Regarding a nation wide story on Predatory Lending
From:
Nick
Alameda, CA 94501
April 18
To whom it may concern
Now i need help i have not water or gas no money or food i have to wait.
15 to 20 day because AMC has to investigate. Were is the support I have been rob and damage
Thank you for the support to the ones that responded to my letters for help. But some how it seems that my hard work has paid off. There seems to be big issues of accounts which the events have occurred while refinancing my home with Ms. Shelly Poe, broker of Pinnacle Finance, Of San Jose ca. And AMC mortgage and reasons for declaring my home loan invalid.
All the time and effort I put in to get rid of these issues seems to have been for nothing. Talking about my creditworthy and the financial mess and the stress and pain that my family and I have been put though. I just wanted to take a moment to make a comment about the professionals and the lack of services [That I have experience with the respect of all the professionalism and I do mean with respect.
This is a true story I have been asking for help for 11, months from Equifax and Experian, TransUnon.
I have provided all of the research and provided everything that your company has requested; I informed this company's with letters of confirmation copies of checks. I called I faxed, mailed & e-mailed. I have written about 2000 letters or more. I Paid for nine of there online monitor's services to help me fix there errors and inaccuracy on my credit report. I never received the support that I was entitled to by the customer service staff nor did I get help. Your system did not work.
Starting with the broker Ms. Shelly Poe told me she promised to help me correct the errors that were on my credit report... in Oct Ms. Shelly Poe help me with a loan Option One that also need to be look in to. At that time all my accounts were paid in full expect a 30 day late that was not valid on my credit report for four years just taken off 9/06. All that in interest if you would add that it a lot of money
Ocwen Federal Bank FSB Ocwen would like to thank this opportunity to thank you for your recent inquiry regarding the above referenced loan. As previously advised in the letter dated fedruary 5 Ocwen has reported MR Ramirez credit report to reflect his loan with Ocwen to Paid as Agreed for all months.
Below is an account of the events which occurred while refinancing my home At the time when I got this loan I was in a wheelchair, due to a recent accident which occurred in November. This accident left me unable to work for almost one year. Ms. Shell Poe, who had helped me with my previous refinance with Option One, told me not to worry about any of the paperwork. She was going to handle everything. I never filled out an application, nor did I see any preliminary documents prior to signing the final papers. I was not of my right mind due to my accident, and she just told me where to sign.
I never received any closing loan package, My realtor was able to obtain a copy of the Deed of Trust for me, April 5. I noticed that the signatures and initials were not mine signature, as well as my name was Awhite-out@. When I compared it to the documents that I received from AMC on Monday April 9, the copy sent me there is no white out, my name is typed in and it is not a recorded copy. All docs were forge the
Grant Deed it had Ms. Shell Poe signature as the notary public she was the broker that not right Also my signature was forge.
Falsified or Fraudulent application.
Ms. Poe falsified my monthly income on my loan application to Argent Mortgage without my knowledge. She said I was making $117,000.00 a year, when at the time I was in a wheelchair and unable to work. Item 8 of the Deed of Trust states that this loan will be in default if any persons or entities acting at the direction of Borrower give false, misleading or inaccurate information or statements to lender in connection with loan.
Excessive Mortgage Fees
In March I needed to refinance I was ready to sign with World Savings. My monthly payment was going to be $1800.00. Miss Shelly Poe contacted me and stated she could get me a better loan. She submitted forged documents to World Savings and as a result, I was denied the loan.
In March I had receive a copy of my credit report 3/28/06 with a score high 620.
In this credit report there was one account the was open that was paid in full in Oct 27.
1 Account was paid $802.00 which apparently left a...$. 65 balance which I was not informed about and caused the account to reflect that I was in the rears. I would not become aware of this had I not called the creditor to inquire about the status. 2. Also a fraud account that I report to the company that it was with and to the credit bureaus. 3. A 30 day late that was not valid on my credit report for four years just taken off 9/06. And 80 inquires on my credit report that the Equifax deleted 80 in June and Experian, TransUnon. Deleted 60 inquires
ALL WHICH WERE invalid AND COST ME A LOT OF MONEY BUT STILL TO THIS DAY ON MY CREDIT REPORT IT STATE THAT THE INQUIRES IS WHAT AFFECT MY CREDIT.
In March I had receive a copy of my credit report 3/30/06 with high score 605.
Two day my score went down 15 points with the same errors that were on the credit report.
Date two day before 3/28/06. Why did it go down and why did AMC go with the low score.
That cost me $25.000 or more. Miss Shelly Poe it was your job to take care of this errors and AMC TOO so who fault is it the Credit Bureaus or AMC Miss Shelly Poe.
I have file identify theft and place a fraud alert in my file with the credit bureaus that was to be for 90 days it was never taken off the this day. Just to make this clear this fraud alert was about.
Fraud it was about bad reporting and still I had to pay. All the time and effort I put in to get rid of these issues seems to have been for nothing
In March I was approved for an adjustable rate mortgage with Argent Mortgage for $550,800.00 for 360 months. My principal balance prior to this refinance was $480,000.00 with a $3,871.00 monthly payment. Now my principal balance is $576,000 with a monthly payment of $3871.17. Out of the $90,000.00 of equity that has been taken out of my home, I only received $36,000.00 cash out.
Please see attached papers for highlighted portions that are either inaccurate or fraudulent.
Negative Amortization
My monthly payment of $3871.00 does not cover the monthly payment so my principal balance increases each month. This will cause my payments to increase substantially over the period of the loan. The amount financed is $550,800.00. The amount I will have to pay after I have made all payments would be $2,165, 987.61, which is almost four times what my house is worth.
Ms. Poe told me not to worry about the high monthly payment. She stated that this loan would only be temporary. She promised to help me correct the errors that were on my credit report. Once the credit issues were resolved, she was going to restructure the loan so my payments would be lower.
April B paid $3871.19 on time
May - paid $3871.19 on time
June - paid $3871.19 on time
July - paid $3871.19 on time
August B paid $3871.00 on time.
September B Late on my first house payment.
Ms. Poe assured me that she was going to get me a loan where my monthly payment was going to be reduced to $1800.00, and I would receive approximately $30,000. I was to sign on Oct 11. At the last minute, she called and informed me that the best she could do was raising my house payment to over $4,000.00 per month and get only $6,000.00 cash back.
10-06-06 B received a Notice of Intent to foreclose from AMC on November 7 B reinstatement balance of $7795.94.
I was to sign on Oct 11. At the last minute, she called and informed me that the best she could do was raising my house payment to over $4,200.00 per month and get only $6,000.00 cash back.
11-06 Received Notice of Default from AMC (you have copies of all notices I have received from AMC & Towne & Country Title Services.inc.)
12-12-06 B Met with a lawyer, Steven Small to review loan documents. He pointed out that Option One incorrectly charged interest at a rate of $80.00 per day for 02/06 B 04/06 for late payments. I was not late during that time. (See attached billing statements.)
01/15/07 B Spoke with representative from AMC on phone and she informed me that I would need to pay at least $5000.00 if I wanted to set up any type of repayment plan. She also informed me that AMC does not restructure their loans to add amount of default to the end of the loan.
02-15-07 B Spoke to customer service reprehensive from AMC to request a copy of a payment demand letter.
02-26-07 B received copy of payment demand letter which stated a balance of $26,000 to reinstate the loan.
03/07 B AMC sent two representatives from Titanium Solutions to my home to discuss possible solutions to avoid foreclosure. I was never informed that they were coming to my house so I was reluctant when asked to sign anything. I called AMC while they were still here, and AMC did not know anything about this meeting.
03/15/07 B My water was turned off.
03/18/07 B Seven on your side came to my home to hear my story, and interview me.
03/23/07 B Received copy of Notice of Trustee Sale which will occur on 04/13/07. The notice stated that the amount of unpaid balance and other charges was $570,608.69. My initial loan was for $550,800.00.
03/26/06 B Spoke to Michelle from Reinstatement department of AMC regarding possible solutions to reinstate this loan. She said that if we pay them $25,000.00 down, she would reinstate the loan, but an additional $900.00 would be added to the monthly payments for the next 11 months. That would make the monthly payment $4800.00. I informed her that that was an unrealistic solution. I then asked if she would extend the foreclosure date. She stated that the only way AMC will extend the foreclosure date is if we send them proof that there is an interested buyer that has been approved for an amount which would satisfy the loan. She also said in addition to an approval letter, we would need to send a copy of the contract and HUD papers.
04/06/07 B Received another payment demand notice which stated a balance of $35,969.36. (An additional $10,000 in fees in just 1 month).
This Friday April 5 I receive copies of the documents that were Record though the
Alameda County the document that I receive were all forge I have 20 pages all have been forge
Deeds of Trust it looks like my name was white out, Also my name were forger on all the docs and Initials too.
04/06/07 B Met with a real estate agent to list my property for sale. (This is as a last resort).
Friday 13 April I had a interview with Alexandra Deen of PCBS News in New York, who came to my home to interview me regarding a nation wide story on Predatory Lending.
Now i need help i have not water or gas no money or food i have to wait.
15 to 20 day because AMC has to investigate. Were is the support I have been rob and damage
Thank you
If you can help me, please contact this website.
Nick
alameda, California
U.S.A.
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