Arvest Bank Mortgage Complaint

Conventional fixed mortgage Loan modification,collection,foreclosure

Arvest Bank Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure Arizona

We are working with Central Mortgage Company and - - - to facilitate a short sale for a mutual client. We have obtained all approvals and working on getting this closed in order to avoid a foreclosure. The buyer, who is obtaining an FHA loan, and their lender have requested a week extension from Central Mortgage Company and they have informed me that due to the fact that there is a sale date scheduled for - they will not issue a request for postponement. I was informed to go to the trustee attorney and FNMA. Both of those organizations of course replied that the decision is 100 % up to the server. The servicer is unwilling to help avoid this foreclosure and facilitate a short sale. I know that there are no laws and regulations where they have to agree to it but they have been completely unreasonable. The buyer has already spent money on an inspection and appraisal. They have acted in good faith trying to get this closed asap and they will be out over $ - if the servicer continues with the foreclosure and will not approve the extension.

Arvest Bank customer in Arizona
May 13, 2015

* Source: CFPB Complaint Database

Arvest Bank response to complaint:

Consumer disputes how Arvest Bank handled their complaint

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