Everything that has been written about this company is a fact.
Everyone please go back and look at your original loan contract especially if it was a mortgage with another company and American Home Mortgage purchased it.
We have (5) loans on investment property they increased the amount of the loan, interest rates and lost escrow monies.
I have been paying for the last 50 months interest on an inflated amount.
I have a variable interest rate which goes into effect July 1st... They have not notified me or reduced the payment for July 1st, why because it is in there favor to charge me more interest. And violate the contract.
They process payments late on purpose to make money. They put the payments in miscellaneous accounts and then slander your credit report. They have made up charges to charge people with to make money. They are purchasing insurance for you, even when they have paid the money from the original bill for the insurance company out of escrow, claiming you don't have any insurance.
They are sending foreclosure notice to my home as well as to the investment properties, upsetting the tenants. I truly believe they are misapplying payments and putting them into an miscellaneous funds to purposely foreclose on properties so they will have all these homes to sell for a profit when the market turns around.
I have written, faxed, and spoke to them till I am blue in the face with no resolution. I have reported the to the IDFPR - Division of Banking and Financial Institution in Illinois, I have hired an attorney to hopefully get my loans straighten out. Should we get things ever in order, he is sending me to a class action attorney, so anyone out there please let me know it you are interested in a class action suit.
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