Background of EverHome Mortgage
Have you ever heard of EverHome Mortgage? Well, It is actually a subsidiary of EverBank company. EverBank is among the leading banks in offering mortgage, investment and private banking services. EverBank in the first place started the business in Jacksonville, Florida in 1961. By that time, EverBank was formed by Robert Clemens and acquired possession of numerous bank divisions in Florida. Subsequently, EverBank and EverHome have grown to be a frontrunner in offering mortgage and banking servicing in Florida.
EverHome Mortgage focuses primarily on originating plus processing of house loans in Chicago, California and Los Angeles as well as all other states in America. The firm supplies a huge selection of payment options. Among the benefits that you can get from the firm including relatively low mortgage rates, online trading, business FX, FreeNet checking, deposit accounts, investment accounts, mortgage refinancing and etc.
However, if you use search engine to search for the keyword of “EverHome Mortgage”, you will get surprise that the first page of the search engine, at least 5 sites are people complain about the service of this lender. To my curiosity, I do ask from my relatives and friends to see if anyone of them been experienced with EverHome Mortgage, and in a short period of time, I have already having two negative stories to tell.
The first one is my neighbour said he has dealt with EverHome Mortgage 3 years ago. At that time he has problem with his home insurance and after a number of phone calls and notices from his homeowners insurance, EverHome did not pay off homeowners insurance coverage in a timely manner, which causing him to receive a new insurance policy that he has to pay for much higher price with less coverage.
He then been making a lot of phone calls and spend many hours to talk to the customer services but that is no help at all. He claimed that most of the time those agents just keep transfer him to another department to escape him, and sometimes the phone will end up returning to the department where he was initial calling. The typical answer that he received will be: “It is not our department to handle this kind of thing”. He been frustrated and make an attempt to switch to a non-escrow account, even he claimed that he can pay his bills on time but those agents just refused his request.
The greatest absurdity appeared to be the letter he received stating EverHome will buy his homeowners insurance at a very high price because they claimed that he doesn’t have insurance. He gone mad as the reason he didn’t have insurance coverage is due to EverHome has took his money but didn’t pay the insurance company, and now they are come to him to propose him such ridiculous suggestion. He ended up refinance his home and get rid of EverHome and swear that he will never deal with EverHome under any circumstance as he can see from what he been through that the company is full of incompetence agents that just waste his time and money.
The other one happen to be my colleague who was being fast tracked into home foreclosure with EverHome mortgage. After she pay off her home loan of $250, 000 over last year, she was 25 days late and the firm declined her payments except in case she caught up. Because of this, it makes her stuck into default and her home got foreclosure in 30 days. She then make an effort by asking for reinstatement amounts from EverHome but every time she called them the amount that she need to pay would go up.
Eventually she was managed to restore the home loan and she got impressed that the law firm could actually dealing with the debt easier compare to EverHome. She found she is lucky by went to law firm so that she can make everything worked. Hence, she advice me if I am thinking for getting a mortgage now, I better do my research meticulously and she would definitely blacklist EverHome Mortgage for the rest of her life.
EverHome Mortgage Loan Modification
After reading the two unfavorable stories, what is in your mind at the moment? To continue, I have notice that EverHome mortgage also offering loan modification. I have heard a couple of times in which choosing for a loan modification, then a second mortgage could be completely forgiven, or just need to settle for a small amount of money. If you wish to have your loan modified to current market value, you could make your fixed interest rate and also all arrears forgiven to distribute through the life of the mortgage loan. If you have been dealt with EverHome, You should never wait for them to start the negotiation but rather you should proactively ask them instead. Also, you should have them to include the second mortgage in the negotiations. Most of the time, you will find that a forbearance and loan modification would bring a great benefit for you if you do so.
LPS extends EverHome Mortgage’s contract
From the current press release of Lender Processing Services Inc. (LPS), we notice that the company has authorized a long-term contract extension with EverBank Financial Group Inc. which is the company’s longest-tenured mortgage loan servicing client.
EverHome Mortgage makes use of the mortgage package to automate all areas with the company’s servicing, which includes processing its over 430,000 first and second residential mortgage loans and also home equity loans.
LPS (NYSE: LPS) is a company headquartered in Jacksonville that offers integrated services and technology to the real estate and mortgage industries.
I further surf online for more information about this company and there is someone said that EverHome Mortgage and LPS has been investigated by the FBI for scams and fraud of documents to speed through home foreclosures in certain areas for a minor group of investors to rapidly acquire at far below already low prices houses. For some cases, the company even hastening foreclosure to get over closing dates as early as possible. Many have complaint that this is a serious fraud and can consider as a National scam which needs some attention from mass media.
What do you think about EverHome Mortgage? Do you ever having any deal with the company? If you have any thought that you want to share, you may just provide your comment here.