Consumer complaint received 2024-06-14
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: Fairway Independent Mortgage Corporation (MA)

Dear XXXX ; to start thank for give me the time to address this issue. In XXXX, around XX/XX/XXXX of the stated year. My wife and myself acquired a home purchased thru a foreclosure deed at XXXX XXXX XXXX XXXX, MA XXXX in the amount of {$290000.00}. Due to the conditions we were approved for construction loan in the amount of XXXX as a rider with an out of pocket of XXXX to closed. Which brought the total loan amount of $ XXXX by the time we closed. We then begun working and notice the contractor was not doing their job and was pretty much milking the funds with little or no progress. We decided to switch contractor which by then the bank give us a hard time as we were by all means paying attention to the work and that items order and set forth but more so install. It will take nearly a year to have the bank agreed to switch or approved consultant which by then I had to finance while leaving away from the home the construction to keep the project moving and aiming to advance or finish the project, this will mean coming up with XXXX while on top of our mortgage obligation. Mid, XXXX we then get the bank XXXX XXXX XXXX XXXX XXXX  successor of Fairway Mortgage-loan originator ) Then when we were ready to continue and asked the bank to reimbursed us for the out of pocket expense they say no because we are not able to do owner manage project which I then stated we already paid for these and install by license and bonded contractor which meet FHA guidelines even if they are not on their list of approved contractor ; a license FHA inspector came out by the bank review on confirm these works and sign off which makes no difference to us as a homeowner. We want to finish and we can not afford to continue to draw funds out of pocket and not reimburse since we are single mid tax payers ( my wife work a XXXX and I a tax advisor that uses the business revenue to try to advance it because we really to improved the quality of life. Early XXXX as of result of the funds been held back by the bank we know begun to have issue with what we though was a good contractor but once again yet this time was told by the contractor that he finish the foundation and demanded full pay. But because the bank refuses to pay and hardship was eminent we halt for a couple month, while the contractor sue us claiming the work was done and put a a mechanical line making unable to refinance or put a HELOC to finish in lieu that XXXX  will reimburse. The contractor walk away and while continue to fight with the bank for reimbursement. We now added another battle because project still on finish then I continue to fund the project after a tax season with an addition XXXX covering plumbing and electrical and framing yet still no sign a reimbursement making now the relationship with my soon to be estrange wife not worthy to continue. During XXXX due to XXXX we halted most work to it as we fight with the bank but resume in XXXX and XXXX. At this point mortgage was difficult to pay but we made it thru and when we now could support paying for both construction and mortgage. last payment made XXXX XXXX ( i have no record as I'm in the divorce battle to keep my house ). I then asked to be provided an accounting which were notify that are loan collapse and that the construction fund is not available. We asked for a pay off and was toll the amount due is still $ XXXX which is what we begin with, our payments were not even account for for XXXX  years. We also try find out that payments made by FHA ( XXXX ) was payout in XX/XX/XXXX in the amount of {$16000.00} which concede with the request for reimbursement yet the bank did not turn over. 
Other things find out is that our mortgage originator never told us he was giving us a Seller financing ( XXXX XXXX Mortgage ) this was not good as i know these are interest only type of loan. Very disappointed and worry because the bank knew what was going on and therefore ; did not said anything to correct this issue. I'm now loosing my home because the bank treating to foreclosed but more so is because my wife does not understand and she is willing to sign of on the sale of the housed due to the fact that we are in divorce and she is mad at me for whatever giving reason. I don't believed anyone understand my vested interest but I'm being outbid with the bank, the court and my wife ( divorce ) as they assign a special master to force the sale of the home. 
I ask to be help in keeping my home, by forcing the bank to removed the fact that they have the ability to foreclose and to modify my loan so i could keep, finish my home. I don't want to be a pain but i don't think is right when the bank did not follow procedure and by the virtue of reassigning the loan multiple time to cover their tracks of the real payoff and also the right to taken over the house. 
I asked the division of banking to audit and ask for documentation to Fairway Mortgage, XXXX XXXX XXXX they servicer XXXX, XXXX, XXXX as they unfairly ripping me away from my home and keep denying access to the files that would have allow me to assume the loan. 
Thank you XXXX