Consumer complaint received 2017-07-05
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Fay Servicing, LLC (TX)

I am working to obtain a re-review of my modification request. I was offered a trial payment plan and required to come up with a {$7000.00} good faith payment. My mortgage amount was not adjusted down, due to my reduced income, but rather it went up. I am being kept in the dark about how the good faith payment was determined, and why I am being required to submit this. I have followed all of Fay 's  requests to send documents, but they are not being transparent with me on all items. <P/>Previously, I qualified and made all payments under the HAMP program, but when I got to the end of the trial period, Fay mysteriously changed my account manager, and I was never sent my final documents to sign. My trial period ended in XX/XX/XXXX, but Fay stated they mailed my documents almost 90 days later, XX/XX/XXXX. These documents were never received by me at my home. They have a record of XXXX  delivering something, but nothing was ever left at my home. When I asked them to please reinstate my HAMP modification and to work with me as consumer, they told me they would not, because the program was over, when in fact it is not, since I was already grandfathered in. They have only been focused on foreclosing on my home. Fay has denied me and my HAMP modification, along with being able to make those payments which I can afford at about {$800.00} per month. Fay has provided no written acknowledgement regarding my HAMP re-instate to this date. <P/>Fay Servicing reviewed my modification that I submitted at the same time I was asking for re-instate of my HAMP and then came back with the terms I referenced above, which they know that I can not meet. If I cant meet these terms, they are going to take my home. I have lived in my home for 16 years, I am a single parent and I have XXXX children. My plan is to keep my home, as we do not have anywhere to go and we can not live on the streets or in a shelter. I have worked extremely hard for my home, and have pleaded with them to please not force me out of my home by making it difficult to make my payments. <P/>I shared in a note to them that per my review and counsel, the current trial period terms are not a modification of my loan but rather appear to be repayment or forbearance schedule. I respectfully requested to be approved for one of the many programs they currently have to assist borrowers who are working to make payments and keep their homes. They have not responded nor have they provided all of the programs that I qualify for as of this date. <P/>I have incurred all kinds of foreclosure fees that I do not feel are right for me to pay and I would like those fees removed from my balance. I have requested what these fees are and Fay Servicing has not responded to this request as of this date. <P/>I am wanting to stay in my home, but it appears that they are trying to make it so difficult for me, so I will lose my home. <P/>Here are the items I requested in all fairness of Fay Servicing. This is directly from the letter i wrote to their appeals department : I have provided numerous documents, and my income currently does not support a monthly payment of {$1000.00}. I am respectfully requesting a re-review my income and my expenses. This is the amount I was previously paying before I requested this modification, hence the reason for asking for assistance. <P/>I respectfully request that my application be reviewed to offer me the following terms as part of a true loan modification so that I can afford my monthly payment : MODIFICATION TERMS REQUESTED : 1. My loan is a 30 year loan. By all guidelines, I qualify for a reduction in my current interest rate down to 2 %. My current interest rate on the loan is XXXX and your repayment plan offers no assistance to me. I am asking for your approval of this request. <P/><P/>2. Please obtain my current appraisal value and please offer to dissolve my delinquent balance. This is a critical item and I am asking for any sale date on my home to be permanently cancelled while we work on this piece. <P/>3. Please extend my loan to 40 years. Per guidelines, I understand that this can be done and offered to me immediately. <P/>4. Please cancel any good faith payment, as I am unable to afford any lump sum of this amount. Please provide the breakdown of how this amount was determined and why. I am working to save my home and it seems again extremely unfair and a predatory practice to require me to make this type of payment. I am not going anywhere nor I am planning to sell my home, so my good faith is exhibited in all of my efforts to be transparent and work to obtain a monthly rate that works for current income. When my income was higher and I had two incomes in my home, I could afford a {$1000.00} month payment. I can not do this at this time. <P/>5. My daughter leaves for college in just 4 weeks, as of XX/XX/XXXX. I am responsible for getting my daughter to college and I have no help in this area. I am asking for your mercy in requiring me to make any type of good faith payment of this amount. Any funds I have saved up will go towards helping to get her to college and provide for her books and necessities. I also will have to send money to her monthly and have included this as an expense for review. <P/>6. I do not have any additional monies put up anywhere. If I had them, I would not be literally begging you to reduce my monthly note to help me stay in my home. I am asking from the bottom of my heart, please please re-review my new application against my monthly income from my job and the other expenses that I have submitted.