Consumer complaint received 2023-11-12
Company: Selene Holdings LLC
State: NY
Product: Mortgage
Sub-product: Conventional home 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:
XX/XX/2023 XXXX XXXX Selene Finance LP XXXX XXXX XXXX XXXX, PA XXXX Subject : Response to Loan Modification Request and Account Concerns Dear Sir and/or Madam, I hope this letter finds you well. I am writing to address the issues pertaining to my loan modification request and my concerns about the handling of my account with Selene Finance LP. My account details are as follows : XXXX Account Number : XXXX First and foremost, I would like to provide some relevant facts and context surrounding the initial loan modification process and subsequent events. The loan on my property, which I have owned for the last 23 years, was originally serviced by XXXX XXXX XXXX. During the COVID-19 pandemic, I initiated the process of obtaining a loan modification with the original servicer due to financial hardships, specifically related to my son 's XXXX treatment and the loss of consulting agreements. 
The loan modification process was underway with XXXX XXXX XXXXXXXX when my file was transferred to Selene Finance. I received a modification offer from Selene Finance with only one week 's notice to accept, significantly increasing my monthly payment from {$5200.00} to {$9300.00}. This substantial increase in my monthly obligation, coupled with my family 's ongoing medical and financial challenges, created a severe burden that I struggled to manage. 
I sought a loan modification with Selene Finance to adjust the terms of the loan, primarily because my home has significant equity, far exceeding the loan balance of {$320000.00}. It was my understanding that Selene Finance agreed to this modification. However, I became increasingly concerned about the intentions behind the modification process. I was told by their Supervisor on XX/XX/2023 when I made the payment that Selene Finance had no intention in doing this modification and not sure why they wasted my time resources ( which was recorded ) I experienced significant delays in the modification process that seemed intentional, spanning over six months. Despite my diligent efforts to communicate with Selene Finance representatives, including making over 45 recorded calls and sending certified mail and faxes, the process remained protracted. During each interaction, Selene Finance representatives assured me that my file was complete. 
As I fell behind by XXXX months on my payments, I contacted Selene Finance to discuss making partial payments to catch up. Regrettably, my initial requests were denied. However, after raising my concerns with your department, Selene Finance accepted a payment from me on XX/XX/XXXX, XXXX, amounting to {$9200.00}. This raised questions about the nature of the modification process and Selene Finance 's practices. 
I had also requested a payment plan to gradually catch up on my arrears while maintaining current payments. Unfortunately, this request was denied, and the only option presented to me was to voluntarily sell the house. It is crucial to emphasize that this property is my primary home, and it holds even greater significance due to my children 's illnesses. 
In my recent communications with Selene Finance, I have noted that my current gross income is incorrectly recorded as {$12000.00}, whereas my actual gross income is {$15000.00}. This discrepancy highlights the need for a more accurate assessment of my financial situation. 
Given the aforementioned circumstances, I respectfully request that Selene Finance provides me with at least 60 days from the date of this letter to catch up on the arrears and explore the possibility of another loan modification. My income has significantly changed in the past month, and I believe that a revised modification could be a reasonable solution to address the current financial hardship. 
I sincerely hope for a constructive resolution to this matter that considers my family 's challenges and my desire to maintain our family home. I kindly request that Selene Finance reviews this situation promptly and provides a fair and equitable solution. 
Furthermore, I am seeking assistance from the Consumer Financial Protection Bureau ( CFPB ) to help address and resolve these concerns. 
Thank you for your immediate attention to this matter. I look forward to a timely response and a productive dialogue to resolve the issues at hand. 
Sincerely, XXXX

Company response to consumer: Closed with explanation