asked why our payment was going up when she told me several times before that our payment would be approximately $1,400 and we told them from the very beginning that we needed a lower payment. Her response was "take it or leave it." I also asked about the paperwork that I sent in which confirmed our high "debt to equity" ratio and why our payment was going higher. She said we can apply for a different type of modification that will take our "debt to equity" into consideration, however, if we are denied, we will not be able to apply for another modification within less than a year. I was furious!

Randa is gone and I'm now fighting with the company. We are in default, they claim that we owe them 3 months worth of late payments and the difference between what we were told to pay by Randa and what we should have paid. I have contacted every state and federal agency to include the Attorney General's office within North Carolina and Texas, FTC, North Carolina Banking Commission, and my State Representative, Sue Myrick, for assistance. I'm now working through an Attorney.

I'm disgusted with how this company has treated us. Their representative was either incompetent or intentionally railroaded us. The company is now taking a stance that we are the ones at fault. I will not stop until I get justice and I know the many others on this site feel the same way. I also blame the current Administration for not taking a more proactive stance on the mortgage disaster that is turning this country upside down. The Making Home Affordable Program is a joke and does not apply to most of the Americans who need help.

I welcome any responses and suggestions. I will keep everyone updated regarding the outcome of our issues. I hope and pray that everyone else on this site is able to get the assistance they need!

Sincerely,
Glenn Horlick
Matthews, NC

watsot01 · 12-05-2009, 05:14 PM

Whenever I talk to them I write them an email on the secure message center. If you want to keep your home have you considered filing Chapter 13 bankruptcy??

acesfull · 12-05-2009, 05:57 PM

Hi Glenn
Welcome to Loansafe. You will get some answers to your question here and hopefully get pointed in the right direction to save your home.
First, and I know its tough, but you need to settle down and think straight and be positive.
Glenn, you need to post more on your situation.
How many months are you past due on your mortgage? What is your hardship? Etc.

Let me tell you that AHMSI is doing tradition mods. You just need to contact the right people and department. I will give you that information. Where to write and who to write etc.
So please post your situation and you will get help here.
There are many other folks in your situation, you are not alone.

Have you been sent a default notice?
I see you are located in North Carolina? They are a Nonjudicial state, which means you may not have awhole lot of time before they try to foreclose on your mortgage.
So please post some more info and lets move forward. Whatever happen during your last efforts with AHMSI cannot be undone. You need to move forward.
Stay positive.
Acesfull

AHMSIWOES · 12-05-2009, 08:27 PM

Hi watsot01 & Acesfull:

In regards to the response regarding documenting our conversations, we are doing that and I believe AHMSI also records all telephone conversations with their customers. We are struggling financially right now, however, we can make ends meet and I don't feel that it's necessary to file bankruptcy.

Acesfull, I agree with you that I am very emotional right now and by engaging in a forum like this, it will help to calm me down. In regards to our situation, I don't consider us behind with our payments. We have been making our monthly payments. The dispute has to do with the last 3 months. We made the payment amount that we were instructed by our former Account Manager. She was incorrect and now we're being assessed late fees and the difference between what we paid and what we were supposed to pay.

Our hardship includes my current income, which has decreased as a result of the economy. Additionally, our credit card debt has increased substancially as a result of several companies increasing their interest rates. We have consolidated our credit card debt and entered into a debt management program, which has helped. We also have two young children and are trying to manage the associated expenses.

We have previously been sent two default notices from AHMSI's law firm, however, once I reached out to the agencies that I mentioned in my initial post, the letters ceased. AHMSI has responded to our complaints, however, their response did not address several of our concerns was innacurate.

I also agree with you regarding the past and I want to move forward as quickly as possible and resolve this. I'm planning on sending a letter to Jeanne Drake and Jim Davis shortly as well. I would like to ask for your guidance prior and anyone else who can suggest what type of letter to send to Jeanne and Jim as I have already been approved for a mod and I have the packet in hand.

I have also been assigned to a new Account Manager, Olivia Rogers and I'm in the process of setting up a call with she and her Manager, Wanda Williams. Another organization that I was referred to for assistance is a HUD approved non profit agency called the HOPE line. One of their counselors has agreed to mediate and will be on the call as well. My attorney has also encouraged me to follow through with this as it may be the fastest way to resolve the issues.

Thanks again for both of your responses and I look forward to hearing back from you.

Sincerely,
Glenn

Moe Bedard · 12-06-2009, 02:55 PM

Hey Glenn! Welcome to the community and I am sorry to hear about your AHMSI nightmare.

This problem is really simple to identify and one that many, many homeowners lose their homes to. UNCARING AND UNMOTIVATED employees are wreaking havoc on mortgage servicers and homeowners everywhere. If someone doesn't do their job in my company, we get hit by spammers and possible a website down.

If someone doesn't do their job at these mortgage servicers, people lost their homes.

Some of these negotiators have 500-800 files that = 500-800 homes. Imagine how many homes Ranada has lost under her watch with AHMSI? Some of these employees are causing millions in damages to their company, homeowners and cities. It is a travesty, but one we will never escape in this current world we live in. There are just too many tainted and unethical people out there that think the world owes them eveything.

So, what can you do?

I would have your attorney look into a Qualified Written Request and follow it up big time with force.

Qualified Written Request | LoanSafe.org

Quote:

When you obtained your home loan, you must have thought that your mortgage company would hold on to your loan and treat you like royalty. Heck, they wined and dined you when you applied for the darn refinance, then why are the playing games now?

A lot of abuse happens in the mortgage servicing arena. Some of the BS is done by mistake, but many believe that the constant run around, missed payments unexplainable fees etc. are done by design. The good news is that you have some ammo to help you fight back in case your being railroaded into mortgage hell.

Under the Real Estate and Settlement Procedures Act (RESPA)there is a little known consumer protection law that helps borrowers who have special inquiries and or disputes that are not being answered or met with their mortgage servicer. Under Section 6 of the Real Estate & Settlement Procedures Act (RESPA), a borrower can request that the lender document all claims for fees.

If you have been charged questionable fees or even if you have not, isn’t it wise to make your lender prove to you every penny that you owe them?

What a homeowner can do under RESPA is request in writing what is called a “Qualified Written Request (QWR). In this letter you can as about all questionable fees, entries, documentation and a life of loan history (all fees and payments ever made on your mortgage) from your lender.

You can get example copies in my free loan modification book and download it here. If you are an attorney or professional and would like legal forms and everything you need to process loan modifications, then please click here for my professional edition.

If you believe you’ve been charged BS late fees or are having other issues with the servicing of your mortgage, use this letter to fight back.

Moe Bedard · 12-06-2009, 03:04 PM

One more thing Glenn. Mortgage servicers are nothing more than money collectors who's main job is to get money out of you. Nothing else. Not help you, not assist you, but get that money from you for the people they work for, their investors.

Think of this like poker with a mortgage and house. The house knows you want to save it and also they know your cards. Its time to hide these cards and play hard ball with that lawyer.

It needs to be more like, I am going to be the biggest greasiest wheel you ever had until you get your deserved loan modification and promise them you will not go away until you get it. Then follow this statement up with action daily.

This action will be documented in their computers and you will end up getting flagged for them to just get rid of you by helping you

AHMSIWOES · 12-06-2009, 07:59 PM

Hi Moe:

I greatly appreciate your help! I have read the other posts and your responses. I joined this site only a couple of days ago and so far, I have more ammunition which will help me get past the issues that I'm having with AHMSI than I would probably would have been able to gather in months worth of research and reaching out to the other agencies which I've also been engaged with!

I'll keep you and the others updated regarding my progress. Thanks again for your advocacy!

Take Care,
Glenn Horlick

davephx · 12-06-2009, 08:54 PM

Glenn
Sounds like you are on the right track with HOPE etc.

Chap 13 (or 7) will do nothing to help you other than 13 would rollup deliquent payments in to the plan.

In most states the NOD is not what you should worry the most about. Again depending on State in a non judicial action after the NOD they have to send you a Notice of Trustee Sale.

Actually it looks like in NC even in a non judicial action you have to have a hearing first. So if only have NOD you still should have plenty of time to try and fight.

See:

North Carolina Foreclosure Law

North Carolina Foreclosure Laws - Information and laws for purchasing foreclosures in North Carolina

davephx · 12-06-2009, 08:57 PM

Glenn

Back to basics.

Take your gross income x 31%

How does that compare to the 1400 or 1625 amounts. Have to look at the basics to see if you have a reason to be justifiably upset.

Maybe the gal resigned because she was too nice...or didn't like what AHMSI was doing to folks....

irishmom · 12-07-2009, 09:14 AM

Moe,

Love you post . . . that is exactly what AHMSI is a Debt Collector out for cash only to benifit the Lender not help others. I have researched the internet for the past two years on this co. and they are all over it for fraudulant practices. I am praying in the meantime for cramdown legislation to be enacted which will all bk judges the tools to modify primary mortgages or at the very least a respectable mod from them. Hopefully the new year will offer this. Again everyone, if you make any deal with this co. PLEASE HAVE IT READ FIRST BY AN ATTY and Let AHMSI KNOW THAT YOU ARE HAVING THIS DONE. They are not to be trusted on good faith. Sad but true....

irishmom · 12-07-2009, 09:22 AM

Dave:

I understand the CH 13 comment but at least with a Ch 7 he can walk away free and clear.

davephx · 12-07-2009, 09:44 PM

Quote:

Originally Posted by irishmom

Dave:
I understand the CH 13 comment but at least with a Ch 7 he can walk away free and clear.

It may have been the "walk away" I missed. I'm too use to folks that are like me desperate to keep our homes!!

AHMSIWOES · 12-28-2009, 08:15 PM

I wanted to update everyone regarding my situation. I made contact with Jeanne Drake and Jim Davis. Jeanne forwarded my letter to the last Modification Specialist, who has since, left the company. Jim Davis assigned a Manager to assist me and she has been very helpful. So far, the company has sent letters to all credit agencies notifying them that we did not make any of the disputed payments late and have forwarded another modification request to Freddie Mac. They also stopped sending default letters and I was told that my mortgage is not in jeapordy.

These recent developments may not have happened if it were not for this site. I appreciate everyone's help and I will continue to keep you updated regarding the progress of my loan modification.

Happy New Year!
Glenn Horlick

RhodeIslandRed · 12-29-2009, 07:56 AM

I am also dealing with AHMSI, and the fact that you have been able to make progress gives me some hope too ... thank you for sharing your story!

Can you give me the contact information for Jim Davis? I have the fax, phone and email contact for Jeanne Drake and am attempting to enlist her help ... it sounds like Jim Davis is also someone I should reach out to.