Consumer complaint received 2020-12-04
Company: Cornerstone Home Lending Inc.
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage

Complaint:
In XXXX of 2020 I spoke with Cornerstone Home Lending, INC about my application to refinance my FHA loan with a loss mitigation program. I had financial issues along with the pandemic that made me fall behind on payments and wanted to discuss my options about how I can avoid foreclosure. That conversation in XX/XX/2020 was for the approval of my loan modification. Over the phone the agent for Cornerstone gave me several disclosures and advised me the call would be recorded in order for the approval to be finalized. Wonderful! this was exactly the turn out I was hoping for. On that date she scheduled 3 automatic payments for XXXX XXXX XXXX. These payments were a trial period which if completed successfully the loan would be reinstated and I would now resume payments in XXXX under the new terms. {$1400.00} a month for PITI. at a rate of 3.25 %. 

Fast forward to XXXX. the first payment was successfully withdrawn from my account, although they did take it out a few days later. Because they took the money a few days late I called Cornerstone to make sure no late payments would be given or that it would hurt my trial period. Keep in mind they have it set up for automatic withdrawals so it would not be my fault if they took the money out late. At this time I was notified that my loan modification was in fact not approved and that any money taken would be returned to me and that future payments will be terminated. This is when everything went south. They told me I had missing paper worked that needed to be signed, which was not what they said ON A RECORDED LINE back in XXXX when the terms had been accepted and payment arrangements had been made. I said " fine, send me the paperwork and I will sign it ''. A week goes by and no paperwork has been sent to me, yet I still receive monthly statements from them and letters thanking me for my automatic payment. I call again to speak with someone which at this point they advise me that it is too late to sign any paperwork and they modification would now have to be reapproved. I have asked to speak with a supervisor back in XXXX XXXX & XXXX and I get the exact same response that someone will contact me 24-48 hours. Not a single phone call from any supervisor. On the phone today I was told that my case is still open and that a supervisor has a large amount of calls and will still reach out to me. MY FIRST REQUEST WAS IN XXXX 2020. 

I have asked for the loan modification application again ( TWICE in one month and still no paperwork ). Her response was to call my local post office because the issue is with them, but conveniently I still receive statements from them along with letters thanking for my automatic payment. At this current moment they have only returned the funds from XXXX, but they have taken payment for XXXX and XXXX and still no loan modification papers. I am facing foreclosure and the clock is ticking for me. Their negligence and irresponsibility is going to cause me to lose my home in which I reside and work from. I believe that they understand the current housing market they can potentially make a profit when the home goes into foreclosure and which is why they have not sent any paperwork to fix the situation.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation