Consumer complaint received 2025-07-14 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: First Technology Federal Credit Union
State: CA

Complaint narrative:
I am filing this complaint because of the enormous financial strain me and my family have been put under by First Technology Credit Union. This has been going on for four years but the last year has been the worst. 

It all started back in XXXX when my wife had to incur a 10 % pay cut working for the State of California. In XX/XX/XXXX, a Mortgage Relief Program was initiated in California so we applied but found out that First Tech hadnt joined the program. After over 6 months of continuous communications with their Mortgage Department and certified letters to their CEO, XXXX XXXX, they finally joined. We reapplied and after another 6 months of the program reviewing the application and requesting additional information, we were denied XX/XX/XXXX based on one of their requirements being that the original loan amount couldnt be greater than {$470000.00}. No one had ever mentioned that to us and in all the conversations with the program agents, we were told everything looked great and to not pay the mortgage because then when we were approved, they wouldnt be able to pay the past due. When we were notified of not being eligible, we had to take out multiple private loans to pay as much as we could towards the past due of the mortgage. We filed a small claims lawsuit against the California Mortgage Relief but did not win the case. We continued to work with First Tech, applying over three times for assistance such as a loan modification but each time we were denied. We were told we had too much debt, we didnt make enough and then we made too much. The final straw came in XX/XX/XXXX when their Tax Department said they were setting up an escrow to pay back and current property taxes. We told them we were setting up a payment plan with our county but the county wouldnt let us do that until XXXX. First Tech said no and initiated the escrow without ever sending us any type of amortization schedule or documentation. Our monthly payments went from {$2500.00} to {$4300.00} from XX/XX/XXXX XX/XX/XXXX. That is 78 % of my wifes salary! We have made the payments with enormous struggle and incurred way more debt to cover the monthly cost. However, we are still 3 months behind on monthly payments which dates back to XXXX and the late fees are now over {$5000.00}. 

We can never catch up and First Tech has not offered us any solutions other than to apply again for a loan modification but we know well be denied again. We are almost done with the $ XXXX payments and the taxes will be caught up. Going forward, the monthly escrow amount is much more manageable and will not be as big of a financial burden on us. However, we still have 3 months that we just cant figure out how we can ever get those paid. We have asked if they could be added to the end of the mortgage but are always told no.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation