Consumer complaint received 2024-10-29
Product: Mortgage — FHA 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: AMERICAN NEIGHBORHOOD MORTGAGE (KY)

We are concerned and frustrated with the way that AnnieMac has handled our mortgage during our recent struggles and want to point out some mistakes that have been made and try to get their attention. We have had problems with this company since the time the loan was written, we felt they pulled a bait and switch because we had applied for a home equity line of credit and thought that was what we were getting right up until it was time to sign the loan documents. Then we realized this was a full refinance into a new FHA loan which increased our interest rate and payment. By that time we needed the money to pay medical bills and debt so we accepted the new loan and the terms, but were not happy about it. As things stand now, we are behind on our mortgage payments due to major health issues and medical bills and have been trying to get AnnieMac to work with us to restructure or modify our mortgage loan. Every time I call in I end up speaking to a different person and some of the agents tell us they have our paperwork and are working on it, then other people say they need more information to work on our case. We are currently on a fixed income and are very stressed about this situation and need AnnieMac to give us a chance to be reviewed for all of the assistance programs that HUD offers for struggling borrowers. It does not seem like that is what they are doing. 

I worked for XXXX XXXX for years and retired and we moved to XXXX and bought our home with an FHA mortgage through XXXX. We struggled during Covid but XXXX worked with us and gave a forbearance that helped us get through things. About two years ago we were looking to get some cash out of the home and applied for a home equity line of credit. The agents at AnnieMac told us they could help with that and we were led to believe that we were getting a small HELOC to help pay off some medical bills. When it came time to close we found out that it was a brand new FHA loan and that we were refinancing out of the lower rate and payment loan with XXXX. By that time it was too late to bail out because we needed the money to pay off these bills. 

I have been working XXXX XXXX XXXX XXXX XXXX XXXX XXXX to supplement our retirement income for the last 3 years. I have gone through a lot of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX My wife suffers from XXXX. When I had my second XXXX XXXX XXXX I was out of work for a few weeks and all of our medical bills and prescriptions ( we take XXXX medications between the XXXX of XXXX ) just overwhelmed us and I missed the mortgage payment during the summer. I called in to tell AnnieMac what was going on and I was told that we could apply for help and they would send out paperwork for us to complete. The paperwork was not sent, and then I got a letter saying that I needed to pay up or they were going to foreclose on me. I did not have the money to reinstate and after several calls where I talked to a different person every time we eventually got a package sent out to us that my wife and I filled out. I mailed this in and got a receipt that it was received, but am not sure what is going on. There is also another issue because my shoulder is now so bad that I can no longer perform the part time bus driver job. We do have sufficient income to afford a reasonable mortgage payment, but need help getting caught up on the past due balance and are hopeful that our interest rate could be lowered or our loan term extended so that we could afford all of our bills.