Fay Servicing, LLC Mortgage Complaint

Fay Servicing, LLC Mortgage department,

Other mortgage Loan modification,collection,foreclosure New Jersey

I had try several ways to get a loan modification on my property first with - - - but we git rejected more tan - times because of low income and the - time in the middle of the modification they send to us letter letting us know that they had transfer our mortgage to Fay Servicing , LLC the account manager - - - contact us and told us that we have a new loan # - and explain that there was already a Sheriff Sale date scheduled for -/-/15 and it was going to be postponed only if we turn in a complete modification package because by law they had to give us that opportunity and that once they confirm a complete package they will start the modification process. We turn in the modification package on - - 12 days before the sheriff sale scheduled date and even - - - confirm that as long we had turn in a complete package 8 days before the sheriff sale were where on the legit process requirement by the regulations of Fay Servicing , LLC and also confirm that the committee had confirm a complete package and no other documents


order to explain our financial situation I was honest and told him that we were on a more stable financial situation my husband have - jobs and i also have a job with a much higher salary than 3 years ago. He ask both of us what was our desire mortgage payment and we told him $2500.00 since our mortgage was to high and variable mortgage of $3200.00 we were not asking for much reduction since this is a - family rental and we leave at a rent control city with regulations we only collect $2800.00 in rents on a monthly basis and out of these we have to pay sewer and taxes does not allow us to complete the monthly mortgage payments at a higher monthly mortgage. In this property and is hard to get much rents as other cities in NJ. We also ask for 40 years mortgage with a lower interest and a set monthly mortgage payment. After the interview - - - told us to wait for a decision we were nervous since the time was against us and finally on Friday - - at - in the afternoon - - - me at my Job and told me that the committee was asking for $30000.00 in order to give a us a modification I told him that i felt they where just playing with us that i never heard any servicing agency asking for money at front in order to revaluate our case I felt very disappointed and told - - that I felt was not a fair determination on our case since I turn in my modification package on - - and on the - was confirm how could they made such a decision in a matter of 3 days. He had nothing else to say only that he was not the one making the decision that he was only the account manager mediator and it was the committee asking for $30000.00 at front and that we had to wire the money on the same exact date in order to stop the sheriff sale date -/-/15. I told - - that i felt they made that decision because I had send our bank statement from the month of - and they saw the ending balance of $27000.00 we are saving money for a - plan since after the sale day we will be ending without a home since we leave at the investment property a suggestion that first - - - told us to do to make this property base as our principal home. I told - - that the money was not money saved from the rents is from our jobs and also offerto him $10000.00 in order to give us a trial modification offer. He told us that it was not accepted by the committee and there was nothing else they could do for us. I am devastated by law have the right to postpone the sheriff sale.