What's next for American Home Mortgage -

What's next for American Home Mortgage -

There are 20 comments on the Newsday story from Aug 14, 2007, titled What's next for American Home Mortgage -. In it, Newsday reports that:

Melville-based American Home Mortgage filed for bankruptcy a week ago. Its demise caused a domino chain of events, from shareholders' lawsuits to layoffs and the pending sale of assets to pay debts.

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Since: Aug 07

Yucca Valley, CA

#1 Aug 15, 2007
How do I file a claim against AHM/Homegate Settlement Services?
hudstyx

United States

#2 Aug 15, 2007
They deserve the same treatment as Martha Stewart: Jail time! All those people lost their jobs, because of their greediness (Strauss). Employees did not deserve that and Strauss should be forced to liquidate his funds & split it with all the employees!
wiv

Warren, NJ

#4 Aug 16, 2007
Employees did not even get the compensation for the unused vacation time...
Former AHM Employee 2

AOL

#5 Aug 17, 2007
No because they are worried about the $350K owed for furniture. This is vacation time earned by each and every employee regardless of how long they were employed, This should have been accelerated with the pay and not held back. No severance, No Medical, No warning in advance, that employees who have existing medical conditions could have spoken to their Doctor's to increase medication until they can get jobs or afford cobra - now punish the employees for their vacation time that some of us could not used earlier because we were too busy try to make out bosses look good each quarter with numbers.
Shame on you American Home. You belong in the Hall of Shame. I will contact Channel 5 Arnold Diaz and have them come to 538 to find out when and how the vacation time will be paid to each and every employee that was terminated.
to former AHM employee

United States

#6 Aug 17, 2007
As an actual finance professional, all I can do is laugh at people like you. I've been to AHM's offices. I've never seen such a group of smug, self important morons in my life. That wouldn't be so bad -- if any of you actually KNEW anything about finance. You were glorified order takers who relied 1000% on desktop software to do your job. If you had to actually UNDERWRITE, you wouldn't have the foggiest idea how. You had your moment in the sun. You made pretty good money for a few years( bet you saved NONE of it) and now you can go back to selling cars or encyclopedias or whatever it was before you fell into a "career" in "finance" by default. Good riddance.
To the real professional

United States

#7 Aug 17, 2007
Do everyone a favor and get off your high horse. You're better than these "morons?" Oh but you got a fall back finance degree and are all of a sudden a true professional. Maybe you can turn the company around as CFO. I'm sure you're better than them though because of that charming personality, computer skills aside. Let's judge 7000 employees by a visit you had to an office. Good riddance
Moses

United States

#8 Aug 18, 2007
Now do you see that the whole is the sum of its parts and that when your government does not function or functions eradically and the governed are apathetic, uneducated or care on for me attitudes prevail that the result may be catastrophic.

For forty years the education system has been collapsing and has now completely failed...enter the uneducated.

Sports and booty shaking has replaced common sense and a desire to maintain the American way of life eg; Answer these questions: Where do we rank as to standard of living on a world wide basis ? Health Care? Failure to control our country and its destiny ? A lack of education and poor government has finally put America at risk...fatal risk...enter Apathy.

When will you have enough and oh by the way don't you just love being called the American People by every political and other parasite on the earth? Are they distancing themselves from you ? Bush Family buying lots of land in The America's and not this one. Why ? What happens when the fool in the Whitehouse invades Iran... You Lose.. Enter China, Russia, and the Middle east and they won't be helping America.
Enter Invasion of America at its weakest time.

We are not prepared to defend ourselves against what could take place. the World is not prepared to help us. Thank you Mr. Politician.

Wake up America.. You are coming face to face with the next depression so go read a book or have someone read it to you on how the last depression affected America and learn how it started and how it ended.unless you like being taken advantage of or if you are too uncaring to know what to do or how to do it.... thank a teacher. Especially those of you who do not know how to read and write and are getting the message through word of mouth.

There is much more but you have to care about your country and your family to be interested so pop another brewski, eat a pizza and watch tv as you go up in smoke unless you make changes now.

This isn't doom talk this is fact based and you can find out the facts by a little research on your own.

If more banks collapse and more loans go south then all those papers you have been signing for your bank without reading will bankrupt you.... Read about loan recall, Other assets and more in your bank papers to see what you have agreed to as protection for the bank at your expense as the bank will take your assets in a heart beat as so many Americans are finding out today.

Look at the Chronology: This one you can do the work to find out if you care if not I suggest you get on good terms with an appliance dealer to get your next home, a refrigerator box and then hope you are strong enough to protect your family real estate under a bridge or a viaduct. Wake up and save America it is not too late and no politician running for office is qualified to do it for you... Take a good look at them and then decide if we need to have a Constitutional convention. Whats that ? find out.

MOSES
Pro Number Three

Harpers Ferry, WV

#9 Aug 18, 2007
Oh boy--here we go again--It's all Bush's fault!!! Oh yeah--right. I've seen this senerio four times now--early 70's
,Nixon; 1979-81 [prime rate hit 22%, Carter; 1989-91 [S&L Crisis]Bush, Sr.; 2001 Dot. Com Bust;Clinton, and now this current mortgage crisis, which I knew was going to happen when Wall Street got involved and lending standards became a total joke. And does GREED play a part? You betcha, folks--as always, regardless of who is running things. Don't make the mistake of making this political and playing the blame game. No president, or Congess controls what really happens in our economy with the possible exception of the Federal Reserve.
It is unjustifiable

Campbell, CA

#10 Aug 18, 2007
It is to bad, the people, that, are really tarred by this sorid, scenario, of agent greed is the employee. As, one, who had been in the business more than 10 years, I found it deplorable that the agents and upper managers were making big money off of these loans. As one who had excellent credit (721) after buying a small place, it virtually ruined my life--as I was put in the position of a shady deal by a shady agent. I, hope all of this puts dishonest agents out of business. Suffice to say, there are still honest, people that are in the real estate/mortgage business
Rush

Essex, MD

#11 Aug 19, 2007
Shirleyann Colonna wrote:
How do I file a claim against AHM/Homegate Settlement Services?
Contact me lenderliabilitylaw.com
Chris

Bayonne, NJ

#12 Aug 20, 2007
I am happy to hear that this company finally bit the bullet .I can say this because I am a former employee that was terminated .The reason would have been because the of the practice of nepotism.I worked with this company for a short time but in that time I saw some of the most underhanded things done by these snakes that would call themselves humans.I am so happy about all there loses .I know that some of the people wish that they would left earlier but in my opinion it was over from day 1 .Bruce blank kiss my ass you silly cracker .Most of those people will not be able to find a job because of the practice of nepotism .Go figure 20 percent business woman and men and 80 percent idiots then they will wonder why.Not only because of the greed of strauss but others too.
Former AHM Employee 2

AOL

#13 Aug 28, 2007
to former AHM employee wrote:
As an actual finance professional, all I can do is laugh at people like you. I've been to AHM's offices. I've never seen such a group of smug, self important morons in my life. That wouldn't be so bad -- if any of you actually KNEW anything about finance. You were glorified order takers who relied 1000% on desktop software to do your job. If you had to actually UNDERWRITE, you wouldn't have the foggiest idea how. You had your moment in the sun. You made pretty good money for a few years( bet you saved NONE of it) and now you can go back to selling cars or encyclopedias or whatever it was before you fell into a "career" in "finance" by default. Good riddance.
It's quite obvious that you are a glorified "Professional Finance Moron" in the supposedly finance field it's people like you that ran AHM into the ground. You should be ashamed to put this piece of garbage that you are a finance professional. I know you you are the one that sells, pot and marijuana on the side to make your living I hope you saved some of that money for a rainy day. Hope they don't stop you in your "mercedes benz", they might find stuff that should not be there. Punk!
Investor

AOL

#14 Aug 28, 2007
Not a single comment so far with respect to those of us who placed our confidence, and money, on the line in the expectation that the management and other employees knew what they were doing. It is sad to see that "vacation pay" is such a high priority for some. To the investors your benefits are a drop in the bucket compared to our actual losses!
Frmr AHM-HomeGate

AOL

#15 Aug 29, 2007
You people are incredible.
What happened, happened. It is NOT sad to see that vacation pay is such a high priority Mr. Investor.
Imagine losing your job. Imagine being told on 8/2/07 to stop working at 11 a.m., and to come in the following day to punch in and receive unemployment information. Imagine being owed 60 days pay, due to the WARN act. Mind you, by the WARN law, employees are to be given 60 days notice. How would YOU deal with that shock? Would you laugh it off and say "oh, its no big deal, even though I'm owed X amount of money, I can live without it". B.S.
You shouldnt talk. If you lost money due to AHM's going down the toilet, it doesnt matter how much you lost, you're in the same place as we are.
And to everyone else who lost their job, you know what? This door closed and another door is opening. Our great grandparents came to this country because of the opportunities it presented. They worked hard and they prospered. Even the Mexicans have the same work ethic, and they too will prosper. There is plenty of work to go around, plenty of opportunity. You are not stupid and dont forget that.
Stephanie

AOL

#16 Sep 12, 2007
Our company did work for HomeGate Settlement Services. We still have an unpaid invoice and all the contact numbers I have are not in service. How can we collect what is owed to us??
Former AHM Employee

Cambridge, MA

#17 Sep 12, 2007
File a claim with the Bankruptcy court, however, it may be too late to file, not sure.

Otherwise, it is a business charge against income taxes for this year.

Sorry, I just spoke with my appraiser, he says he is lucky, they only owe him about 2K. I've heard of others that were owed several thousands and then checks bounced which made it even worse.

We all are suffering through this.
former ahm worker

Brentwood, NY

#18 Sep 30, 2007
wow, im glad i left when i did, this is a terrible thing that happened, we all said that this job was to good to be true, to many free chances for money, i wish all former workers the best of luck getting back on your feet, and i do agree that they should get some kinda jail time!! people need to be made an example of!!!
WAYNE

Santa Monica, CA

#19 Dec 26, 2007
Stephanie wrote:
Our company did work for HomeGate Settlement Services. We still have an unpaid invoice and all the contact numbers I have are not in service. How can we collect what is owed to us??
WHO KNOWS? I WAS TOLD TO COME THIS WEB SITE. STILL DON'T KNOW
hozies boy

AOL

#20 Jan 8, 2008
my daddy is still collecting big money for dinog nothing. Go Daddy!!
Former AHM Employee

United States

#21 Jan 21, 2008
To all of those out there, all the people that lost money, employees, Investors and most of all the hard working people that made American Home shine, I feel sorry for all the hate that is listed on this web site. God will take care of the people that profited the most on this. It is not fair that the investors who belived in us, the employees who busted their ass for them, the small business people that took a change on us. Investors now have to be extremely careful who they lend money to now and in the future. All because Stauss told us that bad news was coming but not to worry? I just wonder across the lines how many people had to lose their jobs because of this ass.

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