Consumer complaint received 2024-02-01 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: ARVEST BANK GROUP, INC.
State: MD

Complaint narrative:
We entered forebearance in XX/XX/XXXX due to being very small business having to remain open during COVID so did not qualify for PPP loans. We were two months late on the mortgage when we entered forebearance and were told we could defer to end of the loan the amount owed since we were only 5 years from maturity. Six months in when we wanted to resume our normal monthly payments we were told we could not qualify for deferment due to lateness upon entry. This was never mentioned upon entry. We were told of many options by Customer Service that never really existed so we stayed in forebearance since we did not know how to catch up. XXXX XXXX employee suggested this.They did 3 separate investigations during this time. We were misled to believe a 20 year loan modification would be possible but only a 40 yr exists in reality. We were told upon leaving at 18 months that we were not eligible to defer since passed 18 month mark which was never mentioned anywhere. The reason for denying deferment which was the only reason I agreed in first place, had now changed. Had we known about the " 18 month '' rule we would have gotten out before that as we always only wanted to return to our regular loan payment. We finally " broke '' and said ok to 40 yr Loan Modification in XXXX and for three months did the Trial Period payment of {$920.00}. What they sent after was for a 40 yr modification at {$400.00} a month and not the {$920.00} a month. I called and asked why? No one could answer. No one knew. So I emailed the Mortgage Servicing Litigation Dept at Arvest on XXXX after XXXX XXXX did an investigation in XXXX to figure it out and could not. While waiting for their PROMISED response by XX/XX/XXXX they filed for Foreclosure on XX/XX/XXXX. When I received response on XX/XX/XXXX they denied any wrongdoing and we were well on our way. I sent another letter-all is included- on XXXX XXXX asking why they could not just send the correct papers with the correct amount? Response PROMISED by XX/XX/XXXX not received yet on XX/XX/XXXX they filed the Foreclosure here in the Court in my small town. This did not have to happen. It has been a nightmare and caused us stress related illness and hopefully we will not get a XXXX or something. Our local XXXX XXXX XXXX XXXX ( XXXX ) told me to contact you and Civil Justice immediately yesterday when we were served and I became rather ill. They told me to pull out the Mediation request in the Foreclosure papers and send that to them to demand mediation. They also said XXXX XXXX made many changes last year and she would investigate those. I believe we were caught in that as well as extreme misinformation throughout the process by many people who do not understand anything about the loans or rules. We have 7 rescue pets we care for here. I have agreed to their railroading us into a loan we can now never finish when we were so close to its end. We have worked so hard for our home for 27 years and would not have ignored, neglected, or been flippant about it. They have not been truthful and now i believe want to hide it. We just wanted the correct papers sent to us since last XXXX. Thank You. I will attach all documents.

Company response to consumer: Closed with explanation