Date Received: 2018-06-05
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: Complaint : SPS 's failure to specifically and sufficiently respond to consumer 's notice of error or information request or qualified written request or CFPB complaints. Attn : XXXX XXXX, Relationship Manager, XXXX XXXX, Consumer Ombudsman Specialist, XXXX XXXX, Ombudsman Specialist XX/XX/XXXX Select Portfolio Servicing Inc. XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX Fax XXXX Account # XXXX RE : Notice of Error or Information Request or Qualified Written Request Please respond to the following errors and/or request for information : # 1 In a letter dated XX/XX/XXXX SPS states, " We determined that we are unable to assist you in this proposed arrangement because pursuant to the servicing agreement governing this account, the owner of your mortgage has a right of approval and has denied this option based on a business decision. '' What proposed arrangement is SPS referring to? Please provide copy of the section of servicing agreement that prohibits such arrangement. Note that just a day prior on XX/XX/XXXX, I received a letter that stated, " SPS, the mortgage servicer on the above referenced account, is currently reviewing your request for options to resolve the delinquency on this account. '' # 2 SPS failed to respond to the following concerns regarding CFPB # XXXX : In a letter from SPS on XX/XX/XXXX, SPS states, " To reiterate, you question SPS adding Lender Placed Insurance ( LPI ) to the account. SPS does not show that any LPI has been added to the account. '' If that is the case, please explain why on the latest Mortgage Statement under transaction activity, there is a line item titled Taxes & Insurance. The amount is {$1200.00}. On XX/XX/XXXX SPS paid taxes in the amount of {$1100.00} ( on wrong property per note and mortgage ) for a difference of {$110.00}. What was the additional {$110.00} for? Insurance? In addition, there are " other fees '' listed for XXXX cents and " expenses pd by servicer '' in the amount of {$160.00}. Please provide account history detailing all charges for account # XXXX with justification. # 3 The following concerns noted in CFPB # XXXX were not addressed in SPS 's latest response dated XX/XX/XXXX : A ) Loan Modification ( dated XX/XX/XXXX ) falsification allegations, B ) Conflict of information regarding address of XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX, XXXX XXXX vs XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX. Which is it? C ) Role of Relationship Manager XXXX XXXX. Why have I never heard from her? # 4 In a response from SPS dated XX/XX/XXXX, SPS states, " In your inquiry, you state that we do not have the correct legal description for the subject property. SPS appreciates you pointing this out and has referred this issue to the appropriate department for research and if necessary correction. '' What is the current status? What is the legal description in the note and mortgage SPS is attempting to collect debt on? What is the address of the property SPS is attempting to collect debt on? What deed is attached to the property that SPS is attempting to collect debt on? # 5 In a response from SPS dated XX/XX/XXXX, SPS states, " The account was modified on XX/XX/XXXX ( Enclosed ). '' Besides the fact this document was allegedly fabricated, the Loan Modification Agreement itself under any circumstance precludes the assumption or assignment of the modification agreement ( Modification Agreement, section G. titled Loan and Agreement May Not be Assigned ). The Loan Modification Agreement is null and void. As I have previously pointed out, the recorded notes and mortgages fraudulently established and sold by Beneficial Homeowner Services to the alleged new owner/noteholder, and now serviced by SPS, are severely deficient and unenforceable. I continue to dispute all alleged debt associated with account # XXXX. XXXX XXXX XXXX XXXX and SPS as servicer continue to try to enforce an unenforceable and erroneous obligation. To date, they have erroneously paid property taxes, conducted erroneous inspections, including a Broker Price Opinion and threaten foreclosure on a property they have no legal security interest in. Besides legal ramifications based on the above allegations, please allow me to remind SPS of it's RESPA obligations regarding Notices of Error or Information Requests or Qualified Written Requests.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-06-05
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I timely submitted to SPS an appeal of the denial of my application to SPS ; SPS has not issued a response to that appeal. Despite the fact that loss mitigation is pending, SPS has scheduled a sale of my home for XX/XX/XXXX. There mere fact that a sale has been scheduled while loss mitigation is ongoing is DUAL TRACKING which is prohibited. I am also in receipt of SPSs mortgage statement dated XX/XX/XXXX, claiming {$1100.00} in charges/fees for FC ATTY FEES and FC COSTS. I am assuming that there are other 3rd fees and costs assessed to my account in prior months. As Im sure SPS is aware, RESPA prohibits charging borrowers 3rd party fees if the work if not actually performed. Specifically, 12 C.F.R. 1024.35 ( b ) ( 5 ) requires that the servicer may only charge bona fide fees ; fees that the servicer determined it had a reasonable basis to impose. However, a servicer may not charge a for service that a service provider did not actually provide. Therefore, in order to prove these above noted fees are legitimate and all fees and costs assessed to my account, I demand a copy of all invoices evidencing all fees and the work completed for all fees charged. If I am expected to pay these fees then SPS must prove that are bona fide fees within RESPA. These errors on SPS part must be addressed and reconciled immediately, specifically, pursuant to Regulation X, 12 C.F.R. 1024.35 ( d ) and ( e ), SPS has 5 days within which to acknowledge receipt of this request and must respond no later than 7 days. Until these errors are properly addressed and corrected by SPS, there can be no sale scheduled on our property ; the currently scheduled sale for XX/XX/XXXX, must be canceled if the errors are not corrected. See Reg. X, 12 C.F.R. 1024.35 ( e ) ( 3 ) ( i ) ( B ) and 1024.35 ( f ) ( 2 ) ; Official Bureau Interpretation, Supplement 1 to Part 1024, 35 ( e ) ( 3 ) ( i ) ( B ) -1. Therefore, we are requesting that you cancel the sale so that our appeal and previously issued Notice of Error have been addressed. I also submitted the following QWR : As there exists violations and omissions in my account with SPS, this is a Qualified Written Request ( QWR ) under Section 6 of the Real Estate Settlement Procedures Act ( RESPA ) which is issued to obtain specific documents pertaining to my mortgage loan. SPS, be advised that under recently-amended Section 6 of RESPA, SPS must acknowledge in writing its receipt of this QWR request within five ( 5 ) business days of receiving it ; to issue a substantive response to the requested information within thirty ( 30 ) business days ; and to reconcile existing irregularities or inconsistencies within a maximum of forty-five ( 45 ) business days ( The Dodd-Frank Wall Street Reform and Consumer Protection Act allows for a 15-day extension only if I am informed about it and given the reasons for the extension ). A failure to comply with this request may result in fines of up to {$2000.00} plus any attorneys fees and costs. In addition, RESPAs Section ( 12 U.S.C. ) 2605 ( e ) ( 3 ) directs SPS as the loan servicer to not report negative information regarding my account to a consumer reporting agency during the 60 days following receipt of the QWR concerning overdue payments related to that period or to the QWR. Please ensure that all copies of the following documents that SPS provides are clear, legible, and copied in their entirety. I will check off the following items I receive from you as you provide them : An escrow analysis to reflect an itemization of the current amount clamed due ; Initial Loan Application and Final Loan Application ( 1003 ) ; Deed of Trust/All Addendums ; Copy of Wet-inked Note signed, with All Endorsements and/or attached Allonges ; Copy of any and all Assignments of Mortgage ; Copy of Complete Loan Payment History This must include all payments made, all fees incurred, any and all escrow account disbursements and how payments were applied, any and all payments listed as Corp Adv Statutory Exp Disb and/or Corp Adv Attorney Advance Disb, Other Fees & Adv, Unapplied Funds, fees and costs associated with any appraisal-related, loss-mitigation related ( short sale ) fees, legal fees, etc., on any payment coupon statements/detailed transaction history print-outs issued by SPS and all disclosures and rate sheets ; All escrow analyses conducted on the account from the inception of the loan to the date of this letter ; Truth-in Lending Statements and Disclosures ; All loan servicing agreementsincluding any modification decisions or declinations -- between the loan servicer ( s ) and the loan originator, the note holder/lender ( including nominees holding legal title such as XXXX ), and/or trustees from inception of the loan to the date of this letter ; All letters, statements, affidavits, and documents ( including Limited Power of Attorney if applicable ) sent among agents, attorneys, or representatives of your company ; Itemization of Amount Financed ; Good Faith Estimates ; Estimated and Final Closing Statements ( Final HUD 1 ) ; Appraisal, and Current Fair Market Value of property including the basis for this determination ; Title Report ; All insurance premiums along with an accounting of timely payments made to the insurance company throughout the servicing of the loan ; Grant Deed ( s ). RESPA also requires : Copies of all executed loan modification agreements ; Documentation of all loss mitigation eligibility determinations, evaluations, and actions taken on this mortgage loan ; Copies of all correspondence to me from SPS, if any, regarding adjustments in fees and charges, and any involving loss mitigation for this mortgage loan, including modifications, forbearance arrangements, or short-sale arrangements and all notices of default ; A full accounting of all money paid and received on this mortgage loan account from any third party sources, including agreements, contracts, and understandings with vendors that have been paid for by any charges on the account from the inception of the loan to the date of this letter ; Additionally, please provide, in writing, the following : ( 1 ) Please identify the name, address, and telephone number of the current owner ( beneficiary ) of the Note ; ( 2 ) Please identify the name, address, and telephone number of the beneficiary named in the Deed of Trust if different from that of the lender, and the authorization allowing such ; ( 3 ) Please identify the name, address, and telephone number of the secured party ( the current owner of the mortgage ) ; ( 4 ) Please identify the name, address, and telephone number of, and any and all fees provided to, the mortgage broker ( s ) involved in this mortgage loan ; ( 5 ) Please identify the current location of the originals of the entire loan file, and describe the manner in which they are stored, maintained, and protected.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 24019
Submitted Via: Web
Date Sent: 2018-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-06-04
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My home I have owned for 13 years is set to be auctioned by Select Portfolio Servicing on XX/XX/XXXX. I live in the home with my adult daughter and we can afford a fair mortgage payment so this situation is avoidable. We actually were offered a modification by Select Portfolio Servicing and made our payments for six months. We then received paperwork that we were approved for a permanent modification, however, the loan balance increased significantly and the payment was also much higher than the original modification. We could not figure out how they came up with these numbers based on our income. We were not able to afford that payment and had to decline the offer. We asked why we had not been considered for any of the new GSE programs available to homeowners with conventional loans backed by XXXX XXXX and XXXX XXXX but could not get any answers. We then hired a law firm to help us and once again, we eventually received an offer, but this new payment was close to 80 % of our monthly income and not affordable. We tried to get answers as to how this was calculated and what programs we had been reviewed for but could make no progress. This loan was originated by XXXX back in XX/XX/XXXX. I wanted to lower my rate and payment and had to trust XXXX because I spoke little English at that time ( was primarily XXXX speaker ). There were many things that seemed odd and rushed about the loan process ( I have a lot of questions about the appraisal and value ) and based on what XXXX did to inflate values and peddle predatory loans this all made sense. I paid as agreed on this loan for nearly 10 years. I work as a XXXX XXXX to XXXX XXXX and my adult daughter also lives with me and contributes 100 % of her income toward the household expenses. Due to some health and employment gap issues we fell behind in XX/XX/XXXX. Around that same time our loan was transferred from XXXX XXXX XXXX to Select Portfolio Servicing. We got all of our financial information together and submitted it to them and were given a fair and reasonable trial modification. I made 6 payments on the trial modification as agreed but when I received the final permanent modification documents the balance of the loan had been significantly increased as well as the monthly payment which was close to half of our monthly income. We were not able to afford this payment and had to engage a law firm to assist us. They sent in another application and we were once again approved but this time the payment was even higher than before. We have since tried to engage with SPS to find out how and why they came up with these calculations and also find out what programs we were considered for. I don't believe that we were considered for any of the new GSE programs that were established to help homeowners. Instead of getting answers we are being denied information and denied access to a review of our current and correct financial circumstances. We are facing a sale date on XX/XX/XXXX.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-06-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-06-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I XXXX XXXX does hereby approach the Consumer Financial Protection Bureau to see if a federal agency can be of assistance mitigating a home foreclosure. My home was originally owned by my father, who has recently filed for a bankruptcy petition that was thrown out of court. Recently my father decided to move back to the XXXX XXXX, and I was given title to his home, where I happen to live with my husband and XXXX children. A copy of the deed transfer is attached. The balance on the mortgage is over {$220000.00}. The property may sell at foreclosure for {$70000.00} to {$80000.00} at best. I can bring in an attorney to address the court for a hold on the scheduled foreclosure of XX/XX/XXXX, so that a proposal can be made to take over the existing mortgage under a modification agreement with a specified amount to be placed in forbearance. I am a member of the XXXX community, obviously a XXXX, who is a professional in the field of XXXX XXXX XXXX. My father has signed a full power of attorney to handle the mortgage negotiation as if I was first person. However, time is short and I wish to maintain ownership under a modified payment arrangement. Accordingly, I need a communication process opened immediately, and a postponement on the scheduled XX/XX/XXXX foreclosure date. It was my father that let this mortgage get out of hand, and now I have been placed in a position whereas I can afford a mortgage payment, but there is a specific deadline on making such an arrangement. There is an unanswered QWR that my father filed back in XX/XX/XXXX that under the power of attorney now belongs to me as property owner, and this is a true violation under the Fair Debt Collection Practices Act.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 01104
Submitted Via: Web
Date Sent: 2018-06-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We have had a very difficult time with Select Portfolio Servicing ( SPS ). We had to file a bankruptcy to avoid a foreclosure. We are finishing up with the bankruptcy and SPS has given us a modification. The modification payment went up {$2400.00}!! We understood that the payment may be higher but the not that much. We asked SPS why the payment went up so much, and they said they didnt know. SPS also would not tell us how much went to the principal and how much went to interest. SPS would not tell us the interest rate and we have to take this modification. Very important to know. We are NOT PAST DUE on our mortgage. Our bankruptcy caught us up. We have confirmed this with SPS. How is this legal? This seems like predatory lending practices!!
Company Response:
State: CA
Zip: 91911
Submitted Via: Web
Date Sent: 2018-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been trying to work with SPS Mortgage and the XXXX XXXX of Washington, D.C. since XX/XX/XXXX to complete a short sale for the Estate of XXXX XXXX, my the personal representative for this estate - Property located at XXXX XXXX XXXX XXXX. Washington, DC XXXX. We have had several court dates since the inception of this short sale listing with DC 's XXXX XXXX with the lender attempting to get approval to proceed with the foreclosure against the estate. It's been 3 years since the mortgage was paid and since the owner died. We have had a ratified sales contract on the property ( with the same buyer ) since XX/XX/XXXX. We are to the point now of getting the short sale approved. We've submitted this file for short sale review at least 7x. The file has been denied 6 out of 7 of those times for various reasons. This time ( No. 7 ) the file was denied for a mysterious insurance claim. Apparently the claim was filed by the mortgage company who is aware that we have a court date on XX/XX/XXXX. The purpose of this date is give one final attempt to short sale ( CASE NO. CA XXXX-XXXX XXXX XXXX XXXX XXXX vs. Estate of XXXX XXXX XXXX ) this property and we were told by the judge that if the sale was not completed by then then foreclosure would be granted to the bank - SPS ( SPS has had a completed file from the beginning but since XX/XX/XXXX, for our 6th attempt at this sale. The short sale was denied at least 3x because the bpo appraiser could not get access to the boarded property. SPS refuse to take an exterior bpo. They have been in possession of a completed file actually every time we have started and restarted this process. WE've been told since XX/XX/XXXX that the file was in for final review. For the last 6 months, the home was been boarded up to protect it from squatters, vandals, more rodents and further needed repairs. Mysteriously the boards came off back in XX/XX/XXXX and a lockbox was installed by a XXXX XXXX XXXX per the request of SPS ( again mysteriously since they denied 3 prior short sales due to the inability to enter the property ) and finally the interior BPO was able to be completed thereby making our file finally complete and ready for short sale review XX/XX/XXXX. A few times before the appraiser could not enter the property because it was boarded by the DC Government and deemed a blithed property. On XX/XX/XXXX we requested our file to be escalated to a supervisor as we were told it was with the investor and any day now we could receive an approval letter. On XX/XX/XXXX, we found out that an insurance claim was filed by the bank - SPS and a check issued to the attorney XXXX XXXX in the amount of {$7900.00} on XX/XX/XXXX. XXXX XXXX represents SPS. The claim was filed by the bank and mailed to XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, CA. The insurance company is XXXX XXXX and the phone number is XXXX. XXXX XXXX works for the bank and with the insurance company and approved this claim payment and her number is XXXX. WE have been told since XX/XX/XXXX and our several attempts of escalating this case to a supervisor that it was " pending approval ''. As of XX/XX/XXXX, we were told that this file was denied due to an open insurance claim even though the claim was paid out. This claim and case has now been closed as of XX/XX/XXXX and we are now being told that we have to start the entire short sale process over for the 7th time - more paperwork, another appraisal, and wait for approval AGAIN. This is terrible considering the lender has essentially sabotaged this sale and maybe stalled ON PURPOSE in order to be able to be granted the ability to proceed with foreclosure to get the property back by the XXXX XXXX of the District of Columbia. Our original offer/list price was for {$65000.00}. The property appraised for {$110000.00} less than a year ago and we were ready to move forward. The bank told us ( despite all of the comps ) that the new value was {$140000.00} which is not supported by any sale in the neighborhood. The cash buyer agreed to accept this valuation and to continue with the short sale and is ready to close upon bank approval every since XXXX. The title company has pulled title and cleared all liens and judgements. We do not see why this short sale has to be re-started nor take yet another 30 or more days for approval considering that the court has issued it's proclamation that after XX/XX/XXXX the foreclosure will be granted to the bank. This is an urgent matter. Its terrible and predatory. Its a violation of the Home Affordable Act. The bank is not doing their best to expedite this matter and are personally trying to stop this family from selling this property and we need some assistance. SPS has essentially filed a bogus insurance claim and committed insurance fraud. NO claim or check should have been issued with out the knowledge and approval of the estate since the estate is still rightfully owned by the decease and managed by her personal representative.
Company Response:
State: DC
Zip: 20016
Submitted Via: Web
Date Sent: 2018-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Client was going through loss mitigation. XXXX sold the loan to SP Servicing in XX/XX/XXXX. We got approval to do a short sale. We priced the home exactly where the bank told us too. Within a short amount of time we received an offer - XX/XX/XXXX. It is now XX/XX/XXXX still no response. I called. approximately 3 weeks after offer submission. Was told documents were missing. Obtained documents, sent them in. Nothing. Called approximately two weeks after that. Was told documents were missing. I explained they were sent in the same day I last called. " Oh here they are - well we need a differenct correction/paper/etc. '' I even XXXX XXXX XXXX out for this bank. Told I couldn't do that and had to put it back on. That was wrong - it needed to be a different amount even though I asked specifically " What do you want me to put? '' Fine. Corrections done and all docs resubmitted. I have been dealing with them since XX/XX/XXXX approximately every two weeks. I talk to a different person each time. Some friendly and helpful some not - my client, the homeowner, also calls often. EVERY SINGLE TIME - always something needs changed or changed back. I called today after submitting yet another correction for the THIRD TIME that had already been done and submitted previously! I was told the short sale is now expired and we are no longer in short sale. My client is devastated. We have done EVERYTHING this bank has wanted. Every correction every extra piece of information and now this. Over six months of trying to get my elderly client underneath this home - only to get the runaround and no one that can actually help. I talked to CSR 's. I talked to supervisors. I have been nice. I have been hateful. No one seems to know whats going on or how to help. I have been in XXXX XXXX for over 15 years. I specialize in XXXX 's. I know how to read a contract. I know how to deal with banks. Never, ever have I had an experience like this. I want someone to help. I have a client needing to sell. I have a buyer that met bank requirements. Why can't we sell this property? Why is the bank doing this? My client can not afford a lawyer. I don't know what else to do.
Company Response:
State: IN
Zip: 47304
Submitted Via: Web
Date Sent: 2018-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We attempted to do a short sale last year in XX/XX/2017 and we were successful in doing so, being approved by the 2nd mortgage SPS in XX/XX/XXXX. The 1st mtg is with City of XXXX and we were also working on an approval but the City of XXXX has covenants on the property that directed the Buyer to have to purchase another lot that was owned by the Homeowner. This lot is not mortgaged, but there is a standing issue regarding a fraudulent deed. We could not fix it in time in XX/XX/XXXX so the Approval for SPS lapsed. About 2 months ago, we informed the Lender that the Buyer has informed us that he found an attorney that could fix the fraudulent deed issue and it was a matter of waiting for a court to approve certain paperwork. SPS however, still moved forward with foreclosing. We re-sent the Buyer 's offer ( that was once approved ) and asked for re-approval but SPS informed us that they could not stop the auction because " the judge is the only one that can stop it ''. This is not correct since Massachusetts is not a judicial state. We will be escalating this file every day but we need assistance.
Company Response:
State: MA
Zip: 02124
Submitted Via: Web
Date Sent: 2018-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-31
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: Thereto the law of the FDCPA XXXX XXXX and his letter alleges to be a customer advocate for SPS on behalf of XXXXXXXX XXXX XXXX the alleged original lender. The alleged original lender has never attempted to collect an alleged debt nor has said company that being XXXXXXXX XXXX XXXXXXXX has ever contacted the customers herein this matter. Therefore XXXX XXXX and SPS along with XXXX XXXX XXXX XXXX XXXX [ XXXX ] and others not limited thereto employees of all said companies former and present are being forewarned that the mentioning of a debt without verification and validation is a Fair Debt Collection Practice Act issue and shall be addressed herein. XXXX XXXX on behalf of all mentioned companies have lied, he nor any company has ever attempted to validate nor verify this alleged fraud debt. There is no contract between XXXXXXXX XXXX XXXXXXXX now doing business as XXXXXXXX XXXX XXXXXXXX and said company has never attempted to contact the customer. As such this notice of Default and dishonor has been forwarded herein thereto all in this matter and collections has taken place with interest and such shall be filed in Federal Court within the USA.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-29
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I purchased a foreclosed home back is 2005 for XXXX. We could not get a conventional loan so we were able to get a stated income, adjustable rate mortgage. I remember the mortgage company telling me to say I made {$100000.00} a year so we could get approved, but I refused and they were able to secure it without my singing the documents. We opened an ARM with XXXX in 2005 for the principle amount of XXXX. We have made all our payments and our principle balance is still XXXX. that means we have only payed XXXX over the 13 year life of the loan? that's less then {$100.00} a month. We also received notification that our rate was increasing to 9.75 %. We don't understand how our interest rate could go up when the interest rate is at an all time low. We tried to refinance with XXXX mortgage. The underwriters at XXXX told us we didn't show enough income on our current taxes to qualify for a refinance?
Company Response:
State: OH
Zip: 440XX
Submitted Via: Web
Date Sent: 2018-05-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A