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I have an urgent need for a key contact in Loss Mitigation at American Home Mortgage Servicing Inc.

The internal contacts I have are literally the most incompetent people I have ever encountered in a financial institution or loan servicing company.

They demand paperwork, it is provided, then they demand the same paperwork after acknowledging the receipt of the previously requested paperwork

Then they just scheduled the trustees sale date of our home because the requested paperwork was not sent to the correct number even though the paperwork was Correctly sent to the number listed on their letter requesting additional paperwork. REALLY!

I know this sounds absurd but it is happening right now and it is happening to me with my home. The trustees sale date has been set for mid November.

I Need A Key Contact Who Can Review The Transaction And Correct Their Error.

My wife was literally been driven to tears of frustration this morning by their blind incompetence and lack of accountibility. We have very accurate records of the doc requests, timelines kept and errors made at AHMSI. I am looking into legal options to remedy but think it makes a lot of sense to reach out to the REOPro Community for the best alternatives to fix this.

While I expect most to ignore this post due to the lack of interest since "Who cares if another home goes down" but I am hoping that someone in REOPro reads this who knows a way to get me in contact with a person at AHMSI who can fix their mistake.

I know they exist because I know several who can do the same at BofA, Wells Fargo, and Chase.

If anyone has a way to help, I really need to hear from you right away.

Someone ones told me that numbers don't lie, but they can be manipulated. Here is an example, I just read an article titled "Foreclosure Sales Decline Second Straight Month" that makes it sound like it was good news for our market and our economy. I really believe that the numbers are right, but they are not telling an accurate story.

The reason foreclosure sales are down is because the active inventory of REO properties is down due to the robo signing and other factors. I can see that in the past 12 months 90% of the REO transactions have title delays. I guess after the freeze of last year, now title companies have decided to do their job and there have been several delays, up to 7 months for titles to be clear and settlements taking place.

At least in my market in Maryland, the REO inventory has shrunk from last year, I know some brokers have downsized their staff and are now pursuing other venues of revenue like short sales and multi-level network marketing ventures.

But lets face reality the amount of foreclosure files has increase by 1% according to the same article. When I drive around I can see several empty and unkept homes that I know by experience they have been foreclose or they are in the process. I know several "home owners" who still live in their foreclose home after almost a year of the auction date, because the banks are waiting on the courts for the foreclosure ratification, etc.

Lets face it loan modifactions and the lack of control on short sales is not stopping the foreclosure train, it is barely slowing it down. It is a sad thing, but I think there is foreclosure inventory for a long time.

Several lenders, including Freddie Mac, report more than half of homeowners who lose their homes to foreclosure never answer their lenders' phone calls or letters. Instead, homeowners feel embarrassed about being in default, don't believe their lender can help, and erroneously assume that contacting their lender will cause them to lose their home more quickly.

In a press release announced earlier this week, The Short Sale Association of America (SSAA) shared results of a Freddie Mac survey that reported "6 in 10 homeowners in pre foreclosure aren't even aware of the  programs and services available to help them prevent foreclosure."

The release urges real estate professionals to reach out to distressed homeowners, knowing it is highly unlikely they will seek out assistance on their own. 

Note: lenders are still behind the times when it comes to investment properties. They claim to have loan modification and other options for investors, but typically that is not the case.

Here are the basic eligibility requirements.

* The property is owner occupied.

*The mortgage loan is a first lien mortgage and originated on or before 1/1/2009.

*The mortgage is delinquent or default is reasonably forseeable.

*The current unpaid principal balanceequal to or less than $729,750.

*The borrower's total monthly mortgage payment exceeds 31% of his or her gross monthly income.

The lender must evaluate and offer a HAMP mod to borrower before consideration to HAFA options.