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First Franklin Loan Services Complaint - A bunch of crooks - home loan service
home loan service - Complaint
My wife and I bought our first home - from first franklin.. was fine at first.. then in one jump..from 1200 a month to 1700.. thats just the first jump. so we did a loan modification, we would send them all the paper work and 2 moths later I would have to send the same papers over and over.
then I got a call we are sending you the loan papers but needs to be signed in 2 hours or lose your home.. so we signed .. being we are not ready to move .. the rate was a 4.3 - but other then that was the same loan all over.. and they took all the payments that was behind and plus more money .. and put it back on the loan .. showing that in 4 yrs I never made not one payment... so a yr later we tried to redo the modification again, they just tild us no sorry. you cant..after I was told I could do a modification at least 11 times .. so then just a month later they sold my loan to first of America... so now my home is in forclosure ..
well I won't stop here I'm going after first franklin ... till first franklin is no more - I also see way to many unhappy poeple with same problems .. lets all get togther and fight first fraklin ... email me at rickerd7800@Yahoo.com .. lets get a class action law suit going ...
then I got a call we are sending you the loan papers but needs to be signed in 2 hours or lose your home.. so we signed .. being we are not ready to move .. the rate was a 4.3 - but other then that was the same loan all over.. and they took all the payments that was behind and plus more money .. and put it back on the loan .. showing that in 4 yrs I never made not one payment... so a yr later we tried to redo the modification again, they just tild us no sorry. you cant..after I was told I could do a modification at least 11 times .. so then just a month later they sold my loan to first of America... so now my home is in forclosure ..
well I won't stop here I'm going after first franklin ... till first franklin is no more - I also see way to many unhappy poeple with same problems .. lets all get togther and fight first fraklin ... email me at rickerd7800@Yahoo.com .. lets get a class action law suit going ...
Comments:
Posted by Venice09 on 2011-06-23:
I'm sorry this happened to you, but you have to remember that First Franklin was under no obligation to give you a loan modification in the first place. Sometimes it's better to face the fact that you can no longer afford the mortgage payments instead of trying to avoid the inevitable.
Very few of these loan modifications go through, and many people end up in losing even more money in the process. In many cases, the banks don't know what they're doing, resulting in a lot of miscommunication and mistakes. If possible, hire an attorney to help you through this. It might pay off in the end.
Very few of these loan modifications go through, and many people end up in losing even more money in the process. In many cases, the banks don't know what they're doing, resulting in a lot of miscommunication and mistakes. If possible, hire an attorney to help you through this. It might pay off in the end.
Posted by AshleyFurnitureRules on 2011-06-24:
Great review! very helpful.
Posted by justcuz on 2011-06-24:
If FF indicated that you qualified for a loan modification and then gave you the runaround, you absolutely should contact an attorney for a consultation right away.
Also, for a payment to jump from 1200 to 1700 in one month, had to mean that you were on an adjustable loan...but, they still have to give you notice that your payment is changing. What I don't understand is how it went up, unless this happened before the market crash? I know someone on an adjustable rate and their payment has gone down for the past 3 years in a row, because rates are so low right now. There are also caps on how much the rate can be raised per year..like 2 or 3% I think.
Also, for a payment to jump from 1200 to 1700 in one month, had to mean that you were on an adjustable loan...but, they still have to give you notice that your payment is changing. What I don't understand is how it went up, unless this happened before the market crash? I know someone on an adjustable rate and their payment has gone down for the past 3 years in a row, because rates are so low right now. There are also caps on how much the rate can be raised per year..like 2 or 3% I think.
Posted by Venice09 on 2011-06-24:
Just, the payment might have increased due to real estate taxes, but I don't think that would qualify for a loan modification.
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