Consumer complaint received 2016-03-26
Company: CIT BANK, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
After the market crash XXXX, we were in put into financial stress to manage rental house properties and our own personal home loan mortgage. Our attorney advised us to file for bankruptcy on the XXXX rental homes and the XXXX on our house. During this process our attorney, recommended we delay the filing as to improve our outcomes on the bankruptcy. Because we followed this advice, we unfortunately lost our XXXX rental properties ; XXXX through a foreclosure and the other XXXX through a short sell. We informed by the attorneys that we had reached the statue of limitations on our all of our loans. To verify this, we contacted Indy Mac ( XXXX XXXX ) in XXXX, they told us the XXXX was charged off on XXXX XXXX, XXXX. When we were checking our credit report in XXXX XXXX, we observed the second was back on our credit report. Immediately we made weekly calls in attempts to make a settlement and or arrangements to correct this issue. We submitted in XXXX XXXX a short sell settlement package to XXXX XXXX, We made numerous phone call on the status and always received the runaround and " someone will get back us ''. We resubmitted a loss mitigation request on XXXX/XXXX/XXXX. We finally received a letter dated XXXX/XXXX/XXXX stating XXXX XXXX received our paper work and needed more information, on which we complied with. We a received counter offer letter XXXX/XXXX/XXXX. Again, we made numerous calls and finally we were told XXXX XXXX had our account as per a collection agency, because One West wo n't accept our money. We contacted Penncro XX/XX/XXXX. We began making payments to XXXX to XXXX. On XXXX/XXXX/XXXX, we had received a notice that our last payment check had been returned to our bank. Called XXXX, but XXXX XXXX XXXX answered the phone. Found out they have had the loan since XXXX. No communication was made by XXXX XXXX XXXX. They advised us to refinance XXXX or short sell the house. Contacted XXXX XXXX to refinance, but showed they had nothing on any credit reports. During a 3 way call with One West and XXXX XXXX, One West refused to allow the call to be recorded. Called back One West, the XXXX stated we have now {$56000.00} on top of what we have left to pay. Because of this we ca n't refinance the original our first loan to pay this off. We have been told before by Indy Mac, XXXX XXXX, and XXXX that we have had no interest or fees. We feel this is a deceptive business practice at the level of fraud and theft. We have made our XXXX loan payments faithfully since XX/XX/XXXX and we are now more in the " hole '' than when we started. The position that the HELOC wo n't work with us as to take our money and continue to place us in position of losing our home and continually tacking more fees and interest to compounds the impossible situation. We feel have the finances to bundle up the XXXX and the XXXX if can get the loan ... BUT, because they have us in a rock and hard place, it prevents us from doing this.

Company response to consumer: Closed with explanation