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First Franklin can not be trusted and be wary of any false hopes offered by this company. After dealing with them trying to refinace/renegotiate before an ARM comes due I have been strung along. They have told me I make too little to qualify (bill to incone ratio escew), next told I make too much (have too much income with same numbers as before), flat told they " don't regenotiate ", been offered another arm, told I must be the only one they have heard any complaint from. With 700+ credit score and never missing a mortgage payment they probably see me making the 11% and +7% mortgage payment with the latter capping at 12%. Recently I found out about the PMI insurance they are probaly looking to capitalize on at the expense of hard working americans. DO Not work with this company wich is operating under the name of HOME LOAN SERVICES. And I must point out that the manager I spoke too took pride that they are owned by Bank Of America.
The complaint has been investigated and resolved to the customer’s satisfaction.
As with all of you, my husband and i lost our home to First Franklin. We had a arm loan. 80/20 at that. Bought in October 06. Interest rates 10.30 & 6.45 We were in our home 2 years . Asked FF to help us refinance through them. They stated that they would not help us . Told us to go get another loan to pay them off, that they would except a short pay off. Husband and i searched for 2 month. Keeping up with payments that adjusted up and put off other bills to try to keep our home. We found a government loan that was a new program. We got approved for loan . Had loan for 1 months. Contacted FF to tell them okay, we got a loan. Told us to send them paper work. We did . Contacted them a week later. They stated they never got paper work . Faxed paper to them. 3 days later we called to see if any one was working on our case. They stated, they never got the fax. My husband and i went round and round with them on the phone. The new loan reps tried to talk to them to see what the hold up was and let them know that we only would have a couple more months left for getting this loan. First Franklin told new loan company to stop calling them. I called them back . Asked, what are you people doing. We got the loan, are you going to help or not? You said you would except a short pay off. FF told us they had to negotiate. They got back to us later and said NO they would not except any short pay off. They would do a modification. Came back 2 weeks later, by then we lost our other loan. Told us they would do an extension of interest only again for 3 years with notarization and signatures. They gave us a ultimatum of take the loan or we lose the house to them. If that isnt predatory lending on a grand scale then we dont know what is. TNT DIAS
First Franklin screwed us as well, Had to send our paperwork in three times, they said they didnt receive it, then they said it went through the paper shreader, After months of waiting, I called and they said it would be a nother three months because they were behind. The lady we delt with talked us through the modification papers, papers show my modification interest rate is 9.0 and they dropped it to 8.99 and my payment went up $250.00 a month. She said we had to make three monthly payments, Then after that the papers would be re drawn up and the interest rate would go down sugnificantly. Well lies lies lies, made on time payments for 5 months and no paperwork, I called and left messages 50 times, no body ever answers, and they dont call back when you leave messages. How is paying $250.00 more a month a modification to help me save my home? I dont know what else to do but let it go to forclosure and walk away. Chris
We could be one of the homeowners/foreclosure where fraud was committed. We purchased a house in Dayton, Nevada in 2005. Prior to closing we were told that the loan was a fixed loan. At closing and signing the documents, we learned that the loan was an ARM. We went ahead and signed the papers paying a down payment of $15, 000. Two years later, they doubled the payments (1st and 2nd) from $682.78 & $1729.72, to $1385.46 & $2399.28. We are writing “they” did this because we are not sure who owned the mortgage. The mortgage service company was First Franklin out of Pittsburgh, Pa (PO Box Dallas, TX) but the actual mortgage owner may be the Bank of America (information from the internet). When the ARM kicked in we tried to work with the loan service company on a loan modification program (via homeownership counseling) but (after sending the paperwork twice) were told we did not qualify and to pay off the loan or find other financing. A number of the documents we received have spaces for a notary seal but were not notarized on our copies. We were forced to vacate the house in February 2008.
I need help...does anyone know how to contact first franklin...Our mortgage was originally thru them. When i call the 1800 number it gives me Bank of America. I did recieve a letter that Bank of America owns them now and to send the mortgage payments there as of Oct 1st 2010. We were shocked to find out end of September that we are in collections with First Franklin! I Called the Collection agency and they told me to contact First Franklin because we owe them $ 29, 000! I contacted Bank of america and they could not help me. They said loan contracts with First Franklin cannot be viewed until 8 weeks. Bank of America knows we need to pay our loan thru them every month and that is it they dont seem to care when i explained that i am in collections and I need to get an explaintion why i am in collections. All they were interested is when i am going to make my NOV PAYMENT so, I gave Bank of America my November payment. They told me they can't help me wiht the collection agency that is after me... until 8 weeks when they get our loan documents transferred over. I can't wait 8 weeks..this collection agency wants thier money. Very Weird...dont know what to do.
Like all of you i have fallen under the lies of these crooks and i was never late on payments until my father suffer a heart attack caused by stress of the pressure that first franklin was putting on every minute of our lives [censor] we could only watch how quickly our mortgage bills kept growing. they denied my request for a loan modification after almost two years of hard work and negotiation with them and they ignored my financial situation and my entire families frustration. Out of nowhere i was asked to refinance again as an in home modification and was approved within a month but it was all the same rip off again and again. I have currently found out that i was also a victim of a racial scandal where first franklin gave hispanics and Afro-Americans a higher interest rate violating our constitutional rights. It seems to be a never ending story and all i want is a roof under my family where i could grow old and see my two year old baby grow nothing more but it seems like not this or many of the dreams of many more hard working americans will ever come true in this life time. Despite the hardship and frustration i will never give up and keep fighting for my family hopping that our government realizes that United states will be destroyed along with the so call American dream that is in the trash for many of us while they they praise so much and put the needs and luxuries of this industries and banks over their people the Real Americas...
I thought I was the only one. First Franklin would not work with me in any way I tried to refinance and they wanted to have the house appraised for free, then I was charged $400. for the appraisal fee. Now BAC owns 1st Franklin. They are just as bad. They want me to pay them the appraisal fee that I already paid. They claim they can not check their records past August, that is when they too over. I was not informed until October. If they own 1st Franklin, why can't they check the records? Do they not have records from the company they took over? I think not. Now I'm trying to do my taxes and I can't. There is an $8000. difference in what I paid in interest in 2009 and what Bank of America has on the 1098 for 2010...how can that be? I know I paid more than $3000. in interest. There must be someone we can call. I can not believe that First Franklin/Bank of America can get away with this.
Hi I also have a mortgage with first franklin, and its an adjustable rate, they refinanced for me twice, but then when my business went under and I have not worked since then, they wont reduce my rate, in which is 8.125 percent, outrageous, they lost all my paperwork after over nighting it with post office, this went on for two years and they have switched my account over with two different servicing companys in two years, no one can help, my family are helping me, Im struggling, please help me with some advice, i really appreciate it thank you, not sure how these people sleep at night, they make me so angry,