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I am a victim of PHH Mortgage’s bad business model. I have waited for 9 months for a short-sale to be approved on my home and now PHH has sent me into Foreclosure. I want to change PHH Mortgage’s bad business model with your help. Leave your comments and ideas here and lets see what we can do.
Stop PHH Mortgage 
Jody said
PHH will not allow us to make payments to catch our mortgage up. They have put a forebearance stop on our account. The Forebearance package basically says after we pay a reduced amount for 6 months , even if we pay all that we owe them, they can still call our entire loan due. It also states they do not have to do anything else to help keep us in our home. They denied our modification based on innacurate information and the forebearance is all they have offered, but they will not take our money.
theadamsparty said
They won’t even let you make payments? PHH will never do anything to keep anyone in their homes, they just play games.
t bryan said
yes,after talking to 5 different reps i applied for modification via phone late october. no contact, no response. just received a application for modification december 11, dated november 14. what!?!?
Janice said
Exactly. Same thing here. We received the pkg a month after it was dated. Oddly enough, it required we send in a,b&c on the day before it arrived to us. To make it worse, it is the second pkg they sent. We had already made two payments under the first package they sent. It’s now been 5 months into this program and I am so worried a notice to vacate will arrive next.
E. Fry said
Ok… I knew I wasn’t the only person getting the run-around from PHH. I’m on the phone with them daily receiving different answers from different people everyday. They told me that all proceedings to “sale” were halted while we were being reviewed for HAMP. That was a direct quote from their lawyer yesterday. However, today I received mail that my house is slated for sale in 30 days. I called them back today and they said that the answer that they gave me was as of yesterday – today is a new day. When I called the law firm who filed the preacipe to the courts they seemed to understand all too well what my complaint was – as if this is happening with PHH accounts more and more often (in fact the legal assistant that I spoke with all but said that to me). Still, they work for the company as the plaintiff and there was not much they can do without the company’s approval. Everyone seems to be sorry and understanding, but still there are no results. How do we fix this?
Kelly said
Hi there,
We had to move a few years ago and our primary home became a rental property. We’ve since suffered many financial setbacks so we’ve started the short sale process. We were given some forms to fill out last week. We had to state why we are having financial difficulty and list our monthly expenses. We called today to get an update. We were told that the approval process will take a month, but if we have an offer in the meantime to submit it via fax.
I was just wondering if anyone has any experience with the process? Our loan was a refinance. Since NV is a recourse state, how will the affect us?
Cindy - let me buy a short sale said
I’m a buyer who is extremely frustrated with PHH Mortgage.
I am under contract for a short sale and am nervous about my offer getting approved by PHH Mortgage and closed by the June 30th deadline so I can take advantage of 1st time Homebuyer credit program. We are in constant contact with PHH Mortgage with no luck and no straight answers. How are Americans supposed to help the economy recover when houses are not released? I’m open to telling my story to anyone who will listen. I’m ready to buy and need someone to let me!!!
teresa said
DO NOT GO THRU PHHMORTGAGE !!! my daugter and sonnlaw purchased a home thru them 1 year ago, all of a sudden without notice they started receiving their payments back from PHHM, When my daughter called to find out why she was told she would receive a letter explaining that was 4 months ago and still no letter and the payments still are returned. then 3 weeks ago a man came out and served papers on them that their home was being foreclosed on for not making the payments, the kids have troed everything they can think of to stop the closure but now it is slatted to sale on 11/01/10. These kids hvae put so much into this home it is now worth twice as what that paid for it onlt to have it stolen from them.
Nicole said
Hi my husband and I have an offer on a short sale which the sellers approved and it has been more than 60 days and no word from PHH MORTGAGE CORPORATION in regards to weather they approve the offer. We are stuck in limbo because we have to move out of our current house by the end of march….How long did it take for you? & once approved by the bank how long to close?? Would appriciate any answers..Thank you Nikki & Johnny
Elizabeth said
I sent PHH two sets of paperworks and while I was waiting for a response over 4 months, I receive a letter informing me that my application was incomplete.
This is ridiculous. Twice I sent them information with my SS number and bank statements and the “alledgedly” lost the information.
I though the law requires all legal entities to secure customers’ privacy.
Shlee said
I just sent in my paperwork last week regarding a deferrment, loan modification or short sale. Really worried about what’s going to happen with PHH and this process.
Cheryl said
I’ve had a pending short sale with PHH since April of 2009. It is STILL pending, a year and a half later. Within that process, we have lost three or four solid offers and had to start all over again due to their slowness/lack of response. They give my agent the run-around and when I push my agent to push them harder, he is reluctant as he is under the impression that our packet is put at the bottom of the stack from the pressure.
These people are HUSTLERS and CRIMINALS. They’ve listed our house on the sale block TWICE and we have had to request that it be pulled due to our pending short sale. I can’t even tell you how many times we’ve provided documents and paperwork, to be given the impression that they’re close to approving, only months later, to lose the buyer.
The first time they reviewed an offer, they conducted the appraisal and said it was worth $100k more than the offer!! Insanity!! They COMPLETELY over-valued the property and stated that they will NOT approve any offers until they reach their appraisal price, but no one with any sense would touch it with a ten foot pole. I don’t know what to do. I refuse to foreclose because I want to take the best option out of a bad situation and eventually want to own again one day. This drawn-out delay is delaying the recovery of my credit, and I feel that this is exactly what PHH wants. To punish those that are trying to do the right thing in bad times.
Good luck to all who are working with PHH – I’m really interested to hear if they’ve even approved any short sales, and how long people have been waiting for their approvals.
ClifRa said
PHH, Unethical, Bad Business Practices? Wait a second, who has not paid, cannot pay, the mortgage you lawfully agreed to pay? What law, provision of you mortgage agreement, etc. says that the mortgage company has any obligation to approve a shortsale, renagotiate your mortgage? I didn’t see one in my mortgage paper work. It looks to me like PHH is the victims here. They took the risk on you and you turned out to be the bad risk. They will/should do whatever is necessary to reduce their loses so that those of us that pay our mortgages will still have a quality company to do business with!
ToClifRa said
Give me a break! Quality company to deal with? If in trouble they will file for bankruptcy protection so fast it will make your head spin. They will get full protection from creditors under the law, renegotiate(read default) their debt for pennies on the dollar and continue to do business. It is easier for them to let the properties go into foreclosure. They get to write off the loss AND collect cash from any sale. If they agree to a short sale the write off is less and the paper work and total costs are more. It’s pure business. Maybe if the banks didn’t lend money to people who did not deserve loans in the first place we would not have this problem. Up until recently I could pay my mortgage but the guy who bought the place next to me couldn’t. He was a nice guy, he should not have bought but–HE SHOULD NOT HAVE HAD ACCESS TO THE MONEY IN THE FIRST PLACE. The greedy banks figured out they could repackage and sell the debt and ultimately the risk then they sold insurance on the repackaged debt as well in the form of CDS’s. So they look the other way and stick him into a loan with ridiculous terms, he couldn’t even speak English. His fault? To a point. The banks fault? Absolutely. I recently lost my job. PHH holds my mortgage. We can’t afford our mortgage now. My wife and I would like to downsize. We can’t because we are underwater. So we are trying to deal with PHH. They are doing everything they can to not deal with me. They send me back and forth from department to department. I am trying to deal in good faith with them. They tell me to apply for HAMP. So I do. I qualify, I can do the math. First they say I did not complete the application, I did. Then they blatantly misfile the application. They say my household income and mortgage come in at 32% THEY LIED. They used their numbers not mine. How is that ethical? I have the numbers right in front of me. They used numbers that ensured I would not qualify. I don’t see them as victims, obviously you know very little about law. Everyday HONEST businesses re-negotiate debt, debt that they originally agreed to pay. Happens all day every day. No one complains about that. All the big players in this mess got bailed out and they get to continue to do what they do, and that’s rake in money by the billions and you, ClifRa, get to pay their debt off. Enjoy.
Melody said
I am one of those who made a promise to pay for my home. And I wanted too! My husband however lost his job, then we lived off our credit till we couldn’t anymore, then my husband got another job and just when things were going better and we were still hanging onto the house the warehouse closed!No job!!!! Again we were devistated and thrown back!
Again we were getting further and further in the hole moneywise. At this point we had run out of credit and could do no more to hang onto our Beautiful home. A neighbor stepped in to buy the house for us and us to pay them instead of PHH Mortgage. We at this time were thrilled. They called up the mortgage company and offered to buy it and PHH turned down all offers! They wouldn’t negotiate at all. They were offered cash in full for the worth of the home too they wouldn’t take it! We both lost it. We thought we could hang on and catch our payments up when our Income Tax came in. Well, it came (we had called the company when we first missed a payment and they said they would not add it to the end of our term nor had any other way for us to pay them but in full). So we waited until the income tax got there and called them again to tell them we could now catch up all those missed payments to keep our home. And they said NO…Now we want 12,000.00 instead of the few house payments. They sent it to us in writing that if we did not clear up the payments, lawyer charges, and now future payments they wanted we could not keep our home. (Get that future payments now..)
We didn’t have enough even with the tax money! And the person who had offered them cash for it now had terminal cancer and could no longer offer us any help they had to use their money for their family which was more than understandable under their circumstances. So we ended up letting the company have the house back but in the best way we could. We knew we had done wrong buying a home, signing papers then failing to fulfill our end of the obligation. But on the other hand… How come they wouldn’t work with us to keep us in this home lower our payments enough that we did not have to move? We would have gladly paid them for a longer term all over again, anything, we would have done anything we loved that house so much. But they would not work with us at all, nor answer our calls, nor accept any other negotiations. I would say its sad customer service, and a sad company. (Then we were served with papers that we were being forclosed on) I think a mortgage lender should be for the family not against them.
It devistated us, we broke down, cried, died almost inside. So the beautiful home we had raised our child in and all she knew was gone. And if we stayed in it we had a chance to be given a 24 hour notice to be removed from it. If it went that far we would lose all we had with it. I had watched the television and cried for all those who had lost their homes too. I saw those people who couldn’t walk or up in age sitting outside their houses on the streets. I wasn’t about to let this happen to my child! We paid up the association fees, cleaned the yard up so we wouldn’t be fined leaving it, we left all the appliances and things that belonged to the house, then we moved out. Once we moved out we continued to watch the house so it wouldn’t get broken into. I emailed the company since they never responded to my calls, (Even the lawyer who was on the foreclosure papers never answered the phone calls all we could do was leave messages) and told them we were out of the house and to let me know how to give them the keys. They came out to the house and just changed the locks in about a weeks time! I only found out by stopping to check on the house. After that I didn’t return to watch it any longer it was their responsibility. I realized then it wasn’t ours anymore, and I couldn’t fight that. I didn’t have the money for a lawyer nor did I think I could win. After all all the loans we took out, all the credit we used up was our own fault, we mis handled our money and our lives, until all was gone, just trying to hang on to something that really wouldn’t be ours we had bought into a home that we were upside down in now. We had done all the wrong things by remodeling it, and fixing it up not worrying about our future in it. We thought we had everything going for us. But Life hit us in the face, you can’t take things for granted thinking they will always be there. My husbands job gone, who would have known? You just don’t. Here I think if only…if only that 1600.00 payment went down to the 900.00 payment we now pay for rent we would still be living in our wonderful home.
So instead of playing the blame game I accept we were in over our heads. I gave them back what we could not keep that belonged to them. We moved on, we have survived the heartbreak, we are trying to keep our heads up. Trying to start over. No, we aren’t filing bankruptcy we would much rather try to slowly pay off the debts we have made even if it takes some time. After all we did promise to pay for them.
I think the sad thing is that we have to wait three years to ever own a home again. I think if we are trying for a lower mortgage home than what we had we should be given the chance to prove ourselves. So we are not over our heads but living within our means, why can’t we? It wasn’t our fault PHH didn’t want to work with us. Why can’t we so we can afford to pay those we owe and bring the economy back up some? Instead lenders keep the homes empty, and they get broken into, and people are in tents, on the streets, with friends, and so forth. How is this going to help? How do we bring the economy back this way with new jobs or credit cards companies maxed, if we can’t get back on our feet? I think someone needs to change this situation to put families back where they belong in a home of their own. When you own you tend to care more about the property and neighborhoods. The neighborhoods would come back too without the riffraft. Doesn’t happy families bring more money to the economy than sad ones! My heart goes out to everyone in these situations, but take it from me, its slow going but hang on there is a tomorrow after the storm. I think companies need to step back and take care of “family” no matter what company. We have forgotten that “family” is after all what keeps them in business!
We are broke, no home, but we are together through it all, PHH couldn’t take that!
Kyle said
I live in Illinois and I am trying to buy a short sale through phh in Illinois. Phh is the only loan holder on the home and the selling broker is related to them Coldwell Bankers. I put down an offer with earnest money back in October of 2010 and this dead beat of a company (PHH) hasn’t even had the package assigned to a negotiator yet. Four months and the short sale package hasn’t even been looked at. From what I have been told there is nothing that I can do to speed this process up. If anyone has any ideas how I can speed this process up that would be great. I am not tied to anything either clean overly qualified buyer. Not just to help me get the house but to help the seller get out of the house before they foreclose. This is a poorly ran company and I would advise any and everyone to stay away from them.
chris turkington said
Can’t get answers to my foreclosure from phh mortgage on what there doing with my home I need a answer don’t want to be homeless I have kids
Laurie Johnson said
The same thing happened to us! They told us we would be gonig int he HAMP program and not to make payments, they put us off for months and then slammed us with interest, etc. that we can’t pay..now we are losing our house…how can they do this? lbcmjohnson@yahoo.com
Megags said
Please check the laws on foreclosure for your state! Read up online about foreclosures the buyer has rights. Go to court when summoned, most mortgage companies when by default when you don’t show up I believe! Pass the information to everyone you know. Good luck and best wishes.
Erika said
Now I am not sure what to do. We put in an offer on a property that is a PHH short sale. The listing agent has told us that the numbers look good to him but until it is approved by PHH who really knows. After reading all this information, I am beginning to think that we will be sitting and waiting for months to see if our offer is approved. I hate to lose the property but who wants to wait that long and possibly lose out on something else.
Dexter said
(+) PHH was very helpful with my loan. Well recommended lender
LD said
Details please Dexter….was this a modification? Am interested to hear any successful stories..