Foreclosure Article


Horne Issues National Mortgage Settlement Consumer Alert to Arizonans

*Please be advised that the article below remains on the site for informational purposes only and may contain information that is no longer current.


PHOENIX (Tuesday, April 24, 2012)  --  As the National Mortgage Settlement between Arizona and 48 other states, the federal government, and the country’s five largest residential mortgage loan servicers goes into effect, Arizona Attorney General Tom Horne is alerting Arizona consumers looking for mortgage relief to beware of scam artists.

“Consumers should be aware that scammers are already using the media coverage of the settlement to exploit homeowners by promising quicker assistance in obtaining the refinancing, principal reduction, or cash payments available to eligible consumers under the settlement,” Horne said. “If you receive an unsolicited contact regarding the mortgage settlement, you need to protect yourself.”

Attorney General Horne’s alert includes these tips:   

  • Beware of anyone who claims they can speed up the assistance you might be eligible for under the settlement for a fee.  You will not be charged a fee to obtain relief under the settlement.
  • Beware of anyone who calls claiming to be from your mortgage servicer or the government and asks to confirm personal or financial information to speed up your relief under the settlement.  Neither your bank nor the government will ever ask for your routing number, checking account number, or other financial information over the phone.
  • You may receive legitimate mail from your servicer regarding the settlement if your mortgage loan is serviced by Bank of America, JP Morgan Chase, Wells Fargo, Citi, or GMAC/Ally.  If you do receive a call or mail regarding the settlement, examine it closely to determine whether it is from the same entity you make your mortgage payments to.  Scammers often use company names very close to another company to confuse and deceive consumers.  (For example, instead of a letter from GMAC, you may receive a letter from GAMC).
  • If you are unsure whether a caller is legitimate, ask for the person's name and title and tell them you are going to call your bank and confirm.  Make sure to use the official contact information listed below, not a number the caller provides.
    • Bank of America: 877-488-7814
    • JP Morgan Chase: 866-372-6901
    • Wells Fargo: 800-288-3212
    • CitiBank: 866-272-4749
    • GMAC/Ally: 800-766-4622
  • If you are looking to refinance or get a loan modification, remember that it is against state and federal law to charge upfront fees for mortgage-related assistance in most cases.

Consumers who feel they have been a victim of mortgage fraud, or who would like to report consumer fraud, may file a consumer complaint with our Office.  To file a complaint online, consumers can visit:www.azag.gov/consumer/complaintform.html

For more information about the national mortgage settlement, visit www.azag.gov/consumer/foreclosure/settlement.html or contact the Attorney General’s Mortgage Settlement Team at 602-542-1797 or 1 (855) 256-2834 toll free or [email protected]

To find out if you are eligible for relief under the national mortgage settlement, contact your mortgage servicer at the number listed above, or a HUD-certified housing counselor.

Attached Document


Comments:

QUESTIONS

  • our home has foreclosed and we are threatened with lock out. how do we find out what court will handle the notifications?
  • I need advise and assistance. Have been working with ***Mortgage Servicer*** since 10/2011 to obtain a HAMP 1.0 Tier modification. I have filed for Chapter 11 protection in 4/12 to stop the foreclosure process and continue to work unsuccessfully with Mortgage Servicer. They have made my life so unbelievably stressful with their constant requests for duplicate information provided and 2 denials of the request based on incorrect information that I am spending hours proving their errors. Need assistance to further clarify the settlement terms of the AZ AG's office case and what can be done to help me obtain the HAMP

    (This question was edited by the site administrator to redact the proper name of an individual or business)

     

  • I am filing a foreclosure on an agreement for sale because of non payment for 5 months. Do I need to send a letter of intent to foreclosure and wait 60 days before filing with the court?
  • I am curious about the 90 day requirement to file a lawsuit for a deficiency on a foreclosed home. In my case, I had a purchase money loan and a second mortgage from the same lender. After the foreclosure, the lender has continued to keep the second mortgage in an "open" status. Is the lender barred from suing on the second mortgage past 90 days of foreclosure or do they have up to the 6 year AZ statute of limitations to sue?
  • I am leasing a house threw a management company and found out that the house is in foreclosure and an auction date has already been set. The way I found out is the attorney for the lender posted the notice on our door not by the management company. I had to let them know. Am I still suppose to pay them the lease payment?
  • My father passed away in September, 2016. I am the executor of his estate and I have a lawyer representing me and the estate. His house is paid off but he has a 7,000 home equity line of credit. There is no money in the estate to pay any bills except the utilities. It is for sale and hopefully will be sold soon. I received an Act 91 notice. Can a house be foreclosed on that is in probate? There is no money to pay the home equity line of credit bill or the taxes owed till the house is sold
  • AZ dept of Housing sent us to you to file a complaint against Bank and Mortgage Company (Proper business names redacted).  How do we mail or email our five page complaint to you? (Personal information redacted)
  • I owned a house in 2005- when everything boomed it was way overpriced and there was a 1st and a 2nd. I went through a divorce and lost the home as it was upside down. It went into foresclosure and I never heard another word. This now 2019 and I received a letter in the mail saying the 2nd mortgage wants to settle with me for $5000 on a $92,000 note from that house- that was 13 years ago! Can they even do that? My house was upside down and then foreclosed on and sold.
  • My house foreclosed and was sold at auction on 4/4. On 4/5 I spoke with the new owner and he said he would give me until 4/12 to vacate. Today 4/9 I recieved a Forcible Detainer request form in the mail. DO I need to be out by today?
  • I bought a house back when the housing market boomed and at the time had a decent job that can pay for the mortgage. A year and a half later my contract ended for the job and now can't afford the mortgage. I am wondering if it's possible to do a short sale with a good amount of savings in the bank? I have 2 mortgages with 2 different lenders. I just don't want to deplete my lifetime savings before I do a short sale. I haven't missed a payment.

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