Consumer complaint received 2021-01-14
Company: Caliber Home Loans, Inc.
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Predatory Lending Claim - We are filing this claim due to age and low-income discrimination, unfair, deceptive and negligent lending practices, which has put our family in a situation where we can not afford our home and will be forced into foreclosure in the near future. 
We were knowingly lied to and taken advantage of by Caliber Homes Loan on a number of occasions from XXXX to XXXX on our mortgage loan. 
Current Loan Servicing Provider : XXXX XXXX XXXX XXXX. 
Effective date XX/XX/XXXX to present - XXXX XXXX XXXX XXXX XXXX XXXX, Utah XXXX Contact # XXXX ( XXXX ) XXXX All correspondence are sent by mail only to home owners just set up online account to review documentation on XXXX XXXX XXXX  states they have no paperwork or documentation from Caliber Home Loans from XXXX. They only have the loan modification document from XX/XX/XXXX and can not explain or speak to anything in the modification documentation as it came from Caliber Home Loans. 
Previous Mortgage and Loan Servicing company : Caliber Home Loans Inc. 
Effective date purchased loan from XXXX XXXX  XXXX sometime between XXXX and XXXX to XX/XX/XXXX when they transferred ownership to XXXX - ATTN : Loss Mitigation Department XXXX XXXX XXXX XXXX  XXXX, OK XXXX Contact # XXXX ( XXXX ) XXXX or XXXX ( XXXX ) XXXX XXXX states they have no paperwork or documentation as the loan has been transferred to XXXX. We requested documentation for all paperwork from the origination of the loan to XXXX from Caliber Home Loans which was prior to the transfer to XXXX. They only have the loan modification document from XX/XX/XXXX and can not explain or speak to of the numbers stated in the modification as they claim to have no other records. 
Initial loan in XXXX with XXXX XXXX  XXXX was a Fixed 30-year Loan with a 4 % interest rate for the purchase price of {$110000.00}. 
Predatory Lending Claim - We are filing this claim due to age and low-income discrimination, unfair, deceptive and negligent lending practices, which has put our family in a situation where we can not afford our home and will be forced into foreclosure in the near future. 
We were knowingly lied to and taken advantage of by XXXX XXXX XXXX on a number of occasions from XXXX to XXXX on our mortgage loan. During this period my family was faced with extreme financial stress due to my husband losing his job. We were unable to make our monthly mortgage payments for a period of time. I reached out to Caliber Home Loans for support where I was informed, I could apply for a loan modification to help reduce my monthly loan to make the payments more manageable for my family. Caliber agreed to send me the documents to fill out for an application for request for loan modification. I completed the forms and sent back where months went by while I waited to see if I was approved. Unfortunately, I was unable to make all the monthly payments during this time, but Caliber assured me the payments I was behind would be added to the end of the mortgage and I would not see any additional fees because since I am pending a loan modification approval everything freezes including late fees. Once we received the paperwork in the mail on the modification I called back in as I did not understand what the documentations was saying and needed additional support with reviewing. 
The explanations provided during the phone conversations were very limited and provided misleading information just to get us to sign the documents. We were informed by the company the only way we could keep our home was to sign the modification documentation otherwise they would take the home because we have no other options. As we were confused and did not understand the documents sent, we were given a short window to review and send back but were encouraged that this new rate of {$640.00} a month at a fixed 4 % interest rate would be our new mortgage rate/ escrow going forward. We were also informed that the additional unpaid amount listed on the modification for {$100000.00} would be removed once we began the modification and made the monthly payments over the next twelve months. So, in fear of losing our home we signed the paperwork with assurance over the phone from Caliber this was our best and only option to keep our home. In XXXX our loan was then transferred to XXXX XXXX XXXX XXXX We went on making the new payment amounts each month and on time. 
Within in a year after we were informed the additional amounts would be removed, we contacted the new loan provider XXXX to have the additional {$100000.00} removed because all payments were made and received. XXXX  informed me they had no records of the agreement with Caliber Loans and there was nothing they could do to remove. Ashamed and confused I just went on making the payments not knowing what to do as I still have no understanding of where that additional {$100000.00} even came from In XXXX of XXXX, we were notified by mail from the new loan service provider XXXX our payment has increased as of XX/XX/XXXX to {$2000.00} a month at a 11.99 % interest rate, based on the terms of the modification with Caliber Home Loans. I called XXXX and explained this agreement was not what Caliber Home Loan explained to us and guaranteed us that our new monthly payment with escrow going forward to the end of the loan would continue to be {$640.00} a month with a 4 % interest rate. XXXX stated that was not the case and if you can not afford it you can request a modification through us. 
This brings us to where we are now, we now have a huge loan payment of {$2000.00}. 45 a month which we can not afford as we are seniors over the age of XXXX on a fixed income, which both companies were well aware of. We now have an inflated interest rate of 11.99 %, which I have no clue where this even came from as we were told we were on a fixed rate of 4 % for 30 years. The loan we originally took out on the home was for {$110000.00} in XXXX and now according to XXXX shows the following : Unpaid Principle : {$130000.00} Unpaid Interest : {$75000.00} Other Unpaid Amount : {$34000.00} Total : {$240000.00} How is this possible? I am XXXX years old, XXXX  and falling deeper in debit. Owing double on a home I purchased in XXXX due to adding all types hidden fees, high interest rates, hidden language delaying the loan modification process, additional unknown fees and forced to sign documentation that was never clearly explained. All of this being done on top of my mortgage, I can not get a good faith review of my loan modification application and I am caught in this horrible vicious cycle. I am seeking your help, I can not lose my home, it is everything that I have. Out of fear and shame I did not seek out for help but have recently leaned on my adult children as I have no where else to go and not sure what to do. We have contacted both companies and requested documentation but have been told they do not have. We have filed a written request for the additional documentation and am currently waiting to see what both companies send. 
Recent Calls XX/XX/XXXX - XX/XX/XXXX XXXX XXXX rep # XXXX Caliber XXXX XXXX # XXXX Caliber XXXX rep # XXXX Caliber gave no name rep # XXXX Caliber gave no name rep # XXXX As of today we have received no documentation on the loan from Caliber Loan as promissed when we filed the documented written request

Company response to consumer: Closed with explanation