Consumer complaint received 2018-07-31
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: CARRINGTON MORTGAGE SERVICES, LLC (FL)

My problems with my mortgage lender has been ongoing for several years. It started when XXXX   XXXX misled me at origination and coerced me into a negative amortization loan and then continued through XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX and now Carrington. I feel that I am not getting a fair shake and not getting access to the federal, state and internal homeowner assistance programs that exist for people in my situation. As a result of this predatory loan and my business being crushed by the recession as well as hurricane damage I am way behind on my mortgage. I have tried many times to get reviewed for homeowner assistance programs but get conflicting information from my mortgage company and indifference. Carrington took over the loan a couple of months ago and it seems to be more of the same. I have had a good job for several years now and have recovered financially. This is a situation that could be resolved if Carrington were to fairly negotiate with me. I have been in my home for 25 years and don't want to lose it, but feel it slipping away because the lender will not even give me a chance. 

In XX/XX/XXXX I had to deal with a major fire that damaged my home, and slowly rebuilt everything with the help of a construction loan. In XX/XX/XXXX the agents from XXXX XXXX ( predatory subprime lender who went out of business ) convinced me that as a XXXX XXXX XXXX XXXX that a pick a pay loan was the way to go. I had no idea how this loan worked, nor the fact of how quickly and high the rate and payment could adjust as well as the actual balance increasing due to the negative amortization feature. Like many Americans, the recession hit me hard and my XXXX business struggled and eventually had to shut down. I was able to keep up with my financial obligations for the next couple of years because of my savings but once that was gone I was in a tough situation. I applied for help with XXXX XXXX XXXX XXXX ( who now held my loan ) and they did offer me a modification, however, the monthly payment was not even close to affordable based on my income at the time so this did me no good. My loan was then transferred to XXXX and I spent the better part of the next year chasing documents with them and never got anywhere. The loan was then transferred to XXXX XXXX. By this time I was gainfully employed as a XXXX at an event planning company and was in a position to afford a fair payment. I applied for help through XXXX XXXX, but it was an abyss -- transferred from department to department, the right hand not knowing what the left hand is doing etc. Eventually I got into review and they told me that my application was denied because XXXX XXXX claimed they had made me a modification offer a few months prior and that I did not accept it -- so I was told that was the reason for the denial. How can I accept an offer I don't even know about??? It makes no sense. I did everything I could to try and get XXXX to reconsider and work with me based on the current financial situation but could not make any headway. The situation was made worse by damage to the property and especially the roof from the hurricane. XXXX XXXX was trying to claim some hugely inflated value without taking into consideration the damage. 

I am sitting here with a good job and the means to make a fair mortgage payment. XXXX and XXXX were both terrible partners to work with, and despite my best efforts I still have no resolution. Based on my initial contact with Carrington it seems they are just as bad as these companies if not worse. I know that I am entitled to be reviewed and considered for federal, state and internal modification programs and I need them to work with me. All I want is an affordable modification so I can resolve this matter and pay on my debt. The situation is exacerbated by the predatory nature of the toxic loan that I am in.