Lender Live Mortgage Complaint

VA mortgage Settlement process and costs

Lender Live Mortgage department,

VA mortgage Settlement process and costs Virginia

I am an - service member and - in - of -. When we arrived in the area we purchase a house for $190000.00 and by - the value had dropped dramatically. I am now set to transfer to - in - of - and can not afford to keep the property so I started the process to sell my house in - of -, thinking that two years was more than enough time to sell before leaving. I know I will never be able to sell the property for as much as I paid for it so I requested a Short Sale through my then mortgage company. After a couple of months of waiting for a reply from them and listing the house for sale, that mortgage company sold my loan to another mortgage company and in the process lost some of the documents causing the buyer we had for the property to back out because they were taking to long. We then got back on track with the new company trying to sell the house. The last appraisal was done in - of - stating the house was worth $76000.00. We listed the house for $100000.00 and received an offer at that price. Now almost a year and a half into trying to sell this house and not go into foreclosure, my now mortgage lender says they need to net $140000.00 to approve the Short Sale. I have never missed a monthly mortgage payment and can not afford to in the future because it will affect my security clearance and my job. I do n't know what else to do. We have been very patient and done everything this company has asked. If I foreclose on this house it will affect my career and family and that is the last thing I want to do but come - of - I will not have a choice and will be forced to foreclose. I would very much appreciate any assistance you could offer. Thank you.

Lender Live customer in Virginia
Oct 01, 2015

* Source: CFPB Complaint Database

Lender Live response to complaint:
Closed with explanation

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