Full Problem:I dropped at the rear of on my home loan XX/XX/XXXX and called Quality into XX/XX/XXXX to talk about exactly what my choices was to eliminate new default. Each XXXX ( personnel id XXXX ), I’m able to increase my forbearance otherwise sign up for losings mitigation and you will she’d post paperwork on my family. Into XX/XX/XXXX XXXX ( worker id XXXX ) reported that my personal deferment contract is due right back by the XX/XX/XXXX with home financing commission due XX/XX/XXXX. We never received this agreement nor performed I get any cellular phone phone calls from the a prospective deferment. Towards XX/XX/XXXX, XXXX ( employee id XXXX ), reported that basically is actually not able to build a payment up coming I would personally need sign up for loss minimization. I told XXXX the adversity could be resolved therefore we you certainly will restart repayments XX/XX/XXXX but XXXX asserted that was not a choice so i filed my personal paperwork on the XX/XX/XXXX. For the XX/XX/XXXX a page is actually mailed stating my request guidance are rejected due to me perhaps not accepting the latest deferment option. My personal mortgage lender pressed me personally directly into a strategy that we cannot conform to, pressuring us to sign up for a choice just to become denied. I’ve merely observed the brand new training from my personal mortgage company and you will usually now be left abandoned.
Problem Facts:
For having the deal completed i needed to In the the period we were unable to improve path payments.
Subsequently all of our problem has evolved we would like to just take Caliber through to the offer. Since we are able to afford they Caliber desires do an excellent ( DIL ). In reality all of the Caliber only has been interested in carrying out a great DIL for years now. We had been really astonished when Caliber offered you the loan Amendment. Happily surprised. Given that we are able to pay for they we feel they don’t really require us to Modify the loan. We believe the borrowed funds modification give because of the Quality is actually an artificial bring they realized we are able to perhaps not pay the money from the big date so they given they so you’re able to you. Given that we are able to pay for it they don’t have in order to united states. We think Caliber is really about real estate industry perhaps not the borrowed funds providers. They use the latest ( DIL ) to amass functions up coming sell the fresh new on their sister company the new XXXX XXXX XXXX at a discount then Faith resells they during the an income. We believe new Given produces entire so you’re able to Quality to the losses to the financing and so are tearing of one’s tax Payer into a primary Group top. You ought to take a look at it.
Criticism Info:
Full Complaint:On XX/XX/XXXX, I contacted Caliber Home Loans to inquire a refinance letter received in the email. I spoke with XXXX XXXX from Caliber Home Loans who gave me more details regarding the refinance letter I had received in the mail. He reviewed my existing mortgage and recommended doing a refinance to a 10 year mortgage since the payment would only be <.00>more and we would save $ XXXX in interest compared to a 15 year mortgage. I mentioned that we had a home equity line of credit on the property as well as the mortgage from Caliber Home Loans. We discussed the amount the home equity line of credit was and the current balance of both loans. He said the home equity line of credit wouldn’t be an issue since the mortgage and balance of home http://www.paydayloancalifornia.net/hydesville/ equity line of credit was less than my current mortgage loan was originated for. He told me that I had to pay <.00>for a credit check to move forward so I did. I submitted all required documents that day. He explained that the closing was going to take several months due to the low interest rates and all the refinances going on so don’t expect any communication for a month or two. On XX/XX/XXXX, I received a letter from Caliber Home Loans saying the loan application was ” Withdrawn by Applicant ”. I immediately reached out to XXXX XXXX trying to understand why the letter stated that I request to cancel the loan. He responded by saying ” Looking at the notes it looks like there was a second mortgage/lien found on the property. We can not subordinate it. “. I asked him for more details about the second mortgage since I am not aware of one and he stated that the HELOC is considered a second mortgage. I tried to contact Caliber Home Loans Advocacy Department however it plays a message saying to call during normal business ( which I was ) and then hung up. I called Caliber Home Loan ‘s customer service normal and was informed by a agent that that Advocacy Department phone system was down and to try later. I requested an executive path and was told that the best I could get was a call back when the system is back up or to call back after the system was back up.