MidFirst Bank Mortgage Complaint

MidFirst Bank Mortgage department,

FHA mortgage Loan modification,collection,foreclosure Texas

During the month of -/-/2015 I made a lump sum of 80,000 to pay off my mortgage. I then contacted my mortgage company about lowering my payments because the amount I owed was less than what I owed on my car. The mortgage company - Midland Mortgage ) suggested that I modify my loan to lower my payments. They said my payments would go down from 1200 to 600 if I participated in a modification program. I was then told to not make a payment and that the company would be sending me new loan papers. I then received a late notice in the mail after I did as I was instructed and I called the company to notify them that I was confused on why I was getting a late notification when I was told not to pay my loan by their representative. They then told me to ignore it and that once I complete the modification the loan would show current. I did as I was told but at no time was I notified that this was being reported to my credit bureaus as late payments as it was my understanding that the loan was being modified internally. I was a customer that did not have problems paying my loan as I had just paid 80,000 to my loan. If I follow the plan that they want me to stay on, for a balance of around 24,000 dollars I would end up paying them - for the life of the loan. The company wanted me to appear as if I was struggling to pay my loan to get federal approval for the modification when that was not the case.