Consumer complaint received 2016-07-01 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Settlement process and costs — 
Company: Seterus, Inc.
State: FL

Complaint narrative:
On XXXX 2015, Seterus, inc sent me a document to initiate a trial payment. I told them at that time that the payment was too high for my family to afford but I was afraid and made the payment anyway because I was afraid of losing my home. I was told from their customer service to send them a letter and the evidence as to what I was able to afford and comparable sales of home in the area, because as far as I was concern I was making the same payment before I went into default and the house value went from {$440000.00} to {$250000.00} and they wanted to charge me {$100000.00} more than value of the house and the same monthly mortgage of {$1900.00} before my default They sent me a modification for {$1700.00}. I owned {$300000.00} to the bank and they want to issue a loan for {$350000.00} for 40 years plus my deferment. I simply asked if they could reconsider if they could give me the loan at the XXXX @ 4 % for 40 years and defer the balance and we would be where it affordable to me and still profitable for them. My house value {$250000.00} and I am still willing to pay what I owe I call them up and told them if they can lower my payment $ XXXX-XXXX less per month it would be more affordable for me. I still do not understand why I can not qualify for the HAMP PROGAM since this is my primary residence. All they had to do was charge me what I owe and put the difference at the back of the loan and we would have been able to make a payment. They made me believe that this would not be a problem There customer service told me to make the initial payment with my formal complaint, along with the comparable from a realtor and do not sign the modification agreement and they will review and get back to me in 30 days. Seterus sent me a letter saying that my case was under review and they will get back to me within 30 days They never got back to me. I contacted them again and they sent me another letter stated that I will hear from the in 30 days and they told me not to make any more payment because that modification is off the table and I have to reapply. They could have been straight with me and told me to keep on paying until they came to an agreement. I felt so deceived that I have to start this whole process all over again. They did not honor their 90 days trial period, I paid up to 6 month on the trial period which should have been 3 months I submitted new documents for a new modification and every time I called nobody knows what is going on with your case. They tried to file a foreclosure on me twice and the judge dismissed the case twice because of them not complying to Federal & State standards. They sent me a letter that they have all my documentation and it is in review and yet is has been over 8 months and I still can not obtain an agreement from this bank. I recently sent in new paystubs and bank statements to their office. I am tired but I will not give up. This is my home that I am raising my XXXX children and widowed mother and refuse to give up. Please help us. How could our government allow Seterus to conduct business this way? They are the worst bank and they never keep their word. And their customer service people are horribly trained in assisting people with their issues. They are not trying to help us to save our house they are more trying to hurt us. I do not want a hand out I just want a I want to make a payment that is reasonable for all of us. Everybody who has ever dealt with Seterus knows what I am dealing with. We were so close to coming to an agreement that could be fair to both of us and because of their negligence and incompetent we have to start the process all over again. I need some answers on my modification and I am hoping that your organization could assist us in this issue.

Company response to consumer: Closed with explanation