Consumer complaint received 2024-01-16
Company: AMERISAVE MORTGAGE CORPORATION
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage
Sub-issue: An existing modification, forbearance plan, short sale, or other loss mitigation relief

Complaint:
On XX/XX/XXXX, I applied for a mortgage forbearance due to a family illness causing financial hardship. I promptly contacted Amerisave before the next payment was due to explore assistance options. I submitted the necessary documents on XX/XX/XXXX and provided additional paperwork on XX/XX/XXXX. At that time, I was assured by XXXX employees that no late charges would accrue during the pending forbearance, and it would take XXXX  days for a decision. However, Amerisave took more than XXXX  days to make a determination, and late fees were still assessed, despite the prior assurances. On XX/XX/XXXX, I received information about the forbearance, and I promptly sent the required amount via a XXXX-signed money order on XX/XX/XXXX. Amerisave received the payment on XX/XX/XXXX, signed by XXXX. When I requested written confirmation that I met their terms, Amerisave declined to provide it and denied my request to speak to a manager. I am concerned because previous complaints against this mortgage company have revealed a pattern of not honoring verbal agreements and even leading to home foreclosures due to mishandled forbearance requests. Additionally, consumers have reported issues with late fees and negative credit reports due to inaccurate information provided by the mortgage company. 


On XX/XX/XXXX, I spoke with XXXX and she inquired about my situation and asked which option would I like to take care of the XXXX months. I opt 'd for the XXXX  months to be placed at the end of the loan. XXXX stated she would send me the documentation and I needed to provide it within XXXX days. It has been XXXX weeks and I have not received any documentation. On XX/XX/XXXX - I contacted my lenders loss mitigation department and spoke to XXXX. She informed me that I would not be receiving such documentation until after the forbearance expired. I explained to her per section XXXX of the agreement that would make me ineligible for any loss mitigation options if the agreement expires. Additionally - that would cause a negative reporting on my credit afterwards. The representative stated that is their process and when I advised that would mean they are breaching their own contract and jeopardized my credit. She stated I can attempt to request for it to corrected after the fact. I asked for a supervisor and she told me one was not available and to email them. 

I am concerned because the lender has numerous negative reviews on deceptive practices. I have adhered to and complied with the terms of the forbearance and the lender should as well. That includes them providing me with the required paperwork and processing it in a timely manner. Not waiting until after my agreement expires to then demand total balance due and effecting my credit report.

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with explanation