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File a Mortgage Complaint – Consumer Financial Protection Bureau

Here are some of the most common complaints about mortgage servicers we hear from homeowners:

Eligible homeowners denied for Hamp modifications because of sloppy handling of documents by the servicer.

Servicers pushing homeowners into less than affordable “in house” modifications when they clearly qualify for the more affordable government Hamp program.

Foreclosing while in review for a modification.

Misapplying trial modification payments or processing incorrectly so the homeowner is disqualified for a Hamp modification.

Misapplying mortgage payments so the homeowner is deemed in default.

Processing escrow accounts incorrectly.

Declaring homes vacant (when they are in fact occupied by the homeowner) which disqualifies them for HAMP.

Granting 3 month trial modification, but the bank insists that the homeowner continue to make the trial payments for months or years, leading them to believe they will receive permanent loan modification documents in the mail, but they never arrive.

Servicers abrubtly refuse payments or send payments back to the homeowner when they have been participating in an extended trial modification plan, then informing them they are denied for modification.

Requesting loan modification and financial documents repeatedly and telling the homeowner they were never received.

Improperly calculating the homeowner’s income to disqualify them for a loan modification.

Discriminating against minorities and single women.

The Consumer Financial Protection Bureau  is taking mortgage complaints.  If you are having issues with your mortgage servicer we encourage you to file a complaint at www.consumerfinance.gov.   It is our hope that the CFPB will see the patterns of abuse as more complaints are submitted by homeowners.

  1. April 6, 2012 at 1:00 pm

    You wrote…”Foreclosing while in review for a modification.” This is called Parallel Foreclosure. Parallel Foreclosure is being falsely called legal by the banking system. Until someone challenges parallel foreclosure in court and wins, this practice will probably continue.

    The further irony is that the our own president and his staff believe that Parallel foreclosure is legal, and they may be committing a federal hobbs act violation, extortion, the taking of property under the color of right.

    It may take overturning parallel foreclosure and then impeaching Mr. Obama and members of his staff to actually fix the housing crisis. The comedy in that is the republicans love bankers more than the democrats do, so we truly are screwed for the moment, until someone challenges parallel foreclosure in court and wins.

    • Deborah
      July 5, 2012 at 11:26 pm

      After reading the above blog I have been a victim of all the practices listed. My morgage is held by Wells Fargo under America’s Servicing Company. I was told that my mortgage was held by a private investor at 9% with a mortgage of 1539.00. During a meeting with Wells Fargo at a NACA save your home event they told me to get a better job. I have fought for years with these people and they are relentless.

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