Consumer complaint received 2015-11-24
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: Fay Servicing, LLC (KS)

My loan was in the final stages of being modified by XXXX XXXX when it was sold to Fay Servicing. First contact Fay had made with me was horrible. They said that my loan was in default and that they were going to Foreclose on me. There was no mention of a modification until I said something. Fay said that through there modification process they would work with me and get my payment lowered to an amount that I could afford. Loan modifications are done to help keep home owners in their homes. This is suppose to be the reason that this company even exist so I thought. Upon reading up on Fay Servicing it turns out that Fay Servicing has opened a new division XX/XX/XXXX. An REO Division. Which is unfortunate for me because instead of trying to help me they their goals were always the opposite. They just wanted my property. My loan was already in default when they purchased it so since the home has a market value of XXXX dollars and only XXXX owed my property fell right in line with Fay 's REO Division. Fay with investors from XXXX XXXX Purchased my property and many others like it from XXXX XXXX with the intent of taking the property and foreclosing on the homeowners. Of course Fay offered to modify my home loan as I requested. Now like me and all other struggling Americans are led to believe modifications are supposed to help the home owner stay in their home by providing a reduced payment by altering the value of the loan or the loans interest rate. These Solutions are all outlined in the Governments Harp program. The Harp program also encourages the home owner to work with their mortgage company first, which I did. After submitting XXXX plus pages of personal information to Fay they came back with a modification offer on my home loan which increased my payment from XXXX a month to over XXXX a month. They told that 's final and to pay it or get out. Now going through a financial hardship already and being told that their is no need to worry and that my payment would be lowered, Fay lied to me. Finally I got then to take a look at everything again and explained over and over again that if I was having trouble paying XXXX then how could I afford to pay even more. So I sent in another XXXX plus documents to fay again and in the meantime I got a Foreclosure notice. I called Fay and I was told not to worry about that. They told me that was a mistake. Finally Fay got back to me and said that this was the final offer. They wanted me to pay them XXXX for 4 months on a trial modification and at the end of that my payment would be almost XXXX a month. Keep in mind that I sent in XXXX pages of info on my financial situation and they knew that I did n't have it. I was told to pay it or get out. So I paid it. I missed child support payments and other bills. I sold my personal items and starved myself but I made the first three payments on time and on the last payment I had paid it and my wife had decided to leave me at that same time period and took all of the money out of the bank accounts so the check did not clear. It was returned and as soon as I found out I called Fay and paid them using a company card and it cleared but Fay said it was to late and they already foreclosed on me anyways. So Fay then decide to give me a new account manager but did n't inform me. Instead they contacted my soon to be ex-wife who is not even on the loan. I was finally contacted by my ex- wife and she said that I need to contact my new account manager at Fay. I called Fay right away and they told me that I was to late. They said they tried to call me. They had my wife as the primary contact and her number but not mine. Weeks before this I had requested that Fay only talks to me and especially not my wife and they agreed. My house has gone to the Sheriffs sale on XX/XX/XXXX and surprisingly it was purchased by there new REO division, which was t