Foreclosure Article


Horne Issues National Mortgage Settlement Consumer Alert to Arizonans

*Please be advised that the article below remains on the site for informational purposes only and may contain information that is no longer current.


PHOENIX (Tuesday, April 24, 2012)  --  As the National Mortgage Settlement between Arizona and 48 other states, the federal government, and the country’s five largest residential mortgage loan servicers goes into effect, Arizona Attorney General Tom Horne is alerting Arizona consumers looking for mortgage relief to beware of scam artists.

“Consumers should be aware that scammers are already using the media coverage of the settlement to exploit homeowners by promising quicker assistance in obtaining the refinancing, principal reduction, or cash payments available to eligible consumers under the settlement,” Horne said. “If you receive an unsolicited contact regarding the mortgage settlement, you need to protect yourself.”

Attorney General Horne’s alert includes these tips:   

  • Beware of anyone who claims they can speed up the assistance you might be eligible for under the settlement for a fee.  You will not be charged a fee to obtain relief under the settlement.
  • Beware of anyone who calls claiming to be from your mortgage servicer or the government and asks to confirm personal or financial information to speed up your relief under the settlement.  Neither your bank nor the government will ever ask for your routing number, checking account number, or other financial information over the phone.
  • You may receive legitimate mail from your servicer regarding the settlement if your mortgage loan is serviced by Bank of America, JP Morgan Chase, Wells Fargo, Citi, or GMAC/Ally.  If you do receive a call or mail regarding the settlement, examine it closely to determine whether it is from the same entity you make your mortgage payments to.  Scammers often use company names very close to another company to confuse and deceive consumers.  (For example, instead of a letter from GMAC, you may receive a letter from GAMC).
  • If you are unsure whether a caller is legitimate, ask for the person's name and title and tell them you are going to call your bank and confirm.  Make sure to use the official contact information listed below, not a number the caller provides.
    • Bank of America: 877-488-7814
    • JP Morgan Chase: 866-372-6901
    • Wells Fargo: 800-288-3212
    • CitiBank: 866-272-4749
    • GMAC/Ally: 800-766-4622
  • If you are looking to refinance or get a loan modification, remember that it is against state and federal law to charge upfront fees for mortgage-related assistance in most cases.

Consumers who feel they have been a victim of mortgage fraud, or who would like to report consumer fraud, may file a consumer complaint with our Office.  To file a complaint online, consumers can visit:www.azag.gov/consumer/complaintform.html

For more information about the national mortgage settlement, visit www.azag.gov/consumer/foreclosure/settlement.html or contact the Attorney General’s Mortgage Settlement Team at 602-542-1797 or 1 (855) 256-2834 toll free or [email protected]

To find out if you are eligible for relief under the national mortgage settlement, contact your mortgage servicer at the number listed above, or a HUD-certified housing counselor.

Attached Document


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QUESTIONS

  • I bought a timeshare in Nevada, but due to my husbands remission of cancer and my multiple sclerosis, we can no longer make the payments. If they foreclose on the timeshare can they garnish my wages in Arizona
  • I just received a notice saying I have to vacate my house that it was auctioned but I'm paying my house and I'm never late and company who say they purchased have other name as home owner not mine and my husband what is going on what can I do my house wasn't foreclosed bank says everything okay in there side how do protect myself how is possible for it to be auctioned
  • After my foreclosed property has been auctioned, how much time do I have to remove personal property?
  • The home we are renting is set to go to Trustee Auction at the end of this month. The "Protecting Tenants at Foreclosure Act" expired 12/31/2014. What are my rights as a tenant now that this has expired. Can I be evicted without notice..do I still have to receive ample notice if the new owner wishes to occupy the home?
  • I AM CURRENTLY RENTING A HOME THAT WAS IN FORCLOSURE BEFORE I MOVED IN AND KNEW NOTHING ABOUT. I SIGNED A 18 MONTH LEASE AND AFTER JUST TWO MONTHS, I HAVE TO MOVE OUT. IS THERE SOME LEGAL RIGHTS THAT I HAVE TO RECOUPE SOME OF MY MOVING EXPENSES AND DEPOSIT?
  • Can a second (junior) mortgage Deed of trust lienholder obtain a deficiency judgment against me. The Arizona single family home foreclosed Trustee sale on September 2nd, 2014. They are just now trying to get a hold of me. There is no way I can even afford to pay. Thank you
  • I'm a female, single,on disability,recovering from liver transplant and chemo treatments for a rare lymphoma. My HOA initated fore closure for non payment of Assn fees. Im trying to resolve this with hardship modification loan.My mortgage co is working with me. I'm on a fixed income and can't hire an attorney. Can the foreclosure process be stalled until I get this done? thanks
  • My house was due for a short sale. We had a buyer with good faith money down. The loan servicing company let the time frame lapse, did not respond to my realtor's requests, and sold the loan service subsidiary to Goldman Sachs the week after,and they took it to foreclosure. Now I have a lawyer for the HOA hounding me for $4000. The bank that owns my former property just listed it again for the price we ( my realtor and myself ) had it sold for originally. What do I do about the HOA problem? This was in Arizona. I am now living in Colorado.
  • The bank is foreclosing on a home that I am on the loan, however in our divorce decree there is a deed stating that I am not to get any profits and or be held responsible for the debts of the home, if he files bankruptcy will I have to do the same to keep the bank from coming after me?
  • What are home owners liabilities during foreclosure

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