Consumer complaint received 2024-04-11 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: Mr. Cooper Group Inc.
State: LA

Complaint narrative:
I am single mother and a school teacher who has owned my home for 18 years. I am in danger of losing my home to foreclosure because of loss of income during XXXX and the mortgage company Mr. Cooper refusing to conduct a fair and timely review of my current finances for assistance programs. I am in a predatory subprime loan with a current interest rate of 12.64 % and followed all the rules regarding XXXX forbearance programs when I got in trouble. The problem is that Mr. Cooper ignored my requests for help for many months before eventually providing me with a forbearance, and ever since I completed the forbearance I have been trying to get Mr. Cooper to work with me on a plan to catch up on the past payments for over XXXX year. They have dragged things out and when I finally was reviewed I was told I did not qualify but no details were provided regarding what program I was reviewed for, why I did not qualify and how Mr. Cooper calculated the income from my household. I found out that they were looking at information from XXXX months ago and were not taking into account my change in financial circumstances. When I asked for a new review I was told it was not possible and that I was going into foreclosure. At this time Mr. Cooper has told me there are no options for assistance, even though I have never been considered for a loan modification based on my current income. 

I have worked as an elementary school teacher for over 20 years. In XXXX my husband who was helping pay the bills and I were divorced. Things were tight but I continued to make sure the mortgage was paid over the next 18 months until XXXX wiped me out with the lock down of schools in my district. I contacted Mr. Cooper to ask for help but was told there were no programs available and that they would send out an application which never came. While I was struggling with hours at work my father and mother both passed away and I was devastated and having to help settle their affairs and cleaned out all of my savings to bury them. I kept trying to get help and eventually Mr. Cooper offered me a forbearance for 12 months to help me through XXXX related income loss. In that same time frame my home was damaged and vandalized after the police broke the windows out to capture a family member on the run from the law who was hiding there while we were out of town. The home was ransacked and it was another financial burden for me to overcome. 

I was back on my feet by the beginning of XXXX and began trying to work with Mr. Cooper to get a modification to address the missed payments from XXXX forbearance and other family hardships. It was a very difficult process as I would send in paperwork multiple times only to be told it was lost or incomplete or outdated. After many months I was told I did not qualify. I tried to re-apply and I asked if Mr. Cooper would like to look at my financial information but was told that they were just using my old numbers and dont worry about it. Then I was told I was denied again, but no one could tell me for sure. 

I am a single mother and elementary school teacher who has been paying on a predatory subprime loan with an interest rate of 12.64 % for close to 15 years. I find it hard to believe that Mr. Cooper refuses to review my current financial information to see if I qualify for assistance. This interest rate is close to XXXX percentage points ABOVE the market interest rate. These type of loans were designed to make the borrower fail, yet I have persisted and made these payments for years until XXXX hit my family.

Company response to consumer: Closed with explanation