Consumer complaint received 2024-09-26
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — An existing modification, forbearance plan, short sale, or other loss mitigation relief
Company: Onity Group Inc. (NV)

I hope this letter finds you well. My name is XXXX XXXX, and I am writing regarding my mortgage loan serviced by XXXX XXXXPHH Mortgage for the property located at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX NV XXXX. This correspondence serves as a formal request to cease all foreclosure actions against me and cancel sale date scheduled for next month XX/XX/year>, to honor my request for an affordable loan modification in light of my current financial circumstances. Still show active modification see attached proof. 

When I originally obtained my mortgage from AHMSI, the loan offered was a negative amortization or interest-only loan with exorbitant interest rates exceeding 10 %. This loan was neither sustainable nor affordable, resulting in a balance that inflated to {$760000.00}, despite my efforts to meet my payment obligations. It is critical to note that my situation is not a result of any negligence on my part ; rather, the inflated loan balance stems from the unsustainable nature of the loan that was provided to me. 

Furthermore, I faced significant hardships, particularly during the XXXX pandemic, including the loss of my elderly mother and a XXXX XXXX myself. Given these challenges, I have attempted to negotiate alternatives to foreclosure with your company. However, I have been met with resistance and a clear intent to proceed with an auction sale coming up soon on XX/XX/year> while am still seeking assistance, despite my ongoing request for a loan modification in which I attached proof of workout active. This dual tracking practice is both illegal and emotionally taxing, as it undermines my legitimate efforts to retain my home. 

It is my request that XXXX XXXX/PHH Mortgage immediately halt any further foreclosure proceedings related to my property and provide a loan modification that reflects the original loan amount of {$410000.00}, taking into account my financial capability. The proposed modification plan I previously received a year ago was demanding monthly payments of {$5300.00} which I refused that modification offer because was not affordable nor feasible and based on overly inflated loan balance, which is fraud, is unaffordable given my income of approximately {$5500.00} per month at that time. 

In addition, I wish to remind you that your company has not fulfilled its obligations under the Real Estate Settlement Procedures Act ( RESPA ) by failing to provide written acknowledgments of documents received or timely responses to my Qualified Written Requests. Such oversight warrants further consideration of my case and an earnest attempt to provide a fair resolution. 

I plead with you to reconsider my circumstances and work with me to develop an affordable modification that allows me to continue making payments while retaining my home. This is not merely a request for financial leniency ; it represents my genuine desire to honor my obligations and remain in the home I purchased under what can only be described as flawed circumstances. 

Thank you for your attention to this matter. I expect a prompt response and look forward to resolving this issue amicably.