Ditech

Ditech.com, which contributes a big share of General Motors' profits lately, has left a lot of angry consumers by the side of the road, including those below:

Andre of Miami Beach, FL July 1, 2009

Ditech froze my home equity credit line, despite the fact that I had consistently paid 800 a month when the minimum payment was only 329. After the freeze, I reduced my monthly payment to 500, still over 150 more than the minimum required payment.

They said that my material circumstances had changed, and that I needed to verify my income. This was clearly bogus, as I am and have been a university professor for six years and make 10% more than I did when I originally got the loan. I have no credit cards, and the only other credit accounts I have are student loans and an account with CareCredit for some dental work.

I verified my income. After which, they changed the reason for freezing my credit line, saying now that my FICO score had dropped. Admittedly, my FICO score may have dropped because of some student loan issues. But as I mentioned, I never ever missed a payment with Ditech, and always paid substantially more than the minimum payment. Besides, the circumstances show that it wasn't about my credit score or payment history or income. They are in financial jeopardy and don't have the money.

Thus, they lied, as my income was never the issue. They made it up as an excuse to freeze the account. If it was about the credit score, which they already had since they used it to freeze my account, then why did they ask me to verify my income? So they sent me on a wild goose chase for nothing.

The bottom line is, they don't have the money, and are in breach of their contract with me. There agents have also made several material misrepresentations, during the period I secured the loan and during this servicing process. This is obviously a pattern and ripe for a class action suit.

Damon of Wilmington, DE July 1, 2009

I previously applied for a mortgage with DiTech in 2006 and had no issues. I applied again with them in 2009. They assured me that they could close on my property within 30 days assuming I supplied them with all the necessary documentation. It has now been almost 45 days and we still have yet to close. They continuously ask me for the same documents that were already sent to them weeks ago (apparently they can't locate them). They scheduled an appraisal on my property which for some reason, did not get completed, and were not aware that their appraiser didn't complete it until I called 8 days later to check on the report. They then order it again and tell me it will be expedited (24 hours). 4 Four days later and it finally gets back to them. Today they call again and tell me they are "missing" documents and need me to resend to them which I do immediately. I rented my home out assuming that DiTech could close on the property within the 30 days. My tenant moved in after 42 days and I am now stuck living in a hotel waiting for these people to close on the property. When you call, you can never get an answer. The file is always being reviewed by someone.

Susan of Arvada, CO June 1, 2009

In November 2008, my husbands company had informed the employees that due to a merger of their company that there were going to be lay offs. We contacted both of our mortgage companies right away to let them know what was going on. Our 1st mortgage was wonderful, willing to work with us and try and help as much as they could. Ditech when contacted was rude and unwilling to accept any information. We ended up listing our home with a realitor to try and sell the home, but because the value of the home had dropped we had to offer a short sell option. Ditech again would not work with our realitors offers that were submitted. They kept asking for more and more money to settle the debt. Even though they were in 2nd position they would not take ANY offers making it VERY difficult to sell the house. My husband and I ended up having to move out of our home and relocate due to the lay off and have secured jobs again. However we are STILL trying to sell out home and are now running out of time. We are 3 days before the sell date for Foreclosure and still they will not accept any offers that have been made. They keep asking for so much money that there is no way that a buyer can pay for it. You would think they would be willing to take something rather than nothing if it goes to foreclosure. It is not that the offers are bad, but they will not even budge on what they will accept. They want all or NOTHING! They are forcing us to end up filing bankruptcy to even have a chance of a normal life again. There is no way that we can even salvage any type of agreement with them. NEVER again will I EVER finance ANYTHING with this company!

Barbra of Paramount, CA June 10, 2009

I have been with Ditech for about 11 years.Never been late.In July 08 I had left knee replacement surgery.I was off from work from July 08 until Jan 09.I did received disability of 1660 a month.My mortgage is 1479 a month.In Jan 09 I went back to work for 1 month and was told I need to go back on disability because I"m not able to sit in front of the customer.The company said it doesn't look professional.

I apply to Ditech for a loan modification in Feb 09.They claimed I nEVER call them back.In March 09 I apply again for a loan mod.Paper were mailed to me and I did what they told me.Fill out the hardship letter,financial papers,proof of disability payments that I would receive.Ditech verify that they receive all the information needed for my loan mod and says it would take approx 45 to 60 days.I called them in April because I receive another packet of loan mod papers.I call Ditech to ask them why did I receive another packet.The gentleman said to disregard the packet.I waited until May and called Ditech to find out the status of the loan.I was told previously it would be around May 18,09.

I called on May 20 and the lady kept me on hold for 35 minutes.Finally she said that usually she wouldn't transfer me to the loan mitigation dept but under the circumstance I needed to talk to them.The gentleman told me that the loan mod papers that I send in was not the ones approved by Obama and that they sent me the right one.I told Ditech that I called when I received the second set of paperwork and was told to disregard the paperwork.

Then the jerk told me I would have to start all over again.I ask them when I call to find out about the status of the paperwork why no one told me about the wrong paperwork.NO ANSWER.THAT WAS ON MAY 22,09.AS OF THIS DAY JUNE 9,09 NO PAPERWORK HAVE BEEN MAILED TO ME.

Phyllis of middletown, NY May 8, 2009

I applied for morgage modification, which i was told when appling if i didn't like it i didn't have to change. well they decided the best plan for me was to hold an escrow acct. this is not what i wanted, i called and said i didn't want the modification, long story short they did it anyway, i went from 913.46 a month the 1359.08 which would be impossible for me. So i now begin the process of undoing what they did, only to find out that they paid my home owners which i pay bi yearly, and they paid in full so now i have to pay ditech back 824.00 in order to go back to the original 913.46 for june or else pay the 1359.08 and I have to do it in 5 days for a work order. how can they change something that i have not sign a new contract for. the woman carmella (sup ) said we can because we hold the lien.

Fairlane of Chicago, IL March 26, 2009

I agreed to a mortgage with Ditech back in late 2005. During the closing process I directed them by e-mail to escrow money for local propety taxes. They did not do this and thus my taxes were underfunded. Now they have decided on their own to pay the taxes and have increased my payment well beyond what is needed to do this. I contact the children at the call center to complain - sometimes as many as 6 different little girls and INVARIABLY they all tell me a different story including flat out lies. I make sure each conversation is taped and I take detailed notes.

Susan of Haslett, MI March 24, 2009

March 24, 2009: I started the process for a refinance to pay off credit cards over 2 months ago, the people involved do not call back, even the supervisior doesn't call back and they do not return emails. The only word that I have heard it that It is at the Underwriter's, but no date. Meanwhile I have had 2 appraisals and Ditech's deal is that if you stop the process you pay for the appraisals which is arond 500.00 I am to the point where I think I have to lose thew 500 and go to another company.

My car lease is up and due to high credit card debt which I was going to pay off with a new mortgage, I cannot get a car loan. I have income and money in a retirement account and equity in my home - but still I am in this position due to Ditech. I am now thinking that they never intended to give me a mortgage and simply collect the appraiser's fee of 500.00

I am unable to obtain a lease car or a loan to buy a car. My payments are so high, I hardly have enough to eat - medical service is out entirely, no money for doctors or medicine - I am 67 years old.

Gerald of Rosemont, IL March 21, 2009

My home equity credit line of 200,000 (which I had not yet used and had paid the annual fee for since 2006) was completely frozen. Ditech sent me a letter saying it was due to generally declining home values in my area and had nothing to do with anything wrong that I had done. They then required that I pay for an appraisal AT MY EXPENSE by one of 2 companies that they required do the appraisal. The cost for this appraisal is approx 500.

I refused to pay for this but wanted the credit line reopened, and sent a letter to DiTech offering for them to pay for the appraisal, but of course they refused. After all, what is to keep them from requesting another appraisal at my cost in 6 more months? Or 6 weeks? I never agreed to this in my loan documentation! DiTech has illegally frozen my line of credit and they have no legitimate source to claim that my home has declined in value by enough to completely freeze my heloc.

I am unable to take advantage of business opportunities in this economy. My plan was to use this home equity line to purchase foreclosure or other distressed properties, or to improve a rental property I currently own. I am unable to do so as a reult of DiTech's illegal freezing of my credit line.

Albert I Delgado of Phoenix, AZ February 23, 2009

On 12-30-08 @3.25pm I contacted ditech to see if I could reduce my interest rate to what I had just seen on one of their tv add 5.12% a rep for ditech named Marchelo said that the only way was to refi my home and combine their loan together. I told him that the home loan would be paid in off in 12 years. Why would I want to get into a bigger mess and refi to a higher loan rate? I just whanted to get their advertisement rate, 1 hour later I was so frustrated and got no response.

I'v tried to pay off my acct for 2 months, everytime I call to get, the payoff amount they let me know it the total was 35,732.75 I sent a chec for that amount. Next letter said you owe us 238.30 so I sent the 238.30 next letter said you still owe 11.58. I called to find out why I still owe 11.58 I got nowhere and no supervisor to speak to. I left a message with a rep and still no one has called. just wanted to let you know that [they] have lousy service and I never want to do business with company ever. and I will let family and friends do the same.

frustration to the max. wasted time without any actual satisfaction of any kind with my account. two of the most miserable hours talking to people that dont even know English. I bet they are hired out of the USA cause they need to take all of our jobs from the American people. have incompetant people working there.

Scott of Riverside, CA February 21, 2009

just received mass mailed letter from ditech informing me they have frozen my 100,000 credit line to protect me! i have 80,000 equity still in my home. i now have to requalify and pay for an apraisal for them to see if they will unfreeze my line of credit.i never had a late payment with them or any of my creditors. my fico was 830 until these ass holes froze my credit line. this same company just went begging to washington for a 5 billion loan.i will now do a refinance just to get rid of this company. it will cost me thousands of dollars but i rid my self of a company that from the time i got my loan 2 years ago has been nothing but incompetent. the american consumer is getting a royal screwing from banks,credit card companies,wall street,and washington.i warn you do not use ditech!

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