Akron, Ohio

After initially contacting Flagsta(and that is not a typo)in November 2007 when I knew I would not be able to make the next mortgage payment, I was told Flagsta could not help me until I was at least 90 days in arrears. I inquired about making my payments every two weeks so as not to fall behind--not acceptable. I contacted them several times before the 90 days and was told the same thing every time.

All downhill from here on out. I contacted an attorney because after I submitted loss mitigation package several times and lost paperwork several times the foreclosure process began. The attorney gave me the option of bankruptcy as a last resort. A year later I had a sale date of November 7 2008.

We had reached an agreement with Flagsta the first of October 2008. They prepared the paperwork on October 21, 2008. I contacted them daily to check the status of when we would receive our workout package to stop the foreclosure on November 7. All I kept getting told was that it takes time as they are bogged down with so many files to process.

Guess what, we were sent the package (overnite) on October 31st 2008 (received on November 3, 2008 left on the doorstep) with a demand that we sign and return the documents along with our first payment of the workout program due October 29th. There's a catch here. A clause in the workout agreement stated that any payment even one day late would constitute the agreement null and void and immediate foreclosure would commence. With a sale date of November 7, I again contacted Flagsta and they told me that they would not consider the payment as late and to return the agreement (signed) with payment, and that they could stop the foreclosure on the actual sale date. This was NOT A GAMBLE I WAS WILLING TO TAKE.

Yes we are in bk limbo right now and are eligible for HAMP per the guidelines and are in round "22" of the process.

Product or Service Mentioned: Flagstar Bank Mortgage.

Do You Have Something To Say ?
Write a review


You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment

Yes - this is what happened to me as well. By the time they modified the loan - and made the 3 trial payments my REGULAR PAYMENTS (yes this was fraud, as trial payments should have been lower than regular payments)- I was forced into bankruptcy Chapter 13


Only sSuckers listen to 3 or 4 months till they can help, sSuckers are born every day!


You are an *** plain and simple, you talk with someone you don't even know who they are and your going to put your entire "FUTURE" on what advice they give you over the phone? You have all this INFORMATION at your finger tips and YOU don't even use it what is wrong with YOU, You think "flagSHAFT bank" is going to just help you?

Don't you do any research first before you act?

Pissed Consumer was just 5 spaces down from flagSHAFT bank site, would it not have been a good idea to see what other customers have gone through before you listened to sStupid, I guess sStupid is sStupid does! What happened to you is all your fault you could have been better equipped on what to do if you were not so easy.

Bahawalnagar, Punjab Province , Pakistan #198620


Our mortgage payment was not late nor had we been late on one payment during the course of the loan. After a death in the family, loss of tenants in first home, furlough days and then paycuts, we contacted Flagstar to inquiry about the programs under the "Bailout" we might qualify for. The agent told us we had to be 3 - 4 months behind on payment before we could discuss any options. The agent also told us we would be given a loan counselor to assist us.

So the decission was made to follow the advise of the agent. After 3 months we were given a packet to fill out, which we did and FedEx'd it to them 2 times. they claim they never received it. Actually, they state they never talked to us beyond the February conversations.

We were never assigned a loan counselor and our home went to auction without any of the 'bailout' programs ever being discussed with us.

We have not recourse at all.

You May Also Like