Consumer complaint received 2018-01-18
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Seterus, Inc. (IL)

This has been a disaster for me. From my point of view there are many different companies, people, agencies and financial companies involved but my problem began when XXXX XXXX XXXXXXXX took over my mortgage in XX/XX/XXXX. This mortgage was for my home where I had lived since the early XX/XX/XXXXs. I had NEVER made a late payment. I refinanced after my mother XXXX and arranged for my payments to be taken out of my account every other week. I did n't realize it at the time but at the time my " prime '' mortgage had been exchanged for a subprime mortgage. 

When this happened the mortgage had been sold several times until finally it wound up the hands of XXXX XXXX XXXXXXXX. And this is where my nightmare began. 

At first XXXX was accepting my payments and and then : I received a notice from XXXX XXXX XXXX XXXX ( XXXX ). This was a debt collection agency. I was stunned. In my entire adult life I had NEVER been late with a payment for anything. I called XXXX about this. I was told that they did n't accept bi-weekly payments ( although they did take the money from my account ... it just was n't credited to the account ). 

The solution? Refinance again. At great expense to me and another 30 year mortgage for a home I had lived in for 25 years. I was n't sure what to do. This was a strange experience for me. I figured if I paid a bill the creditor would apply the payment to my account. XXXX  obviously had other ideas. 

I told my problems to a few people. Finally I decided XXXX was a big company and so was a XXXX. I thought that this was probably a clerical error and would eventually work its way out. The nightmare got worse. 

I did refinance. I knew that every time my mortgage switched companies there was money to be made for someone. That was okay with me as long as my payments were being properly applied. But when XXXX and XXXX started to " handle '' my mortgage this was n't happening. And I 'm not even sure if any other reps I talked with at XXXX even knew where they worked or what they were doing. 

My mortgage payments were about 4 times as much as they were originally. And when I tried to contact XXXX they suggested I refinance again. I was paying and paying and paying money. Somewhere along the line XXXX changed to the name of Seterus. 

Foreclosure was threatend. I called a lawyer. He suggested I file for bankruptcy. 
I was stunned. I had never not paid a bill in my entire life. But when XXXX, XXXX, Seterus or whatever it 's called right now I was in a corner. I had used my savings, I had use my retirement funds, I liquidated all my investments. I had to file for bankruptcy because I had no money because my on time payments ( actually I was a little ahead of the payment schedule ) was n't good enough for XXXX. 

I thought I would settle this the right way by contacting XXXX directly. I had done this more than once. Last XX/XX/XXXX I received a phone call from XXXX XXXX 's office at XXXX XXXX XXXXXXXX. I was told that XXXX had every right to sell my ON TIME mortgage to a debt collection agency. 

It was then that I realized that this was n't a clerical error. I told the rep I had made every effort to pay ( and pay and pay and pay until I had nothing else ). 
I had used every one of my financial assets to save my home. To no avail. 
For some reason my 950 square foot post XXXX XXXX XXXX track house almost directly underneath XXXX 'XXXX XXXX airport where I had lived for over 25 years was a huge financial asset to XXXX, Seturus and the real estate company that sold my home. So what happened ... in mid-XX/XX/XXXX, almost 30 years to the day I was evicted from my home. I had not only lost everything the stellar credit rating I had before XXXX sold my mortgage was in the gutter. This caused even more problems. 

I did n't mean to yell, scream and cry and when the rep from XXXX  called me and told me that they had every right to sell my on time mortgage to Seterus ( or any place else ) and there was nothing I could do. But she was very very sorry that I lost my home, my savings, my retirement accounts and any investment I might have had. Really.