Caliber Home Loans, Inc Mortgage Complaint

Caliber Home Loans, Inc Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure California

Homeowner did everything to try and save their home. They determined that the home was unaffordable for them and decided to pursue a short sale of the property. This was a difficult decision for the client to make, but realized this was in their best interest. The short sale was initiated on -/-/- with an approval letter being submitted on -/-/- in the amount of $440000.00. We submitted a value dispute and appraisal showing a value around $420000.00. The property was built and designed for little people and does not conform with standard properties. In a detailed conversation with - - at the lender ; a possible approval was discussed at $420000.00. The buyer is prepared to close at this price and seller can avoid foreclosure. On - - we received a denial notice from the lender advising that the offer was not high enough and they were proceeding with foreclosure. Additionally, this is an invalid foreclosure. The original sale date was issued for -/-/-. Since the sale has been postponed - times, it is mandated by California State Law that new foreclosure proceedings must be filed starting the foreclosure process over. No new Notice of Default has been filed. Therefore, to proceed with the foreclosure sale tomorrow would be an invalid and illegal foreclosure.