Consumer complaint received 2016-03-04
Company: LD Holdings Group, LLC
State: PA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
My wife lost her job so we contacted our mortgage company ( Loan Depot ), they had us fill out forms to apply for a modification.They were very vague and never once spoke to use about what they were doing. We thought they would review our financial situation and cut interest or adjust the terms. It was never clear what they were doing. The only time they did contact us, was for paper work and re-submission of paper work. Prior to applying for a modification we never missed a single payment ( on any account ) and our credit score was outstanding. Fast forward to XXXX XXXX, we 're entered into a modification " trial period '' and we begin to receive delinquent payment and foreclosure notices. We call immediately in fear that we are going to lose our home, they assure us everything is fine and that this wo n't affect our credit. All delinquencies will be removed from the account upon the trial period ending. This happens again in XXXX and we call again fearing we are being lied to. The assure us again that this is normal and our credit will not be affected. 

On XXXX XXXX, my wife applies for a credit card and is denied, reason : to many delinquent payments. I run a credit report fearing identity theft and find that Loan Depot has filed a 60 day delinquency against us. I call Loan Depot to resolve the issue and they inform me that they will never remove the delinquencies since my loan is delinquent and the trial period does not apply toward my mortgage. I ask them to pull the call tapes from my wife 's previous conversations, where my wife was informed our credit would not be affected. The support rep tells me she is going to transfer me to a manager and proceeds to drop my call. 

I know HARP is a legitimate program but this company has been very misleading as far as what the modification is, how it will affect me, and what to expect after the modification is complete. They have never once followed up with me, they have never assigned a rep to the account they have neglected me as the consumer and have committed fraud by falsely claiming delinquent payments while assuring me this will not impact me in any way. Why was the loan not frozen while the trial period was in progress? Saying it could affect your credit is implied, refinancing anything will have a minor impact on credit but filing a 120 day delinquency? How is that not fraudulent? They have ruined my credit was mid XXXX 's and is in the XXXX 's with two more trial payments looming ( which will be reported delinquent ) The support rep told me I could cancel the modifications pay the delinquent amount {$3700.00} but my credit would still be impacted. The rep could n't even provide me my next months payment if I was to cancel out of the modification, they really make it seem like they want us to stay in the modified loan. They have put me in a terrible position and have ruined my credit. All because I wanted to see if we could save a couple of dollars a month, this modification was not needed and would have been avoided if they clearly expressed what they were going to do to my loan and to my credit.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation