Consumer complaint received 2021-09-23
Company: Asset Management Holdings, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
My second mortgage account was transferred to Asset Management Holdings LLC in about XXXX of 2020. When they took over the second mortgage I never receive any information account number/mailing address for payment or contact information. It was until XXXX of 2020 that I receive a letter with Notice of Breach and Demand for Payment and Notice of Default and Demand to Cure. The Notice of Breach and Demand for Payment shows a balance of {$96000.00} and the Notice of Default and Right to Cure show a required amount to cure the default of {$130000.00} with the last date to cure my default of XX/XX/2020. By the time I receive the first correspondence in XX/XX/2020 they had already added about {$43000.00} to my account. I immediately contacted them on the phone number that was listed on the correspondence that was sent to me in XX/XX/2020. I spoke to the account manager that was assigned to my file and explain to her that I was trying to refinance the loan with the previous finance company to get a more affordable payment. She said that they would also see what options would be available for me to refinance with Asset Management Holdings LLC to get a more affordable payment. They sent me the Loss Mitigation Application which I fill out and sent back to the account manager assigned to my file, I also told them that this is my primary residence where I live with my children and where I have been raising them has a single parent to please help out making the payment more affordable. After waiting for over a month I reach out to the account manager to get an update on the application I had summited, a few days after she called me and said that she had good news that they had approved the application for modification and that my new payment was going to be {$400.00} a month. The account manager said that she was going to let her manager know to send me the papers for me to sign with the new payment of {$400.00}. Since a few months went by and I had not received the documents to sign, I started calling the account manager to get an update. When she got back to she said that when she asked her manager to send me the documents to sign her manager saw the equity I had on my home and that they would only do the payment of {$370.00} a month for 6 months and for me to get a loan with another company that they wanted to get paid the total amount. I told her that I was in no position to refinance with another company because of everything that was going. She email saying that her hands were tied and that she could not do anything that investors want the full amount. Since then I have waited but have not received or heard from anyone from Asset Management Holdings LLC or receive any correspondence ( mortgage statements ). At the beginning of XXXX of the present year, I started to receive phone calls and advertising mail from different companies saying that a Notice of Default was recorded with the county. I called Asset Management Holdings LLC many times but was not able to speak to anyone at the office so I left messages. My messages were not returned so I email the account manager assigned to my file. She responded that my file was transferred to another account manager and ask me what was the payment that I was able to afford, I replied back to her email but she has not replied I have also called the office again but no one is answering calls. Up to this point, Asset Management Holdings LLC has not sent me any mortgage statements or anything that had to do with my account but did go ahead and recorded a Notice of Default and have added more fees to the original loan amount.

Company response to consumer: Closed with explanation