Complain about a product or service

Option One Mortgage Corp.

Irvine, CA

H&R Block • Charges • Electronic Filing • Errors • "Free" Filing • Online • Refund Anticipation Loans • Taxcut • Option One Mortgage Corp. -- News • American Home Mortgage Servicing Agrees To 8200 Modifications • Massachusetts Court Stops H&R Block, Option One Foreclosures • Massachusetts Blocks H&R Block, Option One Foreclosures • New York Stops H&R Block's Deceptive Sweepstakes Ads • California Sues H&R Block • H&R Block Sells Subprime Mortgage Unit • H&R Block Launching Its Bank • H&R Block Threatened Employees, Spitzer Charges • H&R Block Settles Tax Refund Loan Suit • H&R Block Readies New Bank as Business Soars • NY Accuses H&R Block of IRA Marketing Fraud • H&R Block Goofs on Its Own Taxes • Children's Defense Fund: Tax Refund Loans "Indefensible" • California Sues H&R Block Over Its "Instant Refund" Loans • H&R Block Doesn't Block Identity Theft • H&R Block Will Settle More Payday Loan Suits • Option One Agrees to Clean Up Its Lending Practices in PA • H&R Blocked: Consumer Groups Oppose Tax Giant's Proposed Bank • Tentative Settlement in Tax Loan Class Action • Class Action Challenges Electronic Filing Fee • Supreme Court Rejects Block Appeal in Class Action • Judge Upholds Racketeering Complaints Against H&R Block, Household • Court Clears Class-Action Suit • Tax Loans Victimize Consumers --- • All About HSBC

Jodi of Galt, CA January 27, 2009

Jodi of Galt CA (01/27/09)
my husband was killed in a car accident on june 15th , 2007. I tried to sell our home but no one would buy it... The payment and taxes were way to much for me to handle... I tried to do a deed in lieu with them. I had faxed over 5xs, and 80 pages. I had to pay for this... I was rejected each time.

They told me the title wasn't clear ( my dead husband was on title). I went to court and got him off and that cost me some money.... Then I had to fax all the papers again , they still rejected it.... I was so stressed out, crying all the time, I also lost 25 pds. I had lost my mom, sister and husband all in 9 months. Lost my home and had to move 2x's.... I would get calls from these people , and they wouldn't even know what was going on with my situation and each time I had to explain about my husband's car accident.

It got so bad I had to go on anti-depressents....I finally gave up and told them to do what ever they wanted because they didn't want to listen to me....I had a lady who wanted to buy the house on a short sale but they took so long in getting back to my real estate agent, the lady backed out.

I ended up in the hospital a few months later with high blood pressure. They had a Indian office and no one understood anything I said. It was so ,so stessful. I lost my husband , home, and my excellent credit... I wamted to work with them but they were so difficult to understand and deal with...what could have turned out easier and better for both of us, turned into a night mare....

Dana of Marblehead, MA January 15, 2009

Dana of Marblehead MA (01/15/09)
Being brief. I lost my home but thanks to an individual who took over the home came out with only the home loss. Abusive, threatening, nasty, harassing, etc etc. all cover their actions. After an attorney took over our unanswered request for a payoff number, we finally succumbed to a rescue. They were dishonest in many respects, even on the payoff amount. Resolution only occurred when our friend attorney finally spoke with their cprp. attorney. Need to know if class action against Option One or their boss H.R.Block is a reality. More detail can be offered especially when they make you go to another state to close......legal? Who knows.

Lost the house

Lucy of Alexandria, LA January 8, 2009

Lucy of Alexandria LA (01/08/09)
My home financed with this company more than 10 years. In late 2005, had a problem with line of credit mortgage with another company. Had more than enought equity in the property to pay the line of credit. Worked with their Texas office and was approved for 90 percent of the value of the home (other company filed notice of seizure and would not provide pay off). Option One loan office advised me to file chapter 13 bankruptcy to save the property (I did so). Shortly after filing, Option One stopped drafting my payments and did not inform me. They filed a claim with the bankruptcy (raising the amount I was paying to almost more than I made) and failed to complete the claim, so the extra money went to the other company. Option One filed a notice of seizure saying you're out of bankruptcy. I am still in the bankruptcy trying to save the home.

This company's staff was extremely rude and seemed bent on taking the property. They apparently got with the other company and convined them to drop their claim and they filed for notice of seizure. They gave me a deadline date to come up with in excess of 20,000 to reinstate the loan - they took one payment from me and refused to take anymore. No one should have to be treated they way their staff did me. Although dealing with people with broken english, the nastiness was evident. I am still trying to save the property that I invested in since 1991. I was never late on my payments and opted to have them drafted to alleviate writing checks. I was told by the Texas loan officer that I was one of their best customers; however, the california loan office treated me like dirt. I would not advise people to do business with company. It was not my fault that they did not know how to complete a claim that cost me additional money. I vested 17 years in this property.

In the process of becoming homeless because of the non-professionalism and rudeness of the staff at this company. Economically, I am losing everything I worked for because of the unprofessional and nastiness of this company's staff. They did not try to help me. I was able to make the note and the bankruptcy payment, but the company has caused me to lose everything. Physically, this has taken a tremendous toll on me. I can't even file a claim against this company for their bad business ethics.

Shawanda of Elizabeth, NJ January 5, 2009

Shawanda of Elizabeth NJ (01/05/09)
I've literally spent the day reading this message board regarding Option One Mortgage and their buisness practices.

I like many of the complaintants went through a horrible ordeal with this company. I obtained my mortgage from them back in 2005. At the time I was told that I only qualified for a subprime mortgage and that I would be able to refinance after making payments on time for 6 months.

After making payment for 6 months I tried to refinace my mortgage. Only I ran into an issue as someone had stolen my identity and racked up thousands in medical bills for their child. It took me months to get that siutation straightend out.

During this time I lost an income stream in my home and was struggling to make the payments but I did and they were on time. As each month went by it became harder and harder to pay the mortgage so I reached out to Option One and discussed my fiancial situation with them at which point a rep told me they could modify the mortgage from 8.8% to 6.5% and it would drop my payments by 400.00 a month. They stated all I had to do was write a hardship letter and send in my pay stubs and they would begin the modifcation process and that it would take two weeks to complete. Two weeks passed and I didn't hear back.

I called and they told me that the modfication was approved for the 6.5% and that the paper work was on it's way from UPS. When I received the package, I was appalled at what I read. Not only did they take my mortgage and drop it from a 40 to a 30 year. They kept the interest rate at 8.8% and since the terms of the loan changed the payment incresed by 400. Mind you, I just told them I was struggling to pay the mortgage at the cost that it was. What makes you think I can afford 400 more. When I called and confronted them about it. They simply told me, we promised you nothing and the investor rejected the modification. When I asked them to let me know who the investor was I was bounced around and nobody could provide and answer.

Keeping in mind I still have not missed a payment. When I called back and told them that the agreement sent was in no way shape or form what we discussed, they simply told me well you dont have to accept it. So I told them that I would't because it was a bait and switch. They also informed me that regardless of the housing act that was passed by the Bush administration they would not freeze my rate either. I wasn't behind on my payments but I knew coming into the following month that would change. I had already maxed out my credit cards and run through my savings paying the mortgage. At this point I only had one course of action to take. That was to get them before they got me. I had a bad feeling about what they did and I knew thats wasn't the end.

In January I received a call from their Indian credit department stating I had not paid my rent and that I was going to get foreclosed on and it would go on my credit. I went on to inform them that if they had not received payment that was their problem considering they debit it out of my account directly every month. NO WAY was that error on my end. I called my bank with Option One on the phone and informed them that they did indeed take the payment.

I finally spoke with someone in the states who realized the error and told me that they mailed my mortgage back to me because I was undergoing a modification and if I didn't pay them I would be reported. So I had to wait for them to send what I paid then they expeceted me to pay the delinquent amount that they rejected. I told them ABSOLUTELY NOT. When I receive the check back from you that you rejected I would send it back and that was that.

At this point, I was so stressed out by what they had done and were continuing to do. I had lost weight, my hair was falling out and I was having anxiety attacks. Them rejecting my mortgage payment and sending it back to me was the best thing they could have done. At that point, I knew I had no other options but to find another place to live before they destroyed my credit. When I received my 2,000 mortgage payment back from them, I took that money and used it as a deposit to rent a condo and walked away from the property before they destroyed my credit history. This was my first homebuying experience and what I thought to be the American Dream turned out to be the American Nightmare.

I too would like to know if a class action lawsuit is filed. I would give anything to have my day in court with this predatory lending institution.

I feel like the Government is going out of their way to protect these financial institutions that have duped millions of people out of their life savings and tons of money. What about our right????? who's fighting for us?

Cindy of Bridgeville, PA January 5, 2009

Cindy of Bridgeville PA (01/05/09)
Things were okay until we were victims of credit identity theft. We struggled because of this for a couple of months. After straightening things out and sending them copies of the police report, they would not accept our 3 months of payments. All of a sudden they wanted a lot more. Through this, they had our tax info sent right to them, so our taxes went into escrow. They also kept charging us 1300 for home insurance when we always carried our own and sent them copies of our State Farm policies. State Farm sent them as well. They would always say we never got anything and continue to charge us the 1300 and put that into our escrow. They made our catching up unreachable.

We went to one of those we can save your home. After paying the 2800 and help from the Attorney General, we found out they were scams. So, our only savior at the time was to seek an attorney. Because of what happened with us prior, I talked to several people, and thought I acquired a good reference. The attorney put us in chapter 13 bankruptcy to save our house. We never missed a payment! 3 1/2 years into it, he told us he was getting us out of bankruptcy since we were paying great. He told us to just continue to make our payments just as we had prior to the bankruptcy. Well, the sheriff came with a foreclosure notice. I called the attorney, and he said I knew this could of happened, but I didn't think they would do it.

All along, I tried relentlessly to get Option One to do a modification; each time I called, they gave me different, ridiculous figures. Like when I called on a Friday, they gave me one amount. Then when I called that Monday, they gave me a figure 5,000 more. How could that happen over 2 days. By the time we got to the last attorney, there really was no help to be had. Option One wanted 176,000 for our 72,000 home. We lived here for 18 years - did a lot of work on it....

There is a lot more details, a lot more headaches, sleepless nights, etc. I must have logged thousands of hours in phone calls & letters. I wrote to the Attorney General, the banking industries, senators. They put the heat on Option One. Option One stated in their response to them we will do everything we can to help them. They waited till the smoke settled and then sent the sheriff to serve our papers. Our house was sold back to Option One for 12,900 last Nov.

The day before Christmas Eve the Sheriff came with our vacate the premises papers. It was very difficult to keep a happy face so that our 3 children had a Merry Christmas. I am so sick and distraught over all of this and in the end, there is no help. I have to start over and find a home to rent. I cannot tell you the emotionally difficulty this has placed, the sickness, heartache, depression. I feel bad for everyone going through this as we are. I know there are a lot of us out there!

Besides the depression, we need to walk away from our home after 18 years with nothing. It's sad what these Mortgage Companies can get away with!

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Share		Follow us on Twitter.

Back to the top |