First Franklin Loan Services Review
First Franklin Loan Services is a subprime mortgage servicer. We uncovered a website, phone numbers, and a huge number of complaints for First Franklin Loan Services. They were a heavy subprime mortgage lender using mortgage broker channels to sell the most aggressive loans in the marketplace.
First Franklin Loan Services Website and Phone Contacts
First Franklin Loan Services Website: http://www.ff.com/
First Franklin Loan Services Phone:
800-346-6437
800-464-8203
Address: 2150 North First Street , San Jose CA 95131
Other DBAs:
Home Loan Services Inc
PO Box 1836 (412)
150 Allegheny Center Mall
Pittsburgh, PA 15230-1838
Website: NA
Phone: (412) 442-5346
(412) 442-3640
(412) 918-7354
(724) 957-9043
Altegra Credit Company Loan Services
National City Loan Services
Nationpoint Loan Services
Nations Point Loan Services
First Universal Mortgage
First Franklin Loan Services Review
Since First Franklin Loan Services dealt primarily with their own subprime mortgages unless your state has passed laws restricting the foreclosure of such types of mortgages, you may find them unwilling, or at lease unmotivated, to modify your loan. Due the deluge of negative comments and BBB complaints, this company will get my worst rating of 1 Star.
If you are facing foreclosure you need information on exactly how to deal with these servicing companies to avoid foreclosure, click the link to learn more, Stop Your Foreclosure Now!.
It appears when I search for complaints against First Franklin Loan Services, there are many. Click to see all the First Franklin Loan Services complaints listed in Google.
BBB Activity on First Franklin Loan Services
“Based on BBB files, this company has an unsatisfactory record with the BBB due to failure to respond to a complaint.
The BBB processed a total of 55 complaints about this company in the last 36 months, our standard reporting period.”
See Comments Below to Add/Read Customer Opinions On First Franklin Loan Services
We would like to hear your experience with First Franklin Loan Services, so please put your comments and rating in the section below.
Thanks!
Author: The Mortgage Insider
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LOL Sylvia– Gee if these people were SO uncredit worthy than the better thing would have been NOT TO GIVE THEM CREDIT, but of course GREED stepped in, dollar signs before their eyes, great big chunks of change, passing palms at those closings, where unfeasibly high interest rates and what they’d ultimately do, stayed well HIDDEN, out of sight and out of mind. I didn’t get a variable rate, I got a fixed rate. I had income then that I have since lost, I had another adult here helping me to pay bills, who has since needed to move, because, being elderly the stairs here created a problem for them.
I am really upset that despite applying for a home mod, despite sending in documentation (and faxing it and resending it, over and over) that I still have NO FINALIZED LOAN DOCUMENTS grrrrrrrrrrrrrr.
And Sylvia, when you lose money YOU need to pay your bills, you will be the first one to sing a different tune. Shame on you coming here talking like that to distressed would be homekeepers, bet you didn’t bat an eye when the irresponsible bankers and their cronies got great big FAT billions, though, am I right?
First Franklin funded loans that nobody else would do so that the unqualified buyers with no real discernable income and BAD CREDIT and No Cash COULD BUY A HOME. Do you remember the joy you had on closing day? The feeling of happiness and luck and accomplishment. First Franklin and all the SUBPRIME lenders all made that happen. You had 3-5 five years to clean up your credit and get a refinance into a better loan. Rates for Fannie Mae and Freddie Mac have been extremely low for all these years. You signed the Note and Deed of Trust when you achieved your american dream, but apparently you Didn’t read it! Typical of these types of buyers who tend to be “D” or “F” students their whole lives. IT is well known that subprime borrowers tend to STAY subprime borrowers their whole lives.
Stop BLAMING the lender who gave you the opportunity to have what you thought you wanted. And look in the mirror.
TIME OUT!!!!! Speaking only for myself but I am sure many others will agree……. My husband and I put down nearly $50,000 on our loan which was more than the 20% they were asking. We were homeowners for 7 years prior to this loan. Our situation was only different because my husband had just changed careers and had no time on the job. Before you start assuming that everyone here is a complete moron you better think twice. We had no idea that this company was difficult to deal with. We had no idea that my husband would get layed off in this wonderful economy and that it would completely drain our savings account to stay in our home. Apparently you sought out this sight because you yourself have concerns with this company. Apparently we did something right because we qualified for the loan modification which we fought nearly a year to get. Next time before you open your mouth and insert your foot, stop and think about why you came to visit this site. Apparently you yourself are having some problems!!!!! Some people have all the nerve when not standing in someone elses shoes…
Can you please tell me how and what could or maybe the quickest way to get a modification thru First Franklin. I haven’t yet applied but would like to know the mistakes that could slow my modification down.
Many Thanks
Chris
Reply to Chris- There is no quick way to get a loan mod. First Franklin is months behind and it takes them at least 6-8 weeks to just respond after you apply for the mod. I tried it last year before my rate was scheduled to adjust. I applied in July and it was late September before anyone even called me. Then it dragged on for months and eventually was denied 3 times. I have applied again, sending them all the reqired info about 3 weeks ago and I don’t expect to hear from them for about another month yet if at all. Good Luck.
Hi Chris,
I got a loan modification through First Franklin and it took forever…however at this point it is all about MHA ( Making Homes Affordable Plan) and you’ll need to call customer service to apply for that…the initial phase is all verbal so call and get started. It isn’t like before when you had to wait through the backlog to get started. MHA isn’t what everyone expected but it is what it is at this point. Good luck
The paryt you have left out are the people who refinanced for reasons related to paying medical bills off.
Of course us folks who were getting 3 to 5 percent raises while the price for homes went up 9 percent are happy to be in homes. We would probably just as well been satisfied with renting while homes were not affordable with normal sstandards for living.
Giving somebody a loan that the payments increase 44 percent of the original terms when the person was getting 3 to 5 percent raises has added to the problem. Sure we are greatful during the teaser period and still during the tanked period where interest rates are low.
But what to do when escrow is applied incorrectly and payments are not credited correctly?
Surely there is some justification to assume D to F credit worthy people are given loans that are not repayble. Yes the owning a home is nice. rejection and price revisions would have been better for all.
Well Syvia,
Do you work for home loan services? Or First Franklin; whichever they seem to call themselves these days.
You certainly seem to be very judgmental about those of us here in the forum.
Not all of us, in fact, very few of us, signed for a home we did not think we could afford. We trusted the “bank” and the “broker” that they had a fiduciary responsibility to be honest with us and act on good faith. This is turned out not to be the case.
They wanted more and more mortgage loans to fund the mortgage backed securities they made more fees and return on. They did not care that the brokers were lying about the financials or the appraisals were inflated. The brokers wanted their fees and the banks wanted the mbs flow to continue.
Maybe you should read about all the criminal dealings Merrill lynch did while under the direction of Stanley O’Neal, then blame us…those of us that trusted the large well know “respected” name of a bank they thought simply approved them for a mortgage they qualified for.
You Sylvia are a poor excuse for a human being, casting your righteous stones our way.
You are what is wrong with America these days. Hopefully you are the minority
I hope you never fall victim to BAIT AND SWITCH TACTICS USED AT YOUR CLOSING TABLE. Signing a “fixed rate” mortgage loan, then switched with an ARM without you realizing it until you left.
Take care of your empty soul.
Maybe you shouldn’t put your foot in your mouth. D and F students? Peaple go to mortgage brokers, or used to, thinking they could trust them. Especially if it was a friend who was drinking the coolaid and beleived what they were selling. I had 700 plus score and one 30 day late in 5 years, and that was because I was in boot camp and someone was late on a payment for me. I qualified for a low 30 year fixed but took two crappy loans from this sham company because my FRIEND, at the time, advised it was better for me to take this. Now that I have done my research I know he made more money on me taking two loans and arms.I am a biologist and can tell you how to build a pond or lake from scratch, been self employed since 98 and have invented products that are exported. What have you done? I can tell you why a lake dies, but don’t any thing about conviluted loans. That is why people come to me for environmental advice and I go to a mortgage broker for a loan. I’m not a dead beat and neither are alot of these people here. I make tangible products, utilize other small companies here in the US and Canada and serve my country. That is what I see in the mirror. What about you?
I’m glad to see so many speaking up.
Passing judgment is not something to do lightly. You have no idea what each person’s personal situation is. As Jim said, most of us went through brokers, expecting a fair loan with an upstanding lender. We were working with GMAC, and they ended up placing our loan with First Franklin, apparently in order to to proceed to the scheduled closing date. Apparently the closing date was of more importance to them than the lender they placed our loan with. If they needed more time, the closing could have been reset. The broker chose to not go that route and we ended up with First Franklin. We were hoping for a fair lender, a good solid lender, a company that when you do fall on hard times and notify them immediately, are willing to help come up with a constructive method for dealing with the problem, not tell you to do the wrong thing, as in our case where they said we absolutely could not apply for a loan modification until we were in default. Big lie, very big lie. It didn’t have to reach this point. Perhaps that is how First Franklin deals with it, rather than work with the borrower who is struggling due to a personal hardship, just set them up for a foreclosure suit, because the day after we defaulted, they filed the papers. We have been going through this for 2 agonizing years. If foreclosure is what they wanted, then what is the point of dragging it out for 2 years?
Until you “walk a mile” in the shoes of each and every person in this terrible situation with this terrible predatory lender, I would highly suggest you withold judgment. Hard times can fall on anyone, even those who pass judgment.
I have taken the time to actually personally communicate with several First Franklin bowworers in foreclosure or who have already lost the battle and lost their homes. Some of their stories will just break your heart. It didn’t have to go that way. I don’t pass judgment on them.
Those of us who post here do so to get some guidence and support. We don’t come here to be insulted. Please refrain from further insults.
Thank you.
~ Evelyn
I would suggest that Sylvia’s’ condescending attitude is indicative of a lack of intelligence, why in the world would any person glean through “junk” on the internet to ponder such dribble unless they had a stake in the ground.and… who do you work for Sylvia
How is that hope and change working for YOU Sylvia ?
For many of us it is apparent hope is almost gone.there is no need to take a swipe at good people, they may be the very people who you will go to for your next job
what comes around goes around
Tom, you are my new hero!! Thanks for the great words!
~ Evelyn
Yes, some of us are blaming the lenders! We have learned a BIG lesson with the purchase of our current home when it comes to dealing with lenders….examine and approve the lender before signing loan docs. We had sold our previous home and had $60,000 to put down on our home and our lender on the day of signing loan docs talked us into keeping down and getting an 80/20 loan and said she would refinance within 3 yrs.
we did not know info on bank or reputation so we now see that our lender received big $$ for placing us in this loan, so yes we do blame lender for they knew exactly what they were up to = filling their own pockets.
Amen, Mary. Great words, too.
~ Evelyn
Hi Everyone:
All of your stories are of interest and interesting in this real estate mortgage world or fiasco depending on your POV. Most of what is said here carries so much truth, emotion, pain and suffering. However, I want to say there is some hope.
We also did a 100% finance thru NationPoint aka First Franklin, later bought by Merrill Lynch and recently purchased by Bank of America. We tried from Nov 2008 until June 2009 to get a modification due to a loss of income. We could get no answer and had to resubmit new docs i.e. pay stubs, mortgage statements, well you all know —over and over again.
Finally, we wrote to all the CEO’s of these firms: First Franklin/NationPoint, Merrill and B of A. We were just about to be in a 30 day late… but thru all those months we had depleted our savings and finally we fell into a 60 day late. A few of these offices did actually call us back.
Meanwhile, all those brokers were now collecting funds upfront to handle the stoppage of a foreclosure – almost with a guarantee. We were suspicious, but talked to them regularly trying to figure out what they were doing that we could do ourselves.
Most were telling us to stop paying our mortgage in order to give them their upfront fee… anywhere from $1500 to start and some as high as $4500. Something in your gut says, “don’t you smell something rotten”. Besides, their advice not to pay your mortgage was off the record.
We tried the organization called NACA because they can definitely stop a foreclosure, but we could not get any feedback regarding a modification – remember we were on time, but running out of money. Still, we truly feel sending those letters to the CEO’s and calling their offices, calling the various people in the modifications department, and just staying on them regularly finally resulted in a decent modification.
They cut the rate in 1/2 and reduced our payment by $1600 for 5 years. I tried everything I could to get a 30 year fixed, but to no avail. We qualify for one more modification – the life of the loan- you know. But, by then perhaps we will qualify for a 30 year fixed with a more reputable bank or mortgage firm.
We live on the Westside of LA – so you know the prices as well as the losses. An apartment in LA can almost be like paying a mortgage, so we did not care about being upside down; we just wanted to stay in our home. Prices will bounce back, but we feel it will be 4 to 5 years before this occurs.
Meanwhile, life goes on whether you fight to stay in your home or decide it is better to walk away. It is personal and thus can’t be judged from the outside. Most of it will depend on what you believe; what your convictions are and how strongly you act on it.
My best to all of you, but if you want to fight for it…do it. Make up your mind to see the result that will be best for you. Be civil, be gracious, and be firm!
Very well put…thanks for posting!
I have one word ” WOW”. Some truth – some exageration. But if any one thinks for a nano second it will be easy in a few years to get a mortgage at a reasonable interest rate needs to study basic economics. You may get a mortgage and a house might be a reasonable price but with what is going on – 20% interest will be a bargain. Think again and do some reading. Take your lemons and make lemonade or else make another plan.
Interest rates and the selling value for homes should continue to be low come several years down the road. Those who surrender their money pits now should be in good standing with their now knowledge and their dedication to not be fooled by immoral though not outlawed practices that currently hold people’s dreams and hopes down.
Jim,
Are you kidding you think Interest Rates will CONTINUE to be low??? There is no possible way that is true and the Fed is already begining to increase interest rates. Don’t mislead those that have already taken a fall. If we can’t be honest then how can you expect anyone to get out of this intact or at least not devestated
The logic behind low interest rates continues due to lower paying positions for the consumer economy. Also is the trend to bring in social engineering into account with fair business practices. Business has shown that it will steal, lie and deceive if there are not proper limitations on their actions. Also they have shown that they will raise interest rates on loans with whatever far-fetched and unrelated reason as with universal default tactics. Interest rates will remain moderate and businesses will be regulated so as to be more mirroring what is expected to be acceptable in society.
Most of us expect fair deals and desire not to be steered to higher loans with poor conditions. Nobody expected brokers / lenders to make false promises like “we’ll refinance in 6 months” and saddle somebody with a loan with a pre-payment rider for 2 years. This did not happen to me but it did happen to others.
I expected a fair and honest loan at a reasonable interest rate.
For those destined to lose their homes, I know that the knowledge of being ripped off by past lending practices will be positive for taking out future loans. There should be better limits to what is legally allowed to protect the newer cases of borrowers. Lenders will either get used to fair lending or be replaced by those who will lend according to those terms. The others will lend in lands that allow unfair lending practices as the USA is going to weed out.
People are losing property and there is little chance that current lenders will be helpful with loan restructuring.
Jim,
The “baked in, purposeful, boom bust cycle” some believe are actually “the design” and not some “unexpected” outcome the Fed actually directs rather than responds to…is becoming a more popular belief among thinking Americans.
I think your comment is maybe intimating your opinion is coming around to the same. I think you’ll see a “return to the status quo” in lending with very little control on mortgage lending other than the systematic demagoguing of mortgage brokers.
In other words, bankers will come out smelling like a rose…and they will end up owning a significant percentage of residential real estate(through foreclosure plus dragging their feet on loan mods) right before inflation takes off making it soooo much more valuable than it is today.
As you say, it this was indeed “the plan”, “there is little chance that current lenders will be helpful with loan restructuring.”
Unfortunately it is likely that not much will be added to lending standards to prevent intentionally misleading consumers into loans which are poorly structured as related to what the consumer can actually service. It is truly a design for getting real estate back cheaply and to rake in charges, lawyer fees and to come back on borrowers for deficiencies not raked in by the devalued properties.
Before you speak trash, you should consider how generalized your statements are and FALSE. I have a First Franklin loan and knowingly signed on the dotted line with my husband, realizing that the adjusted rates might increase (which they did, dramatically). I take personal responsibility for making a bad decision and being trapped in a bad loan now. HOWEVER, I resent being called stupid. I have NEVER been a D or F student. I am 49 years old and currently enrolled in college. I have already completed my first year on the Dean’s List and am a member of Phi Theta Kappa. My GPA is 4.0 and I am a member of MENSA. Don’t call people who are misinformed or make bad choices STUPID, it may be YOU who make a mistake in the future. Nobody is perfect, stop acting like a jerk.
Hi Tamara:
All I can say is Bravo… and thank you… good luck to you and yours.
~ Evelyn
I would agree that giving back the over mortgaged and lesser valued property is the best strategy.
Like was mentioned, it takes a few years but eventually you will be able to purchase a home at a reasonable value and have learned from the HLS crowd of unfair tactics though not outlawed tactics.
Hopefully known to fail concepts will be specifically disallowed by the new waive of regulating an disreputable entity like home loan lenders of present day and several years back.
We should never EVER have taken a loan with this greedy, unethical company. Our original interest only loan was set to modify to a higher, absolutely ridiculous rate after three years. We began the modification process to try to change those terms several months before the raise was set to take place. When we began, we had perfect credit and had never missed a payment to First Franklin. Now, a year later, our credit is completely destroyed and we are at their mercy. We gave them absolutely everything they requested in a timely manner and still, it has taken a year for them to come back to us with even more ridiculous terms. Would you believe that the modified rate they were planning to give us is 8.75%?? Are we are supposed to be excited about almost 9 percent? Our modified payment will be more that what we started with! What sort of modification is THAT? We are shocked and mystified as to how a company can be run this way. This entire process has taken its toll in so many ways. Now the principle balance of our home is higher than the purchase price AND the house itself is worth at least a hundred thousand less than that. We are good people and are perfectly willing to make reasonable payments for our home. Sadly, we may be forced to walk away and may never be able to qualify again.
your story is exactly like ours…but we are walking away. I can honestly tell you that walking away was the best thing we could have done. I understand our credit is destroyed but with time we will be able to buy again. The lawyers and financial advisors we have talked to said in about 3 years we will be able to qualify. I too live in LA, and our home was over 100k upside down. But this lovely company keeps postponing our sale date and at this rate it looks like they are never going to foreclose. We have moved out. Good luck.
Well our home was scheduled for auction and at last minute the date was changed. We did receive letter from First Franklin Loan Services* “What happened to Home Loan Services?” Anyway the letter states that we may qualify for new program “Home Affordable Mod. program”, we will be giving them a call and hopefully work a mod out that we can handle, seeing that my husband is now the only one working. **Lisa, what was the program which you modified your loan with?
Mary,
I hope the making homes affordable deal works in your situation. I was the only one with a job when we were entering foreclosure and then CH 13. It is tough to get through the times. I’m hopeful that you get in a better financial footing. The loan modification could help your family get back to a better situation.
Best of outcome for you,
Jim
I got the same letter and a week later they were requesting a new sale date, after canceling the sale – so I don’t really know what it all means, but it does seem to be their standard operating procedure – to keep us guessing constantly. We completed the application and faxed them the required documents 3 weeks ago and not a word from them since, just the new request for new sale date from their attorney. We call twice a week and they just say call back in 7 business days. They told us we would be contacted by a representative who only handles these Home Affordable applications, but no calls yet. Just to make sure we are all on the same page, I did send copies of their letter about the Home Affordable Program to the judge and to their attorney, as I am sure they did not. They keep playing both sides against the middle on this, and I just wanted all players to be on the same page.
I hope it works for you, but I have been through their carrot dangling before, only to have them yank it away.
I don’t know how they can seriously offer a federal program and at the same time be proceeding to sale. They want a sale date for not less than 20 days, not more than 35 days, and as with most federal programs, this may not be enough time for the application process. So what is the purpose of sending the letter? The fact that they have to because of the bailout BOA received? Is it really just a formailty and not a real offer to us specifically? And f they are so eager to proceed to sale – and why bother canceling the 9/15 sale date to begin with? Do they have any intention of processing the applications? Do they have an obligation to process the applications? I really don’t know.
Kind of makes me feel pretty skeptical.
Good luck, but if you decide to apply, please call them frequently.
~ Evelyn
Thanks for your update Evelyn. I guess the carrot on a stick tactic is too instilled within them.
I am hoping the MHA program gets mandated for loans with specific conditions. Someone passed on an article link which mentioned the stance the Mortgage Bankers Association and they feel it is hunting season on the homeowners. They want to thin the herd from the weaker so the stronger can take over the homes. What their goal is really is for the “strong” to be able to pick up the homes dirt cheap while the lenders can come back at the original homeowner for deficiencies and fees while the “strong” steal the homes.
Well, I guess that is why they call it “predatory lending”. It is not just about reeling borrowers in. Oh of course they get huge fees for new loans and all, but for them to then let the stronger take over in place of the weak, then to prey on the weak after the fact for the deficiency – for which they have already recovered from insurance – it is extremely predatory, and really should be considered criminal, but no one really cares about us.
We talked to First Franklin again yesterday. The story now is that what were were told on the previous calls since receiving the letter and submitting the application and supporting documents, that we would be assigned to a specialist on this program who would contact us in a week to 10 days to 2 weeks, is not true. My husband had the call on speaker phone, so I was able to over hear the rep, who was not quite as attentive or quite as “helpful” as the previous reps have been in recent weeks, but instead sounded clumsy and stammered a bit. I’m not sure if he was trying to regroup or maybe just new on the phones. Or maybe he had a supervisor next to him telling him what to say. At any rate, it was really not the same level of customer service we have had in the last few weeks. He did say that our application was handed off to the escrow department on 9/28 and that we should call back in a week to 10 days, to allow for them to finish with their portion of the application process. Like I said, this was contrary to what we were initially told.
In the mean time we keep checking to see if a new sale date has been assigned since their attorney requested a new date, because we don’t usually receive the approved order or notices until about 2 weeks after the fact. Thankfully, the county clerk’s office is really good about updating their site and we now have the ability to see it as soon as it is posted, so I have to check everyday.
I am still confused as to why they would be pursuing a sale date, while we are still in the application process for a federal program that they offered us. I assume they only receive the incentive fees upon successful modifications, so I can’t for the life of me understand why they would potentially be undermining the application process. Is it just whatever takes place first determines the outcome?
Thanks for your input Jim. As you can tell, I am very skeptical and suspicious of the whole thing. I can’t really afford to hope at this point.
~ Evelyn
We got the call from the person handling our application for the HOme Affordable Program today, finally. Looks like they will win again. They dangled that carrot one last time, we jumped for it and they yanked it away.
This person asked what we can afford to put down toward the Home Affordable Modification. Well, after reading the guidelines that states there are no fees associated with the mod, we were perplexed. The guidelinds also make no reference to a down payment. My husband told her maybe $5000 or less. She says that will not be enough for our particular situation. Says we are too far behind according to the program, by about 5 months. Which would date back to April, which was when this program was first launched, and according to First Franklin was when they atarted offering it – and we were with the peramiters.
We don’t have anymore to put down, so it looks as if we will not qualify.
I am very sad, all over again. I had been trying really hard to not get my hopes up, but somethimes your thoughts just runs away with you and, yes, I was getting hopeful, and I knew better.
So we will wait for the next call and probably put a final end to it and move on to the sale date.
What a shame.
~Evelyn
There is an action which will require servicer to choose the modification over foreclosure if the political do nothings actually get something accomplished. Why they presently try to foreclose instead of making workable loan modifications needs to be arrested. Forced modification is the only answer to solve the blockade servicers have against successful home ownership.
I look at the legislation as an improbable accomplishment but it is surely better than the present voluntary programs where guidelines are not even close to the original intent of MHA.
Sorry to have HLS dangle the false hope up again with lesser intentions.
Maybe the reason for the postponement is that they don’t have the title to present.
titles and backlogs
Please collect soda cans if you have to, go see a lawyer who knows real estate law It cost me $200.00 and relieved me a million worth
For me it is a done deal, my decision for many many reasons, is stay in the house UNTIL they “throw me out” .. the lawyer DID NOT suggest this, he only answered my questions, he did say that if that was my decision,
it may well be a long time before they could get a firm sale date
there is such a back log of foreclosures it may even longer to get a hearing date, he suggested, there may, or may not, be an opportunity for ME to make an offer They… do not want vacant properties, thus my plan is spend another $200.00 ask the lawyer to help ME draft a re-finance offer,they either accept it or they don’t
I am single 59 years old so no responsibilities except for myself,
…an interesting point.. I worked for a big trucking company for 17 years, they went “bankrupt” took my pension and 12000 of us were without a job in 1989, the general observation was “oh well sometimes big companies do that … now let you or I file for bankruptcy and we are scum oh my, how the world turns
take 4 hours off work and SEE a lawyer who knows real estate law
I modified my loan long before MHA was available – but from what I read I am glad I did…sorry – it was just whatever guidelines home loan services was working under about a year ago now.
MHA seems to be working for some – and hope it does for you – guess what I didn’t like hearing is it doesn’t really matter what your living expenses are and is totally based on your gross income!! Wish I could spend my gross income.
Anyhow, good luck
1st Franklin Franklin loan services is one of the worst mortgage company to have and you’ll be very sorry to have them. Good luck getting some kind of assistance with, even if you provided sufficient proof that you’re struggling. It took 1.5 years to review and then reject my request for a modification just because I have yet to fall behind on my payments. It doesn’t really seem like they want to help struggling, but responsible borrowers who have paid on time for several years. As soon as I can qualify for a refinance I will leave and will let everyone know that 1st Franklin sucks and I should’ve just let them foreclose my home since I’m sure that is their intentions!! Good luck to those who got this terrible and greedy company.
I am so sorry Journee for what this company has put you through. I almost wanted to say welcome to the rest of us that feel the same way for the same reasons, but it really sad what they have done. I know, you should ask Lisa. She is the only one here that has the right answers to get a success story out of them.
Its crazy how similar stories are of the jerking around, since I’ve been part of the shim sham since last November. I wish I had just stopped paying and left then. I am now being forced to rent my home and live with my girlfriend at a loss every month. The whole thing is insane. I am a slave to this crappy mortgage and fear of a forclosure ruining my chance of ever achieving my own american dream.