| 06/07/2021 |
No |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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I worked in the XXXX XXXX XXXX and XXXX XXXX XXXX XXXX, XXXX and XXXX. I was an XXXX XXXX as a result of the corona virus pandemic we started receiving word in XXXX and early XXXX that our normal work was possibly going to be cancelled or postponed due to the corona virus pandemic. Going off the information that our president of the United States and our government was telling us we were staying optimistic that we would be out of work for a short period of time. Which we now realize in XXXX was not the case. As of today we are waiting for word if our XXXX XXXX Nevada show will go on as planned in XXXX of XXXX. As a result of not having work because of the corona virus I started communicating with my loan servicer who I had found out about a month earlier that my mortgage had been sold from my previous loan company which was XXXX XXXX home loans and is now being serviced by XXXX XXXX XXXX XXXX XXXX XXXX XXXX ca XXXX. Phone numberXXXX. And the new owner of my note being XXXX XXXX XXXX XXXX XXXX as owner trustee of the residential credit opportunities trust XXXX. I started communicating with XXXX in XXXX of XXXX because they were the phone number and contact information on my mortgage statement. After staying in at least weekly contact with a representative named XXXX I was being assured by him that because of the worldwide pandemic there would be no problem in getting assistance in the form of a forbearance or just putting some of my missed payments on the rear of the loan. In addition to me staying in touch with him weekly I also had sent him emails showing documentation of being out of work. Then all of a sudden out of the blue on XX/XX/XXXX which that day I was very depressed from being out of work and the delay of the states program to get financial assistance for people being affected by the pandemic. A call comes in from a man who identified himself as XXXX XXXX as the owner of my mortgage. I immediately thought this is very strange since in all of my 55 years of having loans its usually the servicer that contacts you. I had informed him that I had been in constant contact with XXXX at XXXX. He informed me that XXXX no longer worked there and that he would be the one in charge of any modification or forbearance of my loan. Over the course of the approximate next 30 days I sent him my hardship letter also all of the emails I had sent to XXXX from XXXX. Also had stated in a letter dated XX/XX/XXXX that I could immediately make two mortgage payments through XXXX XXXX or cashiers checks. But I would need XXXX, XXXX, and XXXX of XXXX payments put into a forbearance agreement or put on the rear of the loan. I also informed him that from XX/XX/XXXX payment on there would be no delinquencies and I would be able to continue all payments going forward in a timely fashion. Over the course of our communication which I also included the loan servicer XXXX and XXXX XXXX CEO of XXXX XXXX XXXX XXXX XXXX. I was told by both XXXX XXXX and XXXX XXXX that they would not give me a forbearance they would not put the three payments on the rear of the loan and they would not offer me any assistance of any kind. They had told me in a demanding and threatening manner that if I could not come up with all they money for the past due payments and in addition to those 4 past due payments they were asking for {$5200.00} which that was the first time I had ever heard of that amount which they said that I owed my prior mortgage company. Which was money that was owed to XXXX XXXX. In addition to that there was {$980.00} of unexplained attorneys fees which they could never explain when I requested both written and verbally an explanation of the charges. Therefore they wanted all of these amounts plus four missed payments for a total amount of over {$12000.00} even though I immediately had the ability to make three mortgage payments plus late fees.they would not work with me in any way wanted all of the money when Im already out of work in the middle of a pandemic. They told me that I live in too nice of a neighborhood that I needed to sell my house and take my equity and go rent a house before I lose all my equity and they offered to put me in contact with a realtor. They also stopped paying my property insurance and taxes. And have put my home in foreclosure with a court date of XX/XX/XXXX. When I inquired with XXXX XXXX and XXXX XXXX which my previous loan companies were always one of the two, they told me as a result of a private lender buying my mortgage that I lost out on getting the assistance the government was providing. XXXX search the heading Door is shut to millions of American homebuyers all of the people I have mentioned including the loan company are in the article. I have documentation of all the letters I have referenced above.
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| 06/19/2015 |
No |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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As of XXXX XXXX, 2015, the Mortgagor was allowed to continue loan modification. XXXX XXXX, 2015 XXXX XXXX XXXX ( XXXX ), requested additional information ( XXXX verification documents ). As of XXXX XXXX, 2015, Mortgagor was sent, by way of XXXX and Residential Credit Opportunities ' ( RCO ) Attorney, a Notice of Foreclosure Sale. By starting the modification with XXXX on XXXX XXXX and XXXX/RCO initialing foreclosure sale, this is clearly a violation of Consumer Financial Protection Bureau ( CFPB ) Rules adapted by U.S. Congress. The rule states that the server can not initiate a foreclosure sale within XXXX days of the foreclose sale date while negotiating a loan modification. This loan modification negotiation is within XXXX days of the scheduled foreclosure sale date violating the CFPB rule.
On XXXX XXXX, 2015 the Attorney for XXXX/RCO were notified by certified mail of the aboveviolations. Mortgagor follow through with the loan modification documents as requested by XXXX/RCO in which the documents were received by certified mail and signed foron XXXX XXXX, 2015 by company receptionist, XXXX XXXX. This was XXXX daysbefore the requested due date of XXXX XXXX. The Mortgagor contactedthe company on XXXX XXXX where the male representative said the only item he saw loaded in the system was the original XXXX page hardship letter sent with the package to Loss Mitigation in XXXX. He also stated that XXXX XXXX was the person processing the loan, was not available at the time and should have the documents on her desk. Friday, XXXX XXXX, the Mortgagor spoke with another representative who could not find the certified mailed documents that had been signed for. Finally, on XXXX XXXX the Mortgagor was able to speak with XXXX XXXX of XXXX who was to be processing the loan modification. XXXX XXXX, who was informed that the conversation was beingrecorded, said the documents had not be completely loaded into the system and was still to be completely reviewed. She also stated RCO has the final say as to what XXXX decides to do with the loans because they are a private company, and that a letter had just been mailed denying the Mortgagor 's request for a short sale and payment amount. The Mortgagor asked why did the previous letter from XXXX states that an " application in not required? ". XXXX confirmed there being no need to have an application for modification on file. As well, she stated the Mortgagor 's only other option would be to vacate the house if the modification was not approved.
On the next day, Tuesday, XXXX XXXX a XXXX package arrived at the residentscontaining XXXX letters. The first letter stated that, " You are not currently eligible for a loanmodification due to failure to provide loan documentation as requested. This is a final denial. '' The XXXX letter stated that " Based on the income documentation you provided, you are not currently eligible for a loan modification due to insufficient income. " Administrator XXXX XXXX of RCO, signed both letters and also stated the incomewas only {$760.00} a month and {$1100.00} was needed for PITI. But XXXX did not count for all of the monthly house whole income that was sent to his office certified. From all evidence, as XXXX stated in a previously recorded conversation that, " They were going to take the house '' which is a predatory attitude and a violation of laws and rules.
First, the XXXX pays stubs sent only accounted for XXXX weeks ' worth ofincome. The monthly school board pay is actually {$1500.00} per month. Secondly, XXXX did not count the rental incomes of {$900.00} per month, and business income of about {$700.00} a month. Finally, according to modification rule, a trial payment period is also provided after reviewing the income, before denial. XXXX did not try to qualify theMortgagor in good faith. A HUD Counselor had approved the loan mod. docs earlier
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| 10/29/2015 |
No |
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- Loan modification,collection,foreclosure
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Web |
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On XX/XX/XXXX I received correspondence via mail indicating that my loan was owned by Residential Credit Opportunities Trust ( RCO ) and serviced by XXXX XXXX XXXX. I contacted the XXXX at XXXX in order to follow up and inquire about what was going on with my loan and if the loan modification would be honored with the new servicers. Again with this servicer for days I did not get an answer, but did I contact FCI to get an update on my loan on XX/XX/XXXX. We spoke with XXXX XXXX in the Servicing Department he stated that it takes 30-60 days for the loan information to be transferred.
At this point I was very frustrated and did not know what to do so my family came together to hire an attorney to assist me with my fight. The Attorney sent a Letter of Representation and POA on my behalf so they could begin corresponding with the lender for me on XX/XX/XXXX, XX/XX/XXXX. A letter requesting mortgage assistance and request for information sent to XXXX to XX/XX/XXXX. My attorney called to follow up on XX/XX/XXXX at XXXX spoke with XXXX , ID # XXXX and XXXX ( NO ID ) in loss mitigation to confirm receipt of documents. My attorney contacted XXXX ext XXXX in customer service on XX/XX/XXXX at XXXX to request a mortgage assistance package. He advised they did not have anything to send me, but would fax over a list of documents needed to my attorney. They never received information. On XX/XX/XXXX at XXXX my attorney followed up with XXXX ext XXXX in customer service regarding the information and was told to follow up with the investor, RCO directly at XXXX to request a mortgage assistance package. On XX/XX/XXXX at XXXX, my attorney was advised by XXXX at XXXX that all communication going forward should be directed directly to XXXX XXXX. XXXX advised my attorney that XXXX would not even consider offering me a loan modification and they should give it up because it was not going to happen and that the property would be foreclosed on. According the XXXX the investor just wanted the property and there is nothing that I could do other than reinstate the loan.
On XX/XX/XXXX at XXXX, my attorney contacted XXXX XXXX ext XXXX at XXXX regarding a shortsale on my home. XXXX advised me to get an agent, list the home for $ XXXX, submit offers, HUD, BPO evaluation supporting the offered price. All instructions were followed as directed. My realtor received offers for $ XXXX and $ XXXX which both were well above fair market value and both were submitted to the lender. She stated the investor would postpone the sale if the offers were high enough. After submitting the offer, my attorney 's office contacted the lender to follow up on the offers submitted. XXXX advised that the investor stated they would not consider reviewing the offer because they did not want to be bothered. I followed all instructions given by XXXX and they still did not assist me.
Despite several pleas for mortgage assistance, the lender would not work with me. While fighting with XXXX and RCO for help from XX/XX/XXXX through XX/XX/XXXX I decided to give up fighting and try to short sale my home since XXXX and RCO will not work with me and force me into foreclosure. XXXX has violated the CFPD foreclosure avoidance procedure in several respects which include, but are not limited to Servicers being required to contact borrowers and services extending loss mitigation assistance to clients. Despite requesting options for assistance, none have been extended, offered, or communicated to me.
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| 04/17/2018 |
No |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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Residential Credit Opportunities Trust V ( RCO ) & CEO XXXX XXXX & XXXX XXXX are in violation of California Home Owner 's Bill of Rights ( CAHBOR ) and ethical violations regarding financial matters.
At issue is RCO 's refusal to comply with CAHBOR which requires them allow borrower to avoid foreclosure. RCO instead is bypassing all foreclosure avoidance programs and trying to force borrower into friendly foreclosure or deed in lieu. RCO must comply with state law and allow borrower to move forward with short sale. It is understood and accepted that there is too much arrears to be considered for modification however a short sale is NOT a foreclosure as deed in lieu is and allows the state given right to borrower to avoid foreclosure.
On XX/XX/18 borrower had a phone conversation with XXXX XXXX who very rudely and unethically informed borrower that he would not allow her to modify or short sale her home because he could just take the home and sell it himself. This is a violation of both the spirit and the letter of the law. Investors or servicers can not operate above the law. It is hereby demanded that RCO follow the law and requested the CFPB investigate fully the business practices of RCO as based on the phone conversation with both XXXX and RCO, RCO is out to act as a foreclosure mill and steal people 's homes. This unethical and unacceptable in California and must cease and desist immediately.
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| 12/05/2021 |
No |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I entered into a Covid forebearance plan with XXXX XXXX servicing in XXXX. The mortgage was then sold to XXXX XXXX XXXX and the forebearance plan continued until XXXX of XXXX when the plan reached the end of the allowed time. I reached out to XXXX to explore options for repayment of the forebearance and they informed me that the loan had been sold to Residential Credit Opportunities Trust VII-B at the end of XXXX and that I would have to contact them for options. This was the first time I had been made aware of the transfer of the mortgage to residential credit opportunities trust VII-b. I contacted them and asked what options were available to me for repayment of the forebearance and they told me that they were just the servicer of the loan and that they didnt have any options available to me. They said that they would foreword my request to the proper people and that they would be contacting me within 10 business days with my options for repayment. I was told that I would receive a phone call and an email with these options, I never received either. Ive tried to contact residential credit opportunities trust VII-b several times since then and they always put me through to the case manager where I always get their voicemail and they wont return any of my calls.
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| 03/09/2020 |
No |
- Debt collection
- I do not know
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- Written notification about debt
- Didn't receive notice of right to dispute
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Web |
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In late XX/XX/XXXX I received a letter from XXXX XXXX, CEO, of Residential Credit Opportunities Trust V-E titled " Notification of Assignment, Sale or Transfer of Your Mortgage Loan ''. The letter was dated XX/XX/XXXX.
I sent a notice of dispute and demand for validation to him at the address provided in late XX/XX/XXXX or early XX/XX/XXXX. In response, Mr. XXXX sent me the same document containing the same information.
Neither of the documents contained a notice of my right to dispute, at no time have I received proof of the alleged debt from Residential Credit Opportunities Trust V-E, and Residential Credit Opportunities Trust V-E claims it has the right to modify the terms of the alleged debt in a notice of sale sent to me by XXXX XXXX XXXX.
Residential Credit Opportunities Trust V-E has not replied to my second attempt to dispute and demand validation of the alleged debt and yet it continues to attempt to collect from me.
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| 10/26/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Phone |
Older American |
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| 02/07/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Phone |
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| 06/24/2019 |
No |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Referral |
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