Consumer complaint received 2016-09-10
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: WA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I am continually having issues with my loan servicer, Rushmore Loan Mgmt Svs, but this issue is especially hard to swallow because it could have been prevented by them. They refuse to accept they made a mistake. I recd. a XXXX loan in XXXX of XXXX to pay the arrears balance and bring me current. When in the Mediation mtg., it was brought to Rushmore 's attention that I would most likely be approved for this loan and once I was notified, I would need an accurate figure to bring my acct. current. Once I was approved, XXXX notified Rushmore and Rushmore then quoted them the figure of just over {$27000.00}. The money was received as promised and to me like a XXXX mortgage. Not payable for 30 years or if I sold my home and " 0 % '' interest. The money arrived and credited to my acct. XX/XX/XXXX. My first payment being current was due XXXX XXXX, XXXX and every month thereafter. Not 2 weeks later I recd. a letter in the mail from Rushmore saying my escrow acct. was approx. {$2000.00} short and that my monthly mortgage payment would increase on XXXX XXXX, XXXX by approx. {$150.00} a month for a year or something. I have the exact figures but to tell you the truth, I was so angry that I pretty much just stopped breathing. I do n't remember much else that day. If I had a shortage in my escrow, why was n't that shortage or projected shortage included in the reinstatement figure they quoted XXXX. I had up to {$30000.00} I qualified for but I used the figure Rushmore quoted them and got the loan for just over {$27000.00}. They claim they do n't do escrow analysis 's on delinquent loans so as soon as I got current, they did the analysis and determined that would be the shortage. I know for a fact that my insurance and property taxes did not go up more than {$30.00} for the next year so where they came up with that {$2000.00} figure is beyond me and regardless, any shortage could and should have been included in the reinstatement figure, If I make a mortgage payment that includes escrow, they should have included that into their calculations. They refused to do another analysis after leading me on for 3 months and when XX/XX/XXXX came, I could not make the new mortgage payment with the increase. I pretty much lost it. I got a forensic review of my loan and found out its been securitized and I 've tried to talk to them about this but they refuse to do anything about it and continue to claim I 'm delinquent and wont reverse the additional monies they want each month. I ca n't even get into my acct. on line because they lock out all delinquent accts. I recently receive3d a letter of default at my house so now I 'm facing foreclosure and if I 'm forced out, that XXXX loan will become due and I have no way to pay that {$27000.00} off now. It 's just wrong that they can do this to people. I 'm sick of it and it needs to stop. How many complaints do you need to get on a company before they are shut down. I want to stay in my home and I want them to make this right.

Company response to consumer: Closed with explanation