Caliber Home Loans, Inc Mortgage Complaint

Caliber Home Loans, Inc Mortgage department,

Other mortgage Loan modification,collection,foreclosure Florida

To whom it may concern : I have lived in the state of Florida all my life and am an active member of my community. I provide public service to my church and have served my country in the - - as a -. I have owned my home since - of -, but I am now in danger of losing it to foreclosure due to a predatory loan and lender 's unwillingness to rectify the problem. After using - loans to purchase this home, I decided to consolidate in - and refinance the property with the purpose of controlling my interest rate and payment and also to use a little cash to do some home improvements. The bank appraised the home for $ - at the time of the refinance and the Loan was for $ -. I felt safe by leaving a sizable amount of equity in the home which would allow me to sell the home or refinance in the future if better rates became available. I also thought I was getting a 30-year fully amortizing loan, but it turned out to be a 50-year partially amortizing loan with a balloon payment due after 30 years!!! I


due to the economic downturn that had occurred, so I contacted - ( who eventually changed their name to Caliber ). I got nowhere with them for the next two+ years!! I was told at - point that I could n't get any modification help unless I was behind on my mortgage ; so after trying until -, I decided I had no choice but to stop paying into this predatory loan. Once I fell behind, I applied for a modification a couple of times. Each time, the only offer I was given was - that offered short term relief for a couple of years and then a reversion back to the same loan terms with a large amount added to the end of the loan. The offers also restricted my future rights to attempt to modify the loan. I believe my loan qualifies for some program out there. My property has lost about 25 % of its value since I bought it, and about 50 % of its value since I took this loan out. I am a - and am doing fine financially, at least well enough to maintain a reasonable mortgage loan. Add in the predatory nature of this loan, and I should actually be a prime candidate for modification, but -Caliber has shut the door on me by not offering any real solutions to this problem. I have been attempting to Short sale the property since - - but Caliber is not cooperative. Now I 'm facing a foreclosure sale on -/-/-!!! This could have been resolved years ago ; I 've talked to so many different representatives trying to get this fixed and move forward. I never intended to defraud anybody, and I 'm not looking for charity. But this loan is not fair!!! All I ask is to be given a fair chance at the modification programs that are supposed to be made available to citizens like myself whose tax dollars bailed out these lenders. Any assistance that would allow my family to keep our precious home would be greatly appreciated. Thank you for your time.