Consumer complaint received 2021-05-17
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — 
Company: Real Time Group, Inc. (CA)

I had an extremely predatory ( HELOC ) second mortgage 14 years ago that Real Time Resolutions , Inc. ( RTR ) is now attempting collect. I have spent the last year attempting to get their agents to work with me, but can not seem to get any positive results. I have made several attempts to cut through the red tape with no luck at all. I was not even designated a single point of contact until last week. I am now facing foreclosure, and need your offices help to resolve my current mortgage crisis. 

I have sent Real Time Resolutions an official ( QWR ) Qualified Written Request as it pertains to the the accounting of any and all payments received by the firm they represent. I also sent a Request For Production Of Documents of any and all loan origination documentation, XXXX loan application and loan disclosures bearing my signature, any and all assignments, service transfers and change of beneficiaries including but not limited to those recorded through ( MERS ) Mortgage Electronic Registration Service data base related to the subject property. I refuse to lose my home in this way! A NOTICE OF DEFAULT WAS FILED ON XX/XX/XXXX. 

On XX/XX/XXXX, during a telephone conversation with RTR agent, XXXX XXXX XXXX, she stated that XXXX was the part of the loan origination process then retracted her statement stating that they, XXXXXXXX XXXX  was NOT in any way part of the loan origination process or the loan at all. Her statement is absolutely false! The HELOC originated by XXXXXXXX XXXXe was predatory lending at its best. The original loan amount was {$57000.00}. RTR is now attempting to collect approximately {$97000.00}. I contacted RTR and requested that the XXXX  be rescinded to offer me the opportunity to secure a cash-out refinance of my first mortgage, which would afford me the ability to negotiate a settlement for a lessor amountmy request was denied. Real Time Resolutions and its agents would rather put a senior citizen out of her home and into the streets during a world pandemic. This is unacceptable and I refused to lose my home! 

In XXXX, I acquired my home by signing a purchase money loan originated with XXXX XXXX I also acquired a HELOC with XXXX. I tendered our mortgage payments on time, as agreed. However, in XXXX, I lost the tenants who occupied the second unit due to non-payment. I have struggled to re-rent the unit with short term tenants off and on for approximately 14 months. I have done the best I could to keep up with the first mortgage payments, going as far as depleting my savings and reserves, but eventually fell behind on my home loan and have currently been moved into forbearance. And to compound matters I lost my spouse in XXXX resulting with me losing approximately 50 % of my household income. 

There is substantial evidence that XXXX XXXX, the mortgage originators of my HELOC, routinely disregarded their own guidelines and granted exceptions without proper justification. Moreover, XXXX agents knew, or in the exercise of due diligence should have known, that numerous statements contained in the loan origination documents with regard to the efficacy of the underwriting guidelines and the processes used to XXXX exceptions had no reasonable basis. Consequently, the statements in and omissions within the loan application and origination documents regarding the subject mortgage originators ' underwriting guidelines rendered the documents materially false and misleading. 

Additionally, XXXXnt XXXXXXXX LTV ( Loan-To-Value ) ratios were based on appraisals that were inflated as a result of conflicts of interest and inappropriate influence by the mortgage originators who sought to ensure that the appraisals came back at a high enough level to support the loan amount. But the severe flaws in the appraisal process were not disclosed in the loan origination documents. Consequently, the statements in and omissions within the loan origination documents regarding the LTV ratios and appraisal standards rendered the loan origination documents materially false and misleading. Therefore, based on the foregoing, pending the outcome of my investigation and any evidence XXXX presents as a result of my QWR Qualified Written Request, I may have no choice but to consider filing a Quite Title cause of action or Bankruptcy in an attempt to have the lien stripped. 

XXXX XXXX XXXX agents only offer to retain my home is for me to tender a lump sum payment to cover the arrears and principle balance of approximately {$97000.00}. I have offered to refinance my property and negotiate a settlement. No conventional lender will entertain a refinance with a NOD ( Notice Of Default ) recorded on title. XXXX XXXX was asked to rescind the NOD to allow me to execute a refinance to which she responded saying ; It would NOT be possible to rescind the NOD. That leaves the option of a hard money lender which would be very expensive and certainly not be economically sound. No other home-retention options have been offered, and no review of my CURRENT financial circumstances has been opened or discussed.