Consumer complaint received 2024-10-25
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: NEW YORK COMMUNITY BANCORP INC (GA)

XXXX XXXX Flagstar Bank, XXXX XXXX at : Loss Mitigation XXXX XXXX XXXX XXXX XXXX, MI XXXX Also located at : General Correspondence Attn : Mortgage Servicing XXXX XXXX XXXX XXXX XXXX, MI XXXXXXXX XXXX XXXX XXXXXXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX Flagstar Bank, NA XXXX XXXX XXXX as the XXXX XXXX President of Flagstar Bancorp.

To whom it may concern, I submit this complaint because Flagstar Bank is using time wasting tactics to force me out of my home. 
I am writing this letter as another attempt to save my familys home. We have lived in this home since XX/XX/XXXX, moving in as an effect of COVID. I moved into this home as a tenant with my XXXX XXXX and XXXX son, to save money in a time of financial distress and to comfortably care for both of my loved ones. During our time in the home, we were given an opportunity to purchase, and we took it as a chance to have security, as home and rental prices were going higher than we could afford. Months after closing on the property my grandmother passed away and several attempts for new employment was denied. Both of these occurrences created an adjustment in our household finances and stress. Eventually I received a job offer and began approximately 3 months after the offer. That delay in the start time caused additional financial stress, so I reached out to Flagstar for assistance. My expectation was to have the past-due balance moved to the back of the loan, but the representative offered me a Forbearance insisting it would allow me to catch up with financial expenses and Id be eligible for assistance at the end of the forbearance. The representative also stated I could request an extension in 3 month increments until my hardship has ceased. Once my hardship ceases, I would be eligible for one of many options. 

I did have to make some requests for extension after I started working due to a decrease in available hours due to the debate of a government shutdown. I am an employee of the Federal Government, so those debates have a direct impact on me with my job. As time passed, I was ready to come out of Forbearance and called to request steps to the process. I followed all the steps and submitted documentation on numerous occasions, each time being denied. Many of the denials were unclear and to this day I am still unclear why I am not receiving assistance. There was a time when I was given an opportunity to make XXXX payments to qualify for XXXX of the resolution programs. I made the first XXXX and once the third payment came, Flagstar did not accept it and stated I was over the months to qualify. That seems like a stall tactic. 

In these economic times, it has been difficult to adjust to the new normal. Prices are higher everywhere, most significant are housing and food. It was not my intention, nor desire to be delinquent and I honestly thought I would get assistance. Not once did a representative assure me of my options and foreclosure was never one of them. Every time I called Flagstar, I was repeatedly told what my options were, but I keep getting denied for reasons that are vague and misleading. I currently have an active application with Georgia HAF and am awaiting a decision. 
If given a fresh start, as an FHA borrower, I will be able to honor my request which I have repeatedly applied to have the balance be placed on the back end while I continue to make monthly payments. As a homeowner, I am asking for the appropriate personnel to investigate this matter, to investigate and with the addition to an audit. I am requesting that the sale date of XX/XX/XXXX be postponed until all investigations are complete. This is a complaint against Flagstar and all of its affiliates. 
Kindest Regards,