Consumer complaint received 2026-01-09 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: PENNYMAC LOAN SERVICES, LLC.
State: AR

Complaint narrative:
Due to a sudden change in life, we immediately put our home on the market ( XX/XX/XXXX ) because we knew eventually we wouldn't be able to afford it. That time came sooner that we expected, and our home didn't sell before we were unable to keep up. We discussed with Pennymac 's Loss Mitigation ( lender ) and XXXX  ( XXXX ) about acquiring a Hardship Withdrawal to cover us from Foreclosure. XXXX stated that as soon as we get the Active Foreclosure notice send them documentation stating what we need to reinstate with loan and a due date for the amount, they would take care of sending money to Pennymac to get us out of Foreclosure. 
We received the Foreclosure on XX/XX/XXXX, asked Pennymac for the documentation for XXXX, it took several days, and once we received the information, we sent to XXXX. The reinstatement letter from Pennymac offers three options. XXXX reached out and said that our XXXX needs more direct information, not options. They just need a letter showing the home is in active foreclosure and total to reinstate by a certain date that is far enough in the future to allow them a reasonable amount of time to process and send money ( 1-3 business days is how long it takes them so a letter with the total due with a due date in like 2 weeks would be great ). That is all they need, with of course our names, the address, on company letterhead, dated within 60 days. Basic information that we didn't think would be problem. We reached out again to Pennymac to ask for that information. They requested another reinstatement letter. We waited several business days and received another reinstatement letter on a Friday, with the three options, but the due date was within three days. That gives XXXX no time to process. We go through this process one or two more times. Wasting more time. I called Pennymac, on XX/XX/XXXX, and asked again for documentation that includes what XXXX is requesting. I am then told that I need a XXXX letter, not a Reinstatement Letter. So we have wasted two months of waiting on Pennymac to provide documentation, given the wrong documents, and now, on XX/XX/XXXX we are told about another letter. Pennymac Loss Mitigation then tells me they will request a XXXX letter and that should be all XXXX needs, but it will take up to 10 day for them to process that. We wait, again. We are then sent another Reinstatement letter, with the three options, but the due date is the following day. Yes, the next day. After waiting 7-8 days on the letter. XXXX can do nothing with that. 
I called Loss Mitigation again and spoke with someone different and was then informed that they didn't understand the process and that the XXXX letter is only available for pre-foreclosure. Once in Forclosure, the reinstatement letter is the only option. On XX/XX/XXXX ( one month from losing our home despite trying to pay them ) we contacted Loss Mitigation and conducted a conference call between them and Empower to try and find a resolution. Pennymac absolutely refuses to give us the documentation that we need, within a reasonable time frame, with a due date far enough in advance to allow for XXXX to process. Basic information. We are not asking for anything that isn't easily accessible and available to them. We are trying to pay them but we are stuck in the cycle of requesting information, explaining the situation, telling them we have the money in XXXX to save our home, but we are continuously told " it isn't Pennymac 's problem. '' by XXXX in Loss Mitigation on XX/XX/XXXX. We owe the money and we are very sorry for the situation, but how can we resolve it if we can't get the information. We have begged for an extension due to us trying for months to resolve it but the long wait periods for documentation, being told incorrect information, and then given no time for XXXX to process has wasted so much time. Again, we are told that " it isn't their problem. '' We have tried everything to save our home. We still have it on the market, but being in foreclosure, people don't want to go through the process. We have the price dropped super low for this area and this home just to get this past us. We are seriously trying so hard to pay them. The fees that have accumulated each month that we've been unable to become current because we are waiting on them to give us out of date info has made our reinstatement balance so much more than we would've had to pay if we could've resolved this in XXXX. Thousands of dollars more in foreclosure fees for months we could've been out of foreclosure.I can't believe a company will let a family lose their home over not providing documentation.

Company response to consumer: Closed with explanation