Consumer complaint received 2018-05-12
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: FIRST HORIZON BANK - WEST CONGRESS STREET BRANCH (NJ)

The missed payments all started when I got laid off from my job in late XX/XX/XXXX, due to an outsourcing of my duties, and I immediately did whatever I could to find a new job. Pretty soon I was no longer able to make the payments on the mortgage. I even volunteered for months to help others with the XXXX XXXX job search group at the XXXX   every week to find work. At this time my wife was working part time as a XXXX XXXX XXXX which was obviously not enough to keep the payments current.

We asked the owner of the mortgage at the time, XXXX, if we could apply for a modification and they told us they would not accept it. Since we have rental properties where we were behind in payments and were able to modify all 3 mortgages for them we thought as an owner occupied property, we would have at least as good of a chance at a modification on our home. This seemed strange but we just kept trying to find employment first since that was critical.

We thought at this point in order to have a chance we would both need to find full time work, even though my wife was a XXXX XXXX XXXX XXXX and had raised our XXXX children in XXXX  she would do what she could to find a job. We contacted a state sponsored program for NJ Homesaver that we were told was a grant that could help us and just as we applied, the program was changed and the church in XXXX XXXX, XXXX  said they couldnt help us with that program any longer.

Unfortunately the job search wasnt working in XXXX XXXX. Since my wife has family in the XXXX XXXX, XXXX  area we began looking there and we both found full time jobs, so in XX/XX/XXXX we moved in with family and started in our new jobs. Sadly, a week after I started in my role, XX/XX/XXXX, the president and founder of the XXXX XXXX XXXX I was working for was tragically killed in a plane crash in XXXX. Which put the company on a bad financial path right from my start. Therefore, by XX/XX/XXXX, the XXXX XXXX could not make payroll any longer and I lost my job again. Right around this time we were notified that the mortgage was sold to Iberia and in XXXX I contacted them to ask about a modification.

At this point I would need a job to apply for the modification and went looking for work again and was offered a job in XXXX  in which they would train me and I took it even though the job was outside of my field, I thought it might work out. Even though it didnt work out it eventually lead me through a friend I made at a volunteer organization, The XXXX XXXX XXXX in XXXX, to a good XXXX XXXX which is in my field. Then I contacted the new owner of the mortgage Iberia about a modification, now thinking we had the requirements for a modification. They agreed to accept a modification and sent us the modification application and now there was hope. Now that I finally had a stable job and the mortgage was sold to Iberia Bank we had a chance. Also, with both my wife and I working full time, we thought our chances were good at a modification.

At this point we had an extension on our XX/XX/XXXX taxes and had to finish them for the modification. We focused on this with our accountant in XXXX XXXX but the process dragged out and we missed the XX/XX/XXXX deadline to file electronically and we had to submit by paper. This, I didnt realize, would delay the process drastically to get the IRS to be able to confirm to the bank that the return was submitted.

On XX/XX/XXXX, I called Iberia to check in about the status of the foreclosure and they confirmed by phone that a date had not been set. Little did I realize, my daughter misunderstood the paperwork that was posted at the house on XX/XX/XXXX. We believe there was confusion over the notice about tenancy and we didnt realize about the sheriff sale, and didnt act. That was an error I feel horrible about.

Not knowing about this we then received paperwork from a lawyer saying we had to pay rent or vacate the premises. The letter was dated XX/XX/XXXX and the rent was due XX/XX/XXXX. The letter was postmarked XX/XX/XXXX. It also said our lease was terminated and we had to vacate the premises no later than XX/XX/XXXX. Then we were mailed a tenancy summons to appear in court on XX/XX/XXXX, as part of the eviction process.

At this moment we called Iberia again because the letter seemed strange. When I called them I, again, asked about the foreclosure and at first the woman said there was no date set. Then after about 10 minutes of confusion she said there was a sale on XX/XX/XXXX. I was very surprised since just a few weeks before the sale date I had spoke to them where they confirmed my number as they did on every call and told me there was no date set. We didnt get any real chance to work with Iberia as they had lead us to believe that we could and didnt even have the chance to make our case.

At this point in time I just want the chance to have an agreement to resume making payments on the house where we have lived for almost 20 years, raised our XXXX daughters, and thought it would be there to be sending off our oldest daughter for her wedding this XX/XX/XXXX.