Consumer complaint received 2022-03-03
Company: Rocket Mortgage, LLC
State: HI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
We were sold on forbearance as a government backed form of help to pause payments on our mortgage. We understood this as an option to pause our loan and help us get through a tough time. We understood that we would not have additional principal added to our loan nor be charged any interest or fees. We had the terms of the agreement changed when we came out of forbearance. We were asked to pay a lump sum in order to avoid defaulting on our loan. We were forced to modify our loan which added nearly $ 30k in principal and 12 years to the term. This action added fees and interest to a forbearance program that was supposed to help us. We have been told that we can not see a line by line explanation for the additional principal added to the loan. We have been put into looping conversations with Rocket Mortgage that get us nowhere and we are unable to get any transparency. We feel that we are being taken advantage of by Rocket mortgage knowing that they will make additional profit in the form of interest on the additional principal they added.as well as forcing our loan into another 12 years of payments. The CARES Act was intended to help people get through the COVID Pandemic without losing their home or increasing their debt. The CARES Act was not intended to help Rocket Mortgage make huge gains on its customers as a result. 

Rocket Mortgage did not give direct answers or send documentation/accountings and skirt around your requests. We felt strong-armed into the agreement. My wife received numerous phone calls from Rocket Mortgage pressing her to modify the loan. 



- [ ] We were struggling to pay our mortgage due to Covid-19. 
- [ ] We were contacted regarding forbearance and essentially sold on the idea of forbearance as an option to help us get through a tough time. 
- [ ] We were verbally told the following : - [ ] We were eligible for forbearance through the Covid-19 CARES act - [ ] There would be no fees and no interest if we were to go into forbearance. 
- [ ] That the balance of the forbearance would be added to the end of the loan with no interest. 
- [ ] XX/XX/XXXX- [ ] We entered forbearance under the impression that we were simply pausing our loan until we could get back on track with work - [ ] Our principal balance at the time was {$450000.00} with 336 payments remaining- [ ] We were in forbearance for 19 months with no indication that we were accruing additional principal to be added to our loan. 
- [ ] XX/XX/XXXX- [ ] We were told that we could no longer continue on the forbearance program - [ ] Coming out of forbearance we were verbally told the following : - [ ] We could no longer put the unpaid balance on the end of the loan at no interest - [ ] Deferral was no longer offered - [ ] We were told we had only these options : - [ ] Pay the lump sum balance of missed payments at around $ 50k or. 
- [ ] Sell our house or - [ ] Modify the current loan - [ ] We were forced to chose loan modification as it was in reality our only option - [ ] XX/XX/XXXX - [ ] Trial Payments of {$1800.00} began as we were threatened a loan default if we didnt pay - [ ] We paid XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX as Partial Payment Received and categorized as unapplied - [ ] We paid a total of {$5600.00} over 3 months - [ ] We are unable to see where these payments were applied to our loan if at all - [ ] XX/XX/XXXX - [ ] My wife and children contracted XXXX. My wife is currently struggling with long covid and still hasnt been able to return to her job as an elementary school teacher. 
- [ ] Under an extreme amount of stress and pressure we signed the loan modification document in order to avoid defaulting - [ ] Our loan was modified to a principal balance of {$480000.00} with XXXX payments remaining, - [ ] The modification added {$29000.00} to our principal amount without showing us where this addition came from - [ ] After seeing the additional principal added we had several conversations with Rocket Mortgage - [ ] We attempted get a loan disclosure so we could understand why we had around $ 30k added to our principal - [ ] We were told that this document did not exist and there was no way of generating one. 
- [ ] We were also told that we had already signed and there was nothing we could do. 
- [ ] We dont have any documents that state line by line where this amount came from or why it was applied- [ ] We also asked where our 3x trial payments for loan modification were applied to our loan. 
- [ ] We were told that they were applied to XXXX of XXXX payments - [ ] We do not have access to these documents and were told that an email would be sent showing documentation. This has not yet been received.

Company response to consumer: Closed with explanation