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advised that the article below remains on the site for informational purposes only and may contain information that is no longer current.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


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QUESTIONS

  • My home has recently been foreclosed on. I have a HELOC attached to the dwelling. Am I responsible for repaying this debt?
  • I agreed to purchase a home I believed was owned free and clear by the owner with owner financing. I later learned the owner did not own the home free and clear, and when costly repairs come up he refused to help defray the costs. Was I protected under the tenant landlord act and can he foreclose as he is threatening? I have already moved out and found a new place to live.
  • My home was forclosed on 2yrs ago after my real estate agent tried for 2 long years to short sale it.  Mortgager #1 denied all offers for the first 1.5yrs, while 2nd mortgager was agreeable.  Final offer was finally accepted by Mortgager #1 but 2nd mortgager completely blocked the sale by rejecting offer.  Now 2nd mortgager still sends me mortgage bills and calls me daily to try to collect this debt!  They also report my payment as LATE EVERY MONTH! Is there any way to get them to leave me be?  Do they have the legal right to harass me even though they are the reason I went through this foreclosure?
  • My home was to be foreclosed on 6/13/14 my husband and I filed for bankruptcy on 6/11/14 and advised Ocwen, our servicer and provided the case # to them, Ocwen in turn advised us that there would be NO foreclosure that they would put a hold on it. About a week after that we received notice of the foreclosure sale date having been moved up to 7/8/2014, I again called and they advised me that there was NO sale due to the bankruptcy filed, then in next 2 weeks I had people coming to change locks on my doors which didn't happen bur was advised that my home was now REO that it had been foreclosed.
  • Are the lenders able to work with you even if your only 1 month behind. they sent us a letter giving us a certain date to catch up and what would happen if this didn't occur.
  • my dad took out home loan in 2004 died 2007 never told mortage co i just kept paying the payment but fell behind on 2 payments mortage co wants 3000 or foreclose can they do that
  • 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?
  • Currently my home is not in foreclosure. I am behind in payments and the bank will not allow me to make partials. They are willing to reinstate the loan but I am unable to raise the 6 payments required. I have received default and letters of intent to accelerate. The bank is recommending a short sale. I want to work this out and I have saved 3 payments and I wish to stay in the home. We received a modification in 2012 and a special forbearance in 2013 I am back to work after being laid off in September and emergency surgery in December. Do I claim bankruptcy in order to save my home?
  • If a writ of eviction is issued after a foreclosure, must the new owner store the evicted person's goods, or are they put out on the street?
  • I AM CURRENTLY RENTING A HOME THAT WAS IN FORCLOSURE BEFORE I MOVED IN AND KNEW NOTHING ABOUT. I SIGNED A 18 MONTH LEASE AND AFTER JUST TWO MONTHS, I HAVE TO MOVE OUT. IS THERE SOME LEGAL RIGHTS THAT I HAVE TO RECOUPE SOME OF MY MOVING EXPENSES AND DEPOSIT?

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