Consumer complaint received 2016-07-26
Company: Ditech Financial LLC
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I have made numerous complaints to CFPB about our mortgage over the years because it keeps being moved from company to company due to lawsuits and injunctions from the government due to the practices of these mortgage companies. My loan went from XXXX ( which went under due to bad loans ) to XXXX XXXX XXXX XXXX which was sued by the gov't due to not modifying properties with bailout money ) to Greentree ( who had an injunction against them from the gov't for not modifying properties ) and now onto Ditech. I paid three times what the house was really worth in XXXX and was hit with the housing crash and could not sell the property. I had a XXXX baby in XXXX and lost income due to caring for her and I spoke with Bank XXXX XXXX EVERYDAY for an entire year who assured me over and over we would work out a modification no problem. They then sent me a proposal for a modification where they INCREASED the mortgage from {$1100.00} to {$1900.00} a month! Then Greentree took over, I applied for a modification with them, never heard a word, put the house up for short sale, had numerous offers, Greentree turned down every one. Then Ditech took over, I applied for a loan re-modification with Ditech and were approved to make XXXX payments of {$960.00} with no details of the permanent modification on the temp agreement. We made all XXXX payments on time and were sent the contract for the permanent modification this month. This modification is HORRIFIC. It not only has a balloon interest, a balloon principle but also {$100000.00} added on for " fees. '' Ditech claims this modification is under the HAMP " Making Our Homes Affordable '' program, but in researching that program they are completely violating the entire program. They are basically asking us to agree to pay {$400000.00} for a property that is worth maybe {$140000.00} on a good day. Stating that when the mortgage is " paid off '' we will then also owe a lump sum of {$100000.00}. This is the kind of loan that caused the housing crisis in the first place. We are now going to see an increase in foreclosures AGAIN due to these outrageous and crooked modification loans that the banks and loan agencies are pushing on desperate, uninformed people. They are disguising these loans with low monthly payments but putting massive debt on these properties on the back end. How is this " Making Homes Affordable ''????? The government needs to be made aware of these horrific loans happening again. I work in the court system and see it daily, my husband is a XXXX, we have XXXX small children. Our youngest has had many health issues and constant therapist and specialist visits, we do not need the added stress of a bank trying to XXXX us over. I have been in court with a pending foreclosure for this property and it has been nothing but a nightmare. I can pay a mortgage but will not pay XXXX times what my house is worth and pay for hundreds of thousands of dollars in " fees. ''

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