Consumer complaint received 2025-05-01 00:00:00
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: PLANET HOME LENDING, LLC
State: CA

Complaint narrative:
Unfair and deceptive acts in practices. There is so much to type and so much wrong here. I filled out an on-line application and uploaded all documentation that I needed to enter for a loan modification due to a hardship and due to the fact, we keep paying our mortgage we would get kicked out ( owner our home for XXXX & so borrowing or using credit cards to pay other bills ). Then someone from Planet lending told us about the XXXX program since Planet Lending couldn't help us and we needed a lower monthly payment, wonderful ok. Received a denial letter in XXXX because we paid our XX/XX/XXXX mortgage, and it is now current. Spoke with someone at Planet lending and was told you need to be 90 days past due in order to be put through to XXXX and once again because our income was showing XXXX from incoming versus outgoing, we would not qualify for their, Planet Lending, Loan Mode and that the XXXX would be our best option. So, on XX/XX/XXXX I called them like I was told, and they asked me questions one being our incoming verse outgoing and I was told yes, we would not qualify for their loan mode that it would be submitted for XXXX. I would call every other week checking in to see how the process was going and I was told it was submitted they are just XXXX weeks behind which was fine, that was end of XXXX.... Well now last week on XX/XX/XXXX our VA Rep called to inform me that we still have not been submitted for XXXX and they just got word that XXXX is ending, and they need our file by XX/XX/XXXX by XXXX. I immediately got on phone Planet Lending asking for this to be expediated. My VA Rep even sent an email to the underwriting department asking for them to just submit my file and we can do the rest. Well Planet Lending sent him an email stating " their hardship has not been cured, and she stated she can't pay the mortgage ''. He then responded back stating this borrower meets all the requirements for the XXXX program why would you put them on a XXXX with a higher interest rate when they will only cause them financial hardship. He also stated they we have always stated our hardship is over however we need lower payments, and Planet already told us we would not qualify through for a loan mode. Then I got on a 3-way call with XXXX ( planet lending ) and our VA Rep ( XXXX ) and let planet know again that the hardship is over and we need lower payments so then the Rep from Planet lending said so you can afford mortgage payment which then all of a sudden we are approved for a XXXX with a higher interest rate when they have been telling us they can't help and we are being submitted to XXXX. They are twisting my words to suit their needs. They also said there is not enough time to get my file looked at with under writing before the XX/XX/XXXX XXXX deadline and my file was just submitted on XX/XX/XXXX which I fought because they told me my file was submitted on XX/XX/XXXX. So, my file has sat for almost XXXX even with me calling in for updates. Now they want my interest rate to go from 4.5 % to go to as high as 7.25 % which is still going to be a financial hardship when my file should have been sent up to the XXXX program. My VA Rep even left a message for the VP of loss meditation last week XX/XX/XXXX. I know I am not the only one this has affected, there are many from Planet Lending. This unfair and I do believe they were very deceptive with their acts in practices and all the phone recordings as well as notes they took would show that. I don't know if they dropped the ball with my file and many others or if they knew exactly what they were doing by 1st telling me I'm not approved due to my income for their loan mode to then telling me I was approved for their XXXX yr at a higher interest rate which 100 % benefits them and only them knowing that the XXXX program would have been mine and my Husbands best option in order to keep our home that we have had for over XXXX.

Company response to consumer: Closed with explanation