Complete Grievance:We fell about back at my home loan XX/XX/XXXX and you may called Quality on XX/XX/XXXX to go over exactly what my possibilities was to eradicate brand new default. For each XXXX ( worker id XXXX ), I am able to extend my forbearance otherwise make an application for losses mitigation and you will she would send documentation to my family. With the XX/XX/XXXX XXXX ( staff member id XXXX ) reported that my personal deferment contract try due right back by the XX/XX/XXXX that have a home loan fee due XX/XX/XXXX. We never ever gotten that it agreement nor did We get any mobile phone calls regarding the a possible deferment. To the XX/XX/XXXX, XXXX ( staff id XXXX ), reported that basically is incapable of generate a cost upcoming I might need certainly to submit an application for losses minimization. I advised XXXX our very own adversity could well be resolved therefore we you are going to restart payments XX/XX/XXXX however, XXXX asserted that was not a choice therefore i registered my documentation to your XX/XX/XXXX. Into the XX/XX/XXXX a letter is mailed stating my personal obtain recommendations try denied due to me personally perhaps not accepting the newest deferment option. My mortgage lender forced myself directly into a strategy that i could not comply with, forcing me to apply for an option just to be refused. You will find just observed the fresh education off my mortgage lender and you can commonly https://paydayloancolorado.net/cotopaxi/ now be left abandoned.
Problem Facts:
In order to have the deal completed i needed seriously to In the that point we were struggling to improve walk costs.
Since then the situation changed we should take Quality through to the deal. Since we could manage it Quality would like to manage a good ( DIL ). In reality all of the Quality has only started wanting creating an effective DIL for decades now. We were most astonished when Quality provided all of us the loan Modification. Happily surprised. Now that we could pay for they we think they do not want us to Modify the financing. We think the borrowed funds amendment offer by Quality is a fake provide they know we could perhaps not spend the money for repayments within go out so they provided they in order to you. Given that we could manage it they don’t give it so you’re able to us. We feel Caliber is actually about real estate industry maybe not the borrowed funds organization. They use the ( DIL ) to amass services then sell brand new on the sister team brand new XXXX XXXX XXXX at a discount then Trust resells it within a profit. We believe the latest Given produces entire so you’re able to Quality towards losings towards the mortgage and so are ripping of the income tax Payer into the a primary Group top. You ought to investigate it.
Issue Details:
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 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.