Consumer complaint received 2024-09-13
Product: Mortgage — Conventional home 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: Onity Group Inc. (CO)

I am facing a XXXX  sale date on XX/XX/XXXX for my home that has been in my family for XXXX plus years. This is an avoidable XXXX, I have had a significant change in financial circumstances and have been trying for close to one year to get reviewed for modification assistance but have run into roadblocks and obstruction and was told that due to incorrect calculations I could not qualify for help. I believe that XXXX XXXX has made significant errors in their review of my financial information and have denied access to programs that I should be considered for such as traditional loan modification, forbearance, principal deferment as well as streamlined modification. XXXX XXXX has limited the review to XXXX program based on incorrect and outdated information. My husband and I bought this house from my mother in XXXX, but my grandparents built it back in the XXXX and we should not be in this position where we lose the home that has been in our family for XXXX  years. 

We paid our mortgage as agreed for over XXXX  years. Our problems began in XXXX when my husbands XXXX became more aggressive and he was no longer able to care for himself. I had to take a leave of absence from my job to care for him until he passed. This was very difficult after XXXX  years of marriage to deal with. When I was ready to go back to work XXXX had basically shut down the XXXX  shop I managed and was in a very difficult financial position. At that time I was able to get XXXX XXXX  to work with me on a XXXX  forbearance so that I could survive the XXXX. 

I resumed making my regular payments but in the fall of 2023 had major plumbing disaster at the house that required a large out of pocket payment to repair in conjunction with an increase in the escrow account and it put me into a position where I had problems making my payment and defaulted in XXXX  2023. I immediately applied for loss mitigation assistance and a review was initiated. I was told that I was denied in XXXX 2024 due to negative NPV. I saw the property value was off, only one program was considered, and in the value for proposed forbearance or deferred balance the amount was XXXX. The investor on this loan is XXXX XXXX and the loan was originally part of a tranche bundled through XXXX XXXX, a notorious and unscrupulous subprime lender. I know that there are more options than the streamline loan modification that can be considered and that many loans in this mortgage backed security defaulted and that there are multiple modification option and that forbearance can be offered in order to make the calculations work, and the inflated appraised value matters. 

I appealed the value and was told by XXXX XXXX that value is not a significant factor and that they had hired someone to do a drive by evaluation. They told me if I disputed the value ( even though I provided them with tax data and comparable sales ) that I could pay for my own full appraisal and then XXXX XXXX would only charge me an extra {$65.00} for the home that has been in my family for XXXX  years. 

I applied again and was denied due to negative npv in XXXX  2024. This essentially means that the investor makes more profit by XXXX  on my home instead of offering homeowner assistance options. The most recent letter from XXXX XXXX states that I have tried too many times and that they are not going to even look at my financial information until I get caught up on my loan. This is complicated by the fact that the reinstatement figures that have been provided by XXXX XXXX differ from the law firm that they hired to conduct the XXXX. The communication from XXXX XXXX leads me to believe that if I can come up with this specific amount of {$18000.00} and an additional $ XXXX in legal fees that I can stop the XXXX  sale on XXXX XXXX. Then I receive a notification from the law firm with a significantly different number, leading me to believe there may be something shady going on here with XXXX XXXX