Consumer complaint received 2023-09-18
Company: NEW YORK COMMUNITY BANCORP INC
State: FL
Product: Mortgage
Sub-product: VA mortgage
Issue: Struggling to pay mortgage
Sub-issue: Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure

Complaint:
Our mortgage company was XXXX XXXX, they were very helpful with us when they heard about our hardships caused by the pandemic. we lost my father and our oldest daughter to Covid-19 complications. We also had a cellular and satellite business that was just taking off and operated by my family, it was very profitable. We were informed that if we continued doing business with the public we would face many problems. So, we closed, we continued paying our business bills and after 11 months we had to cancel our lease and close the business. In XX/XX/XXXX we spoke with XXXX XXXX about the loss of of family, and explained that the government wouldn't allow us to operate our Cellular & Satellite Business XXXX put in touch with XXXX XXXX ( XXXX Forbearance Manager ). He was very helpful, he told us about a program that the President & Congress implemented for people going through what's happened and happening to us due to XXXX. He told us to go into the program next month ( XXXX XXXX ). He said the time frame would be 3 month increments and he'll add whatever is needed to get us back on our feet. He said if we wanted to make reduced payments or no payments, it would be our choice. He said the payments missed would be added on to the end of the loan and there would be no negative actions taken by the bank. He told us there was only one thing we must do, we had to contact him every 3 months. XXXX sent us e-mails to comfort us stating we were approved for 3 more months. In XX/XX/XXXX XXXX contacted us and said this would be the final 3 months he could approve for us XXXX, XXXX, & XXXX. He said we would start on XX/XX/XXXX making our regular monthly payments every month. So, we followed his instructions and made our first payment with our Bank where we do our checking XXXX XXXX XXXX XXXX. Our Payment was returned and I called XXXX, XXXX wasn't there, and another banker told me that our loan was bought by a bank that shopped for loans in Forbearance that had 50 % on more equity in the property. I contacted the bank that bought our property, the bank is Flagstar. I told them how well XXXX  and XXXX took care of us and what we needed to do. The Flagstar Rep. said Flagstar did not approve us for Forbearance and what XXXX and XXXX told us does not apply. He told me I needed to make a lump sum payment of around {$32000.00} and wanted to find out when I could make it. I explained we had just gotten back on our feet and all I could make is our regular monthly payments. We sent a payment in XXXX, XXXX & XXXX through XXXX XXXX XXXX XXXX and they were all rejected. I continued to work with Flagstar Bank trying to do a modification and I have a deadline of XX/XX/XXXX to submit our 8th modification package. Flagstar rejects the previous 7 packages, stating you didn't circle your income on your bank statements, or you didn't write a letter stating you don't have an HOA even though you checked no to HOA. In the application, it doesn't tell you to circle income or write letters for items marked NO. I believe Flagstar bought our loan in hopes that we'll give up and allow them to foreclose on it. I don't believe our President & Congress developed this plan to allow banks to destroy families and take our homes. I'm a XXXX XXXXXXXX XXXX my wife was a XXXX till doctors found XXXX and we just adopted our XXXX XXXX who lost her mom, she going through some tough times but loves her new room and new school. My youngest daughter moved in to help take care of her mom and niece. Please help us convince Flagstar Bank to complete the modification and not make my family homeless. Thank you so much!

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