Consumer complaint received 2017-01-20
Company: Caliber Home Loans, Inc.
State: NJ
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
My problem began when I was steered and pushed into a negative amortization loan. The problems continued as my mortgage payment and balance increased over the years, eventually going up nearly {$700.00} a month. This coupled with recently having to go on full time XXXX and a mortgage lender Caliber Home Loans that seems to not care or respond to my requests for help has me facing foreclosure. There are XXXX of us living here, including my special needs daughter and losing our home would be devastating. We are contacting you to see if we can get any assistance with our situation and try and get Caliber to engage with us. 

When I purchased my home I had solid employment for many years as a locomotive engineer and had a solid credit profile. However, for some reason I was steered into this predatory negative amortization loan that I did not fully understand to buy the house. Despite the fact that my payments and even my balance continued to increase incrementally, I was able to pay as agreed for many years. Due to the huge increase in monthly payments as well as health issues and caring for my XXXX daughter I began struggling a few years ago and applied for a modification with Caliber and after a long review was approved, although the new payment was higher than what I had been paying. Not long after that things took a turn for the worse when my doctor told me that my XXXX was so bad that I could no longer work and had to go onto XXXX. This resulted in a loss of about {$5000.00} a month in income. I am receiving benefits, and my wife is working full time as well, but there is no way we can afford the modified payment that Caliber offered us. 

I began reaching out to Caliber to explain the situation and to inform of the drastic change in financial circumstances. I was told that there were programs available for us and that we just needed to apply and send in the paperwork. Well I have done this on numerous occasions and have made no progress and do n't really know where I stand. The problem began because I was pushed into a predatory toxic loan that was destined to fail by XXXX. After the loan was transferred multiple times, it ended up with Caliber. I am sure that they obtained this loan for a significant discount, because they knew it was destined to fail. 

I have worked hard my entire life, and this home is all I have. I do not want to fail because I was steered into this predatory loan, and then became XXXX. I want Caliber to work with me to resolve this problem. I know that there are government and in house programs available for struggling homeowners like myself. Why wo n't Caliber give me access to these programs? Instead they are rushing to foreclose on my home so that they can increase their bottom line and put me out on the street. I know that Caliber has government and in house programs available for homeowners such as me. Why are they not allowing me the opportunity to have a review completed for options based on my current and correct financial status? I do not want to lose my home!

Company response to consumer: Closed with explanation