- Report: #295359
Complaint Review: Option One Mortgage Company - Irvine California
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Author Confirmed
Why?
Option One Mortgage Company
Po Box 57054 Irvine, 92619-7054 California, U.S.A.
Phone:
800-648-9605
Web:
N/A
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Business Rating:
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Tell us has your experience with this business or person been good?
Option One Mortgage Company BEWARE they will try to scam you for your property Los Angeles Irvine California
This mortgage company pretends to want to help us with our two late payments but they continually try to do everything to attain your property. Although since being with this company we were never late until recently due to an on the job accident which cause us to fall behind on payments. we eventually caught our payments up but are being accessed unbelievable fees an other charges as they say to try to put us in arrearage again. option one seems to be a company ran by the people with little to no morals. They do not communicate well with one another and you can never speak to the same person.
When you finally communicate with one of the represenatives they tell you different things. they hold your checks so they may attach late fees and as they say other charges ? i believe option one wants you to default. we called to work out a payment plan even tried to qualify for their program but was denied. A representative threatened us with foreclosure twice even though at that time we were only one payment past due. We also inquire into one of their programs to try to set up a payment plan and was denied for that as well. we even inquired about our interest rate to be lower but was told that would not help us because our payment would go up. well our payment is still due to go up at an interest rate of 10 percent the beginning of the new year anyway which is an additional 1200 dollars.
Sinobia
Pasadena, Maryland
U.S.A.
When you finally communicate with one of the represenatives they tell you different things. they hold your checks so they may attach late fees and as they say other charges ? i believe option one wants you to default. we called to work out a payment plan even tried to qualify for their program but was denied. A representative threatened us with foreclosure twice even though at that time we were only one payment past due. We also inquire into one of their programs to try to set up a payment plan and was denied for that as well. we even inquired about our interest rate to be lower but was told that would not help us because our payment would go up. well our payment is still due to go up at an interest rate of 10 percent the beginning of the new year anyway which is an additional 1200 dollars.
Sinobia
Pasadena, Maryland
U.S.A.
2 Updates & Rebuttals
Scott
Kentwood,Michigan,
U.S.A.
A law suit?
#2Consumer Comment
Mon, March 03, 2008
Out of curiosity, are these rates going up because your ARMs are expiring? Have you read your mortgages to see if it might be due to a hidden clause, such as they are free to adjust your rates when you miss a payment? Option One is a subprime lender, which means you're with them because you have had other issues with other loans. I know. I've been there, and I've been with them. I never had an issue with them, although I was only with them about 18 mos. before I refinanced my 3 year ARM. Learn to read the fine print, and know what you are signing. Those forms that are placed in front of you at the closing are extremely important. The closing is the last time that you have to argue the fine print. Quit blaming the lenders so much. Yes, they are scum for taking advantage of people with poor credit, but people with poor credit should really learn their limitations. Home owning is a privilige, and not a right!
Donald
Warwick,Rhode Island,
U.S.A.
Option One raises rates as they feel.
#3Consumer Suggestion
Fri, January 04, 2008
To all you people complaining about Option One, I have two suggestions. File a complaint with the California Attorney Generals Office. You can download the form at the State of California web site. Also, The Federal Reserve Bank has a downloadable complaint form of their own at their web site. If we all get together and we all files these forms maybe somebody will do something about them.
