CCO Mortgage Review

I agree with you!! RUN!!! Their "customer service" should be renamed "customer frustration"!

My wife and I opened a line of credit several years ago. We did not write one check from it. We were finally going to use the the account to make a purchase. I called to check the account and was told the funds are no longer available and I needed to go through the process of closing the account. This process is now going on TWO MONTHS!

We had to put our new purchase on hold because we can not open a new line of credit until the CCO Bank send us a letter that the loan has been satisfied. After two months and many phone calls. . . . still no letter!

RUN! RUN! RUN!

Last edited on Nov 19, 2009 at 11:03AM

dumb post. I don't like CCO Mortgage either, but for different reasons. When you buy a new house (especially if you build) take responsibility for how much your taxes and insurance will be. If taxes are $1,200 yr and the mortgage company is only making you pay $50/mo....um ask an 8th grader what is wrong with that math. Escrow shortages happen because taxes go up or the homeowner is dumb.

Last edited on Nov 19, 2009 at 5:19AM

I had a similar situation with the same company but, it was about $2,000 and they needed to raise the mortgage almost $100. The only reason why I wasn't too upset was because I had already figured out their mistake the previous year and knew it was coming. I question their competency as well! I'm sorry you had such a bad experience. By the way, I decided to rent the house mentioned above and took a mortgage out on another home. They made the same mistake on the new home purchase. It least their consistent.

My second loan on a condo I've been trying to sell was sold to CCO by PHH; the first was sold to Citi (begin double nightmare... now).

I'm trying to get them to approve a short sale right now... I barely had contact with their regular customer service, as I got the direct number for their loss mitigation department early on. The latter, while not always rocket scientists, have yet to be rude or excessively incompetent with me.

However, whoever the person in charge of my file is (the phone reps won't put me through or give me this information), is NOT someone I'd trust with fifty cents given the choice. They took a month and a half just to update my file stating that they had received almost none of the paperwork I sent (just updating the file... NOT alerting me). After that I had to redo and resend a lot of it, because their delay made them decide it was no longer current enough.

Now I'm paying Citi $75 extra per DAY because CCO dragged their feet for so long that we overran the deadline they'd set for closing (they'd already issued a demand letter approving the short sale). So far I'm out $150 that I don't have; if CCO keeps up their pattern of silence, my financial problems will go from very serious to ridiculously extreme.

Could agree more. Like you, I got my mortgage with Charter One, only to find my self saddled with CCO a year later with no notice, and no customer service. Again, my rep had suddenly left the company and the national people had no time or answers for me. And mysteriously, my property taxes were up for auction sale because they were unpaid -- although I was paying into escrow for them every month. I only found out when my property was listed in the newspaper as on the auction block. I managed to pay off the back taxes before the sale, and then started the two year process of trying to get CCO to pay me back for the money I forked over to pay the taxes that they had neglected to pay, while taking my money to pay them. They now keep the taxes paid, but had a neighbor not noticed my address in the paper, I don't know that they would have gotten around to it. I have since tried to refinance, only to have them refuse to sell the loan.

They have also been completely unhelpful in getting my ex-husband's name off the loan, although it is required by my divorce agreement. They are not legally bound to cooperate, although this will mean my house being put up for sale. And they are not signers to the President's mortgage assistance programs, so they do not have to help anyone in danger of foreclosing or who fell victim to predatory loans. Stay away from CCO.

we have a mobile home and about 3 years ago charter one bought our loan from first national. we never had issues with any other bank and we had atleast 3 before they bought out the loan. out term was up on may first and as of right now cco is the only company willing to refinace it. I am hoping we can get hubbies score up to where we need and get the hell out from under chater one once and for all very soon. Since we don't have an escrow account hopefull we won't have the same issues you have but i have hated chater one since the day they bought our loan they are all a bunhc of dumbasses with no skills what so ever. No One in that company knows what they are doing. Nice to know there are no brains required to work at charter one.

My wife and I received a similar letter/statement from CCO last week 6/8/09. We have to come up with $6,200.00 by July 1 to fix THEIR escrow error or our payment goes up $800.00 a month.

The customer service is terrible!!!!!!!!!! After you get your loan through CCO mortgage and you have questions about your loan, their representatives cannot answer any questions!!!!!! They loose your payments, and are so rude on the phone!!! CCO Mortgage is the worst financial institute I have ever dealt with. Today I called to ask if I had an open mortgage, and the CCO representative said, "I don't know what that is, I cannot answer your questions." Way to go to the Big Shot who owns CCO mortgage........for hiring such a competent staff!!!!

We have had the worst time with CCO also. We have contacted several times rearding our mortgage and they have yet to help us they have the worst customer service ever What happen to the customer is number one not with this compay Please stay away from them they don't care about their customers and the lack of knowing anything is very bad if we could reffinace we would but with the market being the way it is it will be hard.

CCO Mortgage is the worst financial institution ever. The customer service is terrible. First you get the general customer servoce rep who thinks they can solve every problem, and insist that you share your info and/or question. Then of course when they are unable to answer you that's when the fun begins. Now you are trapped in an endless phone chase, from department to department none of which can help or answer your question.
By the way my question: Where's my discharge that you said would be faxed in 24 hours. I now am told after many phone calls resulting in the same nonsense that the "paid loans department" which is where my paperwork is has no phone. Come on, really are you kidding me. I have had it, I'm going to shout it from the roof top STAY AWAY FROM CHARTER ONE, CCO MORTGAGE, CITIZENS BANK if you value customer service and your time. I've been working with another local bank which appreciates our business and does have thousands of under paid phone reps who are clueless, you know they have automated menus now so you are not actually supposed to speak to people, but yet your question or request should fit into the box. My friends do yourself a favor find a small local bank.

customer service bad, I had a full hip replacement in Feb.2009 out of work since, receiving help from the veterans,checks and or paper work mailed to cco for past two months seems to get lost, never late on payments for fifteen years . sounds like they could care less if you get behind in payments, the house would be the banks. no help from customer service, famous last word,still looking. no name from cleveland ohio.

My husband and I had our house built and financed this loan thru Charter One Bank in 1972. That loan has been paid in full for many years. In October of 1999 we applied for a second mortgage to make a purchase. It is a 10 year loan and I am in the last few months before this loan will be paid in full (owing approximately $8,000).

After becoming ill I fell behind in 3 payments. After my release from the hospital with continued bedrest I regained some strength and attempted to contact CCO Mortgage to let them know I would be sending in the back payments with late fees. During each call I was told that no representative would talk to me until I filled out their questionaire regarding my personal information and mailed that to them.

I complied and did that. After giving them time to receive this document I called again and was given the same response. There is no personnel willing to talk to me. I asked the woman on the phone if that will be noted in my account and was told yes and hung up (again)

I received a new passbook from CCO increasing my payments effective January 2009 by $300.00 because of the account delinquency. I am now in foreclose even though my back payments have already been caught up. CCO Mortgage is stealing my home worth $180 Thousand dollars for a debt under $10 Thousand and refuse to work with me. I totally agree MORTGAGE HOLDERS BEWARE, apparently this is their new procedure to make money. I do have the option to pay the legal fees to reinstate my mortgage which is an additional $4000.00. In Ohio the statue allows for attorney fees not to exceed $1,100 and that is for a lengthy foreclose process which I am not in.

I also have the option to hire an attorney of my own but with the increased payments and just going back to work I can not afford that. I have tried to go through the government loan agencies to help people in foreclosure but do not quality as I do not have enough debt. I have also tried to apply for a new loan to pay CCO off completely but do not qualify for that either since my credit score has been trashed because of "excess delinquency" due to this problem.

So again CCO is stealing my home. Is this what us as taxpayers are bailing the banks out to do?? Along with our increased taxes we are now forced to give up our homes.

Last edited on Apr 10, 2009 at 3:31PM

My husband and I had our house built and financed this loan thru Charter One Bank in 1972. That loan has been paid in full for many years. In October of 1999 we applied for a second mortgage to make a purchase. It is a 10 year loan and I am in the last few months before this loan will be paid in full (owing approximately $8,000).

After becoming ill I fell behind in 3 payments. After my release from the hospital with continued bedrest I regained some strength and attempted to contact CCO Mortgage to let them know I would be sending in the back payments with late fees. During each call I was told that no representative would talk to me until I filled out their questionaire regarding my personal information and mailed that to them.

Last edited on Apr 24, 2009 at 7:24AM

the customer service 800 number is pitiful. I tried making a payment on line but I had forgotten my password and several attempts later I was 'locked out.' I called the 800 number as suggested to 'unlock' me and was caught in a loop between "quick assist" (a completely inaccurate departmental name) and customer service. I was calling from overseas andd paying for each minute of the call which after 7 minutes I just gave up since my phone was going to cut off and I still hadn't been transferred properly to the correct department to make the payment.

If I could find a 15 year mortgage at least 1 1/2% less than what I am paying now, I would be GONE from CCO.

Last edited on Apr 09, 2009 at 10:37PM

Interesting, i happened on this thread as i was looking for CCO Mortange to access my account.

My understanding is that CCO Mortgage was purchased several years ago by Citizen Bank (RI) which is the US Divsion of Royal Bank of Scotland.

I too have had these issues with the escrow account, appearing to be short every year and recieving the threatening letter. It take many painful customer service calls to resove the issue, which is always thier fault.

I am happy with Citizen's bank and have no issues with the mortgage itself, just the escrow every year. I too would suggest not using the company, but with so many bad mortgage companies out there it is hard to make an informed decision.

This is alarming. I am considering refinacing with CCO, as their fees and rates were among the best quotes I received. Please explain why your escrow was unexpectedly so short...did your taxes suddenly go up a lot? did you miscalculate the taxes somewhere along the way? did your home value decrease? Usually there is a valid reason for escrow increases. Please clarify for everyone's benefit.

CCO MORTGAGE IS TERRIBLE, Well here's my story.............. I took out a 2nd mortgage on a rental property that I own to put a down payment on the house I purchased w/CCO. With the down payment I paid 606710 (1st & 2nd)for the house NOV of 07. Well we all know how the housing martket is now. So the house is only worth approx. 430000. I have been since NOV 08 asking them to modify the loan to what its worth now or at least take off some of the 606710 that I paid for the darn house(i really wanna curse). They have continuously ignore me. I have sent them a hardship letter about my job & wife's job cutting our pay (& we are in the law enforcement field) back & cause of the 2nd mortgage I took out for this house. I'm unable to make the payments. Im paying over 600 a month even after my teneants give me the 2000 for the rental property. I'm upside down on both houses and can't refinance. I'm stuck with these people. I AM EXTREMELY PISSED AT CCO. I'm GOING TO HAVE TO DO A SHORT SELL OR JUST WALK AWAY FROM THE HOUSE. I can go down the street or the next neighborhood & buy basically the same house for about 390000 to 450000 before I miss up my excellent credit score.... You would think with 3 mortgages with CCO THEY WOULD HELP ME OUT. I HAVE NEVER MISSED A PAYMENT WITH THESE PEOPLE IN 14 MOS .........................I hate CCO MORTGAGE. run don't walk away from these people. I REALLY HOPE THEY READ THIS. INFACT I AM EMAIL THEM THE SITE

Last edited on Jan 18, 2009 at 8:16PM

hello anybody.
i closed on a construction laon 2 years ago.... but the bank went bankrupt. they gave the mortgage to CCO. (what does that stand for anyway?) so far they seem okay, but my conversuon papers seem very vague? what do you think. (6% fixed)

My credit score was 778 when I purchased my home. I experienced CCO as having a lack of integrity when handling my tax escrow among many other indescretions. They were slow and reluctant to resolve. Their resistance and hostility in service enlongated my negative experience. I am now suing them for improper foreclosure and fraudulent calculations regarding my loan.

Customer
Cruelty
Offered

Last edited on Nov 21, 2008 at 9:29AM

also listen to Charter One and ended up with CCO, they don`t know one thing about customer service. With all the fore closures you would think that they would work with their customers, but instead they say too **** bad this is the contract you sign and it`s final we don`t modify, we don`t care. They don`t let you work with one person (housing counselor). Someone finally said they would send me a form to fill out to see if I qualify for help, 3 days went by no form, so I called the next day when I still had not received it and they said they will send another one, 8 days later I received the form filled it out and sent it back the same day, 2 weeks passed and I didn`t hear back from them so I called and they said they never received it and sent me out another form, I`m glad I took a copy of the 1st form because it took 18 days for me to receive another form, they had the copy I sent in 2 days per confirmation and signature from sending it certified mail. Guess what they didn`t get it evan though I have a signed document stating they did receive it. 2 months have passed and I receive a nasty letter from CCO that if they don`t get the full amount owed plus late fee`s they will start the process of for closure.
I started the whole process 2 month prior knowing I was going to be 150.00 short every month. I was injured on the job and Work Comp. was not paying my benefits and after 7 years of no WC benefits my savings hit 0. My Mortgage went from $796.00 to $1174.89 due to a shortage of escrow. CCO should be bared from making mortgage loans.

Last edited on Nov 21, 2008 at 9:31AM

i have a loan with cco mortgage and i have feelings with the company.the customer service reps are not always knowledgeable.i like you i always have shortage each year.i really ly do not like that they can only be reached at 9 to 5.most companies have longer hours.i would like them to extend the hours.

Excellent. I agree; stay away. On the monthly statement it says to call for any questions or equity loans, etc. Those people say to contact the local bank. That's when I got destroyed. They have no sense of community. I have a small business on a "main street" and they indirectly force me to shut down, w/o an equity loan. Can you imaging my mtg balance is only 20% of value!
My credit score is lowered by some late payments to c/c cards in winter, which I wanted to pay off by equity loan.
RUN, which I am trying to do - totally agree.
I hope CCO & Citizens can read this.

Excellent. I agree; stay away. On the monthly statement it says to call for any questions or equity loans, etc. Those people say to contact the local bank. That's when I got destroyed. They have no sense of community. I have a small business on a "main street" and they indirectly force me to shut down, w/o an equity loan. Can you imaging my mtg balance is only 20% of value!
My credit score is lowered by some late payments to c/c cards in winter, which I wanted to pay off by equity loan.
RUN, which I am trying to do - totally agree.
I hope CCO & Citizens can read this.

BAD NEWS IS CORRECT. THEY HAVE MADE ME A VICTIM OF THE BANKING. TOOK THEM 4 MONTHS TO FINALLY SAY NO TO A REFI. MY CCO MTG. IS 20% OF THE HOUSE VALUE.
THEY RAKED ME OVER THE COALS.

Holy cow, you have got to be kidding me!!!!!!
I definitely will pass this info on.