Consumer complaint received 2021-04-22 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: CARRINGTON MORTGAGE SERVICES, LLC
State: MA

Complaint narrative:
I am seeking help with an issue I am having with Carrington Mortgage. My loan was purchased by Carrington in XXXX and a few months later we ran into financial hardships. We asked Carrington for assistance and were placed on a hardship plan to help us keep the home. Our understanding was our missed payments were going to be added onto the end of the loan.

I have called a multiple times to inquire as to why the payment was going down so slowly and why I was still paying PMI after 10 years. This has caused a financial hardship as my credit rating can not be improved because it looks as if I have been paying a mortgage for XXXX  years and have only paid off 6 % of the loan. When I called to discuss this with Carrington they stated that we in effect repurchased the home in XXXX and my new loan discharge date was XXXX. I informed them that they had charged us more for the home than we originally purchased it for and our equity in the home had been taken. They stated that I did not purchase the home until XXXX or XXXX. I explained that I had purchased the home in XXXX and we have been living here since then. This has caused my wife and I to have a low credit score as it shows my home was purchased in XXXX for XXXX and I currently owe XXXX. I have called in the past to ask why I am still paying PMI. Recently I asked for the originating papers to be sent to me which showed the home for XXXX. I called back and was told I took out another mortgage in XXXX on the home for XXXX. I asked for the papers to be sent to me from XXXX and the papers with my signatures are not the papers with the amount stating I owe the new amount. I was told My PMI was falling off in XX/XX/XXXX which would be 5 years from XXXX. Also at no point has Carringtom reported the credit bureaus any other amount besides the XXXX, I feel I should be much further ahead in my payments and the principle should be drastically lower. I went to refinance and was informed Carrington is not licensed in Massachusetts anymore. I then went to another mortgage company who directed me to the attorney general 's office and stated I should continue to resolve this issue with Carrington because it could cost me a lot of money since we have already paid so much toward the home, I am going to attach paperwork I have in regards to this issue. I was directed by the Attorney Generals office to reach out to the consumer financial protection bureau first. Any assistance would be greatly appreciated.

We requested paperwork from Carrington and the paperwork with our signature did not mention a new amount and pay off date. One of the paper stated we had a new amount and pay off date but this paper does not have a signature and neither my wife or myself had seen this paper before. We would have let the house go before we lost all our equity and paid more than the original loan. Requesting hardship assistance should not cause a greater hardship and add 7 years to a loan.

Company response to consumer: Closed with explanation