RUSHMORE LOAN MANAGEMENT SERVICES LLC
Consumer Complaints
There are over 2172 complaints on file for RUSHMORE LOAN MANAGEMENT SERVICES LLC. Dated between 2019-12-11 and 2012-10-01.
Complaints Page 20
2019-01-03
NY
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: RUSHMORE STATES THAT THEY RESPONDED TO NUMEROUS COMPLAINTS THEY FAIL TO MENTION THAT THEY JUST PICK AND CHOOSE WHICH PARTS OF THE COMPLAINT THEY ADDRESS 1 ) THEY SOLD MY HOME FOR {$100.00} TO XXXX XXXX APPRAISAL IS OVER {$350000.00} AMOUNT OWED IS BETWEEN {$220000.00} AND {$260000.00} 2 ) THEY SENT PAYOFF LETTER THE DAY OF THE SALE AND STATED IT WAS GOOD UNTIL XX/XX/2018. WHEN I CALLED REGARDING THE LETTER BEFORE XX/XX/2018 THEY STATED SORRY HOUSE IS SOLD LETTER IS IRRELEVANT 3 ) ALL PAPERWORK WAS NEVER SERVED ON XXXX XXXX ( LACK OF JURISDICTION ) 4 ) PAYOFF AMOUNTS ARE NOT THE SAME ON ANY PAPERWORK LAWYERS HAVE ONE AMOUNT RUSHMORE ANOTHER AND THEY DISREGARDED ALL REQUESTS TO EXPLAIN 5 ) THE MODIFICATION PAPERWORK WAS IRRELEVANT AND A JOKE THAT THEY OFFERED IT BECAUSE AS STATED IN THEIR OWN LETTER THEY DO NOT OFFER MODIFICATIONS FOR HOMES AS DELINQUENT AS MINE ANY MODIFICATION OFFER WAS FRAUDULENT BECAUSE THEY KNEW THEY WERE NOT GOING TO ACCEPT IT.
6 ) ALL ASSIGNMENTS ON THE MORTGAGES ARE FRAUDULENT. THEIR OWN ATTORNEY STATES IN CORRESPONDENCE THEY DO NOT EVEN KNOW WHERE THE NOTE IS.
HOMEOWNERS NEED TO LOOK AT THE REFEREE DEEDS AFTER THE SALES TO SEE WHAT THEIR HOMES ARE BEING SOLD FOR
Company Response: Closed with explanation
2019-01-02
TX
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Wire transfer sent on XX/XX/XXXX to Rushmore loan management in the amount of {$81000.00} .Rushmore says they did not get it. Even if its confirmed. They are holding over {$6000.00} of my money, between escrow and over payment.
On XX/XX/XXXX received phone call from Rushmore saying I would pay late charges and could be put in foreclosed. Gave agent all information on wire no they did not get it. Called Rushmore today XX/XX/XXXX same run around.
Company Response: Closed with explanation
2019-01-02
Decatur, GA
Written notification about debt
Debt collection: Other debt
Didn't receive enough information to verify debt
Company Response: Closed with explanation
2018-12-31
Carson, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-29
DC
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: XXXX XXXX XXXX sold our HELOC to Rushmore Loan Management Services. The communications from XXXX XXXX were minimal and came late in the process. XXXX XXXX has also not provided any customer support during the transition.
Rushmore LMS failed to provide us with checks for our HELOC once it took it over from XXXX XXXX XXXX. We have therefore been unable to make any payments drawing on our HELOC. We are facing late charges because we can not write checks against our HELOC.
Neither Rushmore nor XXXX XXXX has been at all helpful in solving this problem. In fact, we have had great difficulty even reaching customer service at Rushmore.
Company Response: Closed with explanation
2018-12-28
Castle Pines, CO
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I want to file a formal complaint against the servicer of my mortgage Rushmore Loan Servicing. They engaged in unethical servicing and foreclosure practices resulting in the loss of my home through wrongful foreclosure. Their agents engaged in dual tracking, their foreclosure department failed to follow Colorado law regarding protocol and notification and they made the mistake of auctioning off our home even though we were engaged in active litigation. Instead of a Rule 120 hearing and Attorney notification Rushmore sold our home out from under us on XX/XX/XXXX. We want to know why proper protocol was not followed and why required notifications were not sent out? How was this foreclosure allowed to move forward when our homeowner assistance application was in active review at Rushmore, a clear case of dual tracking by Rushmore. Why they would move forward with this auction while we are engaged in active litigation?? The worst part is that this was an avoidable foreclosure ; our income is more than sufficient to afford a fair and reasonable payment and we were in active review for modification. Instead of following Colorado foreclosure protocol Rushmore and their law firm XXXX XXXX, jumped the gun and wrongfully foreclosed on our home we have owned for 17 years.
We purchased our home in XX/XX/XXXX and in order to get some money for our growing business refinanced in XX/XX/XXXX. Although our payment more than doubled, we were OK with it at the time because we needed the money for the business. Our company XXXX XXXX ( XXXX company ) continued to grow, and a great deal of our business came from no-bid government contracts. However, after we completed a certification process, there was a change in the way the government contracts were allocated and assigned and there was a decline in business in XX/XX/XXXX, with gross receipts dropping from XXXX XXXX in XX/XX/XXXX to $ XXXX in XX/XX/XXXX. We attempted to refinance through our lender XXXX but were not approved and were forced to reorganize our debt through bankruptcy. We continued making payments on our loan through the bankruptcy and attempted to qualify for a permanent loan modification. We could not make any progress with XXXX and our loan was then transferred to Rushmore.
We submitted multiple modification applications but could not get any traction. We were then contacted by a mod company that told us they could get help, but they advised us to stop making our payments through the trustee to Rushmore. Since Rushmore had not been working with us, we took this step. At that point our business had regained traction and was bringing in good XXXX We were certain we would qualify for assistance but were told that the file was still in review. Rushmore then filed a motion for relief of stay from the bankruptcy, even though we were in active review for a modification. As a result of these developments, we hired an Attorney and filed a civil suit against Rushmore and the investor of this loan. We were told by their agents in XX/XX/XXXX and XX/XX/XXXX that our file was still in review for assistance options, and our legal team was under the assumption that foreclosure activities had been temporarily placed on hold while the modification review was being conducted and while the ongoing litigation progressed through the system. We were shocked and horrified to find out that our home had been sold without proper notification of sale date or Rule 120 hearing and the complete abandonment of protocol. We are not disputing the fact that we were delinquent on this loan, but we are disputing the right of this entity to conduct this foreclosure, we dispute that this is a lawful foreclosure because they did not follow Colorado rules, regulations, laws and procedures relating to foreclosure and furthermore we are quite certain that neither the foreclosure attorney or Rushmore notified my counsel!!
Company Response: Closed with explanation
2018-12-28
Sandwich, MA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-12-28
New Bedford, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-26
NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I had XXXX at the end of XXXX to remove a XXXX. It took me till XXXX to get back to work. I tried contacting Rushmore LM from XX/XX/XXXX until XX/XX/XXXX to ask for a repayment or payment plan. Every time i called Rushmore went through the prompts, 30 seconds later the call disconnects, this happened 10 times. I finally was able to reach them on the XX/XX/XXXX asking for a repayment or forbearance.. I went through a ten minute financial interview, the lady told me i needed to be two months behind. Said i didn't qualify at that time for those options yet they send me these resolutions. I tried to contact XXXX XXXX, my point of contact from XX/XX/XXXX till XX/XX/XXXX XXXX. 8 calls with no response. They have also violated my rights under the Respa law. Instead of keeping two months, they had 6 months as of XX/XX/XXXX. Stating they can do this> and have an annual review in XXXX. Then they tried to state they paid my hazard insurance of {$1100.00} in XXXX but is wrong amount and it's not do till XX/XX/XXXX and is paid quarterly
Company Response: Closed with explanation
2018-12-26
Palm Bch Gdns, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have a sale date on my property for XX/XX/2019 and file per my lender my loan is in litigation and my 3rd party I have authorized and my attorney even authorized to speak on my behalf with XXXX XXXX XXXX. This has been a on going issue with the lender Attorney XXXX XXXX XXXX for the Litigation process, this woman never returned my calls or EVER responded to emails at all, I have attached a conversation with all parties and it CLEARLY SHOWS that my Attorney XXXX gave XXXX all the authorization needed to be for them to speak on my behalf and she refuses to return a call to anyone at all. With my sale date around the corner XXXX wants to speak to my lender and go over the status of the file to get me some sort of mortgage assistance. I had them even email to Rushmore my lender to a Manager, Mr. XXXX and he is the same way he washes his hands of it and passes it on to who ever he can to not speak to any one. How can i get anywhere when i cant speak or have anyone speak to my lender and know what is going on with my file today.
Company Response: Closed with explanation
2018-12-21
Diamond, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-21
Cheverly, MD
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My account was transferred from one loan servicer to another. The original servicer did not apply the final payment and I'm being harassed when in fact I am a month ahead on my payments. Please see attachments.
Company Response: Closed with explanation
2018-12-20
Menifee, CA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: My Refinance of my mortgage was first " financed '' by XXXX XXXX XXXX XXXX, I agreed to the terms of the FHA refi, and signed papers, all went well/smoothly ... I agreed to the {$410.00}. per month mortgage payments, etc.
My loan was " sold '' to Rushmore Loan Management Services LLC -- and there have been multiple problems since then.
My Escrow account was " evidently '' short, so they raised my Escrow and Mortgage payments by {$50.00}. per month.. -- In phone calls to RUSHMORE I found out they had a " XXXX XXXX '' insurance policy added on to my Escrow account. I DON'T HAVE AND HAVE NEVER HAD A XXXX XXXX POLICY. They evidently removed that ... and my Escrow and payments did NOT go down ... They then " added '' on Flood Insurance.. without contacting me at all. [ They had all the paperwork from the original XXXX XXXX, which included the paperwork to prove that I DO NOT LIVE IN A FLOOD ZONE, and Flood Ins. is optional not mandatory for me. ] Information and documentation on the " Flood Insurance not mandatory '' for my area was AGAIN provided to them. I don't know yet if they have removed that and lowered the 2019 payment from well over {$500.00}. back the the only {$50.00}. over my initial agreed upon payment amount of {$410.00}.
MOST RECENTLY ; I had to change my bank account due to someone " getting into '' my home computer.. for security reasons. Having to change this, after 20+ years caused some issues for me, in differentiating between my " member number '' and " account number '' with my Credit Union .... causing a RUSHMORE automatic PAYMENT to be returned/rejected due to the wrong account information ... one month. The next month my ONLY INCOME of XXXX did not go into my checking account, due to erroneous account information.. month two ... causing the Rushmore automatic payment to be rejected/unpaid. All information has been corrected. I have spoken to RUSHMORE " CUSTOMER SERVICE '' on a few occasions ... it is frustrating to do so.
THEY ARE PRIMARILY AND FOREMOSTLY operating and acting as a " COLLECTION AGENCY '' ... very impersonal and inflexible, and we all know how frustrating it is to deal with a FOREIGN company when trying to solve a customer service issue. I have explained completely and fully the account errors in changing my bank account. I'm a XXXX year old XXXX woman who lives alone and on a very limited income.. I am XXXX XXXX. I have NEVER had any account in arrears, not a mortgage, or any debt, no utility has ever, ever been turned off for lack of payment. I have always paid all of my bills on time and as due ... I resent being treated and spoken to as if I am irresponsible and a credit risk ... My honest explanation for what had happened, once in a lifetime BEING IGNORED COMPLETELY by the Company.
XXXX foreign customer service rep. told me that my payments would be " CERTIFIED FUNDS ONLY '' -- putting a physical hardship on me, XXXX .... and I told her that was not going to happen ... these two payment snafus were a one time, special circumstance and NOT done by someone with a poor, unreliable credit history/payment history.
Thank you.
Company Response: Closed with explanation
2018-12-20
DC
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: On XX/XX/2018 the senior loan processor handling my refinance contacted Rushmore Loan Management services requesting a payoff quote for XX/XX/2018. Rushmore did not respond. The loan processor then submitted additional requests that were ignored. On XX/XX/2018 I contacted Rushmore by phone to request a payoff for XX/XX/18 and was told that it would be sent by fax to the loan processor and to me by mail ... it was not. XX/XX/2018 I contacted Rushmore again and was told it would take 24 to 48 hours, then told 3 to 5 days. and told a manager would put a rush on the request and it would be faxed within 24 hours ... it was not. On XX/XX/2018 I contacted Rushmore to find out why they had not sent the payoff quote was told it would be faxed within the day ... it was not. I was supposed to close on my refi on XX/XX/2018 and was not able too, it was rescheduled for XX/XX/2018. On XX/XX/2018 I contacted Rushmore and was told again the same lies. The payoff quote was not faxed again to my loan processor. XX/XX/2018 at XXXX XXXX and XXXX XXXX I was told that the payoff quote would be faxed to my loan processor within an hour by and consumer service person and a manager. It was not sent. During this entire time the loan processor continued to contact Rushmore and had similar results as I had. The processor from the title company handling the closing also attempted to obtain a payoff quote from Rushmore with no success. Today, XX/XX/2018 I am suppose to close for the second time but can not because Rushmore will not send a payoff quote, I am beyond frustrated and concerned that the date on this loan is going to expire and I will have to get a new loan and the interest rate will be higher. Rushmore is causing me financial harm.
Company Response: Closed with explanation
2018-12-20
Oxford, GA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I paid my mortgage to Rushmore Loan Management every month on time and then XXXX comes around and they said my check was returned. I sent them a copy of my bank statement showing them it did not get returned and then they went on to tell me its from a missed payment from previous company before my loan transferred to them.I think it's downright wrong to make my current payment ( XXXX ) returned due to something from previous company, which that was not even true. but yet and still I made a payment while they look over proof that I did not miss a payment with them either. So I made 2 payments. 1 for XXXX and one for XXXX. In XXXX I still had no answer so they again asked me for proof. I called previous mortgage company and they said there was no missed payments. So In XXXX I sent them over Every statement showing auto draft of mortgage payments from XX/XX/2018. NONE MISSED!! Now we are almost at XXXX and they have still not fixed my payment history nor taken off the fees they said will be removed once I proved my payment was not missed! They are still requesting me to make 2 payments to cover the payment I NEVER MISSED!
Company Response: Closed with explanation
2018-12-20
Fishkill, NY
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: The house was foreclosed on I never received ANY NOTIFICATION until a sale date was set I tried to work out a modification the company refused stating that the payments were to far behind they do not do modifications when the foreclosure is so far along. Mind you I WAS NEVER SERVED so I could at no point work out a modification because I was unaware of the foreclosure. I then requested the payoff before the sale I received it from the law firm after the sale and the letter stated the payoff was good until XX/XX/2018 they then sold my home appraised at {$280000.00} for {$100.00} Now they are trying to evict my ex wife and children from the house.
I have also contacted the Attorney Generals Office regarding this matter
Company Response: Closed with explanation
2018-12-19
Gaithersburg, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-14
Federal Way, WA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Issue : Possible Forced placed Insurance when Master Policy for Association and condo unit 06 Policy is sufficient.
My mortgage servicing rights with XXXX XXXX XXXX was transferred to a new Servicer which was effective XXXX. I received the transfer letter from XXXX XXXX XXXX on XXXX. The letter stated the servicing of my home loan will be transferred to the new loan servicer Rushmore Loan Management LLC on XXXX. I received a letter from Rushmore on XXXX with the new loan number interim payment coupon and envelope. My previous payments have always been one month ahead. All payments are a cashier check from either XXXX XXXX XXXX or XXXX XXXX XXXX. Payments are being credited without an issue.
The issue : XXXX I received a letter from Rushmore insurance dept., asking for proof of my Condo Assoc. Master Policy. No problem..I contacted Rushmore the same day. I spoke to rep. XXXX agent # XXXX. She stated I could fax the Master Policy right away. I also, let her know I have other insurance in addition to the Master Policy ; meaning my condo unit insurance. She stated just fax the Master Policy only and I should call on XXXX to check the status. XXXX I contacted Rushmore insurance dept. to verify Master policy status. I spoke to XXXX agent # XXXX. He checked and let me know they are having a problem with the Policy showing units XXXX ; the master policy didn't indicate my XXXX XXXX or walled-in on the Policy. The address XXXX XXXX XXXX XXXX, XXXX WA. XXXX is correct except it doesn't show my XXXX or number on the Policy. This association has XXXX units top to bottom, side to side, that covers the two sides of the community from XXXX XXXX to XXXX, which is XXXX XXXX XXXX XXXX. Our Management company is XXXX XXXX XXXX, XXXX XXXX, WA.
Our Master Policy is XXXX XXXX XXXX, agent XXXX XXXX. We have a CC & R which the unit owner is responsible for walled-in that is my Condo Policy, which covers personal possession, perils, theft, hazards, inside structures, special assessments, etc.The master policy covers all outside structures, liabilities, hazards, perils, and between the walls. I have always had condo unit insurance since XX/XX/XXXX when I purchased the condo. My condo insurance has been XXXX XXXX to XXXX XXXX. I have all documents to show no lapse in policy. The Association has always had a Master Policy insurance that is adequate and sufficient. I have never had a problem with the Previous mortgage company XXXX XXXX XXXX.
XXXX I received a second letter from Rushmore Insurance dept. Stating their records show my hazard insurance has expired and they have evidence that I haven't obtained a new insurance. I contacted Rushmore XXXX about the letter I spoke to XXXX # XXXX. I ask her to check on the Master Policy status and if there is still an issue it needs to be either deny or resolved. She checked with her supervisor and stated to me the supervisor could check the property and policy and not to worry they will get back to me. I did not feel good about the inconsistent resolve, the inconsistent interpretation of an Associations insurance policies. This is serious and needed to be resolved correctly. Something didn't feel honest or upfront. I knew it was important I diligently follow up about the issue they are having about the policies.
XXXX I contacted Rushmore and spoke to XXXX # XXXX. I told him they need to have my condo policy also because one of the issues walled-in would be my responsibility which is my condo policy and Why are they having still having problems with the master policy? He left the phone to check on my Master Policy he returned and stated the Policy was OK. I suggested to fax the condo policy the same day. He stated " no '' they check the policies from their department. He requested my condo policy number, Agent 's number and my email. He stated it might take 5-7 days and I would get my response. XXXX XXXX XXXX left a message for me to return their call. I spoke with XXXX the agent at XXXX XXXX. He stated Rushmore insurance dept was having a problem understanding the interpretation of condo unit insurance and how the master policy with the association covers the units. The other party didn't seem to want to hear or could interpret how the blanket coverage works with both policies. They did not request the policy.
XXXX I received the inquiry email stating they attempted to contact my agent and obtain the insurance information and still not received adequate documentation. The inquiry was unsuccessful.
XXXX Faxed a three page letter to Rushmore insurance, also faxed condo insurance policy, XXXX XXXX agents response the, Master policy again, the email from Rushmore 's insurance inquiry. The letter was in regards to continued misinterpretation of both policies, and possible forced placed insurance assessed to borrower when my insurance has adequate coverage. Excuses used by Rushmore insurance dept : Why XXXX units on my master policy. Why the policy does not state walled in? It is not necessary to fax needed information or documentation. Don't need to concern myself about the issue they are taking care of it. Because this is a serious issue and matter and they haven't given me a legitimate reason or reasonable basis to the deny the Associations Master Policy. nor, in a concerned of obtaining the condo policy right away I am very concerned.
Company Response: Closed with explanation
2018-12-14
Christiana, DE
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-14
NC
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Rushmore Mortgage continuously asks me to provide proof of flood insurance. I have multiple months of letters requesting insurance. Each time I receive one I call and give them the insurance info.Then it is quiet a month or two then they start again. If I could refinance with another company at the same interest, I would. I am trapped with them.
As of XX/XX/XXXX, they purchased flood insurance on my behalf. My flood insurance is paid through my HOA. The insurance company sends out any requests for info promptly as evidenced by my second mortgage not engaging in these extortive practices.
Rushmore agents are polite yet totally impotent to help in any way other than to say they will pass it on to their team.
Company Response: Closed with explanation
2018-12-12
Bohemia, NY
Closing on a mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Closed with explanation
2018-12-11
Blackbird, DE
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have made several complaints about this terrible company. It is only a matter of reading all the comments by various customers to see what kind of company we are dealing with.
Rushmore has a TERRIBLE reputation. You can never talk to a person who at least pretends to be cordial and not rude. For the most part, they are all rude.
On Friday night at XXXX XXXX some woman XXXX calls me while I am driving. I am neither late nor behind. She is rude and threatens me while I am driving that I am late! That was XX/XX/XXXX! The due date is not until XX/XX/XXXX. Again yesterday, on XX/XX/XXXX which was my B day, I get another call from these horrible people which I actually hung up.
They have been charging me escrow ; I paid more than XXXX dollars to VA department of taxation but they are also charging me again. I have told them that this amount is not right nor it is something I can pay because it is more than what I signed up for with another horrible company who sold my loan to Rushmore. I have the same demands as before : Lowering the total balance forgiving the XXXX late payments Lower monthly payment will be responsible for paying my own taxes An apology and returning the escrows they have charge me for months now.
CFPB must take immediate action in helping customers like me who are being threatened and taken advantage of by who knows these investors and shark companies like rushmore.
XXXX XXXX Here is what I read on line : This is just out of 66 complaints : Like may here, my loan was purchased by RLMS last fall and reading these reviews prepared me for the worst. As expected, my loan has had issues with on-time payment of escrow and their recalculation of escrow owned was laughably inaccurate ; just prepare for that if you've recently been transferred over. I will say that I was able to get on the phone with a person who, while them may not have been helpful, but were at least courteous to me. The good news is that I was able to send a fax to some number given to me from their customer service to have escrow account removed, my advice is to take as much of this ( PMI, escrow, etc. ) out of Rushmore 's hands as possible. It's been 10 months and my auto-draft payments also haven't been screwed up, so I'm on a roll!
Company Response: Closed with explanation
2018-12-11
Hamburg, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: 1. This letter serves as a formal complaint against Rushmore Loan Management Services. My complaint stems from the increase in my monthly mortgage payments. In or around XX/XX/XXXX I received an escrow statement from Rushmore Loan Management with a revised payment amount of {$390.00}. In or around the beginning of XX/XX/XXXX I received another revised escrow statement from Rushmore Loan Management with a revised payment amount of {$350.00}. ( SEE ATTACHED ESCROW STATEMENTS ) 2. I am XXXX XXXX owner of the property located at XXXX XXXX XXXX in XXXX, New York zip code being XXXX. The property is a 2 family dwelling located in a high crime area that requires extensive renovation. Renovations that I can not afford due to my financial circumstances and according to the value of the property it is not worth the current mortgage amount of approximately {$40000.00}.
3. XXXX/XXXX was the initial lender of mortgage on the property and the balance owing was approximately {$26000.00}. I had a deduction in my income and fell behind on approximately 4 payments with the lender. My monthly payments were approximately {$480.00} with no tax payments or insurance included in the mortgage payment. The interest rate was approximately 7.11 %..
4. In or around XX/XX/XXXX the loan was transferred to XXXX XXXX XXXX. The mortgage had increased significantly to approximately {$40000.00} with an interest rate of approximately 4.862 %. This amount was said to include arrear payments for arrear mortgage, City of XXXX, and XXXX County property debts. After a series of attempts the mortgage was modified to {$270.00} and later revised to {$280.00} Payments would include property taxes and insurance. ( SEE ATTACHED AGREEMENT ) 5. In or around early to mid XX/XX/XXXX I contacted XXXX XXXX XXXX and devised a written complaint regarding a foreclosure notice received by the City of XXXX. In late XX/XX/XXXX, XXXX responded with a written rebuttal addressing my concerns. In summation, XXXX XXXX XXXX advised all payments to the City of XXXX and XXXX County were paid in full. ( SEE ATTACHED LETTER FROM XXXX ) 6. Since XX/XX/XXXX, I had not received any delinquency notices from the City of XXXX and XXXX County. I had continued making timely payments of {$280.00} To XXXX XXXX XXXX.
7. On XX/XX/XXXX Rushmore Loan Management became my new servicer, but on XX/XX/XXXX I contacted Rushmore Loan Management Agent, XXXX and explained that all payments were current but being forwarded to XXXX XXXX XXXX. In the beginning of XX/XX/XXXX I began making payments to Rushmore Loan Management in the amount of {$280.00}.
8. On XX/XX/XXXX I contacted Rushmore Loan Management Services Tax Rep., XXXX at XXXX due to a foreclosure notice I had received from the City of XXXX. I was told that all tax payments were current on the property and she could not see why I received the notice. I faxed the notice to XXXX and was told the investigation would take 3 business days. ( SEE ATTACHED FORECLOSURE NOTICE ) 9. On XX/XX/XXXX I contacted Rushmore Loan Management Services Tax Rep., XXXX to conduct a follow-up of the investigation and was advised the investigation would conclude XX/XX/XXXX. However I advised that I would conduct a follow-up on XX/XX/XXXX, since I would be out of town.
10. On XX/XX/XXXX I contacted Rushmore Loan Management Services Tax Rep., XXXX who advised that Rushmore Loan Management Services was requesting a payoff from the City of XXXX. I requested a conclusive analysis as to the result of their investigation. I was advised that I could not receive the report but I could call back.
11. I made no more attempts to contact Rushmore Loan Management Services, nor did the servicer contact me. The City of XXXX property auction commenced on XX/XX/XXXX. A third party who has interest in the property was filing for bankruptcy and was able to list the property under their bankruptcy to remove it from the foreclosure list.
12. Moving forward, I continued to receive monthly billing statements in the amount of {$280.00} and continued to make timely payments to the lender/servicer. To this date, I am not delinquent on my mortgage payments to Rushmore Loan Management.
13. In closing, I am financially unable to pay the increased amount of {$350.00} by XX/XX/XXXX. There is apparent error in the calculations and/or payments forwarded to the City of XXXX. As stated in paragraph 4, my mortgage amount increased significantly since XXXX XXXX XXXX retained my account with a mortgage balance being approximately {$40000.00}. Approximately {$15000.00} has been allegedly used to pay off any arrear mortgage, City of XXXX, and XXXX County property debts. I have received escrow statements displaying the amount of taxes and insurance paid by the initial servicer ( XXXX XXXX XXXX ). ( SEE ATTACHED XXXX ESCROW STATEMENT ) 14. In reference to paragraph 10, Rushmore Loan Management Tax Rep. XXXX stated they were requesting a payoff from the City of XXXX. How could this be possible, when taxes were substantiated by XXXX XXXX XXXX? In addition, I have not received any notices of a property tax increase.
15. According to XXXX XXXX XXXX, they had initially paid any/all outstanding arrear debts on the property. In addition, I had been making timely monthly payments to XXXX XXXX XXXX and Rushmore Loan Management Services. I should not have received any foreclosure notices from the City of XXXX. There is an apparent error between XXXX XXXX XXXX and Rushmore Loan Management.
16. According to RESPA 12CFR1024.17 ( k ) escrow payments were evidently not disbursed in a timely manner and the servicer is liable to provide escrow disbursements in a timely manner. In order for me to receive a tax foreclosure notice, payments were not provided to the City of XXXX in a timely manner which would caused me to be responsible for the citys additional foreclosure fee of {$550.00}. This statement is also factual referring to paragraph 10, where Rushmore Loan Management was requesting a payoff from the City of XXXX. Why? When all debts that were associated with my account were current. Was Rushmore Loan Management up to date with all aspects of my account before the account was transferred to them? Please be advised of the latest comparison of Escrow Accounts between Rushmore Loan Management and XXXX.
17. According to RESPA Transfer of Servicing 12 CFR 1024.17 ( e ) If the new servicer changes either the monthly payment amount or the accounting method used by the old servicer, then it must provide the borrower with an initial escrow account statement within 60 days of the date of transfer. My loan was transferred to Rushmore Loan Management XX/XX/XXXX. In addition, in early XX/XX/XXXX I received a revised escrow statement decreasing the monthly mortgage payment {$48.00}. This clear evidence of miscalculations and errors.
18. According to RESPA Timely Payments 12 CFR 1024.17 ( k ) the servicer must pay escrow disbursements by the disbursement date. In calculating the disbursement date, the servicer must use a date on or before the deadline to avoid a penalty and may make annual lump sum payments to take advantage of a discount.
19. Property insurance payments have increased annually from XXXX with XXXX XXXX XXXX to {$200.00} with Rushmore Loan Management Services a {$92.00} increase. Insuring the same property for the same amount of approximately {$40000.00}. Why the increase??? Rushmore Loan Management Services surely did not maintain the same terms and accounting method as XXXX XXXX XXXX with the increase of the mortgage and insurance. Transfer of Servicing 12 CFR 1024.17 ( e ) If the new servicer changes either the monthly payment amount or the accounting method used by the old servicer, then it must provide the borrower with an initial escrow account statement within 60 days of the date of transfer. On XX/XX/XXXX Rushmore Loan Management became my servicer. ( SEE ATTACHED HAZARD INSURANCES ) 20. On XX/XX/XXXX I was told that the bank was requesting a payoff from the City of XXXX. Why? When the City of XXXX was claimed to have been paid in XXXX when XXXX took over the mortgage. In the attached letter XXXX claimed there were no outstanding dents on the property. In addition, On XX/XX/XXXX when I initially contacted Rushmores Tax Dept. I was told the account was substantiated. There has been a clear Error made on the banks behalf and it is their duty to investigate that error.
21. I can not afford the revised payment effective XX/XX/XXXX. I have struggled from XXXX to XXXX to make my mortgage payments affordable and finally achieved my goal. I do not want to lose my home, but aware of my current finances which would not allow me to pay an extra {$64.00}. The property is in need of a roof, gutters, foundation work, and many updates. Most importantly, the property situates in a high crime area which many developers may be apprehensive of buying. It would be economically feasible for the lender to work with me by retaining the same monthly payment.
22. This is clearly how the foreclosure crisis exists in our economic society banks are entitled to increase the borrowers mortgage without requesting supporting documents to ascertain if the borrower can afford the increased payment. Contrarily, a bank requests supporting documents to decrease the borrowers payments once that borrower has defaulted on their mortgage. This is a very twisted process that has been ongoing for many years and many borrowers fall victim to this same type process.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-12-10
San Francisco, NM
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-12-06
Newnan, GA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation