Astoria Bank Mortgage Complaint

Astoria Bank Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Virginia

We have had our mortgage with Astoria Federal Mortgage Corp, recently changed to Astoria Bank, since -/-/-. We have had an adjustable rate with this lending institution from day one and have been trying for 10 years to modify our loan to a fixed rate so it does n't continue to adjust yearly. In -/-/- we tried for a modification, but we were denied because of lack of income and the collateral was not sufficient. But we continued to pay our mortgage for the last 10 years and have never missed a payment until -/-/-. On -/-/- our family encountered a true and devastating hardship. With a 2 day notice and no severance pay my husband lost his job of 15 years unexpectedly and through no fault of his own. We reached out to Astoria on -/-/- and spoke with - and she reassured us that this happens and our payments would more than likely be reduced our rolled into the end of our loan. We were hopeful. We immediately filed paperwork with the Loss Mitigation Department at Astoria. We contacted the Hope hotline and talked with a counselor, -, who told us we were clearly eligible for certain programs


writing through an email today -/-/- which put us past the 14 day appeal window ) that the committee would again deny us any modification because of lack of income ( no kidding ) and that they do not participate with HAMP. Lack of income is the reason we are in this situation in the first place. So at that point we were 2 months behind on our mortgage and incurred 2 late payments of $160.00. Our credit score dropped - points in 3 weeks from excellent to fair. We are responsible people and have always paid our bills on time. We are still just trying to provide for our - beautiful children on what little savings we have. We did come up with the past due mortgage amount and are now current on our loan. My husband is back working and we are trying to get back on our feet. We just want a modification so our rate does n't continue to change yearly. Sad when we have continued to pay our mortgage when they said we could n't, but with no help ever in the past 10 years, Astoria just continues to adjust our rate yearly. Predatory lending at its best ...