Product: Mortgage

I am writing you today in hopes that you can help with an issue that has been in limbo for the past several months. I had a HELOC with XXXX that I took out on XX/XX/XXXX of XXXX for $ XXXX with a maturity date of XX/XX/XXXX of XXXX ( EX1 of attached ). I tried working with XXXX to refi into a new HELOC and they would not approve me. When I asked what happens next, they said they would " write it off ''. According to my credit report, they charged it off XX/XX/XXXX. 

Fast forward to XX/XX/XXXX when XXXX sold the mortgage to XXXX XXXX XXXX. XXXX XXXX XXXX  then sold the mortgage to XXXX XXXX XXXX on XX/XX/XXXX. XXXX XXXX then sold the mortgage to XXXX XXXX XXXX on XX/XX/XXXX. XXXX XXXX XXXX then sold the mortgage to Wilmington Savings Fund Society , FSB on XX/XX/XXXX. 

In XXXX of XXXX, I began receiving monthly invoices from XXXX XXXX XXXX {$130.00} due. I am told XXXX XXXX XXXX services loans for XXXX XXXX XXXX which is owned by Wilmington Savings Fund Society , FSB. Very confusing. This came five years after the note matured with no explanation on where that money was going to or how the payment was being broken out. No terms, no APR. Other than that, I did not hear anything until XX/XX/XXXX when I was served with foreclosure paperwork with a court date of XX/XX/XXXX. Not once did anyone from XXXX, XXXX XXXX or Wilmington reach out via phone to follow up on monthly missed payments or to discuss the matured loan. No letters were sent to contact the servicer with a personnel assigned to discuss loss mitigation options or information on how to find a housing counselor. Continued mortgage statements ( most recent Ex 3 ) after the foreclosure date does not include any risks or any help to file for foreclosure avoidance assistance. 

It wasn't until XX/XX/XXXX when I reached out to XXXX XXXX XXXX that I received an email from XXXX XXXX who stated he was an attorney and works for XXXX and would be my contact and possible options. During subsequent phone calls, he recommended applying for loss mitigation. After submitting the required documents, it was determined that my income was low enough where he said on numerous recorded calls that I was a great candidate for loss mitigation. 

On XX/XX/XXXX I received an email stating my loss mitigation was denied and they provided some documents ( Ex 4, Ex 5 and Ex 6 ). Ex 4 is the denial an was addressed to " Mr. and Mrs. XXXX ''. It said I was denied due to the " Lack of affordability '' because my ratios were a XXXX Lack of affordability sounds like I can't afford it but they must think that XX/XX/XXXX is a good ratio. Which is why on Ex 5, they provided a Good Faith Offer of a modification. 

The Good Faith Offer ( Ex 5 ) ( addressed to Mr XXXX XXXX? ) offered a discount payoff of $ XXXX ( which they know I can't pay as I have provided all of my income and asset information ) or a modification agreement. The modification worksheet ( Ex 6 ) is asking for $ XXXX up front plus three trial payments before the modification kicks in. The loan they offered is a 5yr balloon amortized over 15 years at 9.75 %. No APR was given, however Ex 7 will show the APR and terms of the loan offered. If I agreed to those terms, I would have paid $ XXXX + {$870.00} trial payments + {$17000.00} for a total of {$33000.00} over the course of the next 5 years. The kicker is that on XX/XX/XXXX, the balance of the Note is due and they will be asking for {$22000.00} that is still owed. This means that if I had the cash to pay the balance off on XX/XX/XXXX, I will have paid a total of just about {$55000.00} on what was originally a $ XXXX note. 

The loss mitigation denial ( Ex 4 ) noted that I could appeal the denial. I reached out to XXXX, who said over a recorded line, that normally his company would be able to take 30 % of the amount owed but since I had equity, they wanted the full amount. I don't know why someone from the company would say something like that but to me, it was them saying we have no issue settling for less but we want it all. I brought up the concerns of the Good Faith not having a APR and that the loan terms seemed to be predatory but was told that 9.75 is the APR ( it isn't because it doesn't factor in the balloon payment Ex 7 ) and that since they are a private lender, they don't have to follow the normal rules. While XXXX might be a private lender, they are owned by Wilmington Savings, FSB which is a bank. I was told that the modification was being passed to an non-interested 3rd party who works for the company. Not sure how someone who works for the company could be considered non-interested.

The most recent mortgage statement ( Ex 3 ) shows a balance of {$43000.00} ( XXXX 's balance as of XX/XX/XXXX was {$29000.00} ) and this amount keeps going up. They are charging monthly interest. They have tacked on thousands in attorney fees. They are trying to charge {$4.00} per diem going all the way back to XX/XX/XXXX when XXXX still owned the note. 

My options are to pay an attorney to try and fight this which is {$3500.00} just to start, file for bankruptcy or let them take my home. It is bad enough that XXXX charged this off, took their write off and moved on but now I have a company that likely paid pennies for this loan trying to take my home over a heavily inflated balance. They broke the rules in filing for a foreclosure without anyone from the servicer reaching out by phone or mail. They didn't offer loss mitigation until I asked about it at the end of XXXX. They denied my request for mitigation because my ratios were high but had no issue requiring an additional {$290.00} a month which they know I can not afford.