Consumer complaint received 2021-08-31
Company: LAKEVIEW LOAN SERVICING, LLC
State: IN
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
My name is XXXX. I have a USDA Rural Single Family Housing loan that is managed by XXXX XXXX and serviced through Lakeview loan Servicing , LLC. I am filing a complaint against Lakeview Servicing, LLC by XXXX XXXX, as Agent under XXXX XXXX XXXX ( Loan # ).

I was impacted by Covid -19 and was approved for the Forbearance. Upon the completion XXXX XX/XX/XXXX XXXX of my Forbearance period, I was contacted by a XXXX XXXX representative in late XX/XX/XXXX, advising of my options to bring my account current. I advised the representative that Yes, I live in my house at said address and I plan on keeping it. They advised me of all the options that are available on the USDA Implements Immediate Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19, listed under section : Post Forbearance Options ( See attached ). I told the rep that I can afford my regular payments of {$1200.00}, and that I would like to add the missed payments onto the back of my loan. 
She provided details about a loan modification, that would be like Refinancing my home, without providing all the documents. Their Loss Mitigation team would pull my title and provide me with the new loan agreement within 30 days. Also, that this could lower my payments and extend my loan out up to 30 years. I asked her what the fees are, late fees, interest rate, and my principal balance that would be rolled into this. She advised that my principle is {$180000.00}, she didnt see any late fees or fees that would be added, and that current modification rates are at 3.125 %, and I would only have to pay for the advance in escrow ( {$2400.00} ) and homeowners insurance ( {$1300.00} ). I then asked her, if I disagreed with the loan modification package can I go with my original option of adding my missed payments to the end of my current loan. She answered, yes. You will still have your other options. So, I agreed for her to send my account to have the loan modification review. 
The loan modification came later then the 30-day window, XX/XX/XXXX. To my Horror, they are wanting me to sign that my loan amount would be {$190000.00} for 30 years ( XXXX ), payment will be {$1100.00}, 1st payment due on XX/XX/XXXX. This is more then what I brought that house for in XX/XX/XXXX. The {$190000.00} total includes {$11000.00} that consists of interest, costs and expenses that were added to my principal balance of {$180000.00}. This is crazy!!! No way am I signing this modification. The cover letter states that if this information matches the conversation that was had with the XXXX XXXX rep to sign and return documents within 7 days. This document DOES MATCH what was discussed! I called XXXX XXXX Loss Mitigation and advised that I will not be signing this and that I want to add my missed payments to the back of my loan, and I will send in my payment {$1200.00} on XX/XX/XXXX. This is the new payment calculation provided by Lake View for Annual Escrow Account discloser statement ( documents included ). The loss mitigation rep told me that I have no other option other then to pay {$14000.00} to bring the account current TODAY. I do not have the option to add my missed payments to the end of my loan. I advised her that per the USDA Implements Immediate Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19, listed under section : Post Forbearance Options ( See attached ) that since I live in the home and I can afford the payments that they are to offer me the following : Upon completion of the forbearance, the lender shall work with the borrower to determine if they can resume making regular payments and, if so, either offer an affordable repayment plan or term extension to defer any missed payments to the end of the loan. If the borrower is unable to resume making regular payments, the lender should evaluate the borrower for special relief XXXX measures which includes Term Extensions, Capitalization and Term Extensions, and a Mortgage Recovery Advance. I can afford my payments and willing and able to make the first payment on XX/XX/XXXX in the amount of {$1200.00}. She told me NO! That I Only the modification is available. I told her This is not right!! I want a break down of all the fee included in the {$11.00}, XXXX and it better not include Interest!! Per the USDA Implements Immediate Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19, During the forbearance options outlined above, no accrual of fees, penalties or interest may be charged to the borrower beyond the amounts calculated as if the borrower had made all contractual payments in a timely fashion She told me that this does not apply to me and I have to pay it!! How does 2 years worth of payments, amount to nothing! And you want to charge me Interest that the USDA advises that you are not to do! She said, that they do not have to follow that regardless that my loan in USDA Rural Housing loan. 
I know that XXXX XXXX is in the wrong. I want to keep my home and I can afford my payments of {$1200.00}. Adding my missed payments ( 12 months worth XXXX to the end of my loan will extend my loan completion from XX/XX/XXXX to XX/XX/XXXX. I refuse to sign a loan modification that adds fees and interests that not only does the USDA Rural Housing states that are not to be added, but that is also makes my home purchase price higher than what I purchased it for in XX/XX/XXXX. They are now trying force me to sign this Loan modification documents against my well and possibly foreclose on my home. Please help!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation