Consumer Complaints and Reviews
First time dealing with Franklin Financial awful dishonest crooked people... Me my family were homeless. I been working a few months so I took out loan from instaloan... 800$... they were crooked so I paid 2 years on loan over 2200$. Franklin bought this company... After me talking with first loan company I was upset. Franklin sends me a paper saying in guaranteed 1500? So that's when they say "oh we own your loan" so instead of treating me right seeing plainly I was mischarged... they charged me the 334$ I had refused to pay instaloan due to their dishonesty. Franklin yea they do you right aight crooked people, crooked business overcharging a homeless family who already poor... yay!!!
When going to this company I expressed to them I was rebuilding my credit and wanted to make sure they report to the major credit bureaus. I was told, twice, they do and they had a sign in the office stating they do. It has been several months and nothing has been reported. Upon calling the corporate office I was told that two years ago it was an executive decision to suspend reporting!!! I told the rep I was just told a few months ago that you report! In her sweet rehearsed voice she repeats her speech to me, saying that possibly by the end of the years they will again report! I AM PAYING 26% INTEREST TO BUILD MY CREDIT WHICH YOU ARE NOT REPORTING! I must say to their good the workers in the Stockbridge Ga. office are nice but nothing irritates me more than to know I am getting nowhere on building my credit! Looking for someone to buy my loan!!!
We accepted a loan from 1st Franklin to help offset some of our Christmas costs. When we ran into some financial troubles early in the year, this resulted in some late payments to our creditors. From week one of being late, I received at least 4 calls per day, and when I could finally reach out to 1st Franklin, I was told that after I was a month behind, that they were moving to collections. I tried to resolve this with customer service and management, I was met with unprofessional behavior and a very judgmental attitude. I was told that they could move an account to collections even a payment is ONE DAY LATE!
This information was brought to me in what I felt was a very threatening manner. I am Customer Care Coordinator for a local engineering manufacturer and if I addressed any of my customers this way, I would have been fired immediately, regardless of whether the customer was on-time or late with their payments! If you find that you absolutely have to apply for a loan, stay away from this company! If you even fall a little behind, you will be met with several calls daily and lawsuit threats. I know that I should have taken better care of this account, but this company's staff behavior (specifically the management) is WAY beyond unacceptable. Maybe they should try to take in account that there are some good people that just run into bad situations sometimes. Exploiting your customer's misfortunes is really not going to good for your business.
When I got my $1,000.00 loan approved I had to agree to paying auto damage coverage, which was an additional $1000 plus. Something happened to my car where I had to file a claim. It took over 4 months for the check to get sent to the company to fix my car. Never again will I ever use 1st Franklin Financial Corporation. I do not recommend anyone to get a loan from this company. I have gone through too much with them.
First loan I got to build my credit score, I paid in time every month like a clock and I didn't see any changes on my credit score. I know it takes time to build the credit score, but I had an emergency, and have to apply for second loan. They gave me less than I requested and less than my first loan, and I have job and pay all my bills on time, including the first loan. So after second loan my score went down from 660 to 566. I borrowed money from a relative and repay the loan in full. Very unhappy about it, especially after I proved I have a stable job and never was late with my loan payments. One good thing that interest is reasonable... but what a point if after then I can't get any loan for a while.
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My wife and I were referred to John ** for our first home purchase per a recommendation from our realtor and couldn't be happier! Right from the beginning John was friendly, informative and very hardworking. We felt comfortable and in the loop every step of the way. John did an outstanding job explaining the home buying process from the moment he first picked up the phone to the closing table (actually beyond that because he just answered a question I had and we closed last week!). I would highly recommend John ** for any mortgage or refinance.
I've been with First Franklin for over two years. I was in the hospital and was late on my payment. They called me at work and told me I had to make the payment on or before Tuesday the 30th. I explained that I was getting paid the next day on the 1st and would happy to pay then. She told me that no I couldn't do that and they would start the paperwork to turn over the account. I had a liver transplant in 09 and had to go to Emory University hospital because I was rejecting the organ. They didn't want to hear that and did t want to wait overnight until I was paid. I am very disappointed. Since being a customer for as long as I've been I thought they could wait one day.
I paid off my loan almost 4 months ago. I've been calling the local branch for 2 months to find out why it's still on my credit report. They claim to have issues reporting to the Bureau. I called the corporate office and ** told me they are doing their audit which could take months before they report my updated information! I have never heard of this before. I will never get a loan with them again!
Manager at local office made numerous calls to a third party instead of contacting me then told third party she couldn't tell him what it was concerning. It was a privacy issue. But decided today she could indulge all info.
Stealing Of Our Mortgage Payments - This is an account of what we have been going through for the last 3 years with our previous mortgage holder, First Franklin/Home Loan Services. We are currently under a judgment, which is expected to foreclose on our home within the next few weeks. We have hired several lawyers, filed motions, and put out thousands of dollars to save our home.
We have read all the blogs and sites that talk about the many lawsuits and devastated consumers, like us, who are experiencing the same things with this company; but we never really realized how many there really are. At this point, we are writing to your office and others like you to explain what happened to us and possibly get someone to listen to our story and give us direction and help. We have suffered great injustice on many levels, and we need everyone to know; so they don't get away with doing it to someone else.
We have all the court documents, letters from the attorneys, emails, money orders, and receipts from this case. If you review the court documents, your heart will drop once you see what this three-year case looked like and how it was allowed to go on. The horrendous part about all of this is Franklin/Homeside Lending no longer own our home. The servicer is Bank of America, and the investor is Wells Fargo. We are fighting a company called Home Loan Services. We are not sure why.
The devastating part about this whole ordeal is we did not lose our jobs or stop making payments on our loan. Even though it had adjusted and we were paying a lot more because Franklin failed to set up our escrow, we were still making our monthly payments. It was later discovered that hired employees at Franklin had stolen payments from us and others. These were the payments Franklin said we did not make.
In February 2009, we received a letter from Franklin and their attorneys stating that we had not made our mortgage payments for several months. We in turn contacted them and let them know we had made the payments, and we sent them the receipts to prove it. We also contacted MoneyGram to verify that the money orders were cashed, requested, and paid for copies of the fronts and backs of the money orders as proof. We sent everything over to Franklin several times. Each time, they complained they couldn't read it, or they sent us to someone else within the company to start the process over.
We then retained Attorney Richard to act on our behalf, and he filed an injunction to stop the foreclosure and to make sure we were reimbursed for the fees we had to pay out to rectify this situation. (So we thought.) We were asked to submit mortgage payments to the courts, and initially, we did this in cashier's checks and money orders. Later, the attorney told us to just send personal checks. For the next year, we were told by our attorney that he was working on this, the company was investigating the situation, and to not worry and that everything was ok.
During this time, all the foreclosure activity stopped and we received no more mailings from Franklin. We were also told by our lawyer that if anyone from the postal service, the FBI, or the attorney-general contacted us to please refer them to him. We were excited thinking, wow, they are really finally investigating this. Every email and every phone contact that he sent (We have every one of them.) stated all was well and that the company was a pack of thieves, etc.
We received a certified letter from MoneyGram stating their involvement in the investigation, and we thought it's almost over. We also learned that our lawyer and Franklin's lawyer (Peter) went way back and were friendly; he (Mr. Peter) agreed that Franklin was at fault, and he was advising them to settle. This went on for another year. Whenever we called Mr. Richard to get a status (if we received a return call), we were told really nothing, except not to worry, they were close to settling, he had them in a corner, and he needed a payment.
We checked Casenet on several occasions and saw that there was going to be a trial, but we were never invited, because they never took place. At times, there was no change. Not being versed in law, we did not know what was happening but trusted our attorney knew best.
In October 2010, we received a notice about a class action lawsuit against Franklin for discrimination against minorities in regard to interest rates. We contacted our lawyer to make sure we could send back the forms, and he said yes. We did, and in 2011, we were sent a check for $119.00 and we were told that part of the settlement was that class members were entitled to modification programs offered by Franklin now serviced by BAC. At that time, due to our present lawsuit and lawyer, we did not opt to call about this benefit.
In 2011, we still had no new information from our attorney about a settlement, changes, or the trial; nothing. Still, he said, "Don't worry. Things will just go back to the way they were, you paying your loan and the company reimbursing you for your expenses." In December 2011, everything fell apart. Mr. Richard left a voice mail and told us that we owed Franklin almost $60,000.00 and to make sure we had the money. He told us the judge had written an order and he thought that amount might be right. He made no mention of damages and pretty much stated, "Well, you won; you got the injunction."
Devastated, I contacted him and questioned what he was talking about and what about what we were promised, and I also questioned the order amount. I told him that amount was not right! He told us he had put everything in place and had helped us better than any lawyer could have. In the gest of our upset and outrage, I filed a motion order with the courts to see what happened and to get a clear understanding from the judge as to what went wrong. It was scheduled for January 2012. I also sent a copy to the opposing team, which had changed to Eric of Gallop, Johnson, and Newman, L.C.
Mr. Richard, who seemed outraged that we had filed the motion, then requested to be taken off our case, stating heart trouble. He advised we immediately needed to get new counsel as we had gone against him to the courts.
In early January 2012, we went to court, and the next blow was rendered by the opposing lawyer. He told us that the investigation had been conducted by the defendant and they had found that a vendor hired by Franklin had indeed stolen our payments. Mr. Eric told us the actual investigation had gone on for 6 months and should have ended this case then. He also told us that the judge had almost thrown the case out, because for almost 6 months, the lawyers did nothing to work on this. We checked Casenet later, and it was true.
He blamed our lawyer for not telling us and not settling this matter (We were the plaintiffs.) a long time ago, and he also accused our lawyer of not turning over the payments to the lender and keeping them in his desk. He also confirmed that Richard and Mr. Peter were friends. We talked to him about the amount and requested an accounting, as the figures were wrong. Franklin in 2010 had sent in our second mortgage to their insurance company and was paid for it. They were still trying to collect for that too from us.
We went before the judge, Ted of Division 11, St. Charles County; and we requested time to get a new attorney. And we thought that he would address the issues concerning the poor management of our case, but he didn't. He was angered that the order he wrote wasn't fulfilled and it had been on the docket for years. We explained that the amount owed was wrong and that we needed to discuss the damages we incurred due to Franklin's error. We were then told our great and wonderful lawyer did not file the papers that way. He never requested anything but the injunction. He had lied in his emails.
We leave, upset, devastated, and looking like fools. We told the other lawyer we would have the money after we found out how much. We started searching for a new lawyer. No lawyer would take our case; no one wanted to go up against the banks. Everyone knows their reputation and their unlimited resources. Finally, a few days before we had to go back to court, we found a firm that would represent us. Due to the short notice and mess of this case, we had to pay them $5,175.00 up front that day. We had no choice, so we did it.
We went to court for a settlement conference. It was ugly; everyone was tired, and the new lawyer had only days to study the case. Everyone agreed that an accounting would be done and the case was handled badly. Eric told us to sue his company and sue the vendor and that we were wronged, but he wanted the money for the last three years. We left, and accounting was done days later. The figure went down to $43,000. This figure was what they stated we owed to them over the three years of the lawsuit - the three years that we gave our attorney the monthly payments, which he did not give to the defendant.
In review of our bank accounts and the expenses incurred by the first lawyer and the second lawyer (and some expenses incurred with the death of my father in 2009 and the unexpected death of my mother in October 2011), we had exhausted a lot of our saved money. We asked Franklin/Home Loan Services if we could possibly give them what we had and roll the rest into our loan, as this was their fault (the whole lawsuit). They would not budge.
We were given a deal by their attorney to come up with the $43,000.00 within 45 days. They even tacked on an additional $4,000 for the heck of it for that 45 days, bringing our total to $47, 000. We were told if we did not come up with it by March 15, they would take a judgment and take our home. We talked to our lawyer, who discussed with me selling my mother's home (which is in Probate) to get the money. Under duress and fear and with no options, we said ok.
While trying to raise the money, in the mail, one day, we received a packet from Bank of America. It had a Federal Express envelope attached. They explained to us we were eligible to receive help from their home modification program and we should fill out the paperwork immediately and send all of the requested documents back. They told us we owed them $49,000. And they were the servicer of our loan. In the offer, they stated that we could possibly just put the amount owed on the back of our loan.
At that time, we remembered the discrimination settlement with Franklin and the conversation we had awhile back with the Making Homes Affordable people. We thought, hey, maybe they are trying to work this out, because they were wrong. We contacted our lawyer and sent back all the paperwork requested. We finally spoke to our assigned case manager, who explained the process. We updated her on our situation with Franklin/Home Loan Services, and she again confirmed that they had no claims on this loan. We then called our new lawyer and explained this to him. He contacted Ms. ** with Bank of America who again confirmed this with him.
He then stated he contacted Eric and stated that we were trying to work out a modification with Bank of America, as they had contacted us. According to Mr. Eric, Bank of America and Home Loan Services, et. al. are the same company and that Ms. ** from Bank of America had no clout. He was working with someone higher up and we would not get the modification.
So on March 15, when we did not have the total amount, Eric stated he was going to proceed in taking our home for $47, 000.00, not because we were ever really behind in our payments and not because we did not send in our payments to the lawyers (The money was there when we wrote the checks, but they never presented them for payment.), but because someone in the company they hired to process payments stole them and the lawyers involved in figuring that out failed to conduct business as they should have.
Not once did we receive anything from them saying "Hey, we are sorry for any inconvenience this may have caused you." Our current lawyers answer was "Well, they are going to get your home; you should find a place to go." What. Why would we give up that easy. We have a beautiful home. We are active in our homes association and our community. We have a son who will graduate next year from high school whom we don't want to uproot. And he has been in this school system for most of his childhood. Why would we give up? Yes, we should have saved better, but we listened to a lawyer who told us everything would be all right. He told us we would get our money back (our fault). Only trust God.
Aren't they under an obligation by settlement order to work with us to modify. The initial settlement was with Franklin/Home Loan Services, right. On Friday, my husband contacted Bank of America and spoke to Ms. ** and her supervisor. He was told our paperwork had been sent to legal for review. Maybe someone there will be able to help. We were told they would call us within 24/48 hours.
I'm not sure why these companies, which have been bailed out, are wreaking havoc over the people. So many people have been foreclosed and slandered by First Franklin. Home Loan Services, from what I understand, is now a collections agency; and they give big bonuses for lawyers who bring in debt. This makes them look good to the investors. We are not sure our investor knows about any of this, but I did forward a copy of this letter to them, the attorney-general, and other officials, so this goes on record. This has got to stop!
Bank of America has been one of our banks for years, and it would truly be a shame if they are really affiliated with such snakes. Is there any advice you can give us? We now need to stop an executioner, so the sheriff is not sent to our home. We want to hear what Bank of America has to say and will await their call on Monday, March 19, 2012.
Our current lawyer states that in 30 days, when this is over, they will help us file a lawsuit against the lender and the previous attorney. But right now, they can't do anything. We don't believe this; even murderers get appeals. Thank you for your time.
Update as of 06/22: We have now filed for bankruptcy, and they're wanting us to pay additional $20k. And still no one knows the person who stole our payments, which started this nightmare.
I am in foreclosure! First Franklin knew my base pay was only $35,000-42,000 a year when they approved the loan. I didn't realize they added in bonuses which were an extra $36,000 to approve the loan. Then at closing, I was forced to go to the bank and pay an extra amount over $3,000 which I had at the time so I paid it. Then the market fell and I was trying to make it on pay alone. It's my first home. I am very depressed. I would love to save it. I have kept all the original loan papers. I feel cheated. Based on my actual pay, I probably would have been too risky to even get the loan in the first place. At least not for the amount I was approved for.
Predatory lending with mother n law who is elderly age: 86 refinance to lower mortgage payment mortgage balance was $180k new finance amount was $236k with a arm rate and cash out was only $2000k and now mortgage payment climb thatwas unreasonable to pay and it keeps climbing through the life of the loan now facing foreclosure hearing on 9/13/09 need to stop foreclosure proceeding
interest rates are to high! i want to refinance!
I refinanced my home with First Franklin Mortgage about 5 months ago, and every month on the 1st they start calling me at 8:00 AM and ask me when I will be making the payment. I tell them I will make the payment on the 15th like I have done since the inception of the new loan with them, and they tell me it will be late. (I explain to them that I have until the 16th of the month; after that it is late). They tell me I need to pay today so I tell them I will pay when I pay just like every month. I tell them not to call me because I make my payments on time every month and have ever since I purchased my first home over 15 years ago. I explain to them that I work the 3rd shift and just went to sleep--to quit harassing me.
They sometimes call about 2 hrs. later again to wake me up and tell me the same stuff again; they do this repeatedly every day till about the 13th of the month. In november I told them that what they are doing is considerd harassment and they would be dealt with appropriately. They threatend that they will take my house from me.
One of the checks was to pay off my wife's school loan. When we received the check, it was made out to the wrong company. It was a very large sum of money. I left several messages with the Gentleman who had helped us refinance, but he didn't have the decency to return my call. I finally spoke to a supervisor who said that she couldn't re-issue a check, that we would have to contact the lady who came to the house representing the title company.
Needed to refinance but owed more on my home than it was worth and discovered the appraisal done in 2002 was inflated by 20,000 and contains false information. I got ill and got behind and it has been a nightmare they are going to take my home.
First Franklin Loan Company Profile
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