Consumer complaint received 2017-11-16 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — 
Company: MORGAN STANLEY & CO. LLC
State: CA

Complaint narrative:
Brief background : I am a XXXX year old single XXXX woman sharing my home with my best friend of over 30 years. She is a XXXX year old XXXX. We are the " XXXX XXXX - XX/XX/XXXX '' and need to stay in this home. The home that has been in my family since purchased brand new by my parents back in XX/XX/XXXX. 

My XXXX, along with the eleven different medications I was prescribed by my health care professionals made it impossible to return to work. I was a XX/XX/XXXX. It took 3 years to get my benefits through Social Security. I became delinquent on my mortgage payments, but I kept in contact with my mortgage company to the best of my ability. I have since discontinued all but one XXXX XXXX medication. It was very difficult to do but well worth it, the cloud has lifted. 

When I became able to pay my mortgage, they had already accelerated my loan, no notice was given, and refused to take anything less than the total amount that they say I owe. 

So we started working toward a loan modification to help me keep my home. First I was denied because I did not have sufficient income. My friend moved in to share expenses and I am now able to pay my mortgage as stated by the servicer in their denial. I am also being told that since I have equity I am not eligible. 

I even filed bankruptcy ch XXXX, in attempts to work out a situation with the lender so I may stay in my home. They refused. Then they mailed another loan modification application which I filled out and returned promptly, which included my roommate 's income as a non borrower contributor. Still denied. 

All this time, I have the trustee 's notice of sale and postponements coming in the mail three at a time. I believe they were dual tracking pushing forward with the sale even though I had a loan modification pending with the servicer. The servicer did not even have a record of the sale date, and if I had listened to them, I would have lost my home for certain, because I was not made aware that they had filed and been granted a lift of the stay of protection! 

So many things have been done that are outside the boundaries of what my California legislators have established. 

1. I was never alerted as to all the foreclosure alternatives that the lender took part in, whether I qualified or not, and if not, the steps I needed to take to become eligible to stay in my home. I was never made aware of options available to avoid foreclosure. 

2. Single Point of Contact was not established until quite recently and even then has changed three or four times within this last month. 

3. Dual Tracking - The trustee for the sale has been relentless in pursuit of this property even though there is an active loan modification with the servicer. The date given on the last correspondence from the servicer to submit documents is XX/XX/XXXX, yet the date for the trustee sale is XX/XX/XXXX. It appears they are either not communicating with each other as they should be, or I am being deceived by the servicer. And this is not the first time the servicer told me there was no sale date, when in fact there was! 

4. I was never given information on how to appeal a denial to my loan modification, including deadlines, or the parameters needed to qualify for a modification. 

5. I should have been given opportunities for not just a loan modification, but all foreclosure alternatives to stay in my home. 

6. Servicer used outdated credit score. 

7. Servicer used outdated property valuation. 

8. '' Single Point of Contact '' - " XXXX '' contends that even though I am requested to send in additional documentation for assistance, the result will not change. They refuse to give me a chance to save my home! He got annoyed with my questions and pleas for help. Talks down to me. 

9. They are going to sell my home for the amount owed, {$270000.00} and I stand to lose over $ 100K in equity! 

10. Other reps for the servicer have told me that it is not uncommon to start making payments again, and the balance I owe in arrears just gets tacked on to the back of the loan. 


My mortgage was sold and servicers changed several times throughout this ordeal.

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