Consumer complaint received 2017-12-18
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Caliber Home Loans, Inc. (CA)

I have struggled to keep my home for years and during this time I was serviced released to Caliber Home Loans. Working with Caliber Home Loans has been extremly difficult, but I have been persistent and was finally able to receive an approval for a modification to save my home. This was in XXXX, when I attempted to make my first trial payment I was advised that I could only use XXXX XXXX to make my trial payment. This payment was made, but Caliber deemed it late and then refused to honor my modification. I was soon facing another foreclosure sale on my home and proceeded to escalate my frustrations with Caliber by filing a law suit against them in my local superior court. This lawsuit was eventually settled for a loss mitigation review of my options to avoid foreclosure. This was early XXXX and my wife and I eventually seperated and divorced. We decided it would be in our best interest to pursue a short sale so that we could resolve this debt and move on. We do not wish to have a foreclosure on our record. I listed my home, it suffers from deferred maintenance and incomplete repairs from a plumbing problem we encountered several years back. We were unable to fix it with insurance due to being behind on my mortgage-thats another circle of problems. These problems make my home less appealing to a prospective buyer since it is currently not in move in condition and it requires alot of work to make it so. Caliber Home Loans commenced working on the short sale and ordered a Broker Price Opinion on my home. This agent that came out gave modest credits for the repairs needed and my value was set at XXXX. Move in condition homes in my area sell anywhere from 500k-550k. This caused the offer that we accepted to be countered to the XXXX " value '' and the buyer decided that it was not in their best interest to pursue this home. We continued to market the property, received inquiries from different agents but non brought us an offer anywhere near the price Caliber would accept. After several months I finally received an offer from an agent for XXXX. Upon submission of this offer my agent was advised that as of XXXX/XXXX/XXXX Caliber Home Loans would no longer review short sales on any of their private investor loans-which include mine. I was instead offered a Deed in Lieu as a way to avoid foreclosure. This is the nail in the coffin as a Deed in Lieu can not be accommodated for my property, I have a 2nd mortgage, XXXX Arrears and a Judgment that all require contributions from a buyer to release their liens. A Deed in Lieu will not provide that as this process involves me just signing over the property to Caliber free of any other encumbrances that I can not remove unless a buyer pays for them in escrow. Now I am stuck with no other option but to foreclose and Caliber has taken the position to not offer the new buyer a review of the contract we recently accepted. As much as I would like to avoid foreclosure I am unable to do that based off this recent decision. Caliber even offered me an incentive of XXXX to do a Deed in Lieu but I was only offered XXXX with a short sale. Caliber is just holding another carrot on a string in front of me as they are aware of the matters currently affecting the title of my home and have knowingly offered me a program that I could not follow through with. It just seems unfair after all of the efforts I have put into trying to sell this home, we finally found a buyer willing to take this property as-is. I dont know where else to turn to, my searches indicate that I am not the only person facing this problem with Caliber and I foresee many more people falling into an unnecessary foreclosure at Caliber 's hands.