Option One Mortgage Pay $8400 to stop foreclosure?? Ripoff Irvine California
Was out of work for 6 month's due to surgery. I became late on May 2007 & June 2007 mortgage payment's. In July I sent them money to cover May, June, July and August's mortgage plus late fee's. It had been two week's and they hadn't cashed the check so I called to ask why. (I had tried to pay online and it wouldn't let me anymore, like before kept getting an error code saying "We can no longer accept your online payment." So I mailed a check in the middle of July) I call and find out they foreclosed on our home. We were only late not only 2 and a half month's and I tried to pay but when I called yesterday, August 2nd they said they sent my payment back to me on July 25, 2007. This is not right!
They said to stop the foreclosure I would need to pay them $8400. Hello, we are talking about 2 week's ago, supposedly they filed a foreclosure and I have to pay $8400? I said to the guy, "Why won't you take my money? I sent you money for all the money owed and you won't take my money! WHY?" He said, (In a major india accent, hard to understand) "We don't take partial payment's." I said, "I paid in full including August's mortgage, how's that partial?" When my husband got home last night he wanted to call and find out what was going on, why wouldn't they cash our payment? He calls, and gets a woman who has, again a very strong india accent. My husband says, "I cannot understand you, can I get someone who doesn't have such a heavy accent to talk with?" She told him that everyone there has the accent because we were calling India. All the call's are directed to India.
After finding online all the complaints on this company, I see this company is not kosher. I would like to file a complaint and take them to court. I would like to have them be forced to sell my loan to another lender that doesn't practice "cherry picking" finding people and setting them up for foreclosure. Would someone please tell me what kind of lawyer to contact or is there a class action suit against this company? Someone help before we lose our home! We did nothing wrong, we paid and they won't take our money. They want $8400 on top of everything else to stop the foreclosure! Help!
Kori
Rio, Wisconsin
U.S.A.
9 Updates & Rebuttals
SocratesAL
Auburn,Alabama,
U.S.A.
Really ?
#10Consumer Comment
Sun, May 31, 2009
All of this on a 2 year old post ????? Like Dave is still reading this.......Geeezzz.
Sickofexemployees
Naples,Florida,
U.S.A.
To Dave; Tell us something we don't know already,useless drivvel!
#10Consumer Comment
Sun, May 31, 2009
Dave , I think by now most people are aware that 99.9% of brokers, realtors,mortgage co.'s etc are less than honest and ethical (being extremely kind here).Unless you have been stuck on a deserted island or in a coma we know all the enlightened info you provided in your inane post.I would suggest,until you have something helpful to add to the conversation you should go back to your cubicle in the boiler room you almost definitely work in and try to think of something useful to say. People who write in to this and other forums are in danger of losing their homes and more to the scum of the earth and doubtful need a lecture from a troglodite like you. Maybe you should try to show some compassion to these folks, or better yet SHUT UP!!! Obviously,DAVE'S NOT HOME MAN.
Dave
Jacksonville,Florida,
U.S.A.
You are all forgetting a very important fact
#10Consumer Comment
Mon, September 17, 2007
That one little fact that is being overlooked is this: YOU WERE ALL LATE! First off, the OP was 90 days behind, not 45, not 60. They said they mailed off May, June July and August in the middle of July... The middle of July puts the the OP 90 Days late!
As cruel as this sounds, you people are late with your mortgage, which opens up the door for these unscrupulous mortage companies to slap you with all kinds of fees. I read a lot of these stories, and 98% of them start off with 'I was hurt on the job and couldn't work...' or 'We had house/car problems, and couldn't make the house payment on time...'.
The fact of the matter is, THEY DON'T CARE! All they care about is getting their money. Bottomline is, if you have a house payment DON'T BE LATE. You are just begging for trouble. Very few people are able to crawl out from under the fee wagon when they fall behind on their mortgage. They wind up selling, begging and borrowing to pay off all the fees to save their house, when all they had to do was sell beg and borrow when they KNEW they were going to be late. Necessity is the mother of invention, however, when if comes to mortgages, it's already too late.
Bogiehead
Portage,Michigan,
U.S.A.
Same thing happened to me
#10Consumer Comment
Mon, September 17, 2007
I was in the same situation,and YES, Option One DOES start foreclosure proceedings after only 60 or 90 days late. My wife was unable to work for the last three years of her life, and Option One didn't care or try to do anything to help us. So, yes it IS true that they do this, because it happened to me. (I lost my house last September.)
Kori
Rio,Wisconsin,
U.S.A.
How can we get in contact with others that are going through this same thing with Option One?
#10Author of original report
Mon, August 06, 2007
You all know what that ONE option is, right? Foreclosure. I would really like to be able to get in contact with others that are going through this same thing. Isn't there something we could all do together? Such as a Class Action Lawsuit? I mean this is just not right and for them to get away with it this many times, it's absurd! I would like to have the ability to discuss this with others who would like to do something about it!
Mortgageguy78
Anonymous,Kansas,
U.S.A.
Options that may be useful
#10Consumer Suggestion
Fri, August 03, 2007
Kori - From what I gathered on your complaint you were 60 days late on your mortgage. I have been in the mortgage industry for a long time and I have never seen foreclosure proceedings started on a 60 day late account. Usually once a homeowner becomes 120 days late or greater the lender will start proceedings. You may have a few options available.
1) You could potentially refinance your home to get away from option one. There are lenders that are willing to work with home-owners that have been 60 days late within the last 12 months. Your main concern with this option should be the interset rate you could qualify for. Normally it's not very pretty for a homeowner with a 60 day late reporting to the credit agencies, however it is an option.
2)Check your state laws. Some states have a 12 month grace period for foreclosures. This simply means that the state will allow you a 12 month period to get yourself out of the foreclosure jam and make things right with your lender. If you could not reconcile with the lender after 12 months then they can complete the foreclosure. Most states do not have this law in place so you will want to check.
3)Speak with an attorney and find out what your options are. If you take this option I would still attempt to make your mortgage payments until told otherwise. This way if you have to refinance to escape option one it will not damage your credit even more
Mortgageguy78
Anonymous,Kansas,
U.S.A.
Options that may be useful
#10Consumer Suggestion
Fri, August 03, 2007
Kori - From what I gathered on your complaint you were 60 days late on your mortgage. I have been in the mortgage industry for a long time and I have never seen foreclosure proceedings started on a 60 day late account. Usually once a homeowner becomes 120 days late or greater the lender will start proceedings. You may have a few options available.
1) You could potentially refinance your home to get away from option one. There are lenders that are willing to work with home-owners that have been 60 days late within the last 12 months. Your main concern with this option should be the interset rate you could qualify for. Normally it's not very pretty for a homeowner with a 60 day late reporting to the credit agencies, however it is an option.
2)Check your state laws. Some states have a 12 month grace period for foreclosures. This simply means that the state will allow you a 12 month period to get yourself out of the foreclosure jam and make things right with your lender. If you could not reconcile with the lender after 12 months then they can complete the foreclosure. Most states do not have this law in place so you will want to check.
3)Speak with an attorney and find out what your options are. If you take this option I would still attempt to make your mortgage payments until told otherwise. This way if you have to refinance to escape option one it will not damage your credit even more
Mortgageguy78
Anonymous,Kansas,
U.S.A.
Options that may be useful
#10Consumer Suggestion
Fri, August 03, 2007
Kori - From what I gathered on your complaint you were 60 days late on your mortgage. I have been in the mortgage industry for a long time and I have never seen foreclosure proceedings started on a 60 day late account. Usually once a homeowner becomes 120 days late or greater the lender will start proceedings. You may have a few options available.
1) You could potentially refinance your home to get away from option one. There are lenders that are willing to work with home-owners that have been 60 days late within the last 12 months. Your main concern with this option should be the interset rate you could qualify for. Normally it's not very pretty for a homeowner with a 60 day late reporting to the credit agencies, however it is an option.
2)Check your state laws. Some states have a 12 month grace period for foreclosures. This simply means that the state will allow you a 12 month period to get yourself out of the foreclosure jam and make things right with your lender. If you could not reconcile with the lender after 12 months then they can complete the foreclosure. Most states do not have this law in place so you will want to check.
3)Speak with an attorney and find out what your options are. If you take this option I would still attempt to make your mortgage payments until told otherwise. This way if you have to refinance to escape option one it will not damage your credit even more
Mortgageguy78
Anonymous,Kansas,
U.S.A.
Options that may be useful
#10Consumer Suggestion
Fri, August 03, 2007
Kori - From what I gathered on your complaint you were 60 days late on your mortgage. I have been in the mortgage industry for a long time and I have never seen foreclosure proceedings started on a 60 day late account. Usually once a homeowner becomes 120 days late or greater the lender will start proceedings. You may have a few options available.
1) You could potentially refinance your home to get away from option one. There are lenders that are willing to work with home-owners that have been 60 days late within the last 12 months. Your main concern with this option should be the interset rate you could qualify for. Normally it's not very pretty for a homeowner with a 60 day late reporting to the credit agencies, however it is an option.
2)Check your state laws. Some states have a 12 month grace period for foreclosures. This simply means that the state will allow you a 12 month period to get yourself out of the foreclosure jam and make things right with your lender. If you could not reconcile with the lender after 12 months then they can complete the foreclosure. Most states do not have this law in place so you will want to check.
3)Speak with an attorney and find out what your options are. If you take this option I would still attempt to make your mortgage payments until told otherwise. This way if you have to refinance to escape option one it will not damage your credit even more