Consumer complaint received 05-03-2016 about Mortgage (Conventional fixed mortgage) with loanDepot.com, LLC (CA).
Issue: Loan modification,collection,foreclosure

Complaint: Loan Depot used predatory lending practices when dealing with us. For the last year we have been trying to work something out with our loan. I had been XXXX and we desperately needed to refinance our home for extremely needed home repairs. The loan officer who came to our house steered us into getting a refinance and taking out an extra {$5000.00} for the repairs. He told us it was a golden opportunity. He did n't bother to tell us that it would not be paid off even close to my husbands retirement. He pretty much did everything and anything to sell us on this idea. So we did it. We got our home of 30 years repaired. Then with my medication and all the other bills plus our {$850.00} monthly mortgage soon got to be way more than we could handle. Loan Depot declined us twice for the HAMP program. For two completely different reasons. Then even after we were told that our home was safe until at lease XXXX XXXX. We were notified on XXXX/XXXX/XXXX that our home had been sold via a trustee sale that day. We had just submitted ( again ) the paperwork for a modification. We were still in active review. We were mortified and horrified. Our home was sold while we were still trying to get some sort of actual loan modification that would keep us in our home. Loan Depot, after working with us for over a year had only offered us a reduction of only {$40.00} off of our mortgage. With our mortgage taking almost half of my husband 's income every month. We just could n't do it. A forty dollar reduction in a mortgage payment that large was absolutely no help at all for us. Then to top it off as an additional slap in the face we received a loan statement ( demand for payment ) on XXXX/XXXX/XXXX. I was outraged and we are utterly lost on what to do. What were we supposed to do with that? Especially because our home had already been sold before we ever even got it. They sell our home and demand payment after doing so. Ridiculous! I have enclosed the document and the envelope it came in. I have marked on it the day it was received. I am pretty sure that they did n't even mail it until the sale was already final. We were getting ready to file a b/k to lock up the property for at least 5 years and file a big suit against our lender for everything they put us through from the time we refinanced until the current time. They were made aware of both of these facts. Then with no warning our home was gone. How long do we have before we can file a huge lawsuit against them for basically stealing our home. They have lied, cheated and misrepresented since the refinance. Walking all over the laws and us. What they have done to us is illegal, immoral, sneaky and just plain bad business. I 'm sure we should have some legal recourse for them stealing our home. But I felt that we should report it here first. Maybe they are willing to void the sale or do something to remedy this situation. 
The first time they denied us the HAMP it was on the grounds that we had purchased the home within the last few years. When we showed them the deed that we had owned the home since XXXX, they just came up with more excuses and no help at all. 
Also we had equity built up in the home and they did n't even offer to do anything for us that would work with the equity. They have trashed our credit over this. Therefor we are even able to think about buying another home. Not to mention all the ramifications of the illegal sale of our property. 

XXXX and XXXX XXXX XXXX/XXXX/XXXX loan # XXXX phone XXXX I do n't know how to attach the bill we received on XXXX/XXXX/XXXX demanding payment by XXXX/XXXX/XXXX. But if you will tell me how, I would love to send it. I do n't know how we were supposed to pay by XXXX/XXXX/XXXX on a property that had already been sold at auction on XXXX/XXXX/XXXX. I also do n't know how the sale was allowed to proceed when we were trying to work something out with them.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation