Santander Bank US Mortgage Complaint

Santander Bank US Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure Massachusetts

-/-/2016 - file is 26 months past due totaling about $ - ( w/o any fees ). Loan mod was denied because the servicer was unable to reduce the principal and interest portion of the payment - therefore a loan mod is no longer an option - no matter what the homeowner changes in her circumstance the result would still be the same - the servicer tried to extend loan to 40 yrs ( max term ) & reduce the interest rate as low as they are able to and still the monthly payment was too high. - The servicer would not communicate to the HUD approved nonprofit whether they reduced the interest rate at all. - Available options is to reinstate or come up with a significant down payment so that the homeowner can agree to a 12 month repayment plan otherwise option is to liquidate. - The file is in active foreclosure with NO sale date because the file is in active bankruptcy ; therefore the foreclosure is on hold. - My request for a NPV was denied ; request must be in writing and even then the request my not be granted. I was not given an answer when I asked what the lowest interest rate they used to determine if the homeowner was able to get approved for a loan mod or not.