Consumer complaint received 2018-03-29
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Onity Group Inc. (RI)

Hi. We have been paying the mortgage since XX/XX/XXXX. The actual loan amount was {$130000.00}. We have paid, with no escrow, {$860.00} a month with a 6.8 % interest on the {$130000.00} since XX/XX/XXXX. We couldn't afford the 15 year term, it would have been over {$1000.00} a month. We didn't buy a new house, we bought home where we grew up. One of my brother 's wanted his cash share, so we had to take out a mortgage. I have XXXX brothers. My other brother signed the house over to me. In XX/XX/XXXX, I figured we had finally paid off what we actually borrowed plus {$10000.00} to the mortgage company. You see, 6.8 % of {$130000.00} is about {$10000.00}. The whole out of our pocket money amount we have paid the mortgage company is {$140000.00} for {$130000.00} needed. So, if I go online and check the bill it states we still owe {$100000.00}. In XX/XX/XXXX I filed for a loan modification and was accepted. They never told me what the terms of the loan modification was going to be. I went through the trial period. I finally got the formal papers to sign the loan modification. Remember we have a lien on our property and it is scary. I figured whatever the mortgage company tells me to do, I should do it. I was hoping they would just cancel the rest of THEIR DEBT I supposedly owe. I would like to add finance charge to the extra amount I have been paying them because we paid back the exact amount we borrowed and some. I want 6.8 % of the {$10000.00} plus of which we didn't owe. Okay? Anyway, the modification included escrow, a drop from 6.8 % interest to 3.8 % interest and, low and behold, a balloon payment of {$32000.00} after the loan is paid in full in the year XX/XX/XXXX. Plus, we have to pay about {$100.00} more than the {$860.00} per month. The escrow includes the house taxes and the house insurance. You see, since XX/XX/XXXX until the year XX/XX/XXXX, we will be paying all interest. I also noticed they added about {$5000.00} to the principle during the loan modification which made the total principle due to be {$100000.00}. I looked at the first payment and how it was split up on the bill. The mortgage company subtracted about {$1.00} from the principle and the rest went to interest charge, and then {$300.00} went to the escrow. XXXX DOLLAR AND XXXX CENTS? subtracted from the {$100000.00} principle they say I owe after the loan modification. Right now if you add the balloon payment of {$32000.00} and the {$100000.00} which equals {$130000.00} is more than we actually borrowed. I have never complained to the mortgage company. I asked for the loan modification after I was sure we paid what we actually had borrowed, the {$130000.00}. I figure the escrow is the least they can do by paying the taxes and house insurance out of my money. Isn't that a lot to do? We have been in the loan modification since XX/XX/XXXX and it is XX/XX/XXXX. Just think if we have to pay the mortgage company until the year XX/XX/XXXX, we will be paying more than twice the amount we borrowed plus {$32000.00}. I am in shock and I wish somebody would tell them to go away because we paid back what we borrowed. There is no sense to refinancing. I am home where I belong. I can't afford to go to church. We were not in default of payment to go into the loan modification.