Consumer complaint received 2016-07-27
Company: Baird Home Corporation
State: IN
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
We went to look for a home in late XX/XX/XXXX. We happened upon a place that sold manufactured homes, and we decided that this would be the best option for us. We agreed to purchase a manufactured home for {$77000.00} with an additional {$30000.00} for basement. When the company came to do the basement work, they started doing it wrong, so we told them to stop and ended up bringing our own excavator to do the work, who only charged {$15000.00}. Our initial construction loan ended up being for {$120000.00} anyway, and when we asked what happened to the {$15000.00} that we did n't use, no one would provide us an answer. The rider to our original loan information stated that we were to have 60 days interest only and after that time it would be prime + 3 % - somehow we ended up being charged 12 % interest. We were first time homebuyers and did not know any different, so we signed the documents as we did not want to lose our home. They filed a mortgage dated XX/XX/XXXX, with a maturity date of XX/XX/XXXX. For XXXX years we paid them {$1400.00} per month. After XXXX years they told us there had been no principal reduction. We consulted an attorney at that time, and he got them to do a modification down to 6 % but we somehow ended up owing {$120000.00}, so we went backward on our loan, which did n't make any sense to us, but we were so scared to not sign it as we did n't have a lot of extra money to pay an attorney to fight the lender, and we were afraid of losing our home. We have constantly been lied to by this company. We asked for an overview of everything that we have paid and they have not provided any itemized statements beginning in XX/XX/XXXX, or an overview of what was paid out on the construction and placement of our manufactured home. About XXXX months ago, I consulted a different attorney. She advised us that unless we stopped paying we would not be able to get any answers from the lender. We just received foreclosure paperwork from the lender and they are now saying that we owe {$120000.00} of principal plus over {$4000.00} of interest, which is crazy as we only stopped paying in May..how does over {$4000.00} accrue in XXXX months??? We are tired of being badgered by this company. We do n't want to refinance because we do n't want to pay them that amount. We admit that we owe them something. We also do n't know if we can refinance because as of XXXX months ago this company had reported XXXX to the credit bureaus to show that we were making regular payments. What concerns me more is that this company has been know as XXXX different names over the course of our dealings with them, so we rarely get straight answers. We have asked our attorney to file for a settlement conference ( that is what I think it is called XXXX, to see if we can come to an agreement, but I think this company has taken advantage of us since we were first time homebuyers, and blue collar workers who did n't know our rights. 
I also want to note that we entered into an agreement with XXXX, and the company has changed into XXXX XXXX Inc. and XXXX ( I could not submit all of those names under lender name ).

Company response to consumer: Closed with explanation