Consumer complaint received 2025-01-21 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: Selene Holdings LLC
State: MA

Complaint narrative:
Due to becoming fully XXXX on XX/XX/XXXX, I had no income to sustain myself while waiting approximately XXXX years for a decision from XXXX. As a result, I became delinquent on my mortgage payments to Selene Finance. During this time, I utilized any available resources to attempt to stay current on my payments. 

After XXXX confirmed that I would begin receiving monthly benefits in XX/XX/XXXX, I requested a loan modification from XXXX XXXX. My expectation was to not only bring my mortgage current but also to secure reasonable adjustments to make my payments manageable, allowing me to remain in my home. At the time of the modification request, my mortgage was fixed at a 3 % interest rate for the 30 years duration of the loan. 

On XX/XX/XXXX, XXXX XXXX sent a notice outlining potential benefits of their XX/XX/XXXXXXXX, including : Reduced monthly payment Reduced interest rate A lower principal balance A " Fresh Start '' to bring the mortgage current I submitted all required documents for the XXXX XXXX and was approved. On XX/XX/XXXX, I received a letter detailing the terms of the modification. The letter stated that I had until XX/XX/XXXX, to accept the offer in writing. It also provided XXXX options to respond within 30 days : XXXX. Accept the modification offer as presented. 
XXXX. Submit a reasonable counteroffer with supporting documentation, sent via first-class certified mail. 
XXXX. Waive my rights and proceed to foreclosure. 

I chose to submit a counteroffer because none of the benefits outlined above were offered. Instead, the modification terms included : An increase in my interest rate from 3 % to 8 %. 
The addition of {$38000.00} ( the amount I was behind ) to my mortgage balance. 
Restarting my loan as a new XXXX term. 

These changes resulted in my monthly payment increasing from {$1800.00} to {$2700.00}, a dramatic increase that I could not afford. 

On XX/XX/XXXX, I submitted a counteroffer that met all requirements outlined in XXXX letter. However, XXXX different representatives informed me that I did not have the right to submit a counteroffer. I had to refer each representative back to XXXX letter dated XX/XX/XXXX, which clearly stated my right to do so. 

Subsequently, I was told my counteroffer was not received. I provided proof of timely mailing and was instructed to make the new mortgage payment while my counteroffer was reviewed. Despite complying, I received a letter from XXXX dated XX/XX/XXXX, stating no changes could be made to the modification, but that my counteroffer would nonetheless ( this was the wording on XXXX letter to me ) be submitted to the XXXX XXXX Department for review. To date, I have not received any updates regarding this matter. 

I am filing this complaint against XXXX XXXX for predatory lending practices and for failing to provide an affordable and reasonable modification to my mortgage, which is what they had presented to me.

Company response to consumer: Closed with explanation