Consumer complaint received 2021-07-12
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Fay Servicing, LLC (NJ)

XXXX XXXX sold our XXXX XXXX loan to XXXX XXXX XX/XX/XXXX. The Covid Crisis severely effected us and we are XXXX XXXX. The property was put into forebearance. We understood the forebearance would be put on the back end of the loan. XX/XX/XXXX XXXX sold the mortgage again. The new mortgage holder is called XXXX XXXX  XXXX XXXX XXXX/ XXXX XXXX XXXX using Fay Servicing. Apparently they have no intentions of honoring the terms agreed upon with XXXX XXXX not sure how that is even legal. Not sure how they are proceeding outside the federal protections that we the consumers were counting on. The month of XXXX we were presented with an intent to foreclose if the full payment of the forebearance wasnt met to Fay Servicing. We were not given any options of modifications, the lump some on the rear of the loan as which was supposed to happen with XXXX. It is just intent to foreclose if the payment was not made in full. It is odd one that the new company did not purchase a mortgage with our forebearance on the end as was understood ; it is also odd to be given only the option of foreclosure or payment in full. Since we can not pay in full of the months of forebearance payment we asked for additional forebearance /moratorium in order to sell the property to try to satisfy the terms of this loan in full. 1 email/ 3 certified letters/ 1 phone call were made to Fay Servicing between XXXX XXXX. Fay servicing was not helpful and did not correspond to any of our concerns such as why their was a payment in full and no Other options offered. We were told our mortgage lending manager would be in touch on XX/XX/XXXX within 72 hours by phone but no call came from XXXX XXXX. Not sure why we did not hear from XXXX XXXX prior to a intent time foreclose while we believed we were still in the forebearance XXXX had granted. They claimed that in the mortgage transfer they did not receive contact information. anyway we asked for additional time to sell the property to satisfy their demands and avoid foreclose. No response. The property is listed with a realtor and is being shown. However today XX/XX/XXXX I have received certified mail that I am being sued by this XXXX XXXX  XXXX XXXX XXXX not in its individual capacity but solely as owner trustee for XXXX XXXX XXXX. I dont know how my XXXX XXXX loan could be sold twice and the federal safe guards for my Covid hardships be circumvented by the sale of the loan multiple times. This seems like very fraudulent business practices. That one XXXX XXXX  never put the back payments on the rear of the loan then Fay Servicing sending an intent to foreclose for those payments upon receipt of the loan they bought in XX/XX/XXXX while my loan was still in forebearance. And instead of options I was served an intent to foreclose. I am in good faith selling the property knowing I can not meet their demands of a year worth of payments and again instead of giving me options this new company had sent an intent to foreclose and has ignored my correspondence that I have listed the property for sale. Now on this date XX/XX/XXXX I Am in reciept of a letter from the law firm debt collector - XXXX XXXX  XXXX so that instead of giving time to sell the property we will be sued for the full amount of the loanI am hoping there is help and consumer protection in a case like this as my XXXX XXXX loan has been bounced from one servicer to another. This seems to fraudulent and not fair debt practices.