Date Received: 2020-04-18
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: We took out a swing loan which was recorded on XX/XX/XXXX ( paperwork attached ). We paid it off on XX/XX/XXXX ( paperwork attached. We received the deed to the prperty on XX/XX/XXXX ( attached ). We received a sales aggreement to sell this property on XX/XX/XXXX. When the title was being reviewed it was brought to our attention that this loan was never properly closed and there is still a lien on our property ( attached ). We require a " Letter of Satisfaction '' from the mortgage company before we can sell our property. The setlement coordinator for our real estate company along with the title processor have contacted the mortgage company with no satisfaction. We have also made the following phone calls : XX/XX/XXXX @ XXXX XXXX we talked for 43 minutes and were hung up on. XX/XX/XXXX @ XXXX XXXX talked to XXXX for 58 minutes without any results XX/XX/XXXX @ XXXX XXXX talked for 10 minutes without any results ( all mail boxes were full ) XX/XX/XXXX @ XXXX XXXX talked to XXXX ( ID # XXXX ) for 24 minutes. XXXX requested we fax her the paperwork and she would review and call us the next day. We faxed her the paperwork @ XXXX XXXX. Currently XXXX has not returned our call. XX/XX/XXXX @ XXXX XXXX talked to XXXX ( ID # XXXX ) for 29 minutes without any results XX/XX/XXXX @ XXXX XXXX talked for XXXX minutes to XXXX ( ID # XXXX ). XXXX requested we fax this information which we did later that day. The customer service representatives say they have no information or history of this loan. We have also contacted the " Lien Release Team '' of the Mortgage company mjultiple times but have not received a call or reply of any sort. We need this " Letter of Satisfaction '' ASAP as it is holding up our sale. We already missed the first settlement date.
Company Response:
State: PA
Zip: 190XX
Submitted Via: Web
Date Sent: 2020-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am inquiring about forbearance versus deferment. Why is PHH/XXXX not offering clients a deferment payment during these unprecedented times of COVID-19? I am an on-time paying client and have been for many years. I have been impacted by COVID-19 with a furlough and an uncertain return-to-work time frame. I contacted XXXX customer service by phone on XX/XX/20 and through email only to learn that the expectation of forbearance is to repay at the end of 90 days with no option to renegotiate the loan. My intent to defer, ( have the payments that are missed be renegotiated back into the life of the loan ) was not entertained. I would like XXXX/PHH to consider the client on an individual basis. COVID-19 impact is not a one-size-fits all. Every client should have options at this time. I have included the attorney general of California in this email for future reference and counsel, potentially for my circumstance or others. Please confirm the receipt of this email and what next steps may look like. XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95204
Submitted Via: Web
Date Sent: 2020-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This issue started when my mortgage company XXXX, used my escrow account to pay my 2019 summer tax bill. My 2019 summer tax bill was paid normally from my escrow account in XXXX of 2019 for the amount of {$980.00}. The following day, XXXX paid an additional {$1500.00} to a separate and incorrect parcel number, using funds from my escrow account. This error caused my escrow account to be severely underfunded, XXXX then added an advance to cover this shortage. I then received a letter saying my mortgage amount would need to increase to cover these new escrow shortages. Based on the amount they had paid to an additional parcel number. Upon receiving the notice my mortgage had increased to cover the new escrow amount, I immediately contacted them in XXXX and informed them of the mistake. My city taxes were paid in full, and were the amount of {$980.00}. I supplied them documents from my city tax assessor supporting my claims, and was told that the problem would be fixed within two weeks. At this point I was told to wait, and they would let me know when it was all done. I did not hear from them, unless I called them. They had no answers for me, just that it was in process and would all be worked out within a few weeks. We continued to work with them and when our winter taxes came due in XXXX, the exact same issue occurred again, our city taxes were paid for winter in the amount of {$120.00}, then XXXX paid the same incorrect parcel number in the amount of {$200.00}. These continued mistakes have caused our mortgage to jump from {$450.00} to {$650.00}. We were told multiple times from XXXX to NOT pay, since the amount would be incorrectly allocated to our escrow, we were told to wait and pay once it had been worked out. The problem is, it has taken the over 6 months to work it out. This whole time they have continued to send us bills, debt collection notices, and foreclosure notices. This entire time if we didnt reach out the XXXX, we didn't hear from them. They seemed completely unable or unwilling to correct the problem after 6 months. Two weeks ago we were informed that XXXX had transferred our loan to a different company XXXX. XXXX will no longer talk to us at all, and the problem has not been resolved. XXXX has absolutely no information on our case, and we have had to start completely from the beginning with getting this resolved. We have received multiple notices of foreclosure, due to our not paying our bill ( As instructed by XXXX ). We are ready to get this current, but so far our escrow account is still incorrectly paying two different tax bills for two different parcel numbers.
Company Response: Company believes complaint is the result of an isolated error
State: MI
Zip: 48708
Submitted Via: Web
Date Sent: 2020-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, I found out my old mortgage servicer sold my loan to PHH Mortgage Servicer. When I went to submit my first payment, PHH charged me an extra {$7.00} " Draft Fee '' that I could not avoid. They expect to steal an extra {$2300.00} from me over the life of my mortgage. I tried to contact them but they had adjusted their customer service hours without any notice to loan holders or mention of their adjusted hours on their VERY outdated website. I requested a refund of my {$7.00} and am pursuing a refinance to get away from this terrible company.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: 741XX
Submitted Via: Web
Date Sent: 2020-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-16
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: PHH Mortgage Corporation ( PHH ) of Florida currently services my existing 30 year fixed rate home loan. On XX/XX/2020 I called PHH Mortgage in response to an email offer to refinance my house. The PHH representative offered me a fixed rate of 2.75 % on a 15 year loan to refinance my existing home loan with PHH. I declined the offer, explaining that I had a better offer from a different lender. Today, I received a loan refinance package from PHH fora fixed rate of 6 % on a 15 year loan. I called PHH earlier today and asked to speak with a supervisor regarding this issue. The lady I spoke with said the supervisor on duty was busy and that she would have the gentleman call me. I have not yet received a call back. This seems like predatory lending practices and am reporting this for the following reasons : 1 ) The refinance package I received today is 6 % for a 15 year refinance, which is more than twice the rate I was offered on XX/XX/2020. This rate is also significantly higher than rates for similar products, especially given my excellent credit score of over 800. I am attaching a copy of the Loan Estimate and a copy of my credit score as provided in the PHH refinance package. 2 ) I received a refinance package today, even though I verbally declined the offer on XX/XX/2020. 3 ) The lady I spoke with from PHH on XX/XX/2020 said she just had a couple of questions to get me a rate. She proceeded to walk me through the entire application process, explaining the whole time that it was just another couple of questions. I felt like I was being fed the elephant 1 bite at a time, but kept going on the assurance that we were almost done.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 945XX
Submitted Via: Web
Date Sent: 2020-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-16
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX via the website portal on PHH Mortgages website an email was sent by XXXX XXXX requesting the amount needed to bring the loan account current for the property of XXXX XXXX XXXX XXXX XXXX NH. An email response from PHH Mortgage was received by XXXX on XX/XX/XXXX indicating that {$3900.00} was the necessary amount to bring the loan current. XXXX wrote a check in the amount of {$3900.00} and mailed it on XX/XX/XXXX to PHH Mortgage. On XX/XX/XXXX XXXX XXXX received a voicemail message on her cell phone stating that the property of XXXX XXXX XXXX XXXX. was foreclosed upon and that the new owner of this property was preparing to sell it. On XX/XX/XXXX XXXX contacted PHH Mortgage to figure out the details of this foreclosure since this was the first time that XXXX was learning about it. At that time PHH Mortgage told XXXX that there was nothing that could be done since the house had been foreclosed and sold on XX/XX/XXXX and that the only people that could help was the law office of XXXX XXXX XXXX. XXXX contact XXXX XXXX at XXXX XXXX XXXX. XXXX told XXXX that there were 3 green cards that were delivered to the address however XXXX stated the cards were returned to the law office because the cards were not removed from the mailbox. There was no point in time during this time period when the mail was not being picked regularly up by the residents ( XXXX XXXX and XXXX XXXX ) of XXXX XXXX XXXX XXXX. XXXX stated that since the foreclosure sale of the house was complete there was nothing that the law office could do and the only people that could rescind the foreclosure was PHH Mortgage. Mr. XXXX recommended that I contact PHH Mortgage and attempt to work with them. XXXX called PHH Mortgage back and told PHH Mortgage the law office of XXXX XXXX XXXX said for XXXX to work with PHH Mortgage to rescind the foreclosure sale of the house. PHH Mortgage told XXXX that there was nothing that PHH Mortgage could do and the law office of XXXX XXXX XXXX were the only ones that could rescind the sale. XXXX told PHH Mortgage that XXXX XXXX XXXX said that PHH Mortgage were the only ones that could rescind the sale. At this point PHH Mortgage assigned a Relations Manager by the name of XXXX XXXX to the case. XXXX XXXX was assigned as the Relations Manager on XX/XX/XXXX. XXXX was told that XXXX XXXX would be calling back within one to two business days. By Tuesday XX/XX/XXXX there was no communication between XXXX and PHH Mortgage. XXXX contacted PHH Mortgage in an attempt to speak to XXXX XXXX and get clarification about the process of rescinding the sale. XXXX was not able to speak to XXXX XXXX, and XXXX XXXX never made an attempt to call XXXX or XXXX XXXX. Once again, XXXX was told to talk to someone at the law office of XXXX XXXX XXXX as the law office is the only one that is able to rescind the sale ( according to PHH Mortgage ). XXXX called PHH Mortgage again on XX/XX/XXXX since there had been no contact received from PHH Mortgage. At this point XXXX spoke to a customer service representative at PHH Mortgage by the name of XXXX. XXXX told XXXX that again there was nothing that could be done about the foreclosure and that XXXX needed to contact the local Sheriffs department. XXXX immediately called the Sheriffs department in XXXX County and was told that there was no record of a foreclosure sale on the property of XXXX XXXX XXXX XXXX. XXXX NH. Additionally XXXX was told that XXXX would have been served paperwork by the Sheriff 's office if there was in fact a foreclosure sale occurring on the residence. XXXX immediately called back PHH Mortgage and spoke to XXXX again. XXXX reported what the Sheriffs office told her. XXXX stated that the Sheriffs office must not have received the paperwork at that point. XXXX called back the Sheriff 's office and was told that there would need to be paperwork on file in order for there to be a foreclosure sale of the house. On XX/XX/XXXX XXXX called again to PHH Mortgage to see if XXXX could speak to XXXX XXXX, at this point there had been no contact made between XXXX and XXXX. XXXX spoke to another customer service representative named XXXX. XXXX told XXXX that XXXX was not able to schedule a time for XXXX to call XXXX and that XXXX should call daily regarding the status of the check that was written on XX/XX/XXXX to bring the loan with PHH mortgage current. At this point daily phone calls were made to PHH Mortgage by either XXXX or XXXX to determine the status of the process of rescinding the foreclosure sale. At no point in time during this whole endeavour has PHH Mortgage made an effort to contact XXXX and/or XXXX. On XX/XX/XXXX after speaking to PHH Mortgage and being referred again to the law office of XXXX XXXX XXXX, XXXX spoke to XXXX at the law office. XXXX was looking for information about rescinding the foreclosure sale of the residence and how to bring the loan current. At this point XXXX sent a note to PHH Mortgage requesting for PHH Mortgage to call either XXXX or XXXX regarding this matter. Contact was never made. Based on XXXX suggestion and follow up to the conversation XXXX had with XXXX it was suggested for XXXX to follow up in an email to PHH Mortgage. The email was requesting a call back from XXXX XXXX who was assigned as the new designated contact. On XX/XX/XXXX a return email from PHH Mortgage was received by XXXX seeking proof of funds such as a bank statement. XXXX immediately emailed back with bank statements and indicated that if PHH Mortgage needed more information for PHH Mortgage to either contact XXXX and/or XXXX and they would supply proper documentation. On XX/XX/XXXX XXXX sent a follow up email since there was no communication back from PHH Mortgage to see what else PHH Mortgage needed. On XX/XX/XXXX an email was received by XXXX from PHH Mortgage stating that PHH Mortgage would follow up in a week. On XX/XX/XXXX a voicemail message was received on XXXX cell phone from XXXX. XXXX provided XXXX with a call back number and an extension. When XXXX called back, shortly after the message was received, there was no place for XXXX to enter an extension and the customer service representative was not able to transfer the call. Additionally on XX/XX/XXXX a letter dated XX/XX/XXXX was received by XXXX and XXXX. The letter was from XXXX XXXX. The letter was returning the check that was written on XX/XX/XXXX saying that the amount was not sufficient enough to bring the account current and that XXXX and/or XXXX could contact XXXX at her direct number and XXXX would be able to assist determining the amount necessary to bring the loan current. Again, when XXXX called the number provided XXXX was not able to enter the extension and was told that XXXX was no longer the Relations Manager for this account and that XXXX was. XXXX also contacted the law office of XXXX XXXX XXXX and spoke to XXXX. XXXX told XXXX that since the sale of the house went through only PHH Mortgage could rescind the sale and that there was nothing the law office could do. On XX/XX/XXXX XXXX again called PHH Mortgage to see what the status of the process is at. XXXX spoke to a customer service representative named XXXX. XXXX indicated that there was nothing PHH Mortgage could do and that XXXX needed to speak to someone at the law office of XXXX XXXX XXXX. XXXX stated that she has been going back and forth between PHH Mortgage and XXXX XXXX XXXX and that XXXX is looking to get clarification on what needs to be done to rescind the foreclosure sale and how much it will cost and what form the payment needs to be in. When XXXX asked to speak to XXXX XXXX was told that XXXX is not able to receive incoming calls and that XXXX can only make outgoing calls and because of the status of the account XXXX could not be scheduled to call either XXXX or XXXX even though XXXX is the designated Relations Manager for this account. At this point XXXX stated that she would be putting in a ticket to determine the amount necessary to bring the account current. On XX/XX/XXXX XXXX sent a follow up email to XXXX and XXXX following up with the letter that was sent from PHH Mortgage dated XX/XX/XXXX. XXXX was looking for information about rescinding the foreclosure sale and the amount necessary to bring the account current and the form of payment necessary to do so. XXXX never received a response back. Also on XX/XX/XXXX XXXX called PHH Mortgage again and spoke to XXXX ( employee number XXXX ) to be put in contact with XXXX, whom at this point neither XXXX or XXXX have ever spoken to, and to determine the status of the ticket that XXXX put in on XX/XX/XXXX. XXXX was told that the ticket requesting the amount to bring the account current was denied and that XXXX needed to contact the State of NH to see about redeeming the property and that XXXX would need to be prepared to pay the principal balance of the mortgage in the amount of {$41000.00}. XXXX then contacted the New Hampshire Banking Commission by both email and phone. After a month of repeated follow ups to PHH Mortgage to rectify the situation all XXXX and XXXX have received is misleading information and the run around ( i.e numerous phone calls between PHH Mortgage and the law office of XXXX XXXX XXXX ). This is what has led XXXX and XXXX to file this complaint As of XX/XX/2020 XXXX and XXXX have hired a lawyer, XXXX XXXX, but we are still getting the runaround. To be clear, PHH is not the majority lender on this property. They are only 20 %. XXXX XXXX is the primary lender ( 80 % ). The account with XXXX XXXX is current and XXXX XXXX does not know anything about a foreclosure.
Company Response:
State: NH
Zip: 038XX
Submitted Via: Web
Date Sent: 2020-04-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-15
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I have had a mortgage loan with Ocwen/PHH for several years and in XXXX of 2020 decided to refinance due to lower interest rates and better loan terms. The loan was a modification and was an interest only. The loan amount owed is {$590000.00}, therefore, a jumbo loan. The monthly payment was {$2700.00} which included taxes and insurance. The title company, XXXX XXXX wired {$600000.00} to Ocwen/PHH on XX/XX/2020 and escrow closed on XX/XX/2020. However, I was advised by XXXX XXXX in XXXX, AZ ( Escrow officer on XX/XX/2020 ) that the funds had been rejected and returned by wire transfer from Ocwen/PHH due to the property tax shortage. They held {$600000.00} for 14 days and did not alert me, the title company or my mortgage broker. Now they are saying that I owe them {$1200.00} and some change in interest because of the so-called shortage. The tax impound amount was wired to Ocwen/PHH along with the payoff and confirmed receipt by the title company on XX/XX/2020. They ( Ocwen/PHH ) have yet to request the return of the payoff and now I have two huge mortgages outstanding as the {$600000.00} was sent back to the title company and the new loan payment from the new lender is due on XX/XX/2020. Why did they hold the payoff, {$600000.00} for 14 days and did not advise anyone of their error until XX/XX/2020. They have not reconciled this situation as yet and I feel as though there may be some underlying reasons for this. In the meantime, my credit rating is in jeopardy and still show that I have two mortgages as the title company is in possession of the {$600000.00}. Please investigate this as something is appears to be seriously wrong. I am a senior citizen and certainly can not afford to be the victim of their wrongdoing and/or error.
Company Response:
State: AZ
Zip: 85213
Submitted Via: Web
Date Sent: 2020-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The mortgage company is PHH Mortgage, in XX/XX/XXXX we received a letter from XXXX C/O PHH Mortgage Services informing account holders options for pmt. of property taxes in Wisconsin held in an escrow account ( our taxes were held in escrow ). We contacted XXXX XX/XX/XXXX to inquire about this letter as we were unfamiliar with XXXX, spoke with XXXX we were informed it was a name change for PHH Mortgage, and regarding the document we received do not do anything with that, they ( XXXX ) will look into it and call us back within the next week to tell us how to proceed. Not having heard anything called XXXX again XXXX XXXX, XXXX spoke with XXXX, we were told to check the box saying we wished to have our escrow check sent to us by XX/XX/XXXX, which I did, returned the document that same day, XX/XX/XXXX. Not having received our check to pay property taxes, we called XXXX on XXXX XXXX, XXXX to inform them of such, XXXX said they never received the form dated XXXX XXXX, XXXX, therefore XXXX would be paying our property taxes in multiple installments when due. We told them we always had checks mailed to our home and we pay our own taxes and requested they send the check to us, they indicated they would send the check to us by XXXX XXXX, XXXX so we could pay our taxes. On XX/XX/XXXX I also faxed a copy of the form signed XXXX XXXX, XXXX -- tried 5 different times, each time faxing failed -- unable to connect, I also tried calling XXXX and XXXX, each time unable to leave a voice mail. Not having received the escrow check, and waiting until the very last moment we paid our taxes ourselves writing a check for the full amount {$2600.00} on XXXX XXXX, XXXX. In the meantime, due to the difficulties we were experiencing we decided to refinance with another institution. Around the end of XXXX XXXX we received a ltr from XXXX dated XX/XX/XXXX saying they received a correspondence and as soon as their research completed, they would promptly send us response. Due to our continued difficulties with XXXX we ultimately refinanced, closing on XX/XX/XXXX. We again reached out to XXXX, on XXXX XXXX, XXXX, spoke with XXXX XXXX to inform them we paid out taxes and we would be refinancing. I was informed a request would be submitted to not have our taxes dispersed. I asked about our escrow was told {$1600.00} would be returned to us, I informed them the amount was incorrect, if {$1200.00} had not been dispersed why would we only get {$1600.00} back, finally I was told a check in the amount of {$1200.00} was indeed dispersed on XXXX XXXX, XXXX and it was made out to XXXX XXXX Treasurer and when the treasurer received the check the treasurer would have to refund us the {$1200.00}. We contacted our treasurer, ultimately every other day, to inquire if she received the check she had not and it was illegal for her to reimburse us that legally she had to return the check to the mortgage company and they would need to send me the monies. On XX/XX/XXXX our treasurer received a check in the amount of {$1200.00} and returned it to XXXX XXXX. We expected we would receive the monies in our escrow account after the return of the {$1200.00}. Around XX/XX/XXXX we received a ltr from XXXX thanking us for paying off our mortgage and enclosed a check for {$1600.00}, not the full amount in our escrow. On XX/XX/XXXX I reached out to our loan office to see what we could do to get the {$1200.00} back and was advised that I call XXXX and ask that a stop payment be issued on the {$1200.00} check which was returned to XXXX XXXX. Following that advice, I called XXXX, spoke with Agent XXXX, I asked that XXXX stop payment on the check in the amount of {$1200.00} and reissue a new check to us in the amount of {$1200.00}. As of XX/XX/XXXX, we have yet to receive the check in the amount of {$1200.00}, monies from our escrow account we paid each month along with our mortgage payment. I have attached documentation which shows XXXX paid {$1200.00} in " City Tax '', and issued 2 refunds in the amount of {$1600.00}. However, to date they have failed to refund to us the remaining {$1200.00}. Legally they have 30 days to return the monies, it has now been over 60 days. These are monies that are owed to us, it is our money, it is not for XXXX to keep!
Company Response:
State: WI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-15
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: The undersigned, XXXX XXXX, is being named Defendant in a wrongful foreclosure lawsuit against him brought in the name of XXXX XXXX XXXX, ( no address was provided ) allegedly as Trustee, on behalf of unidentified purchasers of so-called mortgage pass-through certificates, series 2006-AR6, of a non-existent XXXX XXXX XXXX XXXX ( not registered anywhere ) ( Case # 2018ca2401 Manatee County, Florida ). Attorneys for claimant ( s ), whoever they are, do not dispute that these " claimants '' have no relation to the alleged debt as they have never purchased it ( which is a clear requirement under Article 9-203 of the Uniform Commercial Code ), have never had it on their books as an asset or a liability, have suffered no damages, but are set to receive unlawful off-the-books profits from forced sale of the homeowner 's property ( and have already achieved that in thousands upon thousands wrongful foreclosures around the country ), and would stop at nothing to hide their identities with their counsel 's collaboration. The complaint, however, does state and make the Judge believe that foreclosure sale of the property is to repay the debt owed to claimants, which is not true. A case from Washington State, Cashmere Valley Bank v. State of Wash, Dept of Revenue, 334 P. 3d 1100 ( Wash. Supreme Court 2014 ) explains in detail investment certificates are not secured and not entitled to foreclosure. PLEASE HELP me personally and also forward it to Task Force Docket # XXXX to help thousands of of other homeowners being wrongfully foreclosed upon.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-04-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I lost my job on XX/XX/XXXX and was offered a forbearance agreement by PHH Mortgage that will allow me to skip 3 months payments but then have to pay all 3 months plus the current month in XX/XX/XXXX ( a total of 4 payments totaling {$9100.00} ) which will be impossible on my unemployment income which is 18 % of my regular income. This solution will put me in default on my mortgage and I then risk losing my home to foreclosure. This is a strategy that is very similar to the one banks and mortgage servicers offered during the financial crises where they advised homeowners to miss payments only to then aggressively foreclose on borrowers who could not pay the missed payments in one lump sum. I am alerting the CFPB that their solution is not viable and will result in massive foreclosures as we saw in XXXX, XXXX and XXXX when borrowers were unable to pay missed payments. PHH also used the following language in their forbearance letter to me : " Upon completion of this plan, the accountholder will be required to resume making regular monthly mortgage payments. However, other long-term mortgage assistance options may be available at that time. Before the end of the plan, we will contact the accountholder to discuss available mortgage assistance options for repayment of the deferred payments which may include a repayment plan, a payment deferral, or other loan modification options. '' This is exactly the kind of language that allows the servicer to control the foreclosure process in 3 months. By using non-committal language they are able to scam the borrower into a forbearance program without any specific solution in writing. And once the borrower is 4 months behind, technically in default on their loan the options they have are minimal. I know this as I fought in XXXX to keep my home and I am very aware of the mortgage servicer tactics they used and they are using the same ones in XXXX. Thus I have requested a 6 month mortgage deferment ( in writing via a certified return receipt letter ) from PHH so that I can have 6 months placed on the end of my loan. I only have 15 years left on my loan and if I have 15 years and 6 months left it will not make a big difference. However, falling 3-4 months behind while earning 18 % of my normal income during this pandemic will make a huge difference and I risk losing my home to foreclosure. Please help me work with my servicer PHH to get a workable 6 month mortgage deferment placed on the back end of my loan instead of a 3 month mortgage forbearance that would put me at risk of foreclosure. Thanks XXXX XXXX XXXX XXXX
Company Response:
State: CA
Zip: 92111
Submitted Via: Web
Date Sent: 2020-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A