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Home » Companies » Mortgage Companies
Central Mortgage Company
Checked Better Business Bureau: No
Better Business Bureau Issues
As of 8/13/07 - from the BBB website:
"The Bureau processed a total of 16 complaints about this company in the last 36 months."
Central Mortgage Company's Contact Information
|Web Site:
|801 John Barrow Rd
Suite 1
Little Rock AR 72205
Reader Comments & Ratings
Average Rating: (1.6/5)
by Cedonulli From Portland, OR on November 19, 2014
This is a nutshell of FIVE years fighting them. First, they liaed to me and said I had to be 2 payments behind to do a loan mod. I stopped payments. They then gave me paperwork for a mod and that started over a year of endless lies, subterfuge, missing documerts etc before they filed foreclosure on me. We BEAT them in court and they backed down from the suit, not wanting to push it farther and maybe lose the house to us. 3 years of more mod attempts were made. 9 months ago they filed JUDICIAL FORECLOSURE on us, which is also a remedy in this state. We cited new state laws regarding the loan mod process and this time they let us submit then APPROVED US. But wait--not all was rosey. I have a second loan and a judgement on title. I asked if those could harm the laon mod and twice they told me no. They LIED After making 4 months 'trial payments' at $1,333 each, they said the second had to subordinate and the judgement had to be paid off. That cant happen, so now they are going to stop the mod and continue with the judicial foreclosure. My family will be out in the cold. CENTRAL LIES. Who wants in on a class action suit?
by Bobbie Lea Perry From Chattanooga, TN on March 13, 2014
I approached CMC to redo my mortgage under HARP, for which I was qualified according to what I had researched. They told me that I was not, but that they would do a "loan modification" which should lower my monthly payment and interest. I would have to pay the "modified installment" for three months for it to be approved. What the DID NOT TELL ME was that while I was making the modified payments (only $130 less than the regular mortgage), they were reporting to credit bureaus that I WAS NOT MAKING ANY MORTGAGE. At the time the modification trial date was over, I get a letter from CMC stating that I was behind in my mortgage by four months, plus late fees!!!! If I cannot get this corrected, my credit will be officially ruined. I am 60 years old, recently fought cancer (whild dealing with CMC for loan refinance), and I fear, won't be able to recoup from this predatory scheme. If your lender sells your mortgage to Central Mortgage Company, RUN, do not walk, to the nearest bank -- any bank!-- and beg them for a refinance!! This company should not be allowed to do business in this country OR anywhere! The only thing you can count on with Central Mortgage Company is that everything they tell you is a lie and their intention is to ruin your credit and seize your property. Do Not Go There!
by Becky Arce From San Diego, CA on January 02, 2014
Dishonest & Unreasonable.
by Nathan From Missouri Valley, IA on November 23, 2013
When we attempted to apply for a government loan refinance program they held our paperwork for months and then the day before Thanksgiving they sent a request for more documentation due in two days or they'd drop our request. I wonder how many other homeowners they cheated this way.
by amy stoll From Cincinnati, OH on July 31, 2013
im supposed to have a set rate but everytime I get paid up they raise my payment.
by Juan m Cruz From Fort Myers, FL on July 19, 2013
Forced into foreclosure would not accept any payments cause they were late while I was fighting cancer in hospital horrible company also involved in fraud with Taylor bean Whitaker of course small people lose
by Joe From Branford, CT on March 24, 2013
Central Mortgage has been lying to me telling me that by law they cannot refinance or lower my interest rate in CT for over 2 years now. Finally I called the State Attorneys office and they said by law they had to do a loan modification. This was never offered and was told can't be done. This company is a SCAM!!! I know there are others other there CLASS ACTION LAW SUIT need to be taken against this company. Has anyone started anything like this
by Anonymous From San Diego, CA on January 24, 2013
Been trying to short sale for 6 months. Have had to submit paperwork repeatedly. The Negotiator is in contact with my realtor, but then they call me and say that haven't received any paperwork for 4 months. We have submitted paperwork as recently as 2 days ago! Their customer service is no help. I said, fine just foreclose, and they said, "Ok" It doesn't concern them at all. You would think that it would be in the best interest of ALL parties to short sale. I think they can write off the loss no matter what, so what do they care if they foreclose. Except for the fact that it costs them more money due to REO being worth less and they have to pay to market it. Why not just let me sell it and be done with it. They SUCK.
by Anonymous From Seal Beach, CA on January 10, 2013
CENTRAL MORTGAGE COMPANY IS HORRIBLE Have tried to modify my mortgage 4 times they denied me even though state agencies tell me I show enough income, and our hardship was great, our business has recovered and we just need them to give us this mod, but they site ridiculous excuses.
by K From Oakdale, CA on December 19, 2012
This Company needs to be taken down. They still think they are above the Real Estate Laws. My home has been taken by these people fraudulently. I have DOCS that prove they wrongfully foreclosed and refused to help me. I was even told They were going to take my home before the loan Defaulted. I defaulted under a secere HARDSHIP that even RECOGNIZED. Then they refused to do a Principal Reduction and told me even if they did do it that it wouldn't lower my Mortgage Payment. They Also agreed that I had an UNDERWATER Mortgage but refused to do the Principal Reduction anyway. I am looking to sue. STAY AWAY FROM THIS COMPANY or get your loan away from them ASAP
by Anonymous From Onia, AR on December 05, 2012
company screws up my escrow account every year and then wants to increase my house payment, truly a bunch of idiots running this company.
by Anonymous From Kenosha, WI on December 05, 2012
They are the worst. They escrowed $20000 on to my account and want it back in 12 months. They raised my mortgage from $600 to $2500 a month. now they wont except payments because I was late 6 times. They want to foreclose on me for $1300. It is sad when you have to beg them to take your money and they won't. It is obvious that they want my home. I have a MERS loan. Can anybody give me advise? Email me please.
by Anonymous From Gaffney, SC on September 14, 2012
I think that my mortgage company is only out for the almighty dollar and to heck with everything and everyone else. They have no compassion and aren't willing to do anything to help their customers. I have never felt so alone and offended. I have read many frightening reviews about my mortgage company that make me feel that they are underhanded and will do anything to get out of helping their customers to succeed at keeping their homes. I am tired of getting the run around and also am tired of being talked to and treated like I'm nothing. This company is completely rude and heartless.
by Benjamin Jones From Gaffney, SC on September 14, 2012
I think that my mortgage company is only out for the almighty dollar and to heck with everything and everyone else. They have no compassion and aren't willing to do anything to help their customers. I have never felt so alone and offended. I have read many frightening reviews about my mortgage company that make me feel that they are underhanded and will do anything to get out of helping their customers to succeed at keeping their homes. I am tired of getting the run around and also am tired of being talked to and treated like I'm nothing. This company is completely rude and heartless.
by Anonymous From Chicago, IL on September 12, 2012
BUYER BEWARE!! My loan was sold to this company by Lending Tree. I have been jerked around by these people for almost two years now. Never the same person handling your account from week to week, Caleb was the worst! Currently no one in the foreclosure depart seems to know what they're doing and are not capable of giving you a straight answer. Worst customer service ever, totally incompetent. Extremely poor internal communication and organization as well. Took almost a year to get a loan modified and then it was only $50 less a month for a three month trial period. But here's the catch... if I could maintain this $50 less a month payment, I would owe them a $500 service fee at the end of the three month trial. Really? Seems to me that's paying $500 to "save" $150, right? I don't think they even try to help people who have fallen on hard times, they're out to take you down instead.
by Anonymous From Long Island City, NY on September 08, 2012
Central Mortgage Company, are crap, should be investigated by the Bank Department and especially by the FBI.
by sandra powell From Upper Marlboro, MD on August 26, 2012
Very poor service and definitely not willing to work with me, offering me a modification of not even $200 less from my regular payment (how is 200 going to help on a 3,400 mortgage payment?) they knew a couldn't afford, later they offered me a forbearance for two months and later my payments would go up again, I had no other choice to take whatever they offered to keep me from going to foreclose later rather that sooner.
by Lilian From American Canyon, CA on July 05, 2012
I have an interest only loan. I was trying to get a loan modification from Central Mortgage Co. due to my current hardship. The company denied it on the basis that I have assets (my retirement saving ) to pay for the mortgage.
by Eric From Glendale, AZ on April 28, 2012
Flagstar sold my mortgage to this company. Since then Central Mortgage Company keeps adding force placed insurance and attempting to increase my payment. Requires hours to fight this and prove that I already have insurance. I will be finding appropriate places to report this unethical company.
by J M From East Elmhurst, NY on April 02, 2012
clearly the worst bank institution I ever encounter...i filed a complaint with the OCC and everyone should do the same.
by Rob From Glendale, AZ on March 22, 2012
Turned down for harp 2.0 because Central Mortgage dinged our credit the entire time they supposedly put us in forbearance. forbearance shouldn't do this to your credit. Now the our loan which is owned by Fannie Mae and Fannie Mae agreed to the forbearance is now disqualifying us because of the forbearance. nice
by Pasadena Pal From Pasadena, CA on March 09, 2012
This company is the very definition of predator. They are the worst in service, responsiveness and will do whatever they need to do to get your home. Disgusting practices.
by Anonymous From Arlington, VA on March 06, 2012
I agree with all of the other respondents. My loan was sold to these lowlifes as well. I tried modifying my loan when I fell into financial difficulties. I even hired a company to help which was a total waste of money. I have been waiting to hear something for over a year. Needless to say, the loan amount is much higher than the value on the condo. I had a 5-year ARM where the payment would adjust too high for me to make those payments. I refinanced at a lower rate with Quicken Loans and lo and behold I inherited CMC. What a horrible experience. The stress has been terrible waiting to hear what will happen. When I tried to make the minimum payment allowed by the ARM the payment was returned to my bank. So, I waited again. All I want is a reasonable payment so I can keep my home, but that may not be possible. What a horrible mess.
by Lordrobot From Fort Lauderdale, FL on March 03, 2012
When dealing with these aholes the most important thing you must know is what kind of state you are in, a recourse or non-recourse state. If you are in a non-recourse state like CA you are lucky. CMC will deal with you and help you with a short sale. If you are in a recourse state like Florida, you are dead meat. CMC will string you along but in the end they will hit you with a deficiency judgment for the full cost of your property as if a real estate bubble and collapse never happened. So in a Recourse state the best plan is to declare bankruptcy before a foreclosure occurs. That will drag them through the mill for a long time and quite paying your mortgage. Hang them out to dry because if you don't they will hang you out to dry. All they use a short sale for in Florida is to collect financial data from you so they can attach your property when they get a default judgment. In a recourse state they never have any intent to let you off the hook and they never negotiate new terms in good faith because they don't have to. They can and will nail you in a recourse state. The opposite is true in a non-recourse state because the property is all they will ever get and NOTHING MORE! Extreme caution with this predator company.
by Anonymous From Hampton, GA on March 01, 2012
Would rather not say anything about my mortgage company.
by K. From Redwood City, CA on February 09, 2012
After months and months of sending paper everywhere, I was approved for help through Keep your home California. Keep Your Home California even sent the first payment to CMC, which SENT IT BACK! CMC says I can't get help from Keep Your Home California because I'm on a repayment plan (although they okayed it, knowing I was on a repayment plan). So I had to stop the repayment plan and re-apply, at which point they sent me a letter demanding more than $6,000 by March 3. I have enough for January's mortgage (which they know), but if I pay it, I'm on the repayment plan and I can't get help from California. But if I'm not on it they want three month's worth of mortgage at once, they won't let me pay for just January. Some of the people there are very nice and helpful, but when push comes to shove, the company apparently wants you out of your house.
by Anonymous From Redwood City, CA on February 08, 2012
Does anyone know how to file an appeal with CMC, or contact someone higher up the salary scale--maybe someone in charge of the "hardship" department? I was approved for help, then when the government agency sent CMC the money, CMC sent it back, saying I didn't qualify after all. Now they're demanding more than $6,000 by March 3.
by Al From Fremont, CA on February 06, 2012
They're the scourge of the planet. I had one loan and I'm retired on a pension. Applied for loan modification...Denied. Applied for HAFA short sale...Investor won't participate....denied. Applied for traditional short sale in Oct, 2011. Buyer came in at full price approved by CMC...MI (Mortgage Insurance) was purchased by CMC when bought on the Secondary market to protect them and not me who went partners with the lender when I purchased. So the people who originally gave me the mortgage knew it was no good so they sold it. CMC who bought it knew it was no good as well, why else buy the MI on the place if you thought it was a decent loan product. MI disqualifies us and says we make too much money. Maybe for Little Rock, AR. but the San Francisco Bay Area. My place foreclosed on 1/10/2012. They put me through all of the semantics knowing all along that they would rather foreclose than work out a amicable solution. Don't write or call your States AG because these guys operate under Federal Guidelines. They know the States can't do squat and they'll thumb their nose at everybody. These predatory practices must stop. This is how they treat the very group who's money was used to prop them up only to break it off in us now. Your Welcome CMC.
by FROM Gilbert From Gilbert, AZ on January 31, 2012
CMC denied us for a loan modification two years ago, we have depleted our 401K and student loan refunds trying to keep our mortgage afloat, in July my 3 years old got diagnosed with autism the emotional shock sent me to the hospital with pre-term labor at 33 weeks of gestation, medical bills fill our mailbox every day, we decided to apply for a short sale, we have an investor who has been waiting since then, all the paperwork they asked me for I have provided...my second mortgage approved the short sale settlement we were hoping to close yesterday because that was the expiration day for our 2nd mortgage Bank of America, well CMC is still reviewing our case like if it has not have time to do it since August '11...they are forcing a foreclosure on us, they have forwarded our file to a local law office who has schedule a sale date on April 12, 2012. WHY they did not give me a loan modification when I needed??? WHY they do not want to work with us and the buyer to short sale the house??? WHY they rather foreclose our house????
by Kevin From Bridgton, ME on January 28, 2012
Completely out of touch with reality!!! they are the greed!! that is bringing this country to it's knees!!
by Peter From Maumelle, AR on December 29, 2011
I have had a mortgage with Central Mortgage Company for about five years. Due to the economical crisis the past few months have been hard on my family. Central Mortgage was able to modify my loan at an interest rate of 3%. While it was modified to a "step rate" the payment they gave me was still affordable. I have read several comments on this site and disagree with many of them. As with ANY company, there will always be complaints. I feel that Central Mortgage Company DOES have the customer in mind and appreciate their services.
by ed From Danvers, MA on December 13, 2011
getting a lawyer-calling states attorney!!
by email@example.com From Sun Valley, CA on November 22, 2011
CMC is one of the worst offenders of bad banking practices in the country, and that is saying a lot! My name is Kathryn and I own Facts-First.com . I have been fighting with CMC for various clients for almost three years and I will not stop until CMC is held accountable for their gross failures to service their loans in an educated, professional and legal way. They are negligent with so many of their practices its hard to list them, but the worst of them are the faulty foreclosures and modification denials. They have denied people at 5pm on Monday and foreclosed at 10am on Tuesday, the next day!! No chance for an explanation of why the denial occurred and no time to argue or even file paperwork to try to stop the foreclosure sale. There are laws and procedures on both the State and Federal level that are blatantly ignored and fianlly, with the federal government performing "Request a Review" audits, some people that have suffered because of CMC might see some monetary relief because of it. I am happy to help anyone fight CMC for the relief they are entitled to due to an economic condition the BANKS created.
by DJL From Berkeley, CA on November 02, 2011
Central Mortgage wants you to fail and disqualify you from home loan modification. They put me through the run-around for the last 2 1/2 months. After I left so many messages to a certain Caleb, I am told today by the dispute person Jessica that they dropped my application more than a month ago. No letter, no information provided to me on the many times that I called. Their dispute person works for the company so why and how can she help you? I am lost as to how I can file a legitimate complaint somewhere - I thought all the time that the Home Modification Program was paid for by our taxes to help people ease the pain of the economic hardship. Any advice as to what federal agency I can contact to file a complaint about their service or lack thereof?
by Shelia From Van Nuys, CA on October 16, 2011
THEY ARE THE WORST! I am so glad I found this site so I can take the advice of some others suffering through trying to get a modification with CMC.
by Linda From Sun Valley, CA on October 16, 2011
There are no competent people working there!! My bank sold my loan to them right in the middle of trying to do my modification and I couldnt get anything done with them. The didnt know WHAT they were doing! I finally took a friends advice and called Facts-First.com and they audited what happened with my original loan, and what happened with my modification with my bank before my loan was sold. It is FINALLY getting taken care of. Thank God for Facts-First!!
by Anonymous From Fontana, CA on September 25, 2011
CMC keeps refusing my payments. they want July,August,and now september. The supervisor suggested that I short sell my home and that they've already tried to help me so therefore they don't have to help us anymore. In 2008 they gave us a standard modification with a rate that keeps going up every 2 years!They don't want to modify again through one of Obama's programs they say I have to pay on time for a year before I can be considered for that. I had been paying and all of a sudden I'm behind a month because my previous payment was incomplete and has accrued fees!I feel like they want us out of our home!They took some of our money and used it towards an Insurance disbursement!!
by Tiffany Hammer From Fostoria, OH on September 14, 2011
by Anonymous From Tucson, AZ on September 12, 2011
Anyone who says central mortgage is a good company LIES!!!!!!!! Or they work FOR Central Mortgage and are paid to send in a good review. These guys are the worst, they have no integrity and they are not forthcoming when you call and ask for information. How much longer till this company goes under ... ???
by Anonymous From Boston, MA on August 24, 2011
Downey Savings sold the mortgage to Central Mortgage Company, we had own the house for the past twenty and lost it last year because Central Mortgage Company denied to modify an adjustable rate to a fixed rate. They foreclose and Duetsche bank bought i.e. it has a new owner. it is so sad all these years and nothing instead still owes a second mortgage i cant think about it anymore my blood pressure is too high. it is a sin.
by Anonymous From Fullerton, CA on August 01, 2011
Can I rate them lower than 1, this company force place me for flood insurance and didn't contact me at all to confirm if i have one or not they just decided to add it to my monthly payment so they can collect more. I wonder how to go on 20/20 or other news company to investigate this monster.
by Kathryn From Aurora, CO on July 18, 2011
Why does no one comment on the fact that Arvest, the parent company of CMC is run by Sam Walton's son? You know..Sam Walton, the owner of Walmart, who makes billions of dollars from lower/middle class people shopping in their stores and now they are buying up mortgages and I am sure they are promising investors that they won't lose money because CMC will make sure the loans don't modify. I am looking into the rest of the people in charge and I am going to trace the connects, but pay attention people...don't ignore Walmart's connection while you spend your money there!
by Sandra Sanchez From Pharr, TX on June 02, 2011
Need to file a class suit right now. Horrible service.
by Kathryn From Aurora, CO on May 17, 2011
I am a personal assistant and I am a HAMP expert. I have assisted many in modifying their loans and it's so sad that the lenders business practices are so faulty that they are ruining peoples lives. If you have questions about modifications rules/what you can do to, please email me as I am happy to help. My email is firstname.lastname@example.com My advise is free!
by rick From Wellesley Hills, MA on May 17, 2011
They have ruined our family in so many ways. How can the Government allow this company to continue buying loans. In MA they have applie4d to do business and the AG turns them down every year they apply yet they allow them to continue buying MA loans with no intention of doing business legally. HOW CAN YOU FIND OUT IF THEY ACTUALLY HAVE A REAL DEED TO YOUR HOME? If anyone knows please e mail me at email@example.com
by CMCLASSACTIONSUIT From San Diego, CA on May 12, 2011
ACTION REQUIRED FRAUD! I HAVE BEEN IN THE Central Mortgage Company game AND I WANT A CLASS ACTION SUIT AGAINST CENTRAL MORTGAGE. CONTACT ME TO DISCUSS HOW THIS CAN BE Done. Together. firstname.lastname@example.com
by Vanessa From Holland, IN on May 11, 2011
It did take us 8 months to modify our mortgage, but it happened. PTL. Much lower interest rate and payment. PTL
by Von From Stockton, CA on May 10, 2011
Me and my wife have been working with Central Mortgage Company for the last year and a half trying to get them to do a modification for us. I sent them the same paper work about 12 times or more adding the current pay stub. I was lead off from work then brought back making 50% less then what I was making before the laid. We call Central and asked them for a loan modification under the Obama plan and they said the program doesn't apply to Central and that they have their on program. They requested information from us and we sent everything they need and that still wasn't enough. We sent them the same information 12 times or more. They hide behind the saying of our investors need more information. We went back and forth with them and about 6+ months ago they sent us a letter saying they could not do a modification because their records show we made more money now than we did before. I asked them what records were they going buy because I made 50% less then I did and all of the information I sent them would show that. So they said we'll re-open the modification process and let you know something as soon as we hear from the investors. They continued to ask for our information like before and we sent everything to them like before. After playing the Central game again with them, they notified us 2 weeks ago and said that they could not do a modification. The sad part about all of this is that they will not let you make a payment while you're going through the modification process and when they say no to the modification they want you to pay all of the past due payments with fees! We need to come together and see what our options are and maybe file a SUIT AGAINST CENTRAL MORTGAGE!!
by CURRENT CUSTOMER From Spokane, WA on May 02, 2011
CENTRAL MORTGAGE COMPANY IS THE WORST. THEY LOOSE YOUR DOCUMENTS, FAX IT REGULAR MAIL IT, EMAIL, UPS, FED-EX. DOES NOT MATTER THEY WILL SAY THEY ARE MISSING YOUR Documentation. THEY WANT YOU TO FAIL, SO THEY CAN CHARGE FEES. THEY COULD CARE LESS IF their INVESTORS GET PAID. THEY ARE OUTRIGHT THIEVES, OUTLAWS WITH PENS AND Computers. THEY ATTORNEY GENERAL, AND THE LAW MAKERS NEED TO STOP THESE GUYS. CENTRAL MORTGAGE COMPANY IS TERRIBLE!
by simon mammolite From La Habra, CA on April 24, 2011
Words can't describe what is going on with this company. They act like loan sharks and when you contact them all you get is an operator with no experience. Very frustrating.
by CHRIS PETERS From San Diego, CA on April 13, 2011
FRAUD! I HAVE BEEN IN THE Central Mortgage Company GAME AND WANT A CLASS ACTION SUIT AGAINST CENTRAL MORTGAGE. CONTACT ME TO DISCUSS HOW THIS CAN BE Done. Together. email@example.com
by Anonymous From Hacienda Heights, CA on April 03, 2011
We are not sure what to do, we have gotten the run around from them. After reading all these comments, I just want to give up on any hope of these people doing anything for anyone and how come no one has filed a class action law suit?
by James R Teal Jr. From Palmdale, CA on March 22, 2011
Submitted paper work for a loan modification. Payments went from $1700.00/mo to over $3400.00/mo. Hardship letter, wife's illness, MERS, predatory loan. We received no livable consideration. The real tragedy is that CMC will sell the property and actually receive less than $1700.00 including T & I. The property will sell for less than $275,000.00 as did my neighbor's a month ago. WOW, CMC. You can do better!!!
by Florence From Palmdale, CA on March 13, 2011
If you posted a good comment you lied. This company only want to foreclose on your property. My payment was sent back because I was two months late. I explained why and was also denied both modification. I tried to send more monies to make up for being behind but like I said they are not there to help but take the property. Wonder why people leave the homes destroyed! i guess now that they will not take the payment I have to wait to get the foreclosure paper work which is what they want. I do not have funds to hire an attorney
by Anonymous From El Cajon, CA on March 13, 2011
I have been working with Central Mortgage Company for over 2 years now. I started a few months before our loan was to adjust and was told I had to wait closer to the adjustment date. When I sent in our paperwork for the hardship request we were told it could take up to 3 months due to the volume they were experiencing. This of course was now 2 months AFTER our rate when up by $700 a month. Then we had numerous requests for additional paperwork that was NOT on their original forms. We complied, again with their requests. Then we were denied because we were over the 31% but I have no clue how they arrived at their figures. We attempted to work with their customer service center but of course each time you call it is a new person who just "reads" the comments on your file to familiarize them with your situation. Submitted request #2 - then they said our debt was too high...so we went through consumer counseling and lowered our debt. Re-submitted the paperwork for the 3rd time only to be told 2 months later that now we had excess income and no longer qualified. We were struggling and had used our savings for the additional increase in payments for 6 months when they suggested we go on forbearance for 6 months. This is the worst thing they could have suggested! At the end of the forbearance when I went to make my monthly payment they said I had to make at least 3 months since we were no longer in modification status. Their suggestion when I said I could not make this was to short sell or go to foreclosure. So I pulled money from my 401k to make the payments so we did not lose our home. Resubmitted hardship package #4 and continued to make my payment - this is now going on 1 year since I first started working with them. 2 months later I was told there was no longer a hardship based on making the higher monthly payments and our debt was down. Central Mortgage said now all we had to do was come up with the "back payments" from the forbearance they put us on! I sent in an appeal and continued to make payments until June 2010. My payment was returned and was told it had to be for the full amount owing since we were no longer in mod status. Sent in another appeal and hired a financial consultant as dealing with Central Mortgage had become a full time job and I could no longer keep up with the constant calls and demands for additional information. The consultant re-worked our numbers to show CM how they are "supposed" to be looking at the numbers based on the published federal requirements. Submitted package #5 and they came back with a modification that was $30.00 less the adjusted monthly payment that we had told them all along we could not afford. It is the same game they play - hiding behind the "investor guidelines" and saying they have no control over what can be offered to us. January 2011 marked the 2 year anniversary of TRYING to work with them to some acceptable resolution (not a $650 higher monthly payment, not a short-sell or foreclosure which are their suggestions) in keeping our house. And yet we are no closer to an answer then we were 2 years ago….
by Just a customer From Spokane, WA on March 10, 2011
by Anonymous From Fairburn, GA on January 05, 2011
by Anonymous From Wellesley Hills, MA on December 08, 2010
They lie, contradict themselves. They are NOT LICENSED to refinance loans in MA. MA AG told me if they cannot provide the same services the loan originators could then If the process is done right I should be able to own my house free and clear. They have never sent me a mortgage or anything close to
by Anonymous From Pine Grove, CA on November 28, 2010
Our loan was also transferred to Central Mortgage from Downey Savings. Central Mortgage fraud us out of our home. We applied for a loan modification at the beginning of 2009. For the next 8 months we struggled with trying to communicate with them. We sent in our paper work 3 times and we were told not to make our house payments because it would negatively impact our modification chances. We were not to worry the unmade payments would be tacked onto the end of the loan. When we were able to speak with some one at their company(very difficult to do) we were told our modification was working its way through their system and things looked good. Then we received default papers. We called and said we wanted to make payments we were told it was too late, we had to pay the entire amount or they would not except it. By now there were default fees and late payments that added to the total due. But again we were told not to worry we were very close to getting our modification. Then we received a foreclosure notice and date of sale. During the month that we were approaching the sale we were told it would just be a matter of days until we were notified of our approved modification. We were in a panic. A week before the sell date we were notified that our modification was denied because we had not been making payments. We contacted a bankruptcy lawyer and filed for emergency bankruptcy protection. We came up with a plan that allowed us two years to sell the house at the current market value and there would have been enough money for complete payment to Central Mortgage and the second that we owed to Wells Fargo. The bankruptcy Trustee approved the plan and we thought we were going to be okay. Central Mortgage denied the plan because they felt that there might not be enough money for Wells Fargo to receive their full amount. They thought the plan might run short by a few thousand dollars. The plan was declared a no-go on June 15. Our house was sold on June 25th. It reverted back to the loan holder which turned out to be Deutsche Bank. We didn't know it had been sold until I called the bank on June 27 to see what was up. So now we owe Wells Fargo $150,000 and Deutsche Bank has our house that is worth $525,000 at todays prices. We only owed Central $330,000 so they made out real well. We were never given a chance to do a short sell. I believe that Central Mortgage intentionally strung us along and lied to us in order to fraudulently get our home. If Central Mortgage tells you that you do not have to make your payments WATCH OUT! I am going to file a complaint with the Attorneys General of Ca and Ar. I have also had extremely poor customer service with Central. I know enough not to yell and scream and I have always threatened their employees with respect. The rudeness they have shown me is not because of my behavior.
by Ron From Costa Mesa, CA on November 25, 2010
I too have experienced their "games" and so called "mistakes" in obtaining a HAMP loan mod. It took 7 mos. and they sent me agreements to sign that were $750 per month HIGHER than they should've been, based upon the 31% of monthly gross income guideline. They OVERSTATED my income by almost double! I'm in Home Improvement Sales on straight commission. We earn most of our annual income in 7 mos from late spring to early fall. They took my (highest) summer month's income times 12 to project that I made almost twice what I actually earn! Also, they "forgot" to take into account my ~$500 HOA & Land Lease payment in their payment calculations. They "mistakenly" reported 90 days late after we had a signed agreement that they would "stay" my payments for 3 months and NOT report to the credit reporting agencies. It dropped my FICO score from 782 to 664 overnight! Ultimately, I got the mod completed and got the 90 day late report removed, but there was a lot of stress and hassle along the way. Ultimately, it was well worth it, as my original 5% fixed P/I/T payment went from $1884 down to $947! Hell, there's no way you could rent a 1700 sq. ft 3 bedroom 2 bath Townhouse in So. Cal. for that cheap! My advice is to read and learn everything about the HAMP program guidelines so that you are informed. Then, when/if they try to pull something on you, you can knowledgable counter it and defend yourself. Also, it is much more effective to communicate directly with a Manager or supervisor in the Loss Mitigation Dept. Here is the contact info of who I dealt with. We emailed back and forth allot. This should help those of you reading this: Millicent Stanley Loss Mitigation Supervisor Central Mortgage Company (800)366-2132 extension. 4821 Direct (501)716-4821 Email - firstname.lastname@example.com Fax - (501)716-4872 I wish you all the best of luck!
by Carin From Orland, CA on November 07, 2010
Our loan was sold to Central Mortgage Company from Downey Saving several years ago. Downey would call us and let us know when rate where changing their service was great. Central mortgage customer service department is nonexistent. You are on hold for hours I am glad we have a speaker phone so I could multi-task. Twice we have tried to refinance or even ask question about refinancing the several hours it takes is appalling. We did get through once (several calls several hours several days) to a man named Larry who ran through some numbers with us that sounded encouraging but he informed us that a man named Bucky would call back and finalize. Well to our amazement (not) BUCKY never called back in fact we have called and asked for BUCKY several times but have never spoken to him. I think he is real he has voice mail but really when you work in finance in a major bank with peoples homes and lives should you not have a real name William or ever Richard not what your high school friends called you. Never the less BUCKY never called back. We have never been late on a payment nor will we ever be late. It appears they don't what to refinance any homes they would rather keep you out on a ledge making you think they care but they only want our money of course. Corporate greed continues.
by Vanessa Landstrom From Holland, IN on November 03, 2010
by Marie From Monterey, CA on October 24, 2010
I encourage you to file notify your state attorney generals office. We reported them to the state of CA and AR. Terry Goodard's, attorney General's office, state of AZ, Pamela Crabtree has responded and forwarded our complaints to their office of Consumer protection and advocacy section. We have experienced all of your nightmares. My elderly mom is being kicked to the curbside. We are in process of hiring an attorney to investigate their compliance with the current laws. How about a class action lawsuit. They deserve to be taken down.
by Jim From Mokane, MO on October 22, 2010
Talked to customer service after an hour on hold. She stated one thing that per diem would cover till close and they received check. They filed late notice, dinged credit history and will not answer any attempt at phone call or return call. Over 3 hours on hold at different times with nobody answering. STAY away from this company!
by Michael Wilson From Bessemer, AL on September 15, 2010
Nightmare ! Applied for a loan modification , was told they would not except payments while working on the loan I applies in April 2010,I faxed the same information OVER and OVER. I called them 3 times a week and was encouraged every time, they kept telling me that things were looking good but they needed more information. For seven months I went through faxing calling and stressing. I spoke to two different agents on September 8th thy both said that everything looked very good and needed no more information,then TWO days later on September 10th 2010 I had a foreclosure sign on my door without ANY notice !This company is crooked ! They should be prosecuted for what they are doing to people ! This is the absolute WORST company I have ever seen or heard of !
by Tim Gibbs From Tucson, AZ on September 12, 2010
by Rob From Glendale, AZ on July 25, 2010
To those who post positive reviews you may be right. They may be willing to help when your not in trouble with your finances. I got great service when I had a good job and could pay. When things went bad and I tried to get a loan mod I got the same treatment all the complainers are getting. They kept me on the hook for a loan mod, ruined my credit for a year during the process even though I paid almost 70 percent of the payment each month per an agreement with them and per there instructions. Got the same lousy service everyone is mentioning. Got turned down for the mod. Got a huge bill for all those months I was making partial payments. Bill was for 7K and they wanted it right away. So Found somewhat better jobs and my wife and I are back to paying them and their nice again. Oh and I had to pay all that money back right away. Ate pretty deep into my savings. But hey we are back on track paying a huge payment for a house that is worth about a third of what we paid. Oh and the pricks are nice again. yea.
by SIMON K. From Indian Wells, CA on July 25, 2010
by John Hegener From Chicago, IL on June 11, 2010
Horrible. Central Mortgage Company is the DEVIL. Rude people that do not have an ounce of sympathy for people like us going through difficult situations. Karma is a bitch Central Mortgage Company.
by Tanya From Union City, GA on June 02, 2010
My note went up (a lot) recently and I didn't have an ARM. When I called for an explanation I got a rep quickly and she stayed on the phone with me a very long time to help me figure out that the insurance and taxes had gone up, making my escrow account under funded. She worked to spread the overage over some time so that I wasn't hit with a huge payment out of nowhere, and even called me BACK to give me further helpful instructions. So far, I am happy with this company.
by lake From Moberly, MO on May 11, 2010
I cannot believe all the negative posts! It makes me feel better just knowing that there are other people going through the exact thing we are. The countless, stressful hours and trees I have killed sending the paperwork over and over again. They refuse to speak with you, will not let you know any status to all the paperwork they needed, but then to receive a foreclosure notice, what a slap in the face. Two days after the foreclosure notice we receive another notice where CMC had run our credit, why now, why put another ding on our credit if you are only going to foreclose on our property! I'm done, it is less stressful to rent, get your .33 cents on the dollar off my property (if that) but I give up trying to deal with this company! Home owning is not the American Dream anymore, it has turned into the American Nightmare!!!
by Darren Jones From Seattle, WA on May 06, 2010
Central Mortgage is underwritten by Walmart?!.My spouse and I are working so many hours that our children suffer, and we go without food to make the payments, still we have late fees, and though we have attempted to call, email and obtain a modification, Central Mortgage just keeps adding more fees while they make a killing off of the hard working families while not lifting a finger of compassion because after all. this is about the Corporations shareholders and Wall street, not the people commenting on this page. Shame on the CEO and company for their insensitive greed and corruption going unpunished while we get punished for their lack of humanity.
by Anonymous From Sharon, MA on April 30, 2010
CRIMINAL...the most stressful experience I have ever been through in my life. I had to fill out paperwork three different times...could never get a straight answer from ANYONE. They actually told me not to pay my mortgage while I was waiting for approval...because if I paid it I would be denied. I followed their instructions and they reported me to the credit bureau!! They flat out refused to work with a third party I brought in to help. It took almost a year to get everything squared away. Worst company I have ever dealt with!
by Severiana Jordan From San Bernardino, CA on April 21, 2010
We got behind in our payments in October 2008 when my husband became ill. I wrote to Central Mortgage and asked for a payment plan due to my husband's illness. I sent the completed package they requested. No results. My husband died in January 2009. I had to resubmit a package. By this time they would not accept payments. Submitted package 5 different times throughout the last year, the last one in March 2010. They stopped communicating with me in February 2010 because they said I am not authorized to speak to them about the loan because my name is not on the loan. They denied the modification because my name is not on the loan. They denied the assumption because I do not live in the property. So I short-sold the property. I just found out the property went to sale and it reverted back to the beneficiary. During this whole time, they urged me to not involve a third party, they were working on it. Now my only choice is to involve Hope for America and try to get the foreclosure reversed. I will contact the Attorney Generals in California and in Arkansas. I don't know what else to do.
by Anonymous From Southport, NC on March 10, 2010
by Bella from Oregon From Hillsboro, OR on March 06, 2010
Central Mortgage is my servicer. I like many people have been trying to get a modification from Central. I had submitted the documentation. I was in contact with them. I told them I would be able to catch up on the 3 past due payments by February 2010 but in the meantime I could start making regular payments again. One of their employees told me that as long as I started payment regular payments it should be ok and to just wait for a decision on the modification. 2 weeks later I received one letter telling me that I was denied for the mod and a second letter telling me they were turning me over to the attorneys for foreclosure. Both letters were dated the same date. No other options were provided to me and I had told them I was expecting a bonus from work and would catch up on the 3 months past due. Now I have a sale date. I had tried to talk to them and they would listen. I asked to talk to their Loss Mitigation and they wouldn't let me. I told them I had sent in a payment for Dec and they said that they would just send it back. They haven't sent it back and now they are saying they don't have a record of it. Fortunately I made the payment through my bill pay with my bank and my bank is investigating what happened to the payment as it shows that it went through on their end. I'm making another request for a modification and the Oregon state law says they have to respond in 45 days. Instead of dealing with these people myself, I have retained a lawyer. So we'll see what happens.
by Tom Millet From Des Moines, IA on March 05, 2010
The worst company I have ever dealt with,stubborn and non professional. where do I go to complain.
by Kurt Wilfinger from Macomb From Macomb, MI on March 04, 2010
The definition of stupid is doing the same thing over and over again. The support staff and so called supervisor are obviously expertly trained in this maneuver. There is absolutely no accountability at this firm. Promises are made and sent in writing and then withdrawn the next week. We were offered 4 month forbearances in lieu of foreclosure which was withdrawn and $17,000 in payment demanded without prior notice. The only way to deal with this firm is to complain to the state attorney general's office and from now on our attorney does the talking for us!
by Anonymous From Portland, OR on March 01, 2010
I have NEVER had to spend so much time dealing with a mortgage company as I do with them. They pay to send people to our house handing us a slip to "call immediately" when we are current with our loan! WTF? Seriously, it's like they are harassing even those who are paying according to the original terms.
by Almost B. Homeless From Moyock, NC on February 11, 2010
Their behavior would be criminal were it not condoned by lack of action by Congress.
by Anonymous From Antioch, CA on January 05, 2010
This company is the most unconcerned company I have ever dealt with. I believe they tell you anything just to get you off the phone. I was told today to short sale my home or try and find the investors of this company to plead my case with them. I explained that NACA had contacted them they said they had not. I then contacted NACA today and gave them another fax number that the Representative from Central Mortgage had given me. She faxed all my information again today. I don't believe that they are going to reply to NACA or anyone else. I will be preparing to short sale this home. I owe 800 thousand and the house next door to me sold for 270,000. I am in a pickle hear.
by Anonymous From Temecula, CA on December 28, 2009
HORRIBLE! HORRIBLE! HORRIBLE! This is the worst company to hold your mortgage loan! They set you up to fail! They do NOT respond to email, messages, faxes, etc. They could care less about you and your home! THEY NEED TO BE HELD ACCOUNTABLE!!!! The Presidents Affordable Housing Act I'm assuming doesn't have any effect on Central Mortgage Company! - They don't care! I have been trying since March 2009 for a modification, to finally be told - we were approved - then weeks later - they were not going to pay my taxes anymore - then a couple weeks later - they were disapproving our modification!! WHAT GAMES ARE THESE PEOPLE PLAYING AND HOW ARE THEY ABLE TO CONSTANTLY GET AWAY WITH THIS!! Well we all need to stand up for our rights and pester the crap out of them, file complaints with the BBB - Arkansas Securities - emailing the head honchos of Central Mortgage Company and NOT LET UP ON THEM!!! Hold them accountable of forcing us all and setting us up to fail!!!! This is absolutely crazy that this many people have had such horrible service from a provider that clearly stats on their "mission statement" on their website - that they do anything in their power to supply the greatest service to their consumers - that is just CRAP!!!!! They do the opposite!!!! THIS COMPANY IS A JOKE!!!!
by Robert Lampkins From Stockton, CA on December 23, 2009
by Anonymous From Glendale, AZ on December 11, 2009
This company sucks. They tell you something different every time you talk to someone. We just got turned down for a loan mod and during the process they said are credit would not be affected, lie. They dinged us for almost a year for paying the reduced amount the agreed upon with us. Tell me how you can be dinged for paying an agreed upon payment. These pricks also want a lump sum payment in a months time for all that difference that we didn't pay over the year. Basically we got no help and now a 5K bill due in a month. Nice company.
by Anonymous From Chesapeake, VA on December 04, 2009
by Sridharan Krishnaswami From Chesapeake, VA on December 04, 2009
After exchanging info for over six months I was denied modification. Property could not be sold. Values are declining and Central Mortgage company refused to modify.
by Denise Spear From Aptos, CA on December 03, 2009
There have been errors made in the amount they have charged me on payments and could not show me where the 180.00 was going and I believe they are doing it again now
by Anonymous From Pittsburg, CA on November 30, 2009
We have been waiting for the result of our application for modification for over 6 months now. Our house is now valued at $ 130,000, way way below the original value of $ 395,000 which is our loan amount to Central MOrtgage. The other day we received a letter from a lawyer saying we are on their foreclosure list already. In spite of the several follow-ups we have not heard from this company and the next thing we know is that we are on the brink of losing our house. What kind of service are these people providing those that are in need of help. The government have done its share of assisting the home-owners by providing funds which was given to lenders. Its now their obligation to pass it on to the people and do their share. All the negative comments posted on this site are all true. I think its better if we all join forces and write a petition for Central Mortgage to really shape-up and sincerely attend to the homeowners who are in need of assistance. Is there an government agency wherein we can report such disservice to the people ?
by Vince From Lompoc, CA on November 25, 2009
Anybody on this page that has had good luck with CMC say a prayer and keep hoping that they do not screw you over like they did all the rest of us. A lot of us on here have or had the same problem. My loan to was transferred four times and like a the wheel of fortune we might as well had landed on bankrupt. Everybody is right to say that there customer service sucks and they have no people skills. As well as knowing there wrong with mismanaging our money they should be shut down and everybody giving there money back. I too was taken from these people after they told us we missed a payment. Thank god for checks and our bank cause we were able to prove that they were indeed wrong and could not prove we missed a payment. Then proceeded to blame GMAC for the mismanagement of our money. GMAC I will say helped me out by looking up all of our info even the info from CMC. The lady told me that they were applying our money incorrectly to the first loan and not the second. When I spoke to CMC about this they told me I was wrong of course and that was not happening. We have all of our checks saying we paid. We were also told we could not send one check in for two mortgages (we had a 20 80 loan) meaning our money went were? So we had to send one check in with 2 account numbers on it. Then we were told that was wrong (there guy said to do that) we need to send two separate checks with the loan numbers on them. Tell me something, if you send two checks in the same envelope to the same place why is it that only one loan is past due and the other is not. They say they don't except partial payments but were taking our money and cashing it anyway. Bull SH&^& is what I say. THe foreclosure department sucks as well cause they never sent me stubs saying I paid the re-pay. If there is a lawyer on here get at me cause I did not lose my job and neither did my father who is retired air force 23 years who actually had his name on the loan. Like I said in the beginning if your loan is ok with these people you should pray to God they don't do to you like they have done to us. Lawyer fees are expensive and they pray on that fact. Somebody needs to speak against these people. Last thing is I did write my congress man in order all the way to the president and that got me no where. Someone needs to step up cause we know CMC isn't.
by Anonymous From Holualoa, HI on November 10, 2009
I have been trying to obtain any possible assistance for about 10 months. I first attempted to do a deed in lieu of foreclosure. After months of waiting and a mountain of paper work, I was called by Tracy Chandler and told to stop paying as CMC was going to do a deed in lieu. It was a huge relief as I could not afford the mortgage, and I was running up credit card debt to cover it. But of course, the news WAS too good to be true. When I tried to follow up- as I received nothing in print, the offer was rescinded because I had too high a credit score! How absurd! I was current on my payments, but my debt to income ratio was enormous! So they advised me to pursue a modification. MOnths passed, some good news, I made it to step three! Only to again be thwarted, and told I did not qualify because I had too much money in the bank (I had just cashed a credit card check to be able to pay my mortgage!). But, a nice guy in the MOdification department, Chad Brown, offer me a forbearance- a three month period with no mortgage payment (and no credit reporting)during which I could try to do a "short sale " of my property. This was the nicest thing anyone at CMC had ever done! Ah- a little breathing room, while I try to sell it! Well, no sooner did my file get shifted back to the Loss Mitigation Specialist, and into the hands of Tracy Chandler, that she decided to unilaterally cancel my forbearance issued by the modification department! I had it for about two weeks, when it was intended to last for 3 months! I consulted with a lawyer who said indeed it was an illegal cancellation of a legally binding contract (the forbearance was signed by all involved parties) and a letter was sent to CMC to this effect. But they delayed a response, and reported me delinquent on my loan, irreparably damaging my credit. Two attorneys said I could absolutely win in court, but what? Why would I spend the money to prove they illegally canceled my forbearance, when they had already destroyed my credit? I emailed TRacy Chandler yesterday to ask her if I can now do a deed in lieu of foreclosure, now that they have ruined my credit, and of course, the answer was "no"... because I'm not current on my payments! This company is run by quixotic idiots who seem to take a measure of delight in screwing with you. Oh, did I mention we could have had a short sale- but, Tracy Chandler nixed that too! This company is the worst I have ever dealt with.
by Anonymous From Brentwood, CA on November 10, 2009
We applied for a loan modification in Jan 09 and after submitting the application for the third time, they finally had all the paper work and it went under final review for 6 months - during which time they repeatedly asked for pay stubs. We have decided that it is too little, too late and we are going to pursue a short sale. We have been advised by our attorney to stop paying the mortgage. Has anyone successfully closed a short sale? Do they try to come after you for the deficiency? I don't mind my credit being screwed for a few years; I just don't want them to have a deficiency claim against me. Thanks!
by Anonymous From Las Vegas, NV on November 02, 2009
Central Mortgage is owned by Arvest Corporation. Go to arvest.com for more info. I have been trying to work with Central on a modification for almost a year. I have been asked for the same paperwork over and over again. Still no relief. I will keep on going, but don't have much hope.
by Anonymous From Jonesboro, GA on October 23, 2009
Funny thing about it is, did you know that these banks who have Fannie Mae or Freddie Mac loans are required to be on board with President Obama's Modification Plan by December 31, 2009? If you look at the list of Servicers ( banks that own your loans) that have jumped on board so far, you will see that Central Mortgage is not on this list and seem to be waiting until the last second to get on board. You have to ask yourself why? Why would these loan companies NOT want to scramble to get on board with this plan in order to help those of us in need? I'm not the "rocket scientist" here, but something just smells really bad about this company and others who have the Governments money to help, but are taking there precious time to move forward. From day one when my loan was turned over to this bank, they raised my monthly payments by almost $100. When I asked why this was done, I was told that the first bank did not calculate my loan correctly. How would I know any better? They could be skimming off the top for all I know. I also am behind by a couple months on my mortgage due to a job loss, but I send in payments whenever I could to try and catch up. However from what I gather from most folks on this forum, seem like I'll have better luck waiting on Jesus than waiting on Central Mortgage....Amen?
by Anonymous From Scottsdale, AZ on October 21, 2009
These people are scum. They refuse to let you speak to anyone involved with your loan. Never seen anything like it. All customer service does is give the run around. These people are criminals.
by Madelyn Gonzalez From Bronx, NY on September 24, 2009
They are disgusting to deal with. We decided to refinance and they told us not to send anymore payments until the paperwork was complete and without any further notice they sent a foreclosure letter from a lawyer. Now I have to deal with lawyer fees. They are crooks.
by Dr. Thomas E. Martin III, PhD From Myrtle Beach, SC on September 21, 2009
Contact Debt Collection Attorneys in your state. File claim. Most Debt collection Attorneys will handle case on a contingency % if you have a paper trail to support your claim. CENTRAL MORTGAGE must be held accountable for breach of contract, misrepresentation,fraud, etc.
by steven moretti From Byron, CA on September 14, 2009
They refuse to call us back even though we have requested a modification.
by Jack From Glendale, AZ on September 12, 2009
It seems that Obama gave them this money to hv thee banks keep it. Less then 5% of homes r beginning modified. They should of let all these banks fail & shut them down. Central Mortgage will NOT help! No one i there, phone rings & rings. I even faxed them about my decline and someone finally called and agreed it needed to be approved, it been 3 week till no word. These banks are not being help ACCOUNTABLE for the $$ they were given.
by Anonymous From Saint Paul, MN on September 11, 2009
I am happy to see others share the same negative view about Central Mortgage and that it's not personal. However I am also discouraged that nobody has been able to inflict any legal action against Central Mortgage. They do not accept partial payments when you fall behind. The Modification and Foreclosure department definitely needs to be regulated because they lead you on, do not communicate with you, will not tell you who the investors are that they claim are looking at "your file", they misrepresent you, have you submit a lot of paperwork (which never seems to be taken into consideration, i.e. a hardship letter), treat you unprofessional, and have a very antagonist approach and style. We were told we qualified for a modification (in writing) then I called several weeks later to follow up because we had not heard anything to be told papers will be in the mail its in the final stages. When nothing came I called again only to be told we did not qualify for a loan and there was an internal mistake. I asked if they could send it to another investor and we have been getting the run around ever sense. I do not get any response from emails or voice mails. The last representative I spoke with said they don't have time to communicate that just slows the process down. Well if you're asking me to fax documents I need to know if you received them and if my file is being submitted. At this point I am not sure if the modification department is working to help me or to have me think they are until I am so far behind there isn't any more options for me. I will have to contact the better business bureau. If any one has any ideas how this company can be held accountable for some of their actions please post it. Thanks
by Ann From San Jose, CA on August 21, 2009
It looks like a plan. In the past 5 years, have received 3 notices from Central Mortgage stating that they haven't received the bill from my insurance company and may no be unable to pay out by the due date. I see how easy it would be to miss this notice and lose that mandatory coverage. Otherwise I have had no other problems with them. I have to deal with them in the next few months and am not looking forward to that.
by Winston Perez From Fairburn, GA on August 18, 2009
by Anonymous From Flushing, MI on August 18, 2009
My loan modification finally came through..... I applied in November 08' Its August 09', so it took a long time. I had many problems communicating with the loan modification department (don't accept calls). If you are patient and are eligible for a modification it will get done. A lot of the problems I experienced were a massive delay in paperwork at Fannie Mae and the processing itself. Thanks for the mortgage relief Central.
by Anonymous From Phoenix, AZ on August 17, 2009
this company needs to be shut down they do not want to help people
by MB From Brooklyn, NY on August 12, 2009
I accidentally stumbled upon this site and was quite alarmed by what I read. My loan was also transferred to Central Mortgage and my immediate reaction to what I had read was calling the company to see for myself (after being with them for almost a year and making all payments on time, I had absolutely no problems with them). I was able to get through to a customer service specialist in less than a minute. He was courteous and answered all my questions to my satisfaction. I asked whether they added a prepayment penalty to my account when the loan was transferred and he insisted that it would be illegal for them to do this behind my back. So, I am not sure what is going on with these reviews. My suggestion when calling these people is - be polite, be understanding, and be patient. You won't get far by cursing and yelling.
by Anonymous From Lone Tree, CO on August 11, 2009
My interactions with this company have been excellent! They have been very good to answer questions and assist me with information on obtaining a mod. I can't complain at all at this point in time. Much better than Chase: couldn't even find information on a contact for the home mod program. Left a message 7 months ago - never heard a word!!!
by Clarice brown From Port Saint Lucie, FL on July 29, 2009
Central mortgage employees as instructed to give their clients misleading information regarding getting assistance with mortgage modification. Look for my findings in a letter a am writing to the Better Business Bureau
by kevin From Tabor City, NC on July 22, 2009
central will send paper work and make you think they are working with you . But will never call back I have called as many as 50 times in a day with no luck. They will not work with you and do not care , because fannie mae, freddie mac are helping them out. But with my understanding i thought those companys were put in place and given our money to help the people in trouble of losing their homes not to keep central mortgage compny and others from giving a s/// because they khow have nothing to lose the gov will give them what they need so what about us
by Anonymous From Zanesville, OH on June 22, 2009
I received a statement for 48 cents paid knowing better ,the next month they said i owed two months payments ,paid it they applied one to principle ,the next to interest ,seeing that currently i have an interest only loan , didn't make much sense ,tried contacting them but they never replied ,just keep getting statements showing how far behind i am ,keep calling no answer ,sent them copies no answer ,now I'm writing on a statement or something saying I'm in default ,bought a sleeping bag and tent so when I'm homeless i can show up in wisconsin or arkansas ,or hell in front of my local wal mart and camp out ,don't know but it seems like this is the norm go figure ,welcome to the new world
by homer aycardo From Tracy, CA on June 19, 2009
Instead of helping, they made it worse! I tried to negotiate but there response is to help you loose your home instead.
by Minneapolis From Minneapolis, MN on June 18, 2009
I have been trying to work with this company to restructure my loan. They're quick to send paperwork, but they WILL NOT RETURN PHONE CALLS. The recording said 72 hours, that was 2 weeks ago. I finally got a letter saying that they've suspended my request for hardship assistance because I didn't supply them with a Year-to-Date Profit Loss Statemen! I cut hair for a living, I rent my chair, I don't run the business!!! I do not have one of these. I wrote that on my fax to them asking them to call if this was a problem, they did not, they just potentially screwed me out of my house because nobody will listen or read. This is the worst company I can imagine dealing with.
by Anonymous From Enterprise, AL on June 17, 2009
this is the worst bank i have ever dealt with there has to be something that the president of the united states can do with these so called professional people. alabama
by Anonymous From Buford, GA on June 16, 2009
If you are going to take money from clients; at least be available to receive phone calls to service.
by Anonymous From Severna Park, MD on June 09, 2009
Pitiful company. Liars.
by Anonymous From Morro Bay, CA on June 05, 2009
These folks, especially a man named David Jernigan are as dumb as they come. Impossibly thick to deal with, unable to grasp the big picture and wage slaves whose productivity amounts to about fifteen minutes in an eight hour day. I highly recommend you look elsewhere for your home loan
by Peter from Chandler, AZ. From New River, AZ on June 02, 2009
Like most of you, our loan was sold to Central in 2005. When the Phoenix real estate market crashed, my home lost 50% of it's value. MANY homes in our neighborhood were in foreclosure and we were upside down by hundreds of thousands of dollars. My job required me to move to the East coast and we were forced into a short sale situation. We had to keep dropping the price due to market conditions and after 6 months finally received an offer. We completed all the paperwork and my realtor submitted the purchase contract which was at fair market value. After 6 weeks, we heard nothing. After 8 weeks, nothing. My realtor and I called Them every day and left messages. vm said they would call back in 72 hours. We have left several messages over the past 4 weeks and they have NEVER called back. We received a second offer higher than the first and still could not even talk to someone on the phone. It's like we didn't exist. Eventually, it dawned on me that they don't own the loan and could care less if it goes to foreclosure. Well now that's when we're headed. In 5 weeks the house will be sold at auction for FAR less that the offers we received. Do they care? NO WAY! It's not their money that's going down the drain so why should they care? In summary, if you want to do a short sale and Central holds the first, you can forget about it. It will NEVER happen. They SUCK and their service is pathetic.
by Masterseen From Acton, CA on May 28, 2009
This Company should fold up. I have been trying to reach them for over 10days and can't, but I keep getting a message machine and I have left several messages and nobody has called me back as they promise a return call within 72 hours - 72 hours?
by Anonymous From Temecula, CA on May 14, 2009
This company wants you to default!
by Anonymous From Los Angeles, CA on May 14, 2009
I understand you feel the need to defend your company but, you must realize that this is our lives you guys are putting on hold. We are in a situation where we need help and even we need help like yesterday. We are reaching out to your company so we can make arrangements so won't be late with payments or our home has to be repossesed. If that happens then you my dear would be unemployed and god forbid go through the same hardships that some of us are going through right now. So yes we're impatient but put yourself in our shoes and you too would be upset if someone were dragging their feet with your life. You would want answers and you would want them not now but RIGHT NOW. So please try to have a thick skin because alot of are scared and the waiting process really sucks.
by Anonymous From Little Rock, AR on May 14, 2009
I work at Central Mortgage right now. I want to clarify some of the things said on here. A- Yes, we are the SERVICER of your loan, we don't own it, but we can see who your investor is. We will tell you if it is Fannie or Freddie for the Obama program, but other than that we are instructed to tell you it is 'private'. Private is usually Morgan Stanley, some company called 'Mana' or some other investor. Yes, we do want to help you, but you have to understand that we are human and make mistakes occasionally, especially when the work load has grown exponentially. The amount of people defaulting on their loans is huge, and has happened so quickly that we don't have time to hire employees and train them in enough time. Many times, these new employees have to put you on a short hold to check with their supervisors to try and give you the most correct information possible. As far as verifying information rec'd. YES, this is CRUCIAL. Many times we are missing docs, and when you send them to us, sometimes they are rec'd and sometimes not. If you fax them, we can look and see if the fax was rec'd if we have the fax # sent to, # of pgs, and time sent. It is true that we are slow to return voicemails. Most departments will return within 24 hours, except the modification and f/c depts, because they are so backed up. The reason it also takes so long to do a mod, is because there are about 40 people in that department, but over 8,000 apps for a modification. This dept is required to work 2 saturdays a month, and most work a 10 hour day in addition to this. the process always takes longer as well if we're missing documents and don't get them promptly. Lastly, remember that we are human, and if you yell at us and curse, we probably will be less inclined to go out of our way to help you.I know for those customers that stay calm and ask for help, I always go above and beyond to get the information they need, even if it means working through my lunch unpaid.
by Eliver Casteniels From Weston, FL on April 25, 2009
I've actually been quite happy with them. I pay my dues, and they've sent me whatever needs to come my way promptly.
by Anonymous From Boise, ID on April 17, 2009
Terrible customer service. When you call all they do is put you on hold or you have to leave your name and number then they will return the call in 72 hours. 72 hours!!!!!! I don't want to talk to them in 72 hours, I want to talk to them today. Somebody should go after these guys. They are not complying with President Obama's plan.
by Mirna Olivares From Pico Rivera, CA on April 16, 2009
This is the worst Mortgage company I have ever dealt with in 20 years! They do not return phone calls, nor acknowledging receiving faxes, or emails. They seem to conveniently not receiving and giving assistance to restructure your loan. They seem not to care that people are loosing their homes or about to I am trying to do a loan modification for almost 6 month, early March they calle me and say they have the propose loan for the investors, the lady who called said I will take up to 1 week and 6 weeks has pass by and evry time I call to follow up all they said is they are waiting to hear from the investor. I am afraid they are purposefully trying to delay any loan mod to take the property.
by Frustrated from California From Cerritos, CA on April 16, 2009
Worst company to even get a modification application, let alone a modification. Plus they lied and told me I did not qualifty for the Making Homes Affordiable Mod. Program (Obama's Plan). They kept telling me that I needed to have a Freddie or Fannie loan. That is true if I was trying for the Making Homes Affordiable RE-FI program, btt I was not. I just want everyone to know that there are TWO programs in the Obama Plan. One for Re-fi and one for modification. Anyway, I am just going to work with an attorney and get an audit of the loan to really put the screws into them. In my opinion, it's the only way to go, if you're going to go up against them. FYI: My loan was sold to them.
by cmcd From Roseville, CA on April 13, 2009
I have not had trouble with lost payments or lost insurance since loan sold to them 2 years ago..but got to tell you that the website stinks! pay by phone/pay on line stinks...and the fact that they will NOT EVEN explore the options of a loan modification is just totally bewildering to me! by the way...if you ever get into a predicament and need to make your payment by credit card...that will also be a big "no".
by Anonymous From Redondo Beach, CA on April 12, 2009
I was sold to these SOBs like a lot of us. They can't go out and get people to apply to them for loans...they are just too screwed up. I had a payment that was cashed by them but not credited to my account. It took several months before they finally recognized that the copies of cashed check were truthful and I was current. In the meantime they reported me to the credit companies as being delinquent! Afterwards...it was too bad' but there was nothing they could do".
by Anonymous From Santa Monica, CA on March 30, 2009
I submitted loan modification docs to this company in November 2008. No response except it was "in processing". I'm afraid that they are purposefully trying to delay any loan mod to take the property. I will be reporting this to the AG's of both CA and AR.Over the weekend I recieved a forebearance agreement dated the 25th of March, indicating that I need to make nearly full payments on the 24th. How does that work? I fear that if I sign it, I will automatically be in abregation of the agreement.I was also sold from GMAC.
by CM From Chadds Ford, PA on March 25, 2009
My loan was transferd to Central Mortgage in August of 07 and during the process a payment was lost. I don't know if GMAC or Central Mortgage messed up, but when I saw it didn't come out of my bank account I called Central Mortgage and sent the payment ASAP. Now I have a 30 day late on my credit report and they refuse to help. I have 22 mortgages listed on my credit report and none have lates. Get real this compnay sucks.
by Julie From Litchfield Park, AZ on March 22, 2009
I, too, have been given the "gift" of Central Mortgage Company. The first thing they did was to send me a statement that indicated I had a Prepayment Penalty, which did not exist. After numerous phone calls spanning several weeks ( all initiated by me, because they DO NOT return phone calls), they finally admitted that I did not have one and removed that wording from my statements. After that, I just wanted to avoid the need to contact them if at all possible. I have been doing some research and what I have come up with is as follows: Central Mortgage Company, a division of Arvest (basically, Walmart)is a SERVICER of your loan. It appears they do not actually own it. (according to Arvest's own website). Most likely, MERS (Mortgage Electronic Registration System), holds title as nominee for the true owner of the note. This system was created to facilitate transfers within the secondary mortgage market. As transfers occur, they are recorded on MERS' computer in a book entry system similar to the transfer of stocks. This eliminates the need to record an assignment of a Mortgage or Trust Deed every time it is sold. Many of these loans are owned by Fannie Mae or Freddie MAc. (They both have look up pages on their websites to find this out.) If it is not owned by them (as mine is not), who knows, it could have been passed around China like a hot potato. From what I understand, Fannie and Freddie loans are the only ones eligible for any kind of "govt money" to prevent foreclosures. This could explain some of the differing experiences people are having doing loan mods. Central Mortgage probably doesn't know who owns your loan when you contact them to request a modification. If anyone knows a way to hack into MERS system, so the rest of us can find out who the resl investor is, please let us know.
by alicia From Mission Viejo, CA on March 20, 2009
Terrible customer service.
by jim miller From San Diego, CA on March 19, 2009
This company is, at best, unscrupulous. Our loan was sold to them and we subsequently refinanced with another lender. The loan was paid off, in fact they sent about $1650 to much. I contacted Central and was told they would hold the funds for three weeks and the send a check. Since we had no impound account, I paid my own taxes and insurance, I asked for what reason they had to hold my money for three weeks. They had no answer other than this is their policy. Since when is any company allowed to hold someone else's money because it is their "policy". I then asked for upper management names so that I could write to express my chagrin and was told they would not tell me who their president,C.E.O., or whoever runs this company by name. I have never heard of a company who won't give you the bosses name.
by Fabiola From Chula Vista, CA on March 12, 2009
I am so glad I got to read these comments on this fraud of a company. My loan was also sold to this company. Like one of the comments suggests, I will contact the states attorney general and the arkansas one also. I urge you all to do the same.
by Frank Proctor From Holly, MI on March 04, 2009
Unbelieveable that any company would remove your ability to pay online when you are more than 5 days late on a payment and when you complain have the nerve to say "too bad, and this is the last email you will get from us" Apparently they don't understand where the economy has gone and where they are headed themselves. Rude, ignorant and uncooperative. No one in their right mind would ever deal with these idiots.
by Anonymous From Whittier, CA on February 22, 2009
My mortgage was sold to this company. I had an automatic payment setup with my bank. They take two payments from this bank, and then send me a bill for a late fee saying I missed my payment. It is auto pay, they come back and say they cant do auto pay because it was setup with the old mortgage company. They got an auto payment in December and an auto payment in January. Now they say they cant get the auto payment and charge me a late fee. They are flat out liars, they got Dec. payment and Jan. payment automatically. They will tell you one thing and do another. Dont deal with this company, YOU WILL BE SORRY YOU DID.
by Anonymous From Livermore, CA on February 20, 2009
the most back wards company i've ever delt with and there wed site sucks
by JO From Los Angeles, CA on February 19, 2009
This company sucks so hard....No follow ups.....It is are near impossible to talk a real person... They send payment coupons randomly..... and do nothing to help I hope they.....
by Janet From San Gabriel, CA on February 19, 2009
We're 2 payments behind, and really trying our best to catch up, so decided to send $1,000, yet CMC states it's not full balance and didn't know how to apply the payment. System states payment not applied!
by Pamela From Martinez, CA on February 14, 2009
Absolutely incompetent and unresponsive.
by SANDRA From Goodyear, AZ on February 12, 2009
I recently got denied for a loan modification from Central Mortgage because we have $120 left over after our bills are paid and were not behind on our payments! I'm not asking for the world, just asking to get out of this loan to a 30yr fixed loan. We purchased our house 4yrs ago for $250,000 now worth 170,000 and the loan we have will adjust in 1yr (interest rate adjust monthly). We need a fixed mortgage with consistent payment according to the value of our house today.. Anyone have any suggestions?
by SANDRA From Goodyear, AZ on February 12, 2009
I recently got denied for a loan modification from Central Mortgage because we have $120 left over over our bills are paid and were not behind on our payments! I'm not asking for the world, just asking to get out of this loan to a 30yr fixed loan. We purchased our house 4yrs ago for $250,000 now worth 170,000 and the loan we have will adjust in 1yr (interest rate adjust monthly). We need a fixed mortgage with consistent payment according to the value of our house today.. Anyone have any suggestions?
by Veruska From San Pablo, CA on February 02, 2009
I contacted Central Mortgage when I started having difficulty making monthly mortgage due to the kind of loan that they gave us. My loan was sold to this company. We made several attempts to contact them via phone and would not receive any return calls. We tried to do a loan modification, but they want us to pay 5 years of interest only which will represent almost 150,000.00 and after the six year they will gave a 30 years loan at 6% APR for the amount of the total loan and not the amount of the market. This company is a joke. If I could give this Central Mortgage Company ZERO stars, I would. They never work with us, so when you read that "we strive to be your financial service provider". be careful, Don't believe it.
by Anonymous From Las Vegas, NV on January 29, 2009
Why don't we all get together and filed a formal written complaint against this company? There must be a law against the way they do business! They lie to people. They deceive people into believing they are getting help and then turn around and foreclose.There is even a $1000 fee for the modification.
by David Lutar From Statesville, NC on January 28, 2009
Central Mortgage never worked with us. We worked through thier lawyer who could not help us at all. Phone calls were never returned and when I did speak with someone they were very rude to me and asked for documents I could not produce. Very unhappy with them.
by Anonymous From Culver City, CA on January 14, 2009
why have you all not contacted the ATTY GENERALS in your respective states and the ATTY GENERAL in ARKASAS? If they get enough complaints, they will investigate! And the insurance companies DO NOT want to see THEM snooping around!!!! We just got sold to them, and after reading this, I am scared to death!!!! lil
by Joe Turner From Belleville, IL on January 04, 2009
by Joe Turner From Belleville, IL on January 04, 2009
by Joe Tirner From O Fallon, IL on January 04, 2009
I guess I should have expected the negative comments on the site of "foreclosure specialists" Our loan with Flagstar Bank was sold to them and we have had NO (ZERO) problems and nice conversation with people with a Southern Accent to helped us each time we called. Of course, we are on "auto pay" , and thus have never been late We have had the best (lowest rate) possible since 2005--lwer than the best rate by the Fed now. However we are about to contact them about moving from a five year arm to a 15 or 30 fixed, so this could all change. Good luck to the others, but I can assure you from PAST EXPERIENCES that most mortgage service companies act the same. You need to find out the name of the COMPANY WHO ACTUALLY OWNS YOUR MORTGAGE. It will not be Central.
by Anonymous From San Anselmo, CA on December 18, 2008
If I could give this Central Mortgage Company ZERO stars, I would. I, too have my mortgage sold to them. Every year they say they don't have my insurance papers and I have to do several hours of work and frustrating follow up to make sure they don't add on their 8K/year insurance. I'm now trying to get a loan modification and just getting the run around. From now on, I will only deal with real bank mortgages. I cannot say enough bad things about this company. If people know which authorities to file a complaint with, I'd love to know. Thanks.
by Laurie From Napa, CA on December 12, 2008
I too have contacted a Lawyer, I was told they would not look at a restructure of loan (my payment tripled!) unless I was delinquent, that I ought to be happy I still had a home. After no longer being able to make the triple payment and eventually none at all as my other debts increased, I filed for restructure - nothing except a Notice of Sale taped to my door to happen in two weeks. This company pretends they care and want to help, they ignore you, they don't return calls, they don't respond in anyway. Ugly situation, I'll be losing my home and it's totally unessary. The sad part is where we live I can't afford rent on a home big enought for the 6 of us.
by Bill Panzer From Suwanee, GA on November 24, 2008
Contacted them through their web site 7 months ago to switch from an adjustable to a fixed rate mortgage, never got a response back.
by KKT From Newbury Park, CA on November 22, 2008
Their web site is the worst.Never update. I can not find my record from their web site. When ever I log in to my account, it said a message has been send to my email and I have to go from there. But I never received any email message from them. I submitted again and again, they never response. SUCK!
by KKT From Newbury Park, CA on November 22, 2008
Their web site is the worst.Never update. I can not find my record from their web site. When ever I log in to my account, it said a message has been send to my email and I have to go from there. But I never received any email message from them. I submitted again and again, they never response. SUCK!
by potential home owner From Cottonwood, CA on November 21, 2008
We have been in negotiations to purchase one of their REO's which has been on the market for more than 6 months. They wait forever to respond to offers and then more than 3 weeks pass before we get them to sign the acceptance papers. We are nearly 60 days into a purchase which should have taken less than 3 weeks total. We have given them 48 hrs to get their paperwork done or we walk. Terrible!
by Anonymous From Upper Marlboro, MD on November 20, 2008
by Anonymous from San Leandro CA From San Leandro, CA on November 12, 2008
They say we are 6 mos behind--we have made partial payments. Can we use the Freddie Mac Bailout? If any one knows and can post that would help. WE also were sold into this loan co. and recently found out they are a division of Downey Loans. No one has responded since we submitted our hardship paperwork 3 mos ago and get irritated when we keep calling. Keep documentation of your calls--I am sure we will need it one day. Sounds like they are going to let our home go into foreclosure as well. The notices keep coming and they keep saying don't worry about it. Right!!!
by Christopher Reinhard From Phoenix, AZ on October 18, 2008
by Jhoy From Chula Vista, CA on October 16, 2008
Finally my loan modification is finished after battling with them for almost 4 months. It's really my fault because I have not responded to them on time. When I had forwarded all the docs it took them 2 weeks to finish it. It's really a matter of responding to their request. Call them all the time and make sure when you send them something you need to confirm. Follow up is very important. I addressed my frustrations because sometimes they never returned my call. If possible to get the person's name. As far as I know, they always update your record everytime you're sending something or calling them.
by Jhoy From Chula Vista, CA on October 16, 2008
Finally my loan modification is finished after battling with them for almost 4 months. It's really my fault because I have not responded to them on time. When I had forwarded all the docs it took them 2 weeks to finish it. It's really a matter of responding to their request. Call them all the time and make sure when you send them something you need to confirm. Follow up is very important. I addressed my frustrations because sometimes they never returned my call. If possible to get the person's name. As far as I know, they always update your record everytime you're sending something or calling them.
by Kerry From Queen Creek, AZ on October 15, 2008
My loan got sold to this bunch of crooks. My payments more than double prior to the timeframe I had been promised and when I secured a loan with another company I got stung for about $100,000 in interest so because I had gotten the othe loan 4 months before my 2 year period.
by Worried From Covina, CA on October 14, 2008
Where to begin...first of all we did not choose Central but were sold to them. We contacted them over 6 months ago to ask for a loan modification plan and the reason their reps don't know anything is because they just answer calls but have absolutely no power. We submitted all of the paperwork (lots) they required and they agreed to accept a "good faith" payment from us for the last several months which we have made on time. We initially actually made three of the new astronically high payments until we realized that would eat up our savings in a matter of a few months. We called every week and got the usual "they are working on it" and because we were still making some payments we were frankly on the bottom of the list and those that were in foreclosure were getting help first. They finally came back with a loan modification plan (verbally because they refused to put in writing) that seemed to good to be true to both my husband and me. They then said we didn't need to bother making our Oct payment because there was enough money in our acct and our "new, modified" payment would start in November so we didn't. My husband has been calling since we haven't heard back and they said the loan modification was resubmitted to their investors (the first plan was rejected), but just yesterday we received via certified mail, their official forclosure letter. My husband called today and was told not to worry about the letter that they have to send those out by law, but that they are still working on our loan modification, not to worry. Well we are worried and think they may have been stringing us along until they simply foreclose on us.After months of continuing to pay at least half of the payment, we think we're getting foreclosed on anyway. All they had to do from the beginning is tell us they would not do a loan modification and we would have had all these months to seek other financing/refi. We are angry and calling an attorney as well.
by Anonymous From San Diego, CA on October 06, 2008
First of all, I think the last entry had to come from someone who works at Central Mortgage Co, because it is so unbelievable. YES, This company is a joke. I agree with most of the responses. We did not chose them either. Just very difficult to work with...especially when your proactive like myself. Too much to complain about, just stay away.
by Susan Levy From Culver City, CA on September 29, 2008
Our mortgage payments have been on time for several years, so we have never had to Central Mortgage for any reason. They send the new payment coupon book on time.
by Anonymous From Medford, OR on September 24, 2008
by Anonymous From Los Angeles, CA on September 18, 2008
My mortage company needs to be more educated on comprising on helping people stay in their homes. Even when they have to suffer some loss in helping others get relief. Otherwise, the homeowner and the mortage company will take losses.
by Deacon From Los Angeles, CA on September 18, 2008
Central Mortage should be on the bandwagon of helping people with relif. It's unfortunate their pushing the plate to demand full price, pushing client's toward forward because, they think they'll profit because, when it gets to that point the house has lost it's value. Unwilling to work with a government program approved by the senate and our president regarding the housing is issue is a blatant act of non-compliance to be of good service for it's consumers.
by Anonymous From North Las Vegas, NV on September 15, 2008
They have advised us in order to be helped we have to be delinquent on our payments we did that. As of today we had no help. I've called to assist us on saving our property they stated that I need a letter from a friend or family member stating that are giving us $3,700 as a gift then they can help us. I advised them that I would not provide any letter that would be consider lying. This is our second property and so far we had no help from any lender. We have used all sources to safe both property and we had NO HELP from anyone. All they tell me is to put my house for short sell. We have lost one property to foreclosure I don't want to lose another house.
by DMH From Mchenry, IL on September 15, 2008
We are in desperate need of help to lower our payments. I have called and asked for help from anyone that would listen to me at Central Mortgage Company and nobody will. I guess their policy is to wait until people lose their home and then see if you can do anything. And to think, we have never had a late payment.
by Leticia From Brentwood, CA on September 11, 2008
Looks like they dont want to sell their foreclosures, they dont respond to offers, i wrote an offer on a house 40 days ago and they still have not responded.
by Laura From Flowery Branch, GA on September 04, 2008
My mortgage was transferred to them. I don't know enough yet to really comment, but I must say that the previous posters make me very nervous. I just went through everything they are talking about with Countrywide. My only advice is not to jump from the frying pan into the fire.
by Anonymous From Winchester, KY on September 02, 2008
by chie sanchez From Casselberry, FL on August 25, 2008
by Sue Barker From Womelsdorf, PA on August 19, 2008
Here's an update to my previous message of 7/9/08. My mortgage is current and I should be in good standing with Central Mortgage. However, I am now receiving solicitations from legal offices to help me with my foreclosure proceedings. Central Mortgage says NO, but I'm afraid they have sold my information to these lowlifes that are preying on people with financial difficulties. BEWARE.
by Garth From Burlington, NJ on July 15, 2008
Worst Company. They remove your option to pay online if you are one day late.
by Sue Barker From Womelsdorf, PA on July 09, 2008
My mortgage was sold to Central Mortgage in 2004. They have consistently told me they don't have the insurance paperwork and threatened to charge outrageous premiums, even when my insurance company tells me the rider was faxed to them. Now, when I've been having a little difficulty financially, and trying desperately to get caught up, they RETURNED a payment for May '08 that they received 6/23/08 because it wasn't for the full amount due(May + June). I didn't find this out until yesterday when I received two certified letters (one to my husband and one to me) telling me they were going to foreclose. When I thought about it and checked my payments I realized that it wasn't even 60 days late. I called to find out what was going on and they told me I was 3 months behind. That's how I found they had returned May's payment. I mailed June's payment 7/7 and just before sending July's when I would have been current, their action made the account later than it was. I always include the late fee when I'm late and when I'm not late I send a little extra. Now I'm wondering where that extra money has gone? And now that they returned May's payment, they made me 60 days late. Ms. Sheila Johnson told me they returned the payment because they had not been able to contact me. I had to agree to make two phone payments (she did offer to waive the $10 fee) so she couldn TRY to get the accounting dept to accept my payment that is in the mail. Then she said it was because the payment was not for the total amount due (May & June). What kind of nonsense is this that they return a good payment? Which then made my mortage later than it actually was. I was near tears before I got off the telephone with her. The whole thing made me feel like the vilest deadbeat that ever lived.
by Anonymous From Dana Point, CA on June 22, 2008
kept loosing our paper work & telling us to resubmit. Never returned phone calls, kept transfering us from one person to the next. No one ever knew anything. Totally disorganized, unprofessional.
by Daisy Prieto From South Gate, CA on June 17, 2008
by Shaena DeBok From Boulder Creek, CA on June 12, 2008
I have only dealt with them through a real estate agent that has one of their bank properties listed. Apparently they don't want to sell this particular property because they countered back at full price.
by Tony Acosta From Chino Hills, CA on May 27, 2008
by Bill From Greenfield, MA on May 08, 2008
Never return phone calls. Very frustrating and unprofessional.
by sherry gillum From Kissimmee, FL on May 07, 2008
never return phone calls, wishy washy,
by Anonymous From Metairie, LA on April 25, 2008
The absolute 'WORST" Continues to raise our mortgage premium and attempt to "steal" our money. This is criminal! We will file suit and contact our elected officials. However by now, you're finding out as we after the fact. Was sold off to them by Quicken Loans. Their represenative Patrick Connelly should be behind bars for his unscrupulous business practices and lack of ethics.
by Stacy From Anoka, MN on April 22, 2008
I have been trying to work out a payment plan since November 07' when I was consistantly one month behind, I have been w/ them for 4 years. The first paperwork wasnt thiers, it was from Mortgage Outreach which is a company that Central Mortgage contacted on my behalf to work out a deal, that paperwork was denied and they sent me to Forclosure. I call them all the time and they say were working on it. Nothing yet, and that's only when I can get a hold of someone. Catina Gilbert in the Forclosure dept wouldn't even talk to me she said talk to the attorney's. I left work histerical having an anxiety attack and went home and spoke to someone else and they said she didnt know that they could do repayment plans and to resubmit the paperwork again. Damn it. Im getting further and further behind. LIke I said I started this one month behind in Nov 07' and they havent accepted any payments since then and I keep calling them. I finally told them if they dont call me I will have to file Bankruptsy. I will not let this co. Screw me out of money that I paid on this house to end up w/ nothing. this is the worst company I have ever dealt with in MY life. I didnt chose them. My mortgage was sold to them when I took out the mortgage. I recommend stay away from them. They dont care about their customers.
by Anonymous From Palmdale, CA on April 18, 2008
Whatever you do - don't let your insurance lapse because they will charge you outrageous fees for so called forced placed insurance.
by TERRI HUDSON From Lawrenceburg, KY on March 13, 2008
by Anonymous From Rocklin, CA on February 28, 2008
by Amy From Reno, NV on February 07, 2008
Central Mortgage has got to be the WORST company out there. Ive asked for assistance twice, both times denied....now my home is going into Foreclosure. Sad, very Sad they could not keep my payments from adjusting....I would not be in this mess if they had.
by Anonymous From Union City, CA on February 02, 2008
This is the worst Mortgage company I have ever dealt with in 20 years! They do not return phone calls, nor acknowledging receiving faxes, or emails. They seem to conveniently not receiving and giving assistance to restructure your loan. They seem not to care that people are loosing their homes or about to. VC
by Vinh C. From Union City, CA on February 02, 2008
Central Mortgage Company seems to conveniently and consistently saying that they never received my letter, my email or my faxes. Finally I got a hold of someone there and made him acknowledging by phone call that they did receive our financial worksheet for restructuring our loan in Jan08. Now starting Feb.1 08, the loan adjuster never returned my calls nor email. This is the WORST Loan servicing company that I had ever dealt with. They are saying that because we are not late or in default yet. In another word, do not go to see a doctor yet if you are not dying! Vinh
by Frustrated From Antioch, CA on January 22, 2008
These people are the WORST!!!!!! I have not dealt with a competent person yet!! Marianne from AZ is an idiot, these people have NEVER serviced my loan correctly, and they don't seem to care at all. I have filed reports with CA & AR banking authorities, believe me, they will pay!!!!!
by Anthony Browne From Saint Paul, MN on December 11, 2007
They were willing to work with us on a repayment plan when we fell behind on the paymewnts
by Anonymous From Aptos, CA on September 14, 2007
I hate the idea I have to deal with them on a monthly basis. They hang up on you and claim not to receive phone calls and faxes from my insurance company!
by Marianne Stull From Phoenix, AZ on August 21, 2007
I have been working with Central Mortgage for over a year now.I have had nothing but excellent service.Our members say the same thing.There servicing department is the best.
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IMPORANT NOTICE – PLEASE READ There is no guarantee you will receive a loan modification. Even if you accept this offer and use our service, your lender may not agree to change your loan. Loan Modification approval is dependent on criteria including but not limited to hardship, income, debt ratios. American Foreclosure Specialists is not a Bank, nor a government agency or government affiliate. Our services are not approved by the government or your lender. American Foreclosure Specialists assists in the document preparation, working with and communication with your Mortgage Bank in the attempt to acquire an approved Loan Modification. If you stop paying your mortgage, you could lose your home and damage your credit rating. Loan Modification Plans are dependent upon mortgage company criteria and financial information gathered as part of the efforts of AFS. The information and notices contained on this website are intended as informational and should not be regarded, as financial or legal advice. AFS attempts to ensure that the material contained on the website is accurate and complete at the date first published, however you should recognize that information contained on this website may become out of date over time. Readers who have particular questions regarding real estate law, finance, or who believe they require legal counsel, should seek the advice of a financial advisor or an attorney. Submitting a contact request, gives AFS consent to contact you by telephone and/or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.