Consumer complaint received 2020-03-25
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: United Shore Financial Services, LLC (CA)

Hi, I'm writing in regard to my experience with United Wholesale Mortgage I was put on forbearance for my job, Due to corona virus. I looked online listened to some shows and what government officials advised that I do in this situation. One clear thing they said was that I should contact my lender and try to work it out. So I did this or tried to. The first issue I encountered was that they were not really accepting phone calls in regard to the Corona virus, which since it's a pretty unique situation leaves a lot of questions unanswered. So I went online and filled out the form they wanted. It became clear to me based on the lack of information they wanted for the form that it seemed a dead end. Since to me, if they were really going to take into consideration my situation and find a solution and make a plan they would need to ask for more information then what they were asking for. After That I looked at what they seemed to be saying they might offer. To me what they were offering to help was not help at all and actually seems dangerous, that anyone who did what they said would not be solving the problem but pushing it down the line only to end up with a much bigger problem ... They wanted to put everyone who applies on a 90 forbearance. And at the end of the forbearance they would have to pay the 3 months all at once. There was no mention of fees or interest and how that would work, which I think there should be since 3 months of interest tacked on can dramatically increase the amount you owe after 90 days and if people are not aware of that they may be getting a pretty bad deal.

Here 's why I think this is a dangerous practice. 1. It doesn't solve the problem, if someone can't pay monthly then when 3 months rolls around how are they going to pay this giant lump some. If this happens to a bunch of people then all its going to lead to is a bunch of foreclosures. 2. This doesn't allow someone to actually plan, If I don't know how much I'm going owe, then Its hard to responsibly plan to make sure I pay. My bank is basically saying well see in 3 months. And Asking for the money in 3 months instead of month to month doesn't help or solve any problems since the problem isn't my willingness to pay. It's basically making it look like they helped without really helping since there is no difference paying month to month for three months or paying one giant lump some 3 months from now ... ..3. they do not mention that how the interest will work or will accrue. It seems like all that would happen is that in 3 months I would have a giant bill and have to pray that my bank helps me out instead of the bank working with me now to solve the problem. 
I suppose what I'm saying is that : Everyone keeps saying call your bank make sure to communicate with them, but I feel like my bank is refusing to communicate me or work out options with me. I'm trying to be responsible and make a plans now before I get into any trouble and I feel like if I'm having an issue I'm supposed to call my Bank, but what do I do when the bank has created a policy that gives me only 1 option and that option seems to be irresponsible, dangerous, balloons costs, doesn't allow me to plan and creates more uncertainty then is solves? What do I do when my bank has cut of all sensible and reasonable  communication and replaced it with robotic responses and only repeats the same thing? How many people are going to take the forbearance and then get foreclosed on because they have this balloon payment come do in 90 days?

I've heard the word Sacrifice, over and over again. That we need to work together, I have Sacrificed a lot, my job, my social life, and it seems more everyday but why should I have to sacrifice my house. Where is the sacrifice on their part? It seems they are creating a way to not only not help but profit off the people they do help by collecting a bunch more interest. Where is their effort to really work together with people during this time? I'm sure if the banks end up in trouble, which they will, they are going to want help too, I doubt if we offered them the same forbearance they would find that acceptable, and its going to be us that pays to solve there problems. To say that they don't have a responsibility to come to the table and to work with people and create real solutions that don't create bigger problems then they solve ignores the fact that its us that have to pay to save them in there times of need and that they have made us responsible for them. 

I don't think they will do anything unless someone steps in a makes them see their responsibility here. I believe your agency was created to protect consumers during this time. And specifically created to help prevent the nation from walking into foreclosure due to banks looking after there own self interest above the greater good in times of crisis.. Hopefully you can help. 

Thank You.