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Option One Mortgage Corp.

Irvine, CA

H&R Block • Charges • Electronic Filing • Errors • "Free" Filing • Online • Refund Anticipation Loans • Taxcut • Option One Mortgage Corp. -- News • American Home Mortgage Servicing Agrees To 8200 Modifications • Massachusetts Court Stops H&R Block, Option One Foreclosures • Massachusetts Blocks H&R Block, Option One Foreclosures • New York Stops H&R Block's Deceptive Sweepstakes Ads • California Sues H&R Block • H&R Block Sells Subprime Mortgage Unit • H&R Block Launching Its Bank • H&R Block Threatened Employees, Spitzer Charges • H&R Block Settles Tax Refund Loan Suit • H&R Block Readies New Bank as Business Soars • NY Accuses H&R Block of IRA Marketing Fraud • H&R Block Goofs on Its Own Taxes • Children's Defense Fund: Tax Refund Loans "Indefensible" • California Sues H&R Block Over Its "Instant Refund" Loans • H&R Block Doesn't Block Identity Theft • H&R Block Will Settle More Payday Loan Suits • Option One Agrees to Clean Up Its Lending Practices in PA • H&R Blocked: Consumer Groups Oppose Tax Giant's Proposed Bank • Tentative Settlement in Tax Loan Class Action • Class Action Challenges Electronic Filing Fee • Supreme Court Rejects Block Appeal in Class Action • Judge Upholds Racketeering Complaints Against H&R Block, Household • Court Clears Class-Action Suit • Tax Loans Victimize Consumers --- • All About HSBC

Silvana of Mesa AZ (03/18/08)
We purchased our home in February 2006 with H & R, and our loan was given to Option One within 1 week. As some others mention, yes the payment is due on the 1st of the month; and they start harassing us with phone calls one day after. We receive an average of 4 calls a day. I have caller id, and it lets me know when they call. I just don't answer the phone. Our initial 2 years are up, and we no longer have a prepayment penalty to refi with someone else. However, house prices have dropped so bad that instead accumulating equity, we now owe more than the house is worth. Don't let them fool you: You DO have a 2-week grace period.

On the last call I was in a bad mood and actually picked up the phone. It was the 16th of the month, and he demanded the payment or I could face possible foreclosure. I laughed theatrically loud and told him to go ahead and foreclose. I couldn't care less. I'll walk away and rent a nicer house for less cost. It completely confused him. If you are not 60 days late and pay your mortgage within 30 days after due, there is not a thing they can do.

Two years of emotional trauma from receiving 3 to 4 harasssing phone calls a day left me too scared to answer the phone. I'm at a point now where I just don't care anymore.

Michael of North Myrtle Beach, SC March 18, 2008

Michael of North Myrtle Beach SC (03/18/08)
I have a mortgage with Option One. I was unemployed for the past 3 months and am having health problems on top of that. I was in the process of negotiating a short sale; and as of 3 weeks ago I cannot get anyone on the phone. When I call any of the phone numbers listed on their website, it goes straight to an automated message asking for an extension number. I can't find one anywhere. I have sent 15 emails, and have received identical responses saying that my problem is being looked into. Meanwhile, I have a good offer on my property for 150k with a signed contract and pre-approval letter from the buyer, but will probably lose it. The prices in my neighborhood are dropping. There are several similar properties under contract in the low 130s, and when they close, my property will not appraise for 150k.

The consequence is I will probably have to foreclose on the property. This is the only reasonable offer that I will get. I do not think Option One will accept a smaller offer, and in a few weeks I guarantee I will not be offered 150k again.

James of Nottingham, MD March 18, 2008

James of Nottingham MD (03/18/08)
Our house goes into foreclosure March 21, 2008. Option One is stating we have not paid any mortgage payments since June of 2007--which is a lie. I have all the receipts from sending payments through Western Union. I called and told them; they said nothing. This is not the first time this has happened to us. I can never speak to anyone who speaks English. They never notified us of a foreclosure. Their attorney filed in the courts on March 13, 2008. Not only that, but he filed under an old case number from back in 2006. How can that be legal? When I call to try and get a figure, they always come up with a different one every time. Please, this company has done this to too many people; someone needs to step in and say enough is a enough!

Because of these problems, I have been losing sleep, and my wife is having trouble with chest pains due to stress. She is already on blood pressure medicine.

Marc of Newport, RI March 18, 2008

Marc of Newport RI (03/18/08)
I have been threatened with foreclosure and harassed on a daily basis--and charged for late fees that have been paid!  This has caused a high level of stress, and affected my job performance and health.

Laura of Running Springs, CA March 17, 2008

Laura of Running Springs CA (03/17/08)
Option One is the most unethical company I have ever encountered. They continue to lead people on about repayment plans or modification plans, when in actuality they are just wasting your time so they can continue to snatch your home out from under you. I have found an organiztion called NACA. They are advocates for predatory lenders. I am exhausted right now and can't even think straight. Option One has caused me to lose more sleep then you can imagine. I'm sick, exhausted and broke. They are nothing but liars, and continue to lead homeowners on. Every story I have read describes my own in graphic detail as if I had sat down and written it myself. If everyone would contact NACA, I'm sure that they can get some action going. Go on their website and learn about what they do and have done and the huge corporations they have successfully taken on.

My health is compromised, my mental state of mind is exhausted. Endless phone calls, faxes, etc. I have made to Option One. The call center in India; the relentless arguments of trying to get ANYTHING resolved with them has all been in vain. STOP this company from continuing to destroy peoples lives. Class Action lawsuit? They have taken thousands of dollars of my hard-earned money only to say I never paid anything towards my house payments. I can't stand it anymore. Please, everyone go to NACA website and start making some noise. They will organize a fight against this company.

Rita of Queen Creek, AZ March 17, 2008

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