PennyMac Loan Services Complaint

PennyMac Loan Services, LLC Mortgage department,

FHA mortgage Loan modification,collection,foreclosure Texas

I contacted PennyMac mortgage for deed in lieu in - of -. My home in Alabama had been on the market since - of - ( now over 28 months ), I suffered job loss in - of - and moved to Texas for employment in - of -. The home is located in an economically depressed area and I have not been able to sell. Before I could be considered for deed in lieu I was told by PennyMac that I first had to apply for modification ( denied in - of - ). I was then told that I had to apply for a short sale before I could be considered for a deed in lieu. Both the deed in lieu and short sale were denied in - of - based upon their - - appraisal. However I continued my attempts to avoid foreclosure by listing the home which failed inspection by a potential buyer in - - which I provided to PennyMac. I subsequently obtained my own appraisal in - - which the PennyMac refused to consider because it was substantially lower than that obtained by PennyMac in - -. After another purchaser presented, PennyMac refused to

apparently mine is not an isolated incidence. I currently have a buyer ( short sale ) however while PennyMac has finally decided to present my file to HUD, they are not being forthcoming regarding information required from me and although this information has been previously provided, I am concerned that lack of information/compliance '' will be used as a means to terminate the short sale and proceed with foreclosure which is now scheduled for - -, -. I am in disbelief that PennyMac maintains the position that foreclosure is a better financial alternative to a short sale. My credit has been significantly and adversely affected by PennyMac 's commitment to proceeding with foreclosure as the representative has also refused to intervene and place these proceedings on hold.