I KNEW WE WEREN’T ALONE!!! Forebearance Nightmare 3 years & counting

[Sammi717]

Where do I begin? I apologize for this being long…. I was so mad the other day I wrote everything down because I want to figure out what action we can take. First of all, I was ecstatic to find this site. Not for our situations..but to know that it isn’t just us. I have just learned new details that explains how they screw you by sending you in circles. For months! Modifications take 30 days per the many representatives I have spoken with. (I have many notes!)

Beginning: We had a forebearance plan with our previous mortgage back in maybe part of 2020 & all of 2021 due to COVID. They made it sound like they would work with you after the forebearance ends. RIGHT- BY SELLING THE LOAN TO SELENE. Right then, I knew we were in trouble..but what can you do? They literally have control over your home. We have a senior in high school here & my special needs daughter. They have us “by the balls” if you will.
We have been back forth with them over modifications…have had to do a few because of financial reasons. NIGHTMARE. We would send documents, just as told tk me by representatives & what the application stated. But always they would ask for something else, so we’d send it. But then a statement would be out of date or needed updated paystubs. On and on for months! Our most recent modification DOUBLED our mortgage! Sickening when you are already struggling. We did another modification as my bf (his home-Im authorized 3rd party) has gone in between employment (most recently another court issue coming-but thats another story) However…his parents pay the mortgage for us when we can’t- but they want his proof of income. So for instance his last employment ended just as we successfully paid the 3 trial payments for the current modification. Hkwever we could oay the next until about 50 days later. I tried to send it, & called. Told we would have to restart the entire process.

I complete & send everything. Get a letter requesting 1 more document. However in my error I hadnt realized until the “due date”. On the due date I sent it in via fax around 230pm Eastern time. Per my many years of experience, I know that faxes are pretty quick. (We tried emailing many times…Sometimes it would work & many times it wouldnt-of course creating MANY issues) BUT THAT IS NOT HOW IT WORKS FOR SELENE. Funny thing is…a lot of why we get screwed relates to their polcies & procedures. Which I will easily explain, but some of you know by now.

Wed 10/11/23… after speaking with soooooo many representatives throughout this ordeal…I spoke to the BEST rep that I have ever spoken with. She was straight up with me & told me so much that explained to me exactly what was going on. Simply put…Selene knows exactly what they are doing!

After the incident where I faxed the document on the due date, during business hours..we were informed that AGAIN we would have to complete a brand new modification package. It “takes Selene a few days to scan the items in”. Therefore the document was LATE. EXCUSE ME? How am I to know that? (My first real proof from a rep that it’s not exactly our fault. Not that they can do anything.) This is after a few months already-during which the loan delinquent balance is growing because you CAN’T make payments during that time. So…based on everything we had been through & what the modification application said (which was an updated version I noticed) I completed & sent everything in. When I send documents in now, I ALWAYS call in a few days to verify receipt. This time I called & was told because he was a 1099 employee (2 issues-1.He was a new 1099 employee-didnt know all the rules regarding the financial aspect. 2. His most recent title as Ind Contractor is another issue we learned he was getting screwed-again another story)

So I called & was told that they needed a year to date statement or a Profit & Loss statement. I even repeated, “Ok so just send the year to date OR P&L statement? She said yes, & we hung up.

Sooooo for both of us actually (I included my income) I sent in our Year to Date statements.

I call on 10/10/23 & spoke to the most wonderful woman (wont say her namr quite yet) who explained it all very clearly. Why? Because now they wanted the P&L for both of us AS WELL. I was beyond frustrated & did vent to her what was going on… & she literally took the time to explain – 1. How to do the P&L- ESP to sign & date it (another reason they’d ask for a new one) 2. Include a letter explaining why we do not have paystubs- Independent Contractors & explain when we started so they understand why we dont have tax returns.

Then she basically explained:
-Not every Rep is extremely knowledgable on documents needed &/or the modification process (I figured that by now-but still so frustrating)

-Although it may say otherwise…she said it’s best to send documents for 3 months (quarter) for everything to cover you. Documents older than 3 months must be updated (keep this in mind when they request something new & give you a due date of 1 or 2 weeks away) THEY ARE JUST STALLING so then something expires & around & around you go)

-Paystubs for W2 Employee, but for Independent Contractor 1099, Year to date statement & Quarterly P & L statement. (If there are any special situatations, include a note explaining) They may want tax statements too, esp for Independent Contractors-we just dont have that yet.

-This is the major thing they do that screws us… EVERYTIME THEY REQUEST ANOTHER DOC….LOAN IS AUTOMATICALLY PUSHED BACK 30 DAYS.
AND YOUR LOAN MODFICATION GETS BASICALLY PUT BACK AT THE END TO BE REVIEWED.

-Recommended gathering requested documents & calling before you send them in to ensure nothing else is needed.

-I always document date, time, name of person & conversation notes!

**So since not everyone is as well versed & actually caring, we may get wrong info, we send, they request additional docs & give you a due date typically 1 or 2 weeks. (Pushes loan back) AND Loan gets pushed 30 days- increasing the balance, as well as adding another DELINQUENT payment to your history. Probably late fees too I bet. AND possibly EXPIRING previous docs already sent in depending on timing. Which we will never know exactly when they get scanned unless we called everyday. Which is ridiculous.

I realized then….it’s a vicious circle that they could care less if you get stuck in. And apparently doing a modification doesnt paise the Foreclosure process. (We are trying to save our house) They’ll just take your house & you’re screwed.
And if anyone is struggling as we are…my bf just lost employment again. So we are sending exactly what I was again told, along with uodated statements as Im sure we need at least an updated bank statement. Then crossing our fingers everything is okay And/or he regains employment quickly. I work online but its not nearly enough to get us by. Also recovering from a full left hip replacement…all while our 3 year old special needs daughter has been in school. (Starting this most recent process right when she started school & I was fresh out of surgery.) Not Selene’s problem by any means.

What they are doing is so wrong & it was super clear when this woman explained it to me. Why would we know their processes? How is it even legal to do what they are doing? Im double checking paperwork terminology & my notes & experiences. Can I file a Class Action?

I’m sorry everyone is going through this with them. There’s got to be something we can do with enough people. It is beyond clear that they are deceitful in their practices. So frustrating!

[Author]

Posts