Stop PHH Mortgage

Lets join together to save consumers from PHH Mortgage's bad business practices

Archive for June, 2009

Baltimore’s Tale of Sub-Prime Woe by Matthew Price of the BBC (6/30/09)

Posted by CM on June 30, 2009

Baltimore’s Tale of Sub-Prime Woe by Matthew Price of the BBC (6/30/09)
{Dear BBC, I will pay a fee if needed!}

This story is about the city of Baltimore taking action against Wells Fargo for selling sub-prime loans to mostly minorities.  The story brings up an interesting avenue for action.  Lets see if we could work with our individual towns to find a way to get PHH Mortgage to work with us.  So, start with statistics about your town.  Does your town have an abnormally high rate of foreclosures and short sales?  Is there primarily one bank responsible? Is PHH Mortgage responsible for most of the defaulted loans? 

For example, in my tiny suburb, according to my real estate agent, there are 45 short-sale or foreclosure listings.  However I doubt that any of these are serviced by PHH Mortgage.  But, there could be a way to work with the city to curtail the defaults.  I will add more when I think of more actions.  If you have any suggestions, leave a comment or email at stopPHH@aol.com

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Posted in BBC, Foreclosure, Mortgage Service Providers, PHH Mortgage, Short-sales | Leave a Comment »

Better Business Bureau

Posted by CM on June 29, 2009

The BBB of NJ has 125 registered complaints against PHH Mortgage and grades them with an A+.

Posted in Better Business Bureau | Leave a Comment »

Paper Avalanche Buries Plan to Stem Foreclosures by Peter S. Goodman {found online, 6/29/2009}

Posted by CM on June 29, 2009

For some time now, I have read and listened closely to anything in the media relating to this current mortgage crisis.  Plus, I have written repeatedly to many people about Mortgage Service Providers, like PHH, in the hopes of shedding more light on what exactly they do.  So, I just read the following article from the New York Times today in which the writer actually mentioned “mortgage service providers” and have posted a link here. {Dear NYTimes, I agree that you should be paid for your work so if I need to pay you a fee to link to your article, let me know}

Paper Avalanche Buries Plan to Stem Foreclosures by Peter S. Goodman {found online, 6/29/2009}

Posted in Congressional regulation, Foreclosure, Mortgage Service Providers, Mortgage Servicers, New York Times, PHH Mortgage | Leave a Comment »

Class Action?

Posted by CM on June 19, 2009

I have read from other complaint websites that there is a yearning to start a class action lawsuit against PHH.  I think we can once we have damages.  For example, in my situation, once the house is foreclosed on and PHH sues me for a deficieny then I can counter sue with the evidence of all of my short-sale offers.  In essence I can say to PHH, “wait a minute, you could have had this money if you would have accepted a short-sale offer.” 

So, once you have damages, you may have a case. 

Also, to do a class action suit, we need to group into same situation cases.  So, those of you with trouble refinancing need to get together, those with foreclosure defiencies get together, those with disputed payments get together and so on and so forth.  Feel free to use this site as a place to convene or chose another but let me know so I can join a group! 

Lastly, I have hired an attorney and PHH has hired an attorney of their own for the foreclosure proceedings, but PHH’s attorney can’t even get anyone from PHH on the phone.  So, PHH doesn’t even speak to its’ own attorney! 

Oh yes, have I mentioned to complain?  Complain to the BBB, the Attorney General, your Representatives, the media….Keep complaining.  If you don’t have time to complain, I will do it for you!

{I AM NOT AN ATTORNEY!}

Posted in Foreclosure, Mortgage Servicers, PHH Mortgage, Short-sales | 8 Comments »

(Reuters) Fitch Downgrades PHH’s Ratings

Posted by CM on June 19, 2009

I can’t really explain exactly what the Fitch ratings are and if their ratings make any difference at all.  But it seems as though someone is paying some kind of attention to PHH and is downgrading them.  This should be good right?

Click here for article from Reuters from March 5, 2009

Posted in Foreclosure, Mortgage Servicers, PHH Mortgage, Short-sales | Leave a Comment »

PHH’s HQ’s are in Texas?

Posted by CM on June 11, 2009

After submitting a complaint with the New Jersey Attorney General, my complaint was forwarded to the Texas Attorney General.  Apparently PHH’s HQ’s are located in Texas.  Although their website states their HQ’s are in Mt. Laurel NJ.  So, send your complaints to Texas.  Also, send your complaints to the FTC, the HUD, and the BBB.

Posted in Foreclosure | Leave a Comment »