Consumer complaint received 2017-09-13
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Selene Finance LP (NJ)

I have a government backed GSE Mortgage loan that is currently serviced by Selene Finance. Selene Finance has engaged in a pattern of systemic and serial obstruction of all attempts by me to be considered for mortgage modification or payment relief. I currently have an interest rate of 8.5 % and my monthly payment on a {$370000.00} loan is over {$4000.00} per month. I am a XXXX XXXX XXXX XXXX and my wife works as well. Although my business had a rocky period when the real estate and mortgage bubble burst, I am making a solid living now and between my wife and I we have the income to make a fair mortgage payment. The issue is not qualifying for help, the issue is being given the opportunity to receive help, because we have never actually gotten Selene Finance to conduct a review of our current and correct financial information. I know there are new programs offered for homeowners with GSE XXXX XXXX and XXXX XXXX loans and dont understand why Selene Finance continually changes contacts, loses paperwork and requests the same information over and over. This pattern began with XXXX and then continued when the loan went to XXXX and we are seeing the pattern repeated by Selene Finance.  They have now set a foreclosure sale date on our home we have owned for 16 years on XX/XX/XXXX. Selene Finance did so without ever offering the option of mediation through the state of New Jersey, even though this is mandated by state law. 

I have worked in and XXXX XXXX XXXX XXXX XXXX for over 20 years and have owned the subject property for 16 years. Shortly after refinancing my home in XX/XX/XXXX the real estate market crashed and the bubble burst and took the air out of my business. I lost over half of my contracts and it was a struggle just to keep the business going. I lived off my savings for a time, but eventually fell behind on all bills and began missing my mortgage payment. At that time, I began trying to engage with XXXX to resolve this issue with a loan modification. It seemed like XXXX was purposely obstructing the process, constantly requesting the same documents over and over, then misplacing or losing documents that they claimed they had received. This continued and I began falling further behind on the loan. I continued to try and work this out but it was beyond frustrating and I must have sent over 5000 pieces of paper to XXXX yet could never actually get a decision on my application. When it finally seemed that I was making some headway the loan got transferred to XXXX. I ran into the same problem there. I am XXXX and provided all my financial information but repeatedly got spun in circles by XXXX and never actually was reviewed for any programs nor was a decision rendered. Just when it seemed that I was making some progress my loan got transferred to Selene Finance, and the obstruction has continued. 

As described, I am doing well with my XXXX XXXX and make a solid living. My wife works as well and with our combined incomes we can definitely afford a reasonable payment. My wife and I have been here for 16 years and live here with our XXXX boys, all age XXXX and younger. Losing our house to foreclosure is not an option. Selene Finance needs to play fair and give us a chance to be considered for all available government, state and internal programs as well as the new GSE programs that were introduced in XX/XX/XXXX. I know there is a way to fix this, the issue is that we have been blocked and obstructed every step of the way for several years. I am hoping that Selene Finance will begin working with us, rather than against us so we can find a workable resolution.