Consumer complaint received 2016-03-30
Company: Caliber Home Loans, Inc.
State: NC
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I filed previous complaint number XXXX. 
If I have to go through foreclosure, both XXXX XXXX and I are both losers. We both will lose a lot of money if I go through foreclosure. 

Due to the fact that Caliber Home Loans did not tell me the XXXX XXXX Guidelines up front is the reason that I am in this situation. Had I known the guidelines, I would have made a different decision. I am now facing foreclosure. I had wanted a modification but Caliber did not tell me the XXXX XXXX Guidelines, The property was rental property and I had an agent ready to rent the property out. Even though it was in pre-foreclosure status, I could have caught it up by now. While waiting for a modification more months went by and I got further behind. If Caliber had just told me the XXXX XXXX guidelines I would not have even applied for the modification that took many months to get processed. Additional months went by while I applied for a modification that I was not going to get anyway. Now we both lose money -- XXXX XXXX and I. 
When I filed the previous complaint, Caliber did not address my complaint but instead only sent copy of my files. 

Initially all Caliber had to do was say " this is a XXXX XXXX loan and these are the guidelines ''. They could have told me the limit for the modifications. Caliber failed to disclose the XXXX XXXX guidelines when they should have known the guidelines. It was not necessary for me to go through a modification process for Caliber to know the guidelines. 

Also Caliber did not adequately address Compliant # ( number XXXX ) See that complaint for additional detail. 1 ) Could your CFPB agency respond to it this directly? Could you let me know if Caliber should have given me the XXXX XXXX Guidelines up front? I do n't understand why they did n't. They knew that it was a rental property and I could have rented it out for enough to pay the mortgage. If I had known all the information, then this problem would have been solved a long time ago. 
Since I will make no money on a foreclosure and no money on a short-sale either could someone send me the written guidelines showing why I have to go through a foreclosure versus a short-sale if there is a buyer. If I am not making any money on the deal either way, then what is the reasoning behind the foreclosure? Going through a foreclosure would cause me to have to go through another hardship that affects my permanent record of having a foreclosure versus a short sale ( all because in the beginning Caliber did not tell me the XXXX XXXX guidelines ). Could the law or guideline to this be sent to me in writing? 

Could CFPB investigate this complaint and let me know directly whether or not you agree that Caliber should have told me the XXXX XXXX guidelines up front ( before I even submitted modification papers ). They said that I did not get a modification because of XXXX XXXX guidelines, but they did not tell me those guidelines in the beginning. They gave me the false hope that I could get a modification. Do you agree with what I am saying? Please indicate your comments. 

My hardship now could have been avoided because at that time I could have got it rented and it would have paid the mortgage on the property. Now we are both losers -- XXXX XXXX and I. Could CFPB address this and tell me directly whether or not Caliber was in violation? Your response shall be greatly appreciated. 

See previous Complaint # XXXX for additional detail.

Company response to consumer: Closed with explanation