Consumer complaint received 2016-07-29
Company: CARRINGTON MORTGAGE SERVICES, LLC
State: FL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
On XXXX XXXX, XXXX, we had a call with the supervisor from Carrington Mortgage Services, LLC, which marked the final episode of a grueling and very unfair negotiation, to say the least, for a mortgage modification that started XX/XX/XXXX. 
First with XXXX that resulted in XXXX different offers. The XXXX offer came on XXXX XXXX, XXXX after a lengthy process of submission of documents and forms that got lost a couple of times. We declined the offer due to the high monthly payment. After numerous phone calls with XXXX and the re-introduction of an entire new set of documents, we got our XXXX offer on XXXX XXXX, XXXX. Frustration on the whole process was staring to settle in, and as unfavorable as the offer was, we proceeded to accept all the terms on the XXXX one, with only XXXX request, to extend the term from 15 years to 30 or at least 20 years, plainly due to affordability. Our only request was repeatedly denied regardless of the multiple escalations that we attempted. The next thing we heard from XXXX was that they have sold our loan to Carrington Mortgage Services LLC. 
Ignorant about the intentions of the new player, but with a lot of optimism we started from scratch the entire documentation for the request of a XXXX mortgage modification with our new lender, Carrington Mortgage Services LLC. At this point, we were experts on the requirements and forms needed for the process. 
We submitted the request and he offer response never came ; on the contrary we were told that the request was denied because of the size of the loan and the balance on it. Months kept going by and the dream to keep our home started to become a very distant dream full of nonsense and frustration. 
Around XX/XX/XXXX, we were served with a Foreclosure complaint action from XXXX XXXX XXXX XXXX XXXX, as Trustee for XXXX XXXX XXXX XXXX XXXX. A XXXX entity came into the picture, only to ad to the confusion. 
On a desperate move and threaten by such action, we tried to re-initiate the negotiation on the mortgage modification by offering a good faith amount of money towards the loan and by doing this we were able to brake through and put a hold on the foreclosure action. Soon after we started negotiating the good faith amount, interest rate, term and monthly payment. Again in an effort to lower the monthly payment, under their approval we went ahead and purchase our own Home Insurance to exclude it from the monthly obligation. 
The negotiations ended with a 40 minute call on Tuesday, XXXX XXXX between the Supervisor, XXXX, my wife and I on the phone. The call is recorded and it took place between XXXX and XXXX ET. 
Please request the recording and listen to all the contradictions, unfair negotiations, nonsense statements, scary tactics and complete lack of due process. 
The hold on the foreclosure action will be lifted at the end of this month, or so they threaten with, and our home is gone. 

We understand the fact that as the months went by, the unpaid balance on the mortgage payments and late fees grew out of control. However, we always maintain the objective of resolving this matter and keeping our home throughout the whole process. Moreover, what the lenders wo n't admit is the fact that for 10 years from XX/XX/XXXX to XX/XX/XXXX, equivalent to 120 monthly payments plus, my wife and I made timely monthly payments on an Interest Only Loan in excess of {$700000.00}. We ask, who is ahead in this negotiation? The answer is clear.

Company response to consumer: Closed with explanation