Class Action Suit filed against American Home Mortgage

Aug 1, 2007 | Posted by: roboblogger | Full story: Broker Watchdog

Lerach Coughlin Stoia Geller Rudman & Robbins LLP today announced that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers ... via Broker Watchdog

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William Miller

Baltimore, MD

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#1
Aug 1, 2007
 

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AJM isanother Enron. I own shares. It is time for criminal action. News was withheld. Lies were published. The SEC will do nothing except approve back dated options
Just Me

Lincoln Park, NJ

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#2
Aug 1, 2007
 

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I just heard a rumon that the great Michael Strauss was taken out in handcuffs... if its true its certainly due to this whole trading fiasco... or just a guess tapping into warehouse lines for personal use? i worked for them on 2 occassions and know strauss from many moons ago and wouldn't put a thing past him... yes another enron no doubt
Former Employee

Indianapolis, IN

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#3
Aug 1, 2007
 
Just Me wrote:
I just heard a rumon that the great Michael Strauss was taken out in handcuffs... if its true its certainly due to this whole trading fiasco... or just a guess tapping into warehouse lines for personal use? i worked for them on 2 occassions and know strauss from many moons ago and wouldn't put a thing past him... yes another enron no doubt
What's the source for the arrest rumour? Is this credible? Does anyone else have anything on this?
Observer

Beloeil, Canada

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#4
Aug 1, 2007
 
I am fairly certain such an occurrence would have been featured prominently in all major media outlets.
Former Employee

Woodhaven, NY

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#5
Aug 8, 2007
 
Its not just Strauss who is a bad guy at AHM, he was just the biggest bad guy. The lawyer he used for years was in on it too, lawfirm is Cadwalader. Most of the acquisitions AHM did were so bad for the company and shareholder value, but those guys pushed them through. The disclosure is also violative of the Securities Laws.
mmc

Elizabeth, NJ

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#6
Aug 21, 2007
 
Is the class action just for people who reside in NY I am from NJ and would like to know if I am eligible?
Former AHMer

Riverhead, NY

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#7
Sep 26, 2007
 

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"Its not just Strauss who is a bad guy at AHM, he was just the biggest bad guy. The lawyer he used for years was in on it too, lawfirm is Cadwalader. Most of the acquisitions AHM did were so bad for the company and shareholder value, but those guys pushed them through. The disclosure is also violative of the Securities Laws."
Yes and do you know who arranged and negotiated those acquisitions.. I have yet to heard if she has been included in any of these suits ...
Carlos Lindsey

Santa Clara, CA

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#8
Apr 30, 2008
 

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American Home Mortgage refuses to talk to me. I want to pay my mortgage but I can't without modification or restructuring the loan. They are forcing me to walk away.
Brandon FL homeowner

United States

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#9
Jul 17, 2008
 
what I want to know is when the law will just close the doors on this company and any other entities they own or use once and for all. Their time is coming and it will be soon. I to have AHM not by choice but because of the broker used in Tampa, FL which also went under a few weeks after then afterwards AHM files chp 11. It all became unblieveable then I was told my loan was okay no fraud or anything like that. Now the more I read and the more I do my own research it becomes clear that maybe they are the same as Stearn's and all the rest. Actaully IndyMAc hired former AHM employees not all but some and look at them now, they are under as well. PLus Stearn's was involved with AHM and he was arrested. How many more homes need to be lost before the LAW listens to the homeowners that were decieved by AHM and their entities. Who can answer all the questions for us. I have left messages for NY BBB no call back from, AHM no call back from them either. I bet when my lawyer calls them they will scramble for answers. Can they tell me if Deutsche Bank backed the loan they gave me?

Carlos Lindsey wrote:
American Home Mortgage refuses to talk to me. I want to pay my mortgage but I can't without modification or restructuring the loan. They are forcing me to walk away.
William and Tina Kaley

United States

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#10
Jul 23, 2008
 
American Home Mortgage refuses to talk to me. I want to pay my mortgage but I can't without modification or restructuring the loan. They are forcing me to walk away.
I have been calling them last six months, they are hanging up the phone on me, telling me pay or walk away.

I have neg-arm i can not afford to pay increase payment
Disappointed

Northridge, CA

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#11
Jul 23, 2008
 
AHM rep. mislead me when I got my loan. Worst is I even got othr., family members to refi. w/ them & we were all duped!!! They hang up & don't want to help. Their opinion is "leave the property & see if we care" & their CSR reps. have attitude.
Louise DeLucchi

United States

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#12
Jul 30, 2008
 
I'm yet another victum of AHM, I'm in Nevada City, Ca. I was referred to "The Broker" from my real estate agent and trusted the referral completely. Never were the risks nor the danger of this type of loan explained to me, I would never have signed it otherwise. Now, the real estate agent won't call me back, how interesting. The appraiser lowered my value a year later when I was trying to get out of this loan, only to have "The Broker" tell me that some times appraisers will lower the price if you go out of the area. This is the only home I've ever owned, I'm a senior and I was on SSDI. This home was built in 1929, and has some serious plumbing and other problems. I definately wasn't trying to move into a mansion. I went back to my broker a couple of times to tell him I wasn't happy about this and basically all he did was pat me on the head and told me to go out and make more money. He said I'm only worried because I didn't understand the entire loan, and he said after the loan recast, my principal would only go up $56,000, I'm sitting on prime property my home will triple by the time I want to sell. This is clearly a hype and it has happened throughout the U.S. AHM was making money hand over fist with this option arm business. They went banrupt 6 months after I took out my loan. I would love to get on a class action suit. I hope AHM doesn't get away with murder.
jay nc

Charleston, SC

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#13
Dec 4, 2008
 
Judges where are you; do good for common man is what Judges are to do right ? American home Mort.has left people no option . No work out, no nothing,who's investigating the investigators .ACCt #0003146544--American Home Mort.tried everyting to work this out.Lady told me don't bother me any more with this. Judges,Judges blue collar people like me deserve better from a system of the rich get richer ,poorer ,get poorer.We who have tried deserve a bail out to,Where' our 's SENATOR'S,Judges,Politicians,t hose who know we have been ripped off WHile CE OOO 's sit in aruba with that funny little drink with the Umbrella in it! Wher's our BAIL OUT?????
Geezerkatz

Harleyville, SC

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#14
Mar 25, 2009
 

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I believe American Home Mortgage Servicing Inc ot Irvine Texas is responsible for the death of my 45 year old son on Feb 15th, 2009! What they did to him is equivalent to manslaughter! Now all I have is dealing with what I allege is a criminal mortgage loan business, my son is not alive to argue his case. Some how some way this 70 year old will find a way to hold these bastards accountable, so help me God
Geezerkatz

Harleyville, SC

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#15
Mar 25, 2009
 
sign me up as a witness to testify at all criminal and civil tort actions against any/all AHMSI, AHM, any affiliates, accounting firms, members of the Board of Directors, foriegn "outsource employees who lie, cheat and steal from unwitting home owners, Officers, First and second tier executives, any and all who knew or should have known what this 2009 "ENRON/AIG" collection of barbarians at the Gates swindlers. If I can't nail them for manslaughter of my son I'll help anyone who can bring a succesful action against these bastards..Where are the DAs, the Attorney general...to put an end to this cancer eating the fabric of our USA?
Vince B

Prospect Heights, IL

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#16
Apr 1, 2009
 

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These bastards got me for thousands. I lost my job and was one month behind on my mortgage for two years. I requested a deferment and got nothing but some guy from India over and over. Finally they put me in foreclosure. I was past due 860 dollars. They trumped it up to 2300 dollars with "fees" and then when AHMSI bought my mortgage company I thought we were saved because they would modify the loan. It was 9000 thousand dollars to get out of foreclosure. AHMSI modified the loan by tacking on about 7000 dollars to my loan. Now they are calling me wanting 1100 more dollars for "services" the loan mod did not cover.
Now I cannot even refinance because the extra 8100 dollars they tacked on plus falling home prices have eaten up all my equity. WTF. Does this sound legal to you?
Geezerkatz

United States

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#17
Apr 1, 2009
 
It not only sounds ILLEGAL, but CRIMINALLY so...all manner of Federal/State and International Banking laws have been intentionally violated. I Know that AHMSI is largely responsible for my 45 year old sons untimely death. Once I have the death cert in hand I will be filing a claim of manslaughter in the death of my son. It will go no where but at least I am trying to nail these scumbag creeps at AHMSI!
chris-NJ

Sewell, NJ

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#18
Apr 7, 2009
 
Just found out yesterday that AMH froeclosedon a loan they bought form Citi on 2-12-09. We were in the modification process with Citi when they sold my loan to AMH-only contact we rcvd from AMH was a new modification agreement. We had to pay them $2200.00 by 3-27-09 and we were told new pymnt would start on 4-1-09. When we called to get a stmnt of where to send the 1st pymnt, we were told that that modification was denied and the home has been in foreclosure for a while. They took my $$$ never notified me they took over the loan. Now they want over $30,000.00 is foreclosure fees to save my home. Never rcvd ANYTHING stating foreclosure was started and now for every month the home stays in foreclosure they add on another $4000.00. We were only 1 month behind when this all started and now will be homeless with 2 young sons if we can't get help from anyone.If anyone can recommend where to turn -please let me know--I am desparate to save my home and AMH in UNWILLING to work iwth us at all---they vought a loan knowing that their ONLY intention was to foreclose on the property not to help me save it. How do these people sleep at night knowing they are destroying families
Geezerkatz

United States

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#19
Apr 7, 2009
 
Blood Sucking Vampires do NOT "sleep" at night!

Chris, your story is heartbreaking. My story is that AHMSI doing virtually the identical thing they are doing to you, is the cause of my 45 year old sons death. I intend to pursue a wrongful death action against AHMSI and any/all relates companies, brokers, reps, be they in Texas or in India. I have plenty of hard evidence that their actions created terror in my son and I now am convinced that caused his death. Obviously I am not discussing the cause of death at this time with anyone except attornies. 8760

If you want to share info with me I am geezerkatz@yahoo.com
Geezerkatz

Portland, OR

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#20
Apr 14, 2009
 
Is it my imagination or am I missing something...why aren't there more AHMSI/Option One, etc complaints appearing on this sitre?

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