Consumer complaint received 2023-02-23
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — 
Company: Shellpoint Partners, LLC (NV)

On XX/XX/2022 we decided to put our home on the market due to having issues with my job, so I took a job in another state and me and my family picked up and moved away. On XX/XX/XXXX we received an offer for asking price which was well over what we owed on our home, we owed approximately at the time {$430000.00} and we got an offer for {$460000.00} on the home a few weeks later we got the appraisal back on the home and the home came in around {$430000.00}, we panicked when we realized we would not be able to cover closing costs to sell the home at this point we were already one month behind on our loan I hopes we would close on time so we had already been in contact with the lender which is Shellpoint New Rez to arrange a payment plan to help avoid Missed payments on the loan. After realizing we could not close on time due to the home appraisal, coming in too low, we went back-and-forth with the lender for what seem to be weeks trying to figure out how to close on the house to avoid any more missed payments and we were told that doing an assumption would be our best route, after being told that a short sale could not be done this early in missed payments because it is not really conventional to do a short sale unless you are at least four months behind on your loan, so we chose to try to go for a assumption, we went through a process of trying to get an assumption approved for over a month and it seemed like no one ever knew how to help us when I called the lender and I continued to get transferred to new people in different departments, and no one could ever figure out what to do about my assumption so after realizing that we kept missing our deadline to close on the house and having to extend the deadline on closing at least three times at this point. I called the VA and asked them what to do because I was running out of time as we kept messing payments on the loan. The VA told me assumptions arent very common and it probably wont get approved unless we bring the loan payment current since we were behind on the loan payment three months. I called the lender once again and spoke to someone new once again because I could never talk to one person this lady told me that yes, the loan needed to be current in order for the assumption department to even consider doing an assumption on the loan but for the last four or five weeks, no one told me this, and I had just assumed that the assumption was getting approved since the loan was at a loss mitigation level since it was three months behind it wasnt even being considered for an assumption, but no one could tell me that because no one knew, and at the time I had a point of contact that never reached out to me or contacted me so I didnt have one resource to reach out to just a bunch of random people that would answer my phone call And tell me a bunch of XXXX so after realizing the assumption was not going through, and the VA told me a short sale would probably be the better route to take. I got the buyer to agree with a short sale after him already waiting three months to figure out if he was going to be able to buy our home, thankfully he agreed to the short sale so we presented the lender with a short sale package and sent them all the documentation that they needed, well weeks have gone by and we still are having issues contacting the point of contact on the loan which is named XXXX XXXX in the loss mitigation department. I have spent hours trying to get through to this company trying to figure out how to sell our home without reaching a foreclosure status I have called and called. I have emailed and emailed I have complained on the website trying to figure out how to avoid foreclosure, me and my wife are decent people. We have served our country for the last 15 years in the XXXX. All we were trying to do was move to a different state to take a job so that we could feed our children and afford to live. I am lost. I dont know what to do. The Lender does not care about us and it just seems like all they care about is the money we cant afford to pay our mortgage anymore because we had to move to a different state and pay for new housing. Weve had a buyer that has been interested and desperate to buy our home since XX/XX/XXXX and he has been loyal to us but the problem is unless the house appraises we are kind of screwed, and our last option is the short sale. We have already seen two reported missed payments hit my credit report. If I foreclose on this home, I will lose my security clearance and I will lose my job. I am trying desperately to work with this Lender, but it doesnt seem like they want to work with me. I have been desperately reaching out to them since XXXX trying to figure out the best avenue to repay my loan the short sale isnt far off from what I owe as the lender would receive roughly {$400000.00} of the loan after commissions are paid. Please help me please do what you can to help me figure out how to deal with us. This is the worst lender I have ever dealt with. Im begging you..