Consumer complaint received 2021-08-17
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I have been requesting a loan modification for my rental property located in XXXX, XXXX since XX/XX/XXXX from the Rushmore Loan Mgt Services LLC, XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX CA XXXX ( Rushmore ). The tenants were affected by the XXXX pandemic and were unable to pay the rent since early XXXX. They have since recovered, started working again and have made a rental payment on XX/XX/XXXX and have assured me that they will continue making timely payments. I have placed this money and any future rental payments received in an escrow account to be used to satisfy any future loan modification agreement. 
My decision to seek help from ( Rushmore ) was based on their information provided on their web-site to seek assistance from their company in times of the Covid-19 pandemic. I followed all their guidelines in submitting a Borrower 's Assistance Application to include a hardship letter, financial information, tax return, current bank statements, etc. I provided any additional information they requested during the last four ( 4 ) months on a timely basis. I have had more than 50 contacts with ( Rushmore ) via phone, fax, letter and email requesting status or providing additional information in regard to my request for a loan modification. It seems that once I provided their requested information, they would ask for another document. They made some requests for duplication information that was already sent. Not discouraged, I sent them everything they requested in a timely manner, even the duplicate information. 
In the latter of XX/XX/XXXX, ( Rushmore ) advised me that the XX/XX/XXXX submission of my Borrower 's Assistance Application was out of date and that they would require an updated application. 
On XX/XX/XXXX, I contacted the Pa. XXXX XXXX XXXX XXXX XXXX and in conjunction with Ms. XXXX XXXX - XXXX who is the Executive Director, we submitted an updated Borrower 's Assistance Application to ( Rushmore and their attorney, XXXX XXXX XXXX XXXX XXXX, XXXX ( XXXX ). All my financials were reviewed by Ms. XXXX and she determined that based on my income, I was able to make the rental payment for this property. ( XXXX ) knew that I was seeking a Loan Modification but is still pursuing foreclosure proceedings. I believe this action is premature and I have advised the Pa. XXXX  County Court of this action. 
Once again, ( Rushmore ) asked for additional information on many occasions as late as XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which I submitted in a timely manner. It appears, in my opinion, that there is a pattern developing that would lead me to believe the ( Rushmore ) is taking any means to deny my request for a Loan Modification.

It also appears that ( Rushmore ) is attempting to foreclose on my property without any due consideration of my Loan Modification request. They have hired a lawyer ( XXXXXXXX ) who filed foreclosure briefs to the XXXX County Pa. Court. I have contested their legal briefs to the Court on XX/XX/XXXX and XX/XX/XXXX and provided my objections which have been accepted by the Court. I requested that any foreclosure action be withheld until my Loan M

odification is approved by ( Rushmore ).

( Rushmore ) per phone conversation of XX/XX/XXXX and XX/XX/XXXX advised me that since the case was in litigation, I should speak to their attorney ( XXXX ), which I have and submitted additional information on XX/XX/XXXX. 
( XXXX ) notified my in XX/XX/XXXX of their intentions to foreclose on this property and notified the Pa. XXXX County Court on XX/XX/XXXX of their intentions. 
Over a period of close to four ( 4 ) months. I have been attempting to get a loan modification from ( Rushmore ) They seemed to have strung me along after all the documents they requested were submitted. I do not believe that a banking practice should work this way. 
I AM REQUESTING THE CONSUMER FINANCIAL PROTECTION BUREAU ( CFPB ) INVESTIGATE THIS MATTER. 
There has been no foreclosure hearing set and I was given verbal assurance by the Pa. XXXX County Prothonotary Office that no foreclosure hearings are being held within the next several months. This should give ( Rushmore ) plenty of time to review my Loan Borrower 's Application and to provide me a reasonable Loan Modification.

It is quickly approaching the 60 day time limit for expiration of my Loan Borrower 's Application submitted onXX/XX/XXXXXX/XX/XXXX and I would hope that ( Rushmore ) does not once again let my application expire. This would create another pattern of denial/stall tactics by ( Rushmore ).

As evidence that I have the financial ability to meet a new modified monthly mortgage payment for this property, I have a rental property located in XXXX XXXX, AZ that I have rented to my son for the last 15 years. He too was seriously affected by Covid-19 and lost his job in the XXXX XXXX XXXX and did not make a mortgage payment since early XXXX. I initiated a Loan Modification a couple of months ago with the XXXX XXXX Mortgage ( XXXX ) and was granted a trial modification on XX/XX/XXXX. My son has since recovered from Covid-19, obtained a new job, and will be able to meet the requirements of the Loan Modification. I submitted the same financial information that Ms XXXX from the Credit Counseling Center used to determine that I was capable of making the monthly payments on the XXXX  property. It took less than two months to approve this Loan Modification. 
I want to maintain ownership of this property and have spent a lot of time and acted in good faith in my attempt to obtain a Loan Modification from ( Rushmore ).

I request that ( Rushmore ) provide me a Loan Modification as soon as possible and before XXXX XX/XX/XXXX. 
I am a XXXX year old bi-racial male, senior citizen, and XXXX veteran and have experienced many forms of discrimination during my lifetime. I would hope that this experience is not leading in this direction. 
I am respectfully requesting that the CFPB investigate this matter and am requesting a quick response. 
Thank you, XXXX XXXX XXXX

Company response to consumer: Closed with explanation